The state audit agency said Monday that it referred a former national security adviser and three others to the prosecution as they had abused their powers to intentionally delay the deployment of an advanced US missile defense system in a southeastern county. According to the Board of Audit and Inspection, Chung Eui-yong, who also served as foreign minister under the former Moon Jae-in administration, and other senior government officials were found to have intentionally delayed the publication

Defense Nov. 18, 2024

The wife of the main opposition Democratic Party leader Lee Jae-myung has filed an appeal against a court ruling that fined her for providing free meals during Lee's run in the party primary for the 2022 presidential election, people familiar with the matter said Monday. Kim Hye-kyung submitted the appeal to the Suwon District Court, south of Seoul, through her legal counsel, after she was found guilty of providing meals worth 104,000 won ($74.43) to the wives of three former and current pa

Politics Nov. 18, 2024

President Yoon Suk Yeol said South Korea's relations with the United States and China are not about choosing sides, pledging to working closely with both great powers amid Donald Trump's imminent return to the White House, according to interviews published Monday. Yoon expressed hope for constructive relations between Washington and Beijing in a written interview with Brazilian newspapers -- Folha de S.Paulo and O Globo -- as he visited Rio de Janeiro to attend the Group of 20 summit.

Politics Nov. 18, 2024

South Korean stocks jumped more than 2 percent Monday as investors scooped up Samsung Electronics' shares on the chip giant's massive buyback plan. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) gained 52.21 points, or 2.16 percent, to close at 2,469.07. It marked the largest daily gain since Sept. 26, when the Kospi jumped 2.9 percent Trade volume was moderate at 431.2 million shares worth 10.4 trillion won (US$7.5 billion), with gai

Market Nov. 18, 2024

The unification ministry said Monday it is reviewing measures to reclaim loans granted to North Korea for building inter-Korean roads and train tracks after the North blew them up in October. The unification ministry unveiled the tentative measures as part of its policy plan for the second half of President Yoon Suk Yeol's administration, which is now at the midpoint of his five-year term. On Oct. 15, North Korea demolished parts of the roads and train tracks connected to South Korea -- the

North Korea Nov. 18, 2024

Trade Minister Cheong In-kyo emphasized on Monday that all efforts should be focused on thoroughly preparing to minimize uncertainties for businesses as former US President Donald Trump is set to take office for his second term. Cheong made the remarks during a meeting with ministry officials, as Trump, who is set to return to the White House in January next year, has pledged to implement significant policy changes, including higher tariffs on imported goods. The ministry has held a series of me

Economy Nov. 18, 2024

South Korean financial authorities said Monday the recent stock market plunge was excessive, given economic fundamentals, vowing to enhance market monitoring and swiftly implement a policy fund to strengthen valuation of local companies. The message was released during an interagency meeting among chiefs of the Financial Services Commission, Financial Supervisory Service and the Korea Exchange, as well as market experts and relevant institutions, in Seoul, in response to steep losses incurred in

Economy Nov. 18, 2024

President Yoon Suk Yeol arrived in Rio de Janeiro, Brazil, on Sunday to attend the Group of 20 (G20) summit, a multilateral forum representing the world's major economies. Yoon flew from Lima to Rio de Janeiro to participate in the G20 summit slated for Monday and Tuesday, which marks Yoon's third consecutive attendance at the summit. On the first day, Yoon will join the launch of the Global Alliance for Hunger and Poverty and outline South Korea's contributions to combat global h

Politics Nov. 18, 2024

The chief of South Korea's arms procurement agency has met Peru's defense minister and discussed ways to expand their arms industry cooperation on the ground, sea and air, the Defense Acquisition Program Administration said Monday. The meeting between DAPA Minister Seok Jong-gun and Peru's Defense Minister Walter Astudillo in Lima on Saturday came as President Yoon Suk Yeol visited Peru for an Asia-Pacific Economic Cooperation summit. In a separate summit held with his Peruvian co

Diplomatic Circuit Nov. 18, 2024

In taking an early exit from the World Baseball Softball Confederation Premier12 in Taipei this month, South Korea was held back by its lack of depth among young, homegrown starting pitchers. South Korea's fate was sealed Sunday, its first offday of the tournament, when Japan and Chinese Taipei each won its game to grab spots in the Super Round as the top two teams in Group B. South Korea will not finish higher than third regardless of its result against Australia in the final Group B game

Baseball Nov. 18, 2024

A new long-range radar system developed with homegrown technology has been approved for combat suitability, the state arms procurement agency said Monday, with the equipment expected to bolster surveillance of aircraft in the country's air defense identification zone (KADIZ). The new radar system is capable of conducting around-the-clock surveillance in KADIZ and transmitting real-time data to the Air Force's Master Control and Reporting Center, the Defense Acquisition Program Administ

Defense Nov. 18, 2024

Following the best performance of her LPGA career on Sunday in Florida, South Korean Im Jin-hee has put herself in the hunt for the tour's top rookie award. Im finished tied for second place at The Annika driven by Gainbridge at Pelican at 11-under 269, after shooting a two-under 68 at Pelican Golf Club in Belleair, Florida. She had three birdies and one bogey Sunday. Im, Charley Hull of England and Zhang Weiwei of China all ended up three strokes behind the champion, Nelly Korda of the U

Golf Nov. 18, 2024

North Korea again sent balloons carrying trash toward South Korea on Monday, the military here said, resuming its balloon campaign after about a three-week hiatus. North Korea floated some 40 balloons in the early hours, with approximately half of them falling in the Seoul metropolitan area and surrounding Gyeonggi Province, the Joint Chiefs of Staff said. The fallen objects were leaflets critical of South Korea and included no hazardous items, it added. Since late May, North Korea has sent more

North Korea Nov. 18, 2024

South Korean stocks got off to a strong start Monday, led by gains from large-cap shares. The benchmark Korea Composite Stock Price Index added 36.08 points, or 1.49 percent, to 2,452.94 in the first 15 minutes of trading. Market bellwether Samsung Electronics soared 5.79 percent, and leading battery maker LG Energy Solution increased 2.43 percent. Top automaker Hyundai Motor rose 3.4 percent, and its sister affiliate Kia jumped 2.84 percent. Energy shares were the biggest winners as KEPCO climb

Market Nov. 18, 2024

North Korean leader Kim Jong-un has called for bolstering the country's nuclear forces "without limitation" and completing war preparations as the country's enemies have increased "frantic" military confrontations with North Korea, state media reported Monday. Kim made the remark during the 4th Conference of Battalion Commanders and Political Instructors of the Korean People's Army on Friday, the final day of the two-day event held in Pyongyang, according to the Korean Centra

Politics Nov. 18, 2024