The South Korean sports ministry said Saturday it is seeking a meeting with International Olympic Committee President Thomas Bach over a gaffe during the opening ceremony for the Paris Olympics in which South Korea was incorrectly introduced as North Korea during the parade of athletes. In a statement, the ministry said Jang Mi-ran, the second vice minister of sports who attended the ceremony in the French capital Friday, has asked the IOC to arrange a meeting with Bach over the incident, and

Foreign Affairs July 27, 2024

North Korean leader Kim Jong-un has said "kindred" relations with China will be "firmly" carried forward as he visited a monument symbolizing bilateral ties, state media reported Saturday, amid suspected signs of strain between the traditionally friendly countries. On Friday, Kim visited the Friendship Tower in Pyongyang, which was erected to commemorate China's participation in the 1950-53 Korean War, and paid tribute to fallen Chinese soldiers during the war, a day ahe

North Korea July 27, 2024

Retail investors paid 4.57 trillion won ($3.29 billion) in stock transaction tax last year, accounting for 75 percent of the total, industry data showed Saturday. The government collected around 6.06 trillion won in stock transaction tax last year, and foreign investors paid nearly 1 trillion won in the tax last year, according to the Korea Securities Depository on Saturday. The data came as the government is seeking to scrap a capital gains tax on financial investments while cutting the tax o

Market July 27, 2024

PARIS -- The first Summer Olympic Games in Paris in 100 years kicked off Friday with a one-of-a-kind opening ceremony held on the city's main artery celebrating the cultural diversity of France, a marathon of a show that pushed the boundaries of what is possible in Olympic ceremonies. Some 6,800 athletes from 205 national delegations, including the Refugee Olympic team, marked the start of the 17-day competition by riding boats equipped with cameras on a 6-kilometer floating parade on the

More Sports July 27, 2024

The opposition-controlled National Assembly passed one of the four contentious broadcasting bills aimed at reducing the government's influence over public broadcasters Friday, with lawmakers of the ruling party leaving in protest. The passage followed the main opposition Democratic Party ending the ruling People Power Party's filibuster during a plenary session after 24 hours. The bill was then put to a vote and passed in a 183-0 vote, in which only lawmakers from opposition pa

Politics July 26, 2024

A local court on Friday issued arrest warrants for two YouTubers accused of blackmailing and extorting "mukbang" YouTube star Tzuyang. The Suwon District Court issued the warrants after questioning Lee Jun-hee and Jeon Kuk-jin, known by their YouTube channel names, Gujeyeok and Jujakgambeolsa, respectively, on charges of blackmail, threats and extortion against Tzuyang. The court cited the gravity of their charges, as well as concerns over secondary victimization of the YouTube s

Social Affairs July 26, 2024

South Korean shares closed sharply higher Friday, ending a two-day losing streak on large cap gains led by financial firms and shipbuilding companies. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 21.25 points, or 0.78 percent, to close at 2,731.90. Trading volume was moderate at 504.7 million shares worth 12.8 trillion won ($9.24 billion), with gainers outnumbering losers 594 to 288. Institutions purchased a net 394 billion won wor

Market July 26, 2024

Lee Sang-in, acting chief of South Korea's state broadcasting regulator, voluntarily stepped down Friday ahead of the National Assembly's planned vote on his impeachment motion. The main opposition Democratic Party, which has the majority of seats in the National Assembly, tabled a motion to impeach Lee, apparently aimed at blocking the Korea Communications Commission from taking control of public broadcaster MBC. President Yoon Suk Yeol accepted Lee's resignation offer, his offic

Politics July 26, 2024

Two-time Olympic champion Kim Woo-jin finished first in the men's individual archery ranking round of the Paris Olympics on Thursday. Kim scored 686 points out of a maximum 720 points at Les Invalides in the French capital to grab the top seed for the individual tournament, which begins Tuesday with the round of 64. The 32-year-old won gold medals in the men's team event at each of the past two Olympics but he has never won an individual medal. As the top male performer for South Korea

More Sports July 26, 2024

South Korean shares opened higher Friday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index added 17.01 points, or 0.63 percent, to 2,727.66 in the first 15 minutes of trading. The KOSPI had dropped for two consecutive sessions following reports of poorer-than-expected second-quarter performances by major US tech firms. The Dow Jones Industrial Average advanced 0.2 percent Thursday, ending a two-day losing streak on reports that the US economy grew at a fas

Market July 26, 2024

South Korean shares dipped by nearly 2 percent Thursday as tech and auto stocks crashed following an overnight drop on Wall Street. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index lost 48.06 points, or 1.74 percent, to close at 2,710.65. Trading volume was heavy at 433 million shares worth 13.4 trillion won ($9.67 billion) with losers outnumbering gainers 728 to 160. Foreigners remained net sellers for a second straight session, dumping a n

Market July 25, 2024

The chief of the Seoul Central District Prosecutors Office was briefed on last week's questioning of first lady Kim Keon Hee more than three hours before he reported it to Prosecutor General Lee One-seok, sources said Thursday. The revelation came after the top prosecutor expressed frustrations that he had been in the dark about Saturday's questioning of Kim over a luxury bag scandal for some 10 hours, and ordered an inspection into what happened. The inspection is expected to focus on

Social Affairs July 25, 2024

North Korea's latest round of its balloon campaign involved around 500 balloons carrying scrap paper and plastic sheets, including those that fell on the presidential office compound in the capital, South Korea's military said Thursday. In what marked the second of its kind this week alone, North Korea launched the trash-carrying balloons the previous day, as the South Korean military blared anti-Pyongyang broadcasts in full scale through its border loudspeakers in response to the repe

North Korea July 25, 2024

Seoul shares opened sharply lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index lost 35.99 points, or 1.30 percent, to 2,722.72 in the first 15 minutes of trading. The Dow Jones Industrial Average dipped 1.25 percent, while the tech-heavy Nasdaq plunged 3.64 percent Wednesday on worse-than-expected Q2 performances by major tech companies, including Tesla. In Seoul, most large caps were in negative terrain. Market kingpin and tech giant Samsun

Market July 25, 2024

The United States on Wednesday slapped sanctions on a China-based network of six individuals and five entities for their alleged involvement in the procurement of items supporting North Korea's ballistic missile and space programs. The Treasury Department issued the sanctions after Pyongyang's persistent launches using ballistic missile technology, including a failed attempt at a military spy satellite launch in May, in breach of UN Security Council resolutions. The department stressed

North Korea July 25, 2024