A Chinese fishing boat capsized in waters off the southwestern city of Gunsan on Wednesday, leaving three crew members unconscious and three others missing, Coast Guard officials said. According to the Coast Guard, the 239-ton vessel capsized shortly after midnight in waters 124 kilometers southwest of Gunsan's Eocheong Island. Of the 15 crewmen aboard the ship, eight have been rescued by the Coast Guard and another Chinese boat that was fishing alongside the capsized vessel.   F

Social Affairs Oct. 20, 2021

North Korea announced Wednesday that it has successfully conducted a test-firing of a new-type of submarine-launched ballistic missile (SLBM) a day earlier. On Tuesday, South Korea's military said the North fired a short-range missile believed to be an SLBM from the vicinity of Sinpo, where its main submarine shipyard is located. It marked the North's eighth known major missile test this year. The Academy of National Defense Science conducted the test-launch from "8.24 Yongung" where

North Korea Oct. 20, 2021

WASHINGTON -- North Korea's latest missile launch highlights the urgent need to engage with the reclusive state in dialogue, a senior South Korean official said Tuesday. The official also said South Korea, Japan and the United States share concerns over the North's missile launch. "There were concerns since the North's continued missile launches may affect our efforts (to resume dialogue) to a certain extent as we discuss ways to bring North Korea back to dialogue," the official said

Foreign Affairs Oct. 20, 2021

WASHINGTON -- The United States remains ready to engage with North Korea anytime and anywhere, White House Press Secretary Jen Psaki said Tuesday, adding that North Korea's missile tests underscored the urgent need to engage with the reclusive state. North Korea fired what appeared to be a submarine-launched ballistic missile on Tuesday (Seoul time), marking its eighth missile test so far this year. "These launches also underscore the urgent need for dialogue and diplomacy. Our offer rema

Foreign Affairs Oct. 20, 2021

The US State Department on Tuesday condemned North Korea's latest missile launch as a threat to the region while urging the reclusive state to engage in dialogue. "The United States condemns the DPRK's ballistic missile launch. These launches are a violation of multiple United Nations Security Council resolutions and are a threat to the region," a State Department spokesperson told Yonhap News Agency in an email. "We call on the DPRK to refrain from further provocations and enga

Foreign Affairs Oct. 19, 2021

South Korean stocks rebounded Tuesday on easing concerns about the new coronavirus and the volatility in the currency market. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.36 points, or 0.74 percent, to close at 3,029.04 points. Trading volume was moderate at about 833 million shares worth some 10 trillion won ($8.5 billion), with gainers outnumbering losers 449 to 381. Foreigners bought a net 146 billion won, while retail investors

Market Oct. 19, 2021

The National Security Council expressed "deep regret" Tuesday over North Korea's launch of a short-range ballistic missile and urged Pyongyang to return to dialogue. The council met shortly after the North fired the missile toward the East Sea, according to Cheong Wa Dae. "The council members expressed deep regret that North Korea's launch occurred while active consultations are under way with the United States, China, Japan, Russia and other major countries to advance the Korea

Technology Oct. 19, 2021

The first snow of the season fell on a portion of Mount Seorak in the northeast of the country Tuesday, 15 days earlier than last year, park authorities said. Flakes began falling at about 10 a.m. around Jungcheong Shelter, 1,676 meters above sea level, according to the Seoraksan National Park Office. The temperature was 0.4 C and the wind speed was 0.6 meters per second at that time. Snowfall was too light to accumulate, officials said. The season's first snow event occurred 15 days earlier

Social Affairs Oct. 19, 2021

Eight Army soldiers have tested positive for COVID-19, raising the total caseload reported among the military population to 1,973, the defense ministry said Tuesday. Six trainees at a boot camp in Yeoncheon, 62 kilometers north of Seoul, were found to have contracted the virus while in quarantine following the coronavirus outbreak in their unit. They were not fully vaccinated. An Army officer based in Yangju, north of Seoul, and an enlisted soldier stationed in Paju, 30 km north of the capital

Defense Oct. 19, 2021

The number of employees in the food service segment rebounded in April from a year earlier as the job market recovered amid the economic recovery, data showed Tuesday. The number of people employed at restaurants and eateries reached 1.6 million in April, 65,000 more than the previous year, according to Statistics Korea. The tally rebounded from October 2020 when the number of such workers fell 179,000, marking a record on-year fall. Still, the total number of workers in the food service segm

Industry Oct. 19, 2021

The state-run Korea Development Bank (KDB) said Tuesday it has successfully issued $1.5 billion worth of bonds to foreign investors. The lender has sold 10-year bonds worth $300 million and 5 1/2-year bonds worth $500 million. The KDB has also issued $700 million worth of green bonds that will come due in three years and three months, which will be used to finance Green New Deal projects, such as rechargeable batteries and renewable energy. The state bank said its has floated those bonds at t

Economy Oct. 19, 2021

Foreign currency deposits at banks in South Korea rose sharply in September from a month earlier as exporters increased dollar holdings, central bank data showed Tuesday. Residents' outstanding foreign currency-denominated deposits came to $94.2 billion as of end-September, up $1.6 billion from the previous month, according to the Bank of Korea (BOK). It represents the second consecutive month of on-month increase. In August, they climbed by $470 million from the previous month. Residents inc

Economy Oct. 19, 2021

The ruling Democratic Party (DP) said Tuesday it plans to refer an opposition lawmaker to the parliamentary ethics committee for making groundless claims against Gyeonggi Gov. Lee Jae-myung using a dubious photo of bundles of cash. Rep. Kim Yong-pan of the main opposition People Power Party (PPP) revealed the photo during a parliamentary audit of the Gyeonggi provincial government on Monday, claiming it showed Lee, the DP's presidential nominee, took bribes from gangsters. Lee, who attended th

Politics Oct. 19, 2021

The Cabinet on Tuesday approved a revision to the immigration law to grant long-term residency to Afghan evacuees airlifted in August from the Taliban-seized country and allow them to get jobs here. "In order for them to live independently in our society, getting jobs must be a priority," Prime Minister Kim Boo-kyum said during the Cabinet meeting in Sejong. "Ministries should review ways that can utilize their careers in Afghanistan in South Korea." In August, the governme

Politics Oct. 19, 2021

Sales of equity-linked securities (ELS) in South Korea plunged more than 30 percent in the third quarter from three months earlier amid the coronavirus pandemic, data showed Tuesday. The value of ELS products in Asia's fourth-largest economy stood at 11.6 trillion won ($9.8 billion) in the July-September period, down 30.8 percent from the second quarter, according to the data from the Korea Securities Depository. The figure, however, was up 17.8 percent from the 9.8 trillion won floated during

Economy Oct. 19, 2021