South Korea and the United States held working-level diplomatic talks in Hawaii to review progress in the implementation of their latest summit agreement, Seoul's foreign ministry said Friday. Ko Yun-ju, the ministry's director general for North American affairs, and Mark Lambert, US deputy assistant secretary of state for Japan and South Korea, attended the third Bilateral Policy Dialogue (BPD) held on Thursday (local time), the ministry said. The two sides discussed pending diplomatic and s

Foreign Affairs Oct. 15, 2021

South Korea's military reported nine additional COVID-19 cases Friday, bringing the total caseload among its personnel to 1,960, the defense ministry said. Six Army soldiers, including five trainees at boot camps, and a Navy member tested positive for the virus, according to military data. A civilian employee of the defense ministry in Seoul was also found to have contracted the virus. Since last week, three COVID-19 cases, including the latest, have been reported from the ministry compound.

Defense Oct. 15, 2021

The top nuclear envoys of South Korea, the United States and Japan will meet trilaterally in Washington next week to discuss joint efforts to bring North Korea back to dialogue, the foreign ministry said Friday. The planned talks among Seoul's chief nuclear negotiator, Noh Kyu-duk, and his US and Japanese counterparts, Sung Kim and Takehiro Funakoshi, come as Seoul is stepping up diplomacy to salvage its peace drive following a recent series of North Korean missile launches, including a hyperso

Foreign Affairs Oct. 15, 2021

The real estate investment trust (REIT) unit of major bank holding firm NH Financial Group Inc. said Friday it is seeking to get listed on the South Korean main stock market in November. NH All One REIT said it began its initial public offering (IPO) process as its registration statement, which was filed with the country's financial watchdog late last month, came into effect. The company said it is planning to sell 28.1 million shares and raise 140.5 billion won ($119 million), with its IPO pr

Economy Oct. 15, 2021

WASHINGTON -- South Korea's finance minister on Thursday voiced concerns about the US's request for Korean chipmakers to share information on their supply chains. Finance Minister Hong Nam-ki relayed Korean chipmakers' concerns about Washington's request during his meeting with US Treasury Secretary Janet Yellen in Washington D.C., according to his ministry. The meeting was held to discuss bilateral and global economic issues, including global supply chain disruptions. It marked their first ga

Economy Oct. 15, 2021

South Korea's exports of automobiles fell more than 20 percent last month, ending eight months of on-year growth, amid the extended global supply shortage of automotive chips and fewer working days, data showed Friday. Outbound shipments of automobiles reached 151,689 units in September, down 20.7 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, exports also marked a 6.1 percent on-year decrease to $3.56 billion, the

Economy Oct. 15, 2021

The Bank of Korea will continue adjusting its accommodative monetary policy and determine the timing of another rate hike in a way that could ease "financial imbalances" caused in part by rising household debt, Gov. Lee Ju-yeol said Friday. Lee made the remarks days after the central bank kept its policy rate unchanged at 0.75 percent for October but hinted at the possibility of an additional rate increase before the end of this year to rein in inflation and household debt. "Fin

Economy Oct. 15, 2021

South Korea's daily new COVID-19 cases stayed in the 1,000s for the seventh straight day Friday as the government announced eased social distancing rules ahead of a gradual return to normal life. The country added 1,684 more COVID-19 cases, including 1,670 local infections, raising the total caseload to 339,361, according to the Korea Disease Control and Prevention Agency (KDCA). The daily number of COVID-19 cases has stayed in the quadruple digits since July 7. The country added eight more

Social Affairs Oct. 15, 2021

South Korea plans to resume discount coupon programs aimed at boosting private spending as the country is preparing to move into a phase of "living with COVID-19" in early November, a senior government official said Friday. Except for food delivery via apps, the country suspended the coupon programs for sports, accommodations, tourism, cultural performances, and railway and bus service due to the resurgence of virus cases. The government earlier said the resumption will depend on the

Economy Oct. 15, 2021

South Korean stocks opened higher Friday, tracking overnight advances on Wall Street, with tech shares leading the market gains. The benchmark Korea Composite Stock Price Index (KOSPI) rose 27.4 points, or 0.92 percent, to 3,016.04 in the first 15 minutes of trading. The tech-heavy Nasdaq composite added 1.73 percent to 14,823 points amid hopes of strong corporate earnings in the third quarter, and the Dow Jones Industrial Average climbed 1.56 percent to 34,913 points. In Seoul, market bell

Market Oct. 15, 2021

President Moon Jae-in and first lady Kim Jung-sook on Friday both received a COVID-19 booster shot, in line with a guidance from health authorities, the presidential office Cheong Wa Dae said. The Korea Disease Control and Prevention Agency (KDCA) began administering booster shots earlier this week for people aged 60 and older as well as medical workers, as part of the nation's strategy to ensure maximum protection for the public. Moon and Kim qualified for a third shot of COVID-19 vaccine u

Politics Oct. 15, 2021

WASHINGTON -- The United States continues to be prepared to meet with North Korea without preconditions as it awaits the North's response to its "specific proposals," a State Department spokesperson said Thursday. Ned Price also stressed that the US remains actively engaged in diplomacy with its allies to discuss ways to enhance their collective security. "We do stand prepared to meet with the DPRK without preconditions. We have made, in fact, specific proposals to the DPRK and

Foreign Affairs Oct. 15, 2021

WASHINGTON -- The United States must reassure its allies of American commitment to help defend them against possible North Korean attacks to prevent key strategic alliances from falling apart, a former US ambassador to NATO said Thursday. Ivo Daalder, currently serving as president of the Chicago Council on Global Affairs, an independent global affairs think tank, also argued US failure to do so may encourage its allies to consider having nuclear capabilities themselves. "So one of the th

Foreign Affairs Oct. 15, 2021

The government decided Friday to raise the private gathering size limit to eight people for the capital area and 10 for elsewhere before the country shifts to a "living with COVID-19" scheme next month, Prime Minister Kim Boo-kyum said. Under the renewed plan that will go into effect Monday, the greater Seoul area will remain under the toughest social distancing of Level 4, while the rest of the country will be under Level 3, Kim said during an interagency meeting on the government's

Politics Oct. 15, 2021

A major umbrella labor union said Thursday it will hold a large-scale rally in central Seoul next week when its members walk off their jobs for a one-day general strike to call for the enhancement of labor rights. The Korean Confederation of Trade Unions (KCTU), one of the country's two umbrella labor organizations, said it will push ahead with its plan to stage a strike on Wednesday next week. The KCTU said its members from Seoul, the surrounding Gyeonggi Province and the city of Incheon, we

Social Affairs Oct. 14, 2021