Articles by Yonhap
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Seoul mayor grilled by prosecutors over allegations of election law violation
Seoul Mayor Oh Se-hoon was summoned by prosecutors on Saturday for questioning about allegations that he spread false information during his mayoral by-election campaign in April. Oh arrived at the Seoul Central District Prosecutors Office around 10 a.m. before being grilled as a suspect about his remarks on a scandal-plagued development project called Pi-City in southern Seoul. "I'm very sorry to the people for being investigated like this. I'll make statements confidently and wait for t
Social Affairs Oct. 2, 2021
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Scandal-tainted lawmaker offers to resign from National Assembly
Rep. Kwak Sang-do, an independent lawmaker who defected from the main opposition People Power Party a week ago, offered to resign from his parliamentary seat on Saturday amid mounting suspicions over his son receiving an unreasonably huge sum of severance pay from a firm at the center of a massive land development scandal. "I can no longer work as a member of parliament amid widespread misunderstanding and distrust toward me," Kwak said in a news conference at the National Assembly.
Politics Oct. 2, 2021
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BTS-Coldplay collaboration 'My Universe' debuts at No. 3 on British Official Singles Chart
"My Universe," the collaboration single by K-pop sensation BTS and British rock band Coldplay, has debuted at No. 3 on the British Official Singles Chart Top 100, on par with two previous highest rankings for the South Korean group. The song, which was released Sept. 24, placed third on the chart dated Oct. 1-7, the Official Charts website said Friday (British time). "It's the week's biggest seller across both digital downloads and CD, notching up 27,000 pure sales over the last
K-pop Oct. 2, 2021
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Seoul stocks likely to face volatility next week: analysts
South Korean stocks are likely to face volatility next week amid concerns about energy shortages in China, as well as lingering uncertainties over the bond yield rates in the United States, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 3,019.18 points Friday, down 3.4 percent from a week ago. The weekly loss came as US political wrangling about raising its debt ceiling weakened investor sentiment. Spiking Treasury yields in the world's largest economy also f
Market Oct. 2, 2021
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New virus cases remain in 2,000s despite beefed-up vigilance
South Korea's daily coronavirus cases stayed in the 2,000s Saturday, though authorities kept tight vigilance with the extension of stringent virus curbs ahead of back-to-back extended weekends later this month. The country reported 2,248 new COVID-19 cases, including 2,221 local infections, bringing the total caseload to 316,020, according to the Korea Disease Control and Prevention Agency. There were seven more deaths from COVID-19, raising the death toll to 2,504. The latest tally was down f
Social Affairs Oct. 2, 2021
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Seoul stocks slump on US inflation worries
South Korean stocks dipped Friday on concerns about early inflation in the United States and the extended virus curbs at home. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) retreated 49.64 points, or 1.62 percent, to close at 3,019.18 points. Trading volume was moderate at about 845 million shares worth some 12.8 trillion won ($10.8 billion), with losers outnumbering gainers 779 to 125. Foreigners sold a net 300 billion won, while retail inves
Market Oct. 1, 2021
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SsangYong's Sept. sales plunge 40% on lower demand
SsangYong Motor Co. said Friday its sales plunged 40 percent last month from a year earlier on weaker domestic demand. SsangYong Motor sold 5,950 vehicles in September, down from 9,834 units a year earlier, the company said in a statement. Domestic sales dropped 53 percent to 3,859 units last month from 8,208, while exports rose 29 percent to 2,091 units from 1,626 during the same period, it said. From January to September, sales fell 17 percent to 61,854 autos from 74,707 during the same period
Industry Oct. 1, 2021
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S. Korean builder sentiment rebounds in September
South Korea's construction business sentiment bounced back in August from a month earlier due largely to seasonal factors, a poll showed Friday. The construction business survey index (CBSI) came to 94.9 last month, up 5.5 points from the previous month, according to the survey by the Construction and Economy Research Institute of Korea. However, the September figure remains below par. A reading below 100 indicates builders are pessimistic about the current state of the construction industry and
Economy Oct. 1, 2021
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Pandemic causes W8.82tr in damage to S. Korean culture, sports, tourism sectors
The novel coronavirus pandemic has caused a combined 8.82 trillion won ($7.4 billion) worth of damage to South Korea's culture, sports and tourism sectors since it broke out early last year, a government report showed Friday. The amount of consumer spending in the tourism and leisure sector decreased by an estimated 39.3 trillion won from January 2020-June 2021 when Korea's first COVID-19 case was reported, according to the report by the Ministry of Culture, Sports and Tourism submitted to parli
Economy Oct. 1, 2021
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Unification minister calls for Europe's role in peace process, humanitarian assistance to N. Korea
Unification Minister Lee In-young on Friday asked Europe to support South Korea's efforts in advancing the peace process on the peninsula, his office said Friday. Lee met with Jutta Urpilainen and Janez Lenarcic of the European Commission in Belgium on Thursday and requested Europe play a "more active role" in providing humanitarian assistance to the North and in building trust among the two Koreas and the United States. The two sides discussed "creative ways" to cooperate an
North Korea Oct. 1, 2021
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[Newsmaker] Prosecutors arrest key suspect in Seongnam land development scandal
A key figure in the snowballing land development scandal in Seongnam, just south of Seoul, was arrested Friday for questioning over allegations that Gyeonggi Gov. Lee Jae-myung, the ruling Democratic Party's leading presidential contender, gave business favors to certain developers. Yoo Dong-gyu, former acting president of Seongnam Development Corp., was apprehended by prosecutors at a hospital Friday morning and was taken to the Seoul Central District Prosecutors Office. He was asked to appear
Politics Oct. 1, 2021
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Moon voices strong confidence in defense posture after N. Koera missile test
President Moon Jae-in voiced strong confidence in South Korea's defense posture Friday, saying he proposed an end-of-war declaration with North Korea based on such readiness and vowing to deal sternly with any threats to the country. His Armed Forces Day speech came hours after North Korea test-fired an anti-aircraft missile in the third missile launch in about two weeks. Earlier this week, the North tested what it claimed was a "hypersonic" missile. "I have pride in our solid sec
Politics Oct. 1, 2021
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Top nuke envoy returns from Indonesia after N. Korea talks with US
South Korea's chief nuclear envoy, Noh Kyu-duk, returned home from Indonesia Friday after holding talks with his US counterpart, Sung Kim, on efforts to resume dialogue with North Korea. "We've discussed various ways for humanitarian cooperation projects with North Korea, and we did again this time, on (the provision) either jointly by the South and the US, or through international organizations," Noh told reporters at the airport upon arrival. "We also explained our position on t
Diplomatic Circuit Oct. 1, 2021
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N. Korea remains unresponsive to Seoul's calls after Kim's offer to restore hotlines
North Korea remained unresponsive to South Korea's regular calls via military and liaison hotlines Friday morning after leader Kim Jong-un offered to restore severed cross-border communication lines in early October. "North Korea did not answer the opening call through the inter-Korean liaison office at 9 a.m.," a unification ministry official said. The calls through military hotlines also went unanswered, another official said. Leader Kim told a session of the rubber-stamp parliament
North Korea Oct. 1, 2021
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Rom-com 'Hometown Cha-Cha-Cha' hits top 10 on world's popular TV show rankings
South Korean TV series "Hometown Cha-Cha-Cha" is gaining popularity on global online streaming platform Netflix, adding to a recent bullish run worldwide of Korea-made content led by the survival drama "Squid Game." The romantic comedy, aired on local cable channel tvN and simultaneously available for international streaming on Netflix, placed ninth on the most-viewed TV show rankings, according to streaming analytics firm FlixPatrol on Friday. It is the second South Korean s
Television Oct. 1, 2021
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