South Korea's foreign reserves declined in June as the US dollar's strength reduced the value of non-dollar assets, central bank data showed Monday. The nation's foreign reserves came to $454.1 billion as of end-June, down $2.35 billion from the previous month, according to the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion. The FX reserves decli

Economy July 5, 2021

World No. 2 Ko Jin-young has found the LPGA winner's circle for the first time in 2021. The South Korean star captured the Volunteers of America Classic at Old American Golf Club in The Colony, Texas, on Sunday (local time), beating Matilda Castren of Finland by one stroke. Ko shot a final round of 69, with four birdies and two bogeys, for the total of 16-under 268 at the par-71 course. This was Ko's first victory in 11th start this year, and her eighth overall. Ko has now recorded a victory

Sports July 5, 2021

Retail oil prices in South Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally, data showed Sunday. The average gasoline price nationwide was 1,600.9 won ($1.40) per liter in the fifth week of June, edging up 13.5 won from a week earlier, according to the data provided by the state-run Korea National Oil Corp. (KNOC). The gasoline price surpassed the 1,600 won level for the first time since November 2018. Diesel prices also gained

Economy July 4, 2021

Gyeonggi Province Gov. Lee Jae-myung garnered more support than former Prosecutor General Yoon Seok-youl in the latest poll on prospective presidential contenders released Sunday. In the survey by Global Research, Lee received 44.7 percent of support, while Yoon had 36.7 percent in a hypothetical one-on-one battle. The gap was larger than the poll's margin of error of 3.1 percentage points. It was conducted from last Wednesday to Friday on 1,000 people aged 18 and older and had a 95 percent co

Politics July 4, 2021

The South Korean baseball club Hanwha Eagles said Sunday they've released their struggling American first baseman Ryon Healy. Healy, a two-time 20-homer man in the majors, batted only .257/.306/.394 with seven home runs and 37 RBIs in 67 games this year, his first season in the Korea Baseball Organization (KBO). Among 54 qualified hitters, Healy ranked 43rd in batting average and 53rd in on-base percentage. Healy signed a one-year deal worth up to $1 million, the maximum amount allowed for a f

Baseball July 4, 2021

SEJONG -- The Green Climate Fund (GCF), the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved $500 million in funding for new projects and programs, according to Seoul's finance ministry Sunday. During a virtual meeting held from June 28 to July 2, the GCF's board discussed new funding and accreditation proposals. Launched in late 2010, the GCF aims to channel money from industrialized nations to developing countries to help them tac

Politics July 4, 2021

North Korea has not been cooperating with a United Nations-led global vaccine distribution program, failing to complete necessary paperwork to receive help against the coronavirus pandemic, a report said Sunday. Citing an anonymous source, Voice of America (VOA) reported on talks between North Korea and Gavi, a vaccine alliance that helps run COVAX, an international initiative aimed at global distribution of COVID-19 vaccines. According to the report, North Korea has completed only two of the

North Korea July 4, 2021

Samsung SDI Co.'s electric vehicle (EV) battery business is expected to have turned to operating profit for the first time in the second quarter on strong demand by global automakers, analysts said Sunday. Samsung SDI Co., the battery arm of Samsung Electronics Co., was forecast to have posted 3.4 trillion won ($3 billion) in sales and 252.7 billion won in operating profit in the April-June period, according to the data from 15 local brokerage houses compiled over the past month. Samsung SDI's

Industry July 4, 2021

South Korea's oceans ministry said Sunday it plans to launch a new platform to provide the latest information on the radiation level in local seas to the public amid growing safety concerns over Tokyo's planned release of contaminated water. "We plan to minimize the public's concerns over the safety of our waters and seafood, and bolster monitoring on the radiation level of the ocean," the Ministry of Oceans and Fisheries said in a statement. In April, the Japanese government said it

Technology July 4, 2021

Hyundai Motor Group's eco-friendly vehicle sales in South Korea jumped nearly 40 percent in the first half of this year compared with a year earlier on strong demand for hybrid models and new electric vehicles, its sales data showed Sunday. The combined domestic sales of eco-friendly models by the Korean automotive group's two affiliates -- Hyundai Motor Co. and Kia Corp. -- stood at 94,435 units in the January-June period, up from 67,798 units a year ago, according to their sales data. Among

Industry July 4, 2021

South Korea's daily new virus cases stayed in the 700s for the second day Sunday, while authorities tighten their guard against a virus resurgence in the greater Seoul area. The country reported 743 more COVID-19 cases, including 662 local infections, raising the total caseload to 160,085, the Korea Disease Control and Prevention Agency (KDCA) said. The latest figure is down from 794 on Saturday and 826 on Friday, a nearly six-month high due to the sharp spike in new cases in the Seoul metropo

Social Affairs July 4, 2021

Seoul has suffered its largest population decline in five years, with the soaring housing prices likely driving people out of the capital city, data showed Sunday. According to figures compiled by the Ministry of Interior and Safety and provided to People Power Party Rep. Tae Young-ho, Seoul had a population of just over 9.56 million as of June. Compared to a year ago, that represented a drop of 154,856, or 1.59 percent. It is the largest annual drop in five years. Seoul had almost 9.99 millio

Social Affairs July 4, 2021

South Korea's major umbrella labor union pressed ahead with a massive street rally Saturday in central Seoul despite the government's warning of a stern response. Around 8,000 members of the Korean Confederation of Trade Unions gathered in the Jongno district, ignoring the government's call to cancel the assembly feared to affect the fight against COVID-19. The country is struggling to contain a resurgence of coronavirus cases. They had planned to hold it in the western Seoul area of Yeouido

Social Affairs July 3, 2021

Global superstar BTS has set another record on YouTube, with its music video for the 2017 song "DNA" earning 1.3 billion views on YouTube, the band's agency said Saturday. YouTube views for "DNA," released in September 2017, topped 1.3 billion around midnight Friday, becoming the seven-piece act's first music video to reach the milestone, according to Big Hit Entertainment. It took just five months for the music video to add an extra 100 million views after it broke 1.2 b

K-pop July 3, 2021

South Korea has confirmed 794 new COVID-19 cases, local health authorities announced Saturday, amid worries about a potential fourth wave of large-scale infections nationwide. The latest figure is down from 826 recorded the previous day, but it marked the second consecutive day that the nation's daily new virus cases stayed at around 800. Among the additional infections, 748 were locally transmitted and 46 imported, according to the Korea Disease Control and Prevention Agency. The total case

Social Affairs July 3, 2021