SEOUL– North Korea launched one short-range ballistic missile toward the East Sea on Wednesday, South Korea’s military said. The Joint Chiefs of Staff said it detected the launch from an area in or around Sukchon, South Pyongan Province, at around 3:31 p.m. Defense authorities are analyzing related details including the missile’s speed, altitude … Read more
SUWON, South Korea– The provincial government of Gyeonggi, which surrounds Seoul, lost a legal battle Wednesday to make a Han River bridge toll-free. The Gyeonggi government has pushed to abolish tolls on the Ilsan Grand Bridge, which connects the province’s Gimpo and Goyang cities, and is the only bridge collecting tolls among 28 bridges … Read more
SEOUL– South Korea’s financial regulator said Wednesday that it has decided to take punitive action against Woori Bank for misspelling of funds run by now-defunct Lime Asset Management. The Financial Services Commission (FSC) said Woori Bank will be suspended from selling new private equity fund products for three months. The FSC also decided … Read more
SEOUL– President Yoon Suk-yeol met with Catholic leaders Wednesday to seek their advice on how to help the nation emerge from the tragedy of the Itaewon crowd crush, his office said. The meetings with Archbishop Peter Chung Soon-taick, the archbishop of Seoul, and Cardinal Andrew Yeom Soo-jung came after the president held similar sessions … Read more
SEOUL– Korea Investment Holdings Co. on Wednesday reported its third-quarter net income of 166.9 billion won (US$122.3 million), down 77.8 percent from a year earlier. Operating income for the July-September period was 182.3 billion won, down 56.4 percent from a year ago, the company said in a regulatory filing. Sales rose 101.4 percent to … Read more
SEOUL– President Yoon Suk-yeol will visit Cambodia and Indonesia starting later this week to attend a series of regional summits involving the Association of Southeast Asian Nations (ASEAN) and the Group of 20 (G-20), his office said Wednesday. Yoon will leave for Phnom Penh on Friday and attend a South Korea-ASEAN summit, an ASEAN … Read more
SEOUL– HMM Co., South Korea’s top container shipper, said Wednesday its third-quarter earnings rose more than 13 percent on-year despite worries about an industry slump. Consolidated net profit came to 2.61 trillion won (US$1.91 billion) in the July-September period, up 13.3 percent from a year earlier, the company said in a regulatory filing. … Read more
SEOUL– The main opposition Democratic Party (DP) and two minor progressive parties submitted a joint request Wednesday for a parliamentary investigation into the Itaewon crowd crush despite opposition from the ruling party. The DP, the Justice Party (JP) and the Basic Income Party submitted the request to the National Assembly’s Bills Division on Wednesday … Read more