SEOUL– State-run companies will sell assets worth 14.5 trillion won (US$10.9 billion) by 2027 in line with efforts to improve their fiscal health, the finance ministry said Friday. The asset sale plan includes selling off property assets worth 11.6 trillion won owned by 124 organizations, according to the Ministry of Economy and Finance. … Read more
SEOUL– The state-run Korea Electric Power Corp. said Friday its net losses deepened in the third quarter from a year earlier on higher fuel costs and limited electricity rate hikes. The consolidated net losses widened to 7.53 trillion won (US$5.66 billion) in the July-September period, compared with a loss of 936.7 billion won a … Read more
SEOUL– A special investigation team on Friday banned Yongsan Ward office chief Park Hee-young from leaving the country due to an investigation into the deadly crowd crush in Itaewon that killed at least 156 people, officials said. The overseas travel ban came as the Yongsan Ward office that administers the Itaewon neighborhood has come … Read more
SEOUL– South Korea has tried to notify North Korea of its plan to return the body of a presumed North Korean woman found near the inter-Korean border in July, Seoul’s unification ministry said Friday. The body was discovered around the Imjin River on July 23 and related investigations showed that she is believed to … Read more
SEOUL– The death toll from the crowd crush in Seoul’s Itaewon neighborhood increased by one to 157, authorities said Friday. The additional victim is a soldier who was pronounced brain dead and donated his organs. A total of 131 South Koreans and 26 foreigners were killed during the crowd surge in the popular … Read more
PHNOM PENH– President Yoon Suk-yeol held a summit with Cambodian Prime Minister Hun Sen on Friday and agreed to further expand bilateral relations on the occasion of the 25th anniversary of the reestablishment of diplomatic ties, his office said. The two leaders met on the sidelines of regional summits involving the Association of Southeast … Read more
PHNOM PENH– President Yoon Suk-yeol held a summit with Thai Prime Minister Prayut Chan-o-cha on Friday and adopted a joint action plan calling for developing bilateral relations on the occasion of the 10th anniversary of the two countries’ strategic partnership, Yoon’s office said. The two leaders met on the sidelines of regional summits involving … Read more
PHNOM PENH– President Yoon Suk-yeol unveiled South Korea’s new Indo-Pacific strategy on Friday, with a focus on promoting freedom, peace and prosperity in a region that has gained increasing strategic importance amid the U.S.-China rivalry. Yoon announced the strategy shortly after arriving in Cambodia to attend a series of summits involving the Association of … Read more