SEOUL– Seoul shares extended their losing streak to a fifth day Thursday amid concerns over the U.S. Federal Reserve may keep its aggressive policy tightening following solid economic data. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 11.73 points, or 0.49 percent, to 2,371.08. Trading … Read more
SEOUL– The main opposition Democratic Party (DP) said Thursday it will accept the government’s proposal to extend a freight rate system guaranteeing minimum wages for truckers amid growing concerns over a nationwide strike that has disrupted supply chains. The government and the People Power Party (PPP) announced last month that they will extend the … Read more
SEOUL– The chief nuclear envoys of South Korea, the United States and Japan will meet in Indonesia next week to discuss the North Korea issue, Seoul’s foreign ministry said Thursday. Kim Gunn, special representative for Korean Peninsula peace and security affairs, will have back-to-back bilateral and trilateral meetings with his American and Japanese counterparts, … Read more
SEOUL– South Korea on Thursday issued an interagency advisory against the hiring of North Korean information technology (IT) workers with disguised nationalities amid reports that the country is using them as a source of foreign currency earnings. In the advisory, the foreign, unification and ICT ministries called on local companies to strengthen background checks … Read more
SEOUL– South Korea posted a current account surplus for the second consecutive month in October, but the amount was much smaller than the previous year amid expanded imports and outbound travel, central bank data showed Friday. The country’s current account surplus came to US$880 million in October, according to the preliminary data from the … Read more
SEOUL– Senior diplomats of South Korea and the United States will hold economic talks in Washington, D.C., next week to discuss the Inflation Reduction Act (IRA) and other pending issues, the foreign ministry said Thursday. Second Vice Foreign Minister Lee Do-hoon will visit the U.S. from Sunday to Wednesday and attend the Senior Economic … Read more
SEOUL– South Korea’s parliament on Thursday ratified a United Nations convention aimed at protecting people from enforced disappearance. The National Assembly passed the ratification motion for the International Convention for the Protection of All Persons from Enforced Disappearance (CPED), according to the foreign ministry. The convention is one of the U.N.’s nine core … Read more
SEOUL– President Yoon Suk-yeol hosted a dinner for the national football team on Thursday, saying he was deeply moved by their determined spirit that took them to the knockout stage of the FIFA World Cup in Qatar. The dinner was held at the former presidential compound of Cheong Wa Dae, with the attendance of … Read more