Seoul shares slump nearly 2 pct on rate hike woes

SEOUL– Seoul stocks retreated nearly 2 percent Friday amid expectations of further rate hikes in the United States. The Korean won fell against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) retreated 43.04 points, or 1.83 percent, to close at 2,313.69 points.   Trading volume was moderate at about 360 million … Read more

656 police personnel to be deployed for crowd control on Christmas

SEOUL– More than 600 police personnel will be deployed for crowd control in major tourist spots across the country for Christmas, which falls on the upcoming weekend, police said Friday.   A total of 656 police officers and eight riot squads will be mobilized for the duty in the 37 spots, such as Myeongdong, a … Read more

PM calls for expanding cooperation with Romania

SEOUL– Prime Minister Han Duck-soo called Friday for expanding cooperation with Romania to areas such as electric vehicles and the digital industry.   Han also said during a South Korea-Romania business roundtable in Seoul that he believes there are “infinite” possibilities for cooperation in Romania’s infrastructure projects.   “South Korea has the same nuclear reactors … Read more

Korean period thriller ‘The Night Owl’ tops 3 mln admissions

SEOUL– The South Korean period thriller “The Night Owl” has surpassed 3 million admissions in local theaters, its distributor said Friday.   The movie hit the milestone, a month after its release on Nov. 23 and two weeks after passing its break-even point of 2.1 million admissions, NEW said.   The thriller starring Ryu Jun-yeol … Read more

S. Korean Bond Yields on Dec. 23, 2022

Today (%) Previous Session(%) Change (BP)   1-year TB 3.769 3.742 +2.7   2-year TB 3.743 3.701 +4.2   3-year TB 3.623 3.567 +5.6   10-year TB 3.552 3.495 +5.7   2-year MSB 3.783 3.720 +6.3   3-year CB (AA-) 5.215 5.192 +2.3   91-day CD 4.030 4.030 0.0       Source: Yonhap News … Read more

S. Korea hails UNSC resolution demanding end of violence in Myanmar

SEOUL– The South Korean government on Friday welcomed the adoption of a historic United Nations Security Council (UNSC) resolution expressing “deep concern” about the “ongoing state of emergency” imposed by the military in Myanmar and calling for an immediate end to the internal strife.   In a statement, the foreign ministry said the government “welcomes … Read more

Yoon’s office voices dissatisfaction with compromise on budget

SEOUL– The office of President Yoon Suk Yeol said Friday the government will do its best to overcome the economic crisis even though it is dissatisfied with the rival parties’ compromise over next year’s budget.   The ruling People Power Party (PPP) and the main opposition Democratic Party (DP) reached the compromise Thursday, weeks after … Read more