South Korean stocks tumbled 4 percent Wednesday as renewed hostility between the United States and Iran pushed up crude prices and fueled inflation worries. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index closed at 6,562.72, down 273.08 points, or 3.99 percent, ending a two-session winning streak. Overnight, the US launched a new round of airstrikes against Iranian targets around the Strait of Hormuz, driving oil prices higher and fanning inflation worr

A tugboat capsized in waters off the southeastern city of Busan on Wednesday, with only one of eight crew members aboard rescued so far, the Coast Guard said. The 286-ton vessel overturned in the waters just southeast of Busan at about 1:30 p.m., prompting the Coast Guard to dispatch rescue personnel and equipment to the scene. One of the vessel's crew members was rescued by a cargo ship passing near the area. Oceans Minister Hwang Jong-woo instructed authorities to mobilize all available resour

Prominent Hong Kong pro-democracy activist Joshua Wong pleaded guilty Wednesday to conspiracy to collude with foreign forces to endanger national security under a Beijing-imposed law that has effectively stifled the city's once-thriving pro-democracy movement. It was the second prosecution of Wong, a former student leader in the pro-democracy movement and one of its most recognizable faces, under the national security law introduced in Hong Kong in 2020 to quell massive anti-government protests

Chinese President Xi Jinping arrived in ‌Egypt Tuesday, his first visit to the Arab world's most populous nation in a decade, as countries across the Middle East reassess security and economic ties amid the fallout of the Iran war. The conflict has disrupted global energy markets and raised questions about whether regional countries ‌can count on the United States as a long-term security partner. Egyptian President Abdel Fattah el-Sissi welcomed Xi at Cairo International Airport, where they walk

A US aircraft carrier at the centre of controversy over conditions on board arrived in Thailand Wednesday for its first port call in nine months. The 5,000 sailors and Marines on board the USS Abraham Lincoln, arriving from the war in the Middle East, are headed for the Thai resort of Pattaya, a rest-and-recreation stop for US troops since the Vietnam War. Tugs guided the huge nuclear-powered carrier, dozens of warplanes lined up on its flight deck, towards the port of Laem Chabang on Wednesday

France said Tuesday the UN Security Council will vote this month on renewing the mandate of a panel monitoring sanctions on Iran, setting up a potential showdown with Russia and China, which oppose the sanctions regime and oversight mechanisms. The ‌mandate of the panel, which supports the work of the UN sanctions committee on Iran, is due to expire on Sept. 26, during the annual meeting of world leaders at the UN General Assembly. The US-Israeli war with Iran is ⁠expected to top the agenda. Out

A United Nations-backed armed force tasked with helping local police in Haiti to combat gangs will not be fully staffed by October as planned, its spokesperson said Tuesday. Announced by the UN Security Council last year, the Gang Suppression Force was expected to ramp up between April and October to a planned capacity of 5,500 uniformed personnel and 50 civilian staff. "We continue to receive new troops who will bolster the ranks," GSF spokesperson Igor Rugwiza told Radio Magik 9 in the Haitian

CARACAS, Venezuela (AP) — Venezuela's main airport partially resumed commercial operations Tuesday, nearly 10 weeks after two devastating earthquakes struck the South American country. A temporary area with metal structures was erected in the parking lot of the Simon Bolívar International Airport, located in the Maiquetía area of ​​La Guaira state, to serve passengers while repairs continue. The airport, about 20 kilometers north of Caracas, was closed after severe damage to its runways, control

President Lee Jae Myung said Wednesday it is unrealistic to pursue both economic growth and welfare expansion for now, stressing that priority should be placed on expanding the economic pie rather than welfare. The president wrote the message on his X account, uploading a media column that argued the government's budget bill for next year relatively lacked spending on "distribution." "Giving up growth while expanding welfare should never happen. Pursing the expansion of both growth and welfare i

Gender Minister nominee Yong Hye-in said Wednesday she is aware of concerns over retaining her National Assembly seat to take her newly nominated position, sidestepping questions about calls for her to resign from parliament. Yong has faced growing calls to give up her parliamentary seat after she earlier said she would keep her seat even after being appointed to the Cabinet position, breaking from convention for proportional representatives. "I will well prepare for the confirmation hearing and

Inflation in September is expected to ease from the previous month as a base effect fades, but underlying price pressures will likely persist, particularly in core items, the central bank said Wednesday. "In August, the consumer price index rose at a faster rate than the previous month due to a base effect resulting from discount programs by a telecommunications company last year," Deputy Gov. Lee Ji-ho said during a meeting to review inflation trends. "In September, consumer price growth is exp

The veterans ministry said Wednesday it is seeking an 8 percent hike in its 2027 budget to expand veterans benefits, support independence fighters' descendants and host an international sports event for injured soldiers. The Ministry of Patriots and Veterans Affairs said it has proposed 7.22 trillion won ($5.25 billion) for next year's budget, up by 532 billion won from this year's 6.68 trillion won. The draft proposal calls for raising basic compensation for war veterans and allowances for pers

South Korea's consumer price increase for August, which came to 3.1 percent, is estimated to have been around 2.5 percent when excluding a surge in mobile communication bills following a low base, a senior financial official said Wednesday. "In August last year, there was a temporary 50-percent discount in mobile bills, which served as a base effect, leading to a 3.1 percent rise in consumer prices this month," Kang Gi-lyong, a senior financial official, said during a government meeting. In Augu

South Korean stocks started sharply lower Wednesday, tracking losses on Wall Street, as the United States and Iran continued exchanging military attacks, which pushed up oil prices. The benchmark Korea Composite Stock Price Index fell 184.73 points, or 2.7 percent, to 6,651.07 as of 9:15 a.m. Overnight, major US stocks closed lower as a new round of US military strikes on Iran pushed up oil prices and fueled concerns over inflation in the world's largest economy. Inflation worries stoked a gover

South Korea's fair trade watchdog has carried out another on-site probe into the South Korean arm of US-listed Coupang Inc. in connection with a separate case following a failed inspection attempt last month, industry sources said Wednesday. According to the sources, officials from the Fair Trade Commission conducted an on-site inspection of Coupang's headquarters in Seoul on the previous day, with the company cooperating with the probe. The investigation centered on whether Coupang unfairly obs