Seoul shares opened lower Wednesday as investors locked in profits following a two-session winning streak despite overnight Wall Street gains. The benchmark Korea Composite Stock Price Index fell 2.17 points, or 0.08 percent, to 2,863.92 in the first 15 minutes of trading. Overnight, Wall Street shares rose on rising expectations for a rate cut by the Federal Reserve. The Dow Jones Industrial Average jumped 1.9 percent to hit a fresh high, while the S&P 500 and Nasdaq composite gained 0.2 pe

The government is taking administrative action against Saudi Arabian airline Saudia for suspending its direct flights to South Korea without permission from aviation authorities, according to officials Wednesday. The Ministry of Land, Infrastructure and Transport issued a prior notice of administrative measure to Saudia on Monday. Saudia has been asked to submit their reasons for the suspension and their future plans by July 30. The ministry will convene an administrative review committee to dis

A former US national security advisor said Tuesday he is looking forward to a "big" contribution by South Korea in reference to ongoing negotiations between Seoul and Washington over the cost sharing for stationing the 28,500-strong US Forces Korea. Robert O'Brien, who served as national security advisor for then President Donald Trump from 2019-2021, made the remarks as the allies have been engaging in negotiations over a new cost-sharing deal, called the Special Measures Agreeme

Foreign Minister Cho Tae-yul met with Pamela Melroy, the deputy chief of the US National Aeronautics and Space Administration, on Tuesday to discuss space cooperation between the two countries, according to the foreign ministry. During the meeting in Seoul, Cho expressed hope for active cooperation between the national space agency, the Korea AeroSpace Administration, or KASA, and NASA. KASA was launched in Sacheon, approximately 300 kilometers south of Seoul, on May 27. "Space cooperation

President Yoon Suk Yeol on Tuesday ordered an increased emergency response posture against the ongoing heavy downpours, giving instructions for a thorough evacuation of affected residents, according to his office. The order was issued following briefings on the forecast of heavy concentrated rainfall, including in the wider Seoul area, said Jeong Hye-jeon, a presidential spokesperson, in a written press briefing. Earlier in the day, Prime Minister Han Duck-soo also instructed relevant ministries

With controversy surrounding the Korea Football Association's hiring of the new men's national team head coach not dying down, both the Sports Ministry and the state-run Korea Sports Ethics Center have said they will investigate the national soccer body for any procedural issues. The KFA has been under fire since appointing Hong Myung-bo as head coach of the men's national team on July 7. The KFA had spent the previous five months trying to find a replacement for Juergen Klinsmann

A lawyer for first lady Kim Keon Hee said Tuesday it is true that Kim ordered her aide to return a Dior bag she received as a gift from a pastor on the same day it was given, asking media to refrain from "excessive speculation" on the matter. Lawyer Choi Ji-woo released a press release, expressing hope that the media will refrain from "excessively speculative and malicious articles" on the first lady. The scandal centers on allegations that Kim illegally received a Dior handb

Kiwoom Heroes manager Hong Won-ki said Tuesday he welcomed the introduction of the new pitch-calling device that he feels will help speed up games. The Korea Baseball Organization has distributed PitchCom transmitters and receivers to all 10 clubs, and they're available for use starting with Tuesday's games. Catchers can use the transmitter to give pitch signals to pitchers instead of using conventional finger signs, and pitchers will be able to listen to the call via the receiver worn

Seoul shares closed slightly higher Tuesday as traders were trying to digest the effect of Donald Trump's possible victory in the US presidential election on the market. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 5.17 points, or 0.18 percent, to close at 2,866.09. Trade volume was slightly heavy at 667.5 million shares worth 12.4 trillion won ($8.95 billion), with losers outnumbering winners 498 to 356. Foreign investors and instituti

North Korean leader Kim Jong-un called for nurturing offshore fish farming in the port city of Sinpho, state media said Tuesday, as the North seeks to develop backward provinces to narrow widening economic gaps among regions. Kim visited a construction site for an offshore fish farm in the coastal city in South Hamgyong Province on Monday and presided over a meeting where developing the envisioned farm "into a new fine model of shallow-sea culture" was discussed, according to the Korea

The industry ministry said Tuesday it has asked the country's four major oil refiners to refrain from excessive price increases as part of efforts to combat lingering inflation. Second Vice Industry Minister Choe Nam-ho made the remark during his meeting with representatives from SK Energy Co., GS Caltex Corp., S-Oil Corp. and HD Hyundai Oilbank, according to the Ministry of Trade, Industry and Energy. "Although consumer prices have slowed to some extent since April, perceived inflatio

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street buoyed by expectations for Donald Trump's victory in the US presidential election. The benchmark Korea Composite Stock Price Index rose 6.95 points, or 0.24 percent, to 2,867.87 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average jumped 0.53 percent to hit a fresh high, while the S&P 500 and Nasdaq composite rose 0.28 percent and 0.4 percent, respectively, following an assassination a

Former President Donald Trump on Monday announced Sen. J.D. Vance of Ohio as his vice presidential running mate, as the Republican Party kicked off a national convention to officially crown Trump as the GOP nominee for the November general election. Trump made the announcement on the 39-year-old critic-turned-supporter in a social media post as GOP delegates and others gathered at the four-day Republican National Convention in Milwaukee, the largest city in the battleground state of Wisconsin. V

The delinquency ratio on loans extended by banks in South Korea rose for a second consecutive month in May, data showed Tuesday. The delinquency ratio on banks' won-denominated loans stood at 0.51 percent at end-May, up 0.03 percentage point from a month earlier, according to the data from the Financial Supervisory Service. The rise follows a 0.05 percentage-point on-month increase in April. The May reading marks a 0.15 percentage-point rise from a year earlier. The amount of newly overdue

South Korea's import prices rebounded in June as a rise in prices of petrochemical goods and raw materials offset a fall in oil prices, central bank data showed Tuesday. The import price index rose 0.7 percent last month from a month earlier following a 1.3 percent on-month dip the previous month, according to the preliminary data from the Bank of Korea (BOK). From a year earlier, prices also rose 9.7 percent last month following a 4.7 percent on-year advance the previous month, the data sh

The Republican Party formally nominated former President Donald Trump as the GOP standard-bearer for the Nov. 5 general election on Monday, as a weekend assassination attempt against him has brought more voter attention to his campaign and further cemented his support base. GOP delegates crowned Trump as the presidential nominee for a third time in a roll call vote as the Republican Party Convention kicked off its four-day run in Milwaukee in the battleground state of Wisconsin, two days after h

Kentucky Gov. Andy Beshear met with officials from South Korea's major electric vehicle (EV) battery and materials companies in a bid to attract additional investment to the US state, industry sources said Monday. The Kentucky governor came to Korea on Sunday for meetings on Monday with executives of car battery maker SK On Co. and Lotte Chemical Corp., which makes EV battery materials, according to the sources. He also plans to meet officials from LG Chem Ltd., which owns about an 80 perce

Seoul shares closed slightly higher Monday as investors digested the aftermath of the assassination attempt of former US President Donald Trump over the weekend. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 3.92 points, or 0.14 percent, to 2,860.92. Trade volume was moderate at 418 million shares worth 12 trillion won ($8.67 billion), with gainers outnumbering losers 491 to 381. Foreigners sold a net 80.7 billion won, while individuals offlo

A civic group filed a complaint Monday against President Yoon Suk Yeol for vetoing a bill mandating a special counsel investigation into the military's response to a Marine's death. The civic group, known as the "National Action for Judicial Justice," filed the complaint with the Corruption Investigation Office for High-ranking Officials, accusing Yoon of abusing his power to block the appointment of a special counsel to look into allegations the presidential office and the d

As he begins his second tour of duty as head coach of the South Korean men's national football team, Hong Myung-bo asked for support from disgruntled fans Monday. Hong traveled to Europe on Monday to interview candidates for assistant coaching positions on his backroom staff. He's scheduled to make stops in Spain and Portugal in what could be a weeklong trip. It will be his first official activity as the men's national team boss since the Korea Football Assciation announced Saturd