South Korea's exports of pharmaceutical and bio technologies surged from a year earlier in the first half of the year, data showed Saturday. In the first six months of the year, the country exported 4.5 trillion won ($3.26 billion) worth of pharmaceutical and bio technologies, up 55 percent from 2.9 trillion won for the same period last year, according to the data from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The number of export deals dropped to seven from 12 over

The financial regulator has lowered maximum rates for loans extended by secondary lenders, such as savings banks, to people with mid- and low-level credit scores, market sources said Saturday. According to the sources, the Financial Services Commission has cut the maximum rate on loans from mutual finances to 10.22 percent in the second half of the year from the 10.5 percent applied in the first six months. The maximum rate for midrange interest rate loans from savings banks has also been reduce

Tickets for summer exhibition matches in Seoul involving the Premier League club Tottenham Hotspur have all sold out, organizers announced Saturday. South Korean streaming service Coupang Play said tickets for two matches in the "2024 Coupang Play Series" were all snapped up after going on sale at 8 p.m. Friday on its website. Tickets were only available to paying members of Coupang WOW services. Tottenham, captained by South Korean star Son Heung-min, will first face Team K League, ma

North Korea has convened a plenary meeting of the ruling Workers' Party of Korea, attended by its leader Kim Jong-un, state media reported Saturday, amid expectations that it would discuss follow-up measures to implement a new partnership treaty with Russia. North Korea held the 10th enlarged plenary meeting of the WPK's 8th Central Committee on Friday to review state policy performances in the first half, according to the Korean Central News Agency. The meeting is also to "discus

A final court hearing for former opposition leader Lee Jae-myung on an alleged election law violation will take place in September, with a verdict expected around the following month, officials said Friday. The final hearing session regarding Lee's alleged election law violation will be held on Sept. 6 following the interrogation of Lee in August and other processes, according to the Seoul Central District Court. Lee is accused of making false statements during the presidential campaign in

South Korea will lift a travel advisory for Japan, except for the Fukushima regions, and lowered the travel warning level placed on Iran, the foreign ministry said Friday. The Level 1 travel alert out of its four-scale system has been applied to Japan, which calls for exercising normal precautions, over the course of the COVID-19 pandemic and the subsequent decline in the number of travelers there. Beginning Monday, the Seoul government will lift the advisory given a growing number of travelers

Seoul shares ended higher Friday as investors waited for clues about the direction of the US rate decision with key data due later in the day. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index added 8.02 points, or 0.29 percent, to 2,792.08. Trade volume was moderate at 601.1 million shares worth 10.8 trillion won ($7.8 billion), with winners outnumbering losers 578 to 294. Foreigners and institutions purchased local shares worth 29.2 billion

President Yoon Suk Yeol plans to meet with US National Intelligence Director Avril Haines on Friday, sources said, amid growing concerns over a recent military pact between North Korea and Russia. During the meeting at Yoon's office, the two sides are likely to exchange their views on the comprehensive strategic partnership treaty signed between North Korean leader Kim Jong-un and Russian President Vladimir Putin and discuss joint efforts to counter the growing Pyongyang-Moscow military tie

The unification ministry urged North Korea on Friday to give prior notice if it releases water from a dam near the inter-Korean border, citing the need to prevent damage in border areas from possible heavy rains. The request came as North Korea opened the floodgates of the Hwanggang Dam to release water during the summer monsoon season without notifying the South in advance. "The government urges North Korea to give prior notice if it releases water from the dam to prevent flooding in borde

South Korea's imports of crude oil fell 2.5 percent on year in 2023, data showed Friday, as consumption of petroleum products declined last year. South Korea imported 1.01 billion barrels of crude oil last year, down from 1.03 billion barrels in 2022, according to data compiled by the Korea National Oil Corp. The Middle East accounted for 71.9 percent of South Korea's crude oil imports last year, up from 67.4 percent in 2022. South Korea's dependency on the Middle East crude oil h

A Seoul court on Friday dismissed a damages suit filed by Lee Dong-kwan, a former head of the state broadcasting watchdog, against local news channel YTN for covering allegations that his wife had received bribes in return for job favors. Lee, former chairman of the Korea Communications Commission, filed the suit after the news channel reported on allegations that his wife had received money in exchange for job favors in 2010 before returning it two months later. He claimed the news channel had

The United States on Thursday welcomed South Korea undertaking the one-year chair of a multinational partnership aimed at developing diverse and sustainable supply chains for critical energy minerals. South Korea is set to start leading the Minerals Security Partnership on Monday, the State Department said. Launched in 2022, the MSP is a collaboration of 14 countries and the European Union to catalyze public and private investment in the global supply chains of critical minerals. "The ROK h

Seoul shares opened a tad higher Friday ahead of the release of the Federal Reserve's preferred gauge of inflation. The benchmark Korea Composite Stock Price Index added 2.61 points, or 0.09 percent, to 2,786.67 in the first 15 minutes of trading. Overnight, Wall Street closed slightly higher, as the US personal consumption expenditures (PCE) price index for May is set to be released Friday, the latest data for any clues on the Fed's monetary policy direction. In Seoul, market bellweth

South Korea's industry ministry said Friday it has discussed ways to expand ties in addressing supply chain and export control issues with Washington under a regular bilateral dialogue. Industry Minister Ahn Duk-geun and his US counterpart, Gina Raimondo, discussed related matters during the Supply Chain Commercial Dialogue in Washington on Thursday, according to the Ministry of Trade, Industry and Energy. The SCCD is a regular ministerial forum, proposed during US President Joe Biden'

South Korea will play five Middle East teams in the next phase of their qualification campaign for the 2026 FIFA World Cup. South Korea ended up with Iraq, Jordan, Oman, Palestine and Kuwait in Group B in the third round of the Asian World Cup qualification, following the draw in Kuala Lumpur on Thursday. The 18 qualified teams from the second round were divided into six pots based on their FIFA world rankings released last Thursday. Each group contained one from each of the six pots. As world

The US ambassador to South Korea stressed Thursday the importance of international cooperation in building resilience against cybersecurity threats, including those posed by North Korea. Amb. Philip Goldberg made the remarks during a forum hosted by the Asan Institute for Policy Studies, a think tank based in Seoul. "The ever growing scope of cybersecurity means that no country can get far on its own. This is why the United States has bilateral and multilateral engagements with key allies

HWASEONG -- Authorities said Thursday they have confirmed the identities of all 23 people killed in the fire at a lithium battery factory south of Seoul, three days after the blaze that took the lives of many foreign workers. Police received the DNA results of six more victims from the National Forensic Service, making the identification process for all 23 deceased individuals complete, the Gyeonggi Nambu Provincial Police investigating the case said. The fire at the Aricell lithium battery pl

Supreme Court Chief Justice Cho Hee-dae recommended Thursday three senior judges as candidates to replace three outgoing justices at the top court, court officials said. Cho picked Roh Kyung-pil, a senior judge at the Suwon High Court; Park Young-jae, a senior judge at the Seoul High Court; and Lee Sook-yeon, a judge at the Patent Court, and delivered the recommendation to President Yoon Suk Yeol, according to the Supreme Court. The appointment process will begin, including the parliamentary h

Seoul shares closed lower Thursday amid investors' disappointment on Micron Technology's earnings results. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 7.99 points, or 0.29 percent, to 2,784.06. Trade volume was moderate to a little slim at 387.4 million shares worth 10.1 trillion won ($7.3 billion), with losers far outnumbering winners 619 to 262. Foreigners and retail investors purchased local shares worth 509.5 billion

North Korea sent more than 180 trash-carrying balloons toward South Korea overnight, the Joint Chiefs of Staff said Thursday, in what marked its third consecutive balloon launch this week. Some 70 balloons, largely carrying small pieces of paper, mostly landed in Seoul and the northern part of Gyeonggi Province that surrounds the capital, the JCS said in a notice to reporters. As of 9 a.m., there were no balloons floating in the air, while an analysis of retrieved trash has so far indicated they