President Yoon Suk Yeol on Friday named a new senior presidential secretary for civil and social agenda following the previous secretary's resignation over intimidating remarks to reporters. Jeon Kwang-sam, who until recently served as presidential secretary for civil society and communication, was promoted to the position left vacant by the resignation of Hwang Sang-moo in March. "He is someone whose political acuteness and communication skills have been recognized based on the rich e

Seoul shares opened higher Friday, tracking gains on Wall Street, after weekly US jobless claims data offered fresh hope for the Federal Reserve's rate cuts this year. The benchmark Korea Composite Stock Price Index rose 28.15 points, or 1.04 percent, to 2,740.29 in the first 15 minutes of trading. The number of US jobless claims jumped last week to the highest level in more than eight months, renewing hopes for the Fed's rate cuts. Overnight, the Dow Jones Industrial Average increased

Medical professors at major hospitals took a day off Friday, the third of its kind in two weeks, as they expressed fatigue from filling the void of trainee doctors who left their worksites in protest of the government's medical reform. While fatigued medical professors take a leave of absence, treatment of critically ill patients and inpatient services at their hospitals are provided, according to the hospitals. Medical professors took a day off on April 30 and May 3, but no major disruptio

A Pentagon spokesperson refused Thursday to comment on whether the United States wants Seoul to provide lethal arms support to Ukraine, after South Korean President Yoon Suk Yeol reaffirmed his administration's policy against any provision of offensive weapons to the war-torn country. Seoul has maintained a stance to offer humanitarian and non-lethal defense assistance to Ukraine, such as protective suits, demining equipment and other military supplies, though pressure has continued for arm

South Korean shares declined by more than 1 percent Thursday as investors remained concerned over the future course of the US key rates ahead of the release of inflation data next week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 32.91 points, or 1.2 percent, to close at 2,712.14. Trading volume was moderate at 413 million shares worth 10.9 trillion won ($7.95 billion), with losers outpacing gainers 531 to 355. Foreign investors offloaded a

President Yoon Suk Yeol said Thursday he will create a new ministry to tackle the country's low birth rate. Yoon made the remark during an address to the nation marking the second anniversary of his presidency. "In order to overcome the low birth rate, which can be considered a national emergency, we will fully mobilize all of the state's capabilities," he said. The head of the new ministry, tentatively named the "low birth response planning ministry," will double a

South Korea's fiscal deficit reached an all-time high in the first three months of 2024 due to rising expenditures aimed at buttressing an economic recovery, the finance ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of 75.3 trillion won ($55.07 billion) in the January-March period, up from the previous year's 54 trillion won, the finance ministry said in its monthly public finance report. This year'

South Korean shares opened nearly flat Thursday as investors sat on the sidelines ahead of the release of the U.S. consumer price index next week. The benchmark Korea Composite Stock Price Index edged down 1.9 points, or 0.07 percent, to 2,743.15 in the first 15 minutes of trading. Investors remained cautious ahead of the release of the U.S. inflation data amid a mixed forecast over the future course of the Federal Reserve's key rates. Federal Reserve Bank of Boston President Susan Collins

North Korean leader Kim Jong-un has sent a congratulatory message to Russian President Vladimir Putin over Victory Day, expressing his "firm support and solidarity" with Moscow, state media reported Thursday. Kim extended his "warm congratulations and comradely greetings" to Putin in the message celebrating the 79th anniversary of the Soviet Union's World War II victory over Nazi Germany, according to the Korean Central News Agency. Kim touted Putin as leading efforts to

President Yoon Suk Yeol is set to hold a press conference Thursday to mark the second anniversary of his presidency, the first such session in 21 months. The press conference will be held at the presidential office in two parts -- first, an address on his administration's past achievements and future plans, followed by a question and answer session with reporters. Yoon is expected to field a wide range of questions, including his thoughts on the opposition's push for a special counsel investigat

A Seoul court on Wednesday issued an arrest warrant for a medical school student on charges of killing his girlfriend in Seoul earlier this week for allegedly breaking up with him. The 25-year-old, only identified by his surname Choi, who goes to a prestigious medical school in Seoul, was arrested without warrant on Monday for allegedly stabbing his girlfriend to death on the rooftop of a building in southern Seoul around 5 p.m. on Monday. The Seoul Central District Court issued the warrant af

President Yoon Suk Yeol called opposition leader Lee Jae-myung on Wednesday to wish him good health before Lee goes on a weeklong vacation for hospital treatment later this week, Lee's main opposition Democratic Party said. Yoon made the call at around 2:40 p.m. and expressed concern for his health, while Lee expressed his gratitude, the Democratic Party said. Lee will take a weeklong leave from Thursday to next Wednesday to get treatment, which he had postponed due to the recent general

Seoul shares ended higher Wednesday as investors remain watchful over whether the US Federal Reserve will slash key rates this year. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.69 points, or 0.39 percent, to close at 2,745.05. Trading volume was moderate at 424.75 million shares worth 10.09 trillion won ($7.4 billion), with winners outpacing losers 575 to 280. Institutions and foreigners bought a combined 434.7 billion won worth of stocks, o

The main opposition Democratic Party demanded Wednesday that President Yoon Suk Yeol agree to its proposal to provide cash handouts to the entire population and a special counsel probe into suspicions over a Marine's death when he holds a press conference this week. Rep. Park Chan-dae made the calls during a meeting of the party's Supreme Council at the National Assembly, a day before Yoon holds the press conference Thursday to mark the second anniversary of his presidency. The press conference

A Czech envoy visited a South Korean nuclear power plant last week amid the ongoing process to select the winner for the European nation's construction project estimated at around 30 trillion won ($22 billion), industry sources said Wednesday. Ivan Jancarek, the Czech Republic's ambassador to South Korea, visited the Saeul Nuclear Power Plant in Ulsan, 299 kilometers south of Seoul, on Friday, and was briefed on the overall operations of the facility, according to the sources. The visi

Seoul shares opened higher Wednesday on institutional buying, with investors staying watchful on whether the US Federal Reserve will slash key rates this year. The benchmark Korea Composite Stock Price Index rose 3.65 points, or 0.13 percent, to 2,738.01 in the first 15 minutes of trading. Overnight, US stocks ended nearly flat. The Dow Jones Industrial Average inched up 0.08 percent at 38,884.26, and the tech-heavy Nasdaq fell 0.1 percent to 16,332.56. Institutions and individuals bought a comb

South Korean Ambassador to Russia Lee Do-hoon attended the inauguration ceremony of its leader Vladimir Putin, who began his fifth term as president on Tuesday (local time), Seoul officials said. Lee's attendance at the event held at the Kremlin came in contrast to counterparts from South Korea's ally, the United States, and many Western countries that boycotted the event over its war in Ukraine. European Union nations were also divided over sending delegations to the inauguration, a

South Korean shares shot up over 2 percent Tuesday as investors were buoyed by growing hopes that the U.S. Federal Reserve may carry out rate cuts this year. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index jumped 57.73 points, or 2.16 percent, to close at 2,734.36. Trading volume was moderate at 523 million shares worth 10.9 trillion won ($8 billion), with winners outpacing losers 582 to 285. Investor sentiment was boosted by growing hope that t

The top prosecutor on Tuesday pledged to speedily and strictly conduct an investigation into allegations that first lady Kim Keon Hee illegally received a luxury bag as a gift in 2022. Prosecutor General Lee One-seok made the pledge after he ordered last week the creation of an investigation team dedicated to the allegations involving the first lady. "The prosecution will conduct the investigation speedily and strictly only in accordance with evidence and the legal principles and take appro

Health Minister Cho Kyoo-hong said Tuesday that the government will extend its financial support for emergency care services by another month, as massive walkouts by junior doctors have disrupted health services at major hospitals for nearly three months. The government has injected 190 billion won ($140 million) per month from the national health insurance system since February to support operations at emergency rooms and increase compensation for emergency doctors. Cho told a response meeting