The ruling People Power Party on Friday voiced objections to a new opposition-introduced bill calling for a special counsel probe into allegations involving first lady Kim Keon Hee, calling it an "unconstitutional wicked bill." The main opposition Democratic Party introduced the bill on Thursday, the third time it submitted such a proposal after two previous versions were scrapped following revotes triggered by President Yoon Suk Yeol's vetoes. The new bill expands the scope of th

The South Korean economy has been on a path for recovery led by exports and domestic demand showed signs of improvement, the finance ministry said Friday. The ministry made the assessment in its monthly economic report, the Green Book, while noting that the pace of recovery differs among sectors. "The economy continues to show a recovery trend centering on exports and the manufacturing sector amid the stabilization of consumer prices. Domestic demand is also showing signs of a gradual recov

South Korean shares opened slightly higher Friday, taking a cue from overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 4.09 points, or 0.16 percent, to 2,613.39 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average climbed 0.37 percent to close at 43,239.05, marking a new high for a second consecutive session on reports of better-than-anticipated consumer spending. The U.S. Department of Commerce reported that the value of ret

Seoul's top envoy to Washington cautioned Thursday against economic "protectionism" as he highlighted the need to address barriers that preclude full defense industrial cooperation between South Korea and the United States. Speaking at a think tank forum, Ambassador Cho Hyun-dong pointed to a US legal mandate requiring US naval ships to be built in America as a challenge limiting efforts to expand collaboration between the US and its foreign partners. "This issue is particula

Ukrainian President Volodymyr Zelenskyy said Thursday that North Korea is preparing to send around 10,000 soldiers to Russia to support its war against Ukraine, calling the development "a big problem." Zelenskyy cited Ukrainian intelligence reports indicating that North Korean personnel have already been deployed in Russian-occupied Ukrainian territories, with additional troops being prepared to join the fight. "We know about 10,000 soldiers of North Korea that they are preparin

The LG Twins defeated the Samsung Lions 1-0 on Thursday to stave off elimination in the Korea Baseball Organization (KBO) postseason. Twins starter Im Chan-kyu threw 5 1/3 shutout innings at Jamsil Baseball Stadium in Seoul, and Elieser Hernandez added 3 2/3 scoreless frames to combine for the narrow win before a sellout crowd of 23,750. The Twins scored the only run of the game via a sacrifice fly by Hong Chang-ki in the bottom fifth. The Lions still lead this best-of-five series 2-1 and will

The foreign ministry on Thursday strongly urged Korean missionaries in Lebanon and Israel to leave the countries as soon as possible amid escalating military tension in the Middle East. Hong Seok-in, who is in charge of the protection of overseas nationals and consular affairs, conveyed the warning during a meeting with 10 missionary organizations. He strongly advised the missionaries in Lebanon and Israel to promptly leave the area via available flights, considering the escalating conflict betw

Central bank chiefs from South Korea, China and Japan held a meeting in Beijing on Thursday to discuss a variety issues, including economic and financial trends. Bank of Korea (BOK) Gov. Rhee Chang-yong met with his Chinese counterpart, Pan Gongsheng, and Japanese counterpart, Kazuo Ueda, at the gathering, the 13th of its kind, chaired by Beijing's top central banker, according to the BOK. The BOK said the central bank chiefs exchanged their views on recent economic and financial issues.

South Korean shares closed slightly lower Thursday as foreign investors extended their selling streak to a second session. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (Kospi) slipped 1.06 points, or 0.04 percent, to close at 2,609.30. Trading volume was moderate at 325 million shares worth 9.7 trillion won ($7.09 billion), with losers outnumbering gainers 511 to 358. Foreign investors net sold 405.8 billion won worth of local shares, on

The office of President Yoon Suk Yeol vowed Thursday to push for major reform agenda items after the ruling People Power Party won crucial by-elections on its home turf. The PPP secured victories in its traditional stronghold constituencies -- Busan's Geumjeong District and Incheon's Ganghwa County -- in Wednesday's by-elections as the party seeks to recover from waning approval ratings for both Yoon and the party following its crushing defeat in the April 10 parliamentary electio

North Korean hackers have stolen an estimated US$3 billion worth of cryptocurrency since 2017, using the funds to support the regime's nuclear and missile programs, a Microsoft report showed Thursday. Of that amount, between $600 million and $1 billion was stolen just last year, based on Microsoft's Digital Defense Report for 2024. The report highlights that these stolen funds have financed over half of Pyongyang's nuclear development efforts. Since last year, Microsoft has identi

Ruling party leader Han Dong-hoon on Thursday called again for first lady Kim Keon Hee to withdraw from public activities following the party's wins in crucial by-elections the previous day. Han of the People Power Party also reiterated his call for a presidential office reshuffle to remove those considered close to Kim and exercising undue influence on state affairs. "First lady Kim Keon Hee should refrain from public activities in keeping with her promise during the presidential elec

Finance Minister Choi Sang-mok on Thursday called for thorough preparations for uncertainties stemming from the upcoming presidential election in the United States. Choi made the remarks during a ministerial meeting on external economics, also pointing to escalating tensions in the Middle East as major external challenges, according to the Ministry of Economy and Finance. "The US presidential election is just about 20 days away, and there is a possibility of a wider conflict in the Middle E

Former President Donald Trump said Wednesday that America "cannot be taken advantage of any longer in trade and in the military," reinforcing speculation that he could demand renegotiation of a recent defense cost-sharing deal with Seoul if he returns to office. The Republican presidential candidate made the remarks during a televised town hall event hosted by Fox News, falsely claiming that South Korea does not pay for the stationing of the 28,500-strong US Forces Korea. "South K

South Korean shares opened a tad higher Thursday tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) added 1.75 points, or 0.07 percent, to 2,612.11 in the first 15 minutes of trading. US stocks rebounded on Wednesday, one day after posting sharp declines on concerns of a downturn in the artificial intelligence and semiconductor market. The Dow Jones Industrial Average gained 0.79 percent to close at 43,077.70, with the tech-heavy Nasdaq advancing 0.2

North Korea said Thursday its constitution clearly defines South Korea as a "hostile state," highly suggesting that Pyongyang has amended its constitution in line with leader Kim Jong-un's order to codify the South as an enemy, not a partner for reconciliation and unification. The Korean Central News Agency made the report while reporting on the North's blowing up earlier this week of roads and railways connected to South Korea that were once considered key symbols of inter-K

Balmforth KYIV (Reuters) -- President Volodymyr Zelenskiy unveiled his much anticipated "victory plan" on Wednesday, calling on his allies to take urgent steps to bolster Kyiv at a precarious moment in a bid to end the war with Russia next year. As Moscow's forces advance in the east and a bleak winter of power cuts looms, he told parliament his plan contained five main points that were in the hands of his allies, including an unconditional invite to join NATO now and weapons supp

The defense ministry said Wednesday it is "closely" monitoring for signs of North Korea possibly sending troops to support Russia in its war against Ukraine, following media reports of Russia forming a battalion of North Koreans. Ukrainian media outlets earlier reported that Russia is organizing a special battalion that is expected to include up to 3,000 North Koreans due to manpower shortages amid concerns over deepening military cooperation between the two countries. "As there

South Korean stocks ended lower Wednesday due to losses in tech shares amid concerns over their earnings. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 23.09 points, or 0.88 percent, to close at 2,610.36, ending the two-session winning streak. Trading volume was moderate at 429.5 million shares worth 9.8 trillion won ($7.2 billion), with losers outnumbering gainers 551 to 323. Foreign investors led the daily drop, dumping a net 664.3 b

South Koreans voted Wednesday to elect the education chief of Seoul and four local government heads, with the result expected to serve as a litmus test of public sentiment since the April general elections. Up for grabs in Wednesday's by-elections are five local administrative seats — the superintendent of the Seoul Metropolitan Office of Education, as well as the heads of Busan's Geumjeong District, Incheon's Ganghwa County, and the Yeonggwang and Gokseong counties in South