Seoul shares ended more than 1 percent lower Wednesday to end their six-day winning streak as investors were disappointed with a new stock index to be launched next week. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.34 percent, or 35.36 points, to 2,569.32. Trading volume was moderate at 441.8 million shares worth 11.4 trillion won (US$8.6 billion), with losers outnumbering winners 516 to 355. Retail investors and institutions bought a

South Korea and Morocco have held a policy consultation meeting on envisioned joint economic and industry projects through a cooperation fund, Seoul's finance ministry said Wednesday. During the two-day meeting held in Rabat from Monday, the two nations chose energy, transportation, green growth and digital fields as key cooperation fields under the Economic Development Cooperation Fund framework and discussed candidate projects, according to the finance ministry. The move came as South Kor

Seoul shares opened higher Wednesday tracking overnight gains on Wall Street on increasing hopes for more US rate cuts. The benchmark Korea Composite Stock Price Index rose 0.56 percent, or 14.79 points, to 2,646.47 in the first 15 minutes of trading. Overnight, major US indexes closed higher on hopes for additional rate cuts by the Federal Reserve amid lingering concerns on the labor market. Blue chip tech shares rallied, with AI chip giant Nvidia up 3.97 percent and TSMC up 4.13 percent. In Se

Republican presidential nominee Donald Trump said Tuesday that voters will see a "mass exodus of manufacturing" to America from South Korea, China and other countries if they vote for him in November, as he stepped up efforts to court swing voters in a battleground state. Trump made the remarks during a campaign speech on tax policy in Savannah, Georgia, as various polls have shown the former president and his Democratic rival, Kamala Harris, in a tight race with the general election l

US President Joe Biden on Tuesday made no reference to North Korea in his fourth and final speech to the UN General Assembly as president, though he stressed his commitment to diplomacy with Pyongyang and decried its sanctions violations in past addresses to the annual high-level gathering. The absence of his reference to the North came as Washington's repeated overtures for dialogue with the recalcitrant regime have gone unanswered with Pyongyang doubling down on its nuclear and missile pr

North Korea on Wednesday denounced the United States for violating the North's sovereign rights and trying to justify its hostile policy against Pyongyang by hosting the Quad summit with the leaders of India, Japan and Australia. After holding the fourth in-person summit in Wilmington, Delaware, the leaders of the four nations in the Quad security partnership on Saturday issued a joint statement denouncing North Korea's missile launches and its nuclear program, and reaffirming their co

The Doosan Bears smacked three home runs, including a pair by No. 8 hitter Kang Seung-ho, as they defeated the NC Dinos 10-5 at home to step closer to a postseason berth in the Korea Baseball Organization on Tuesday. Kang slapped a go-ahead solo home run in the bottom of the second inning at Jamsil Baseball Stadium in the capital city, before delivering a two-run shot that extended the Bears' lead to 4-1 in the fourth inning. Jared Young added a two-run homer of his own in the three-run f

South Korea's science ministry said Tuesday it has opened a joint artificial intelligence research lab in collaboration with New York University as part of efforts to lead global-level AI research projects. The new Global AI Frontier Lab at NYU aims to become a global AI joint research hub for researchers from South Korea and the United States, as well as many other countries, according to the Ministry of Science and ICT. The lab will be co-led by two distinguished computer scientists -- Ch

Hong Myung-bo, the beleaguered head coach of the South Korean men's national football team, said Tuesday he doesn't think he was given any preferential treatment when he was hired for the job this summer. Hong also defied calls for his resignation over the issue. Hong made these comments during the questioning session by the Culture, Sports and Tourism Committee of the National Assembly. The coach was among witnesses summoned by the committee, whose lawmakers grilled Hong, Korea Footba

Kim Yo-jong, the influential sister of North Korean leader Kim Jong-un, vowed Tuesday to "continuously and limitlessly" bolster the North's nuclear war deterrent against what it called US threats, denouncing the arrival of a US nuclear-powered submarine in South Korea. The remark came a day after the 7,800-ton USS Vermont entered a major naval base in Busan, 320 kilometers southeast of Seoul, to replenish supplies and provide rest for crew members. "The DPRK's nuclear

The adviser of Young Poong Corp., the biggest shareholder of Korea Zinc Inc., on Tuesday defended Young Poong's joint tender offer to buy the top zinc smelter with private equity firm MBK Partners as an attempt to save the company. Chang Hyung-jin, son of Young Poong co-founder Chang Byung-hee, made the remark in a rare interview with the local wire Yonhap News Agency, as a management conflict flared up over the share purchase plan, which Korea Zinc has strongly protested as a "hostile

President Yoon Suk Yeol hosted a dinner meeting with the leadership of the ruling People Power Party on Tuesday, which will be a test of how he decides to manage relations with PPP chief Han Dong-hoon and address pending issues. Yoon met with Han, PPP floor leader Rep. Choo Kyung-ho and Supreme Council members at the presidential office, the second such gathering following Han's election in July. The gathering was initially planned for late August but was postponed after Han diverged from Y

Seoul shares closed higher Tuesday to extend their winning streak to a sixth day, driven by hopes for further US rate cuts and China's stimulus plan. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.14 percent, or 29.67 points, to 2,631.68. Trading volume was slim at 345.9 million shares worth 10.1 trillion won ($7.6 billion), with gainers surpassing decliners 605 to 264. Institutions bought 561.6 billion won worth of local shares to off

The prosecution's independent investigation review committee held a meeting to deliberate on whether a Korean American pastor should be indicted for gifting a luxury bag and other expensive items to first lady Kim Keon Hee. The panel, comprising outside experts, convened behind closed doors to review whether pastor Choi Jae-young should be indicted on charges of violating the anti-graft law, defamation, and others related to the scandal. The Korean American pastor gifted a Dior handbag wort

The financial regulator stressed the need to supply enough funds to local businesses in a "timely" manner, noting a recent US rate cut may increase market volatility. Kim So-young, deputy chief of the Financial Services Commission, also insisted that there still remained many uncertainties stemming from the upcoming US presidential election and increasing tensions in the Middle East, as well as widely expected rate reductions in major economies. "The speed of rate reductions in ma

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street amid hopes for more US rate cuts. The benchmark Korea Composite Stock Price Index rose 0.58 percent, or 15.18 points, to 2,617.19 in the first 15 minutes of trading. Overnight, major US indexes gained ground as several Federal Reserve policymakers voiced support for additional rate cuts in the future. Last week, the Fed cut its lending rate by half a percentage point to a range of 4.75 percent to 5 percent and pledged fu

The presidential office said Monday that President Yoon Suk Yeol's possible solo meeting with ruling People Power Party (PPP) chief Han Dong-hoon needs a separate consultation, after Han requested it on the occasion of Yoon's dinner meeting with the PPP leadership this week. Yoon will hold a dinner meeting with Han and other PPP leaders Tuesday to discuss the government's medical reform plan. Separately from the group dinner, Han requested a solo meeting with Yoon on the same day.

Three recently passed bills, including one targeting first lady Kim Keon Hee, violate the Constitution, the presidential office said Monday, suggesting they will be vetoed by President Yoon Suk Yeol. The bills were unilaterally passed by the main opposition Democratic Party on Thursday despite fierce objections from the ruling People Power Party. One calls for an independent probe into Kim's stock manipulation allegations, as well as her receipt of a luxury bag and her alleged interference

Seoul shares closed higher Monday to extend their winning streak to a fifth day, backed by tech gains, as investors were digesting the US Federal Reserve's big cut last week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.64 points, to 2,602.01. Trading volume was slim at 330.2 million shares worth 9.3 trillion won ($6.96 billion), with losers slightly surpassing winners 449 to 434. Retail investors and institutions pur

Korea Hydro & Nuclear Power said Monday it has signed a memorandum of understanding (MOU) with a Czech hydrogen association to seek cooperation for clean hydrogen. The agreement, inked with the Czech Hydrogen Technology Platform (HYTEP) in Prague last week, will focus on exchanging information and seeking cooperation in the European market for clean hydrogen, according to KHNP. Under the agreement, the two institutions aim to collaborate in the production of clean hydrogen using surplus ener