Naver Corp., the operator of South Korea's leading internet portal, said Monday it has plans to establish a Middle Eastern unit in Saudi Arabia within this year as part of efforts to expand its global business. The new unit, tentatively named Naver Arabia, will be in charge of Naver's business projects in Saudi Arabia, including the creation of a digital twin platform for five Saudi cities and the development of an Arabic-based large language model, according to the Korean company. Nav

The top diplomats of South Korea, the United States and Japan will hold talks on the sidelines of the annual UN General Assembly in New York on Monday (local time), according to South Korea's foreign ministry. This will be the first trilateral meeting among South Korean Foreign Minister Cho Tae-yul, US Secretary of State Antony Blinken and Japanese Foreign Minister Yoko Kamikawa since their last talks during the Group of 20 (G20) summit in Brazil in February. The diplomats are expected to d

South Korea's military on Monday vowed to take "stern" military measures should North Korea "cross the line" with its ongoing trash balloon campaign or inflict serious damage to the South Korean people. The Joint Chiefs of Staff made the remark in a statement in response to the North's repeated launch of trash-carrying balloons across the border, including those attached with timer devices that could potentially cause fires. Since late May, the North has launched so

Seoul shares opened almost flat Monday as investors were paying attention to remarks by the US Federal Reserve officials following a big cut last week. The benchmark Korea Composite Stock Price Index rose 0.03 percent, or 0.9 points, to 2,594.27 in the first 15 minutes of trading. Investors' eyes are now on Fed officials' comments to be made throughout this week to assess the aftermath of the Fed's rate cut Wednesday . The Fed kicked off its monetary-easing cycle by cutting its ov

South Korea and the United States are set to hold another round of negotiations this week to determine Seoul's contribution to the cost of stationing US Forces Korea, a South Korean foreign ministry official said Monday. The eighth round of talks on the Special Measures Agreement will be held from Wednesday to Friday in Seoul, according to the official. The current six-year SMA is scheduled to expire at the end of next year. "The government plans to conduct discussions with the stance

South Korea's exports lost 1.1 percent on-year in the first 20 days of September despite robust sales of semiconductors due mainly to the fewer number of working days and weak demand for automobiles, data showed Monday. Outbound shipments reached US$35.58 billion in the Sept. 1-20 period, compared with $35.97 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports, however, advanced 18 percent on-year to $2.74 billion. The number of working days

North Korea sent more balloons likely carrying trash toward South Korea on Sunday, the South's military said, just four days after the prior similar launch. The Joint Chiefs of Staff said the North resumed its balloon campaign and warned the balloons may float toward Seoul and the surrounding Gyeonggi Province. Since late May, the North has launched thousands of balloons carrying trash in retaliation against anti-Pyongyang leaflets sent across the border by North Korean defectors and acti

Chang Ki-pyo, a prominent pro-democracy and labor activist in the 1970s, has died. He was 78. Chang died of gallbladder cancer early Sunday at a hospital in Ilsan, Gyeonggi Province, according to his family. Born in 1945 and enrolled at Seoul National University in 1966, Chang began actively campaigning for democracy and labor rights in 1970 in the wake of the self-immolation of Jeon Tae-il. Jeon burned himself to death in 1970 in protest of brutal working conditions at a Seoul sewing factory.

WASHINGTON (Reuters) -- The US Commerce Department was expected on Monday to propose prohibiting Chinese software and hardware in connected and autonomous vehicles on American roads due to national security concerns, two sources told Reuters. The Biden administration has raised serious concerns about the collection of data by Chinese companies on US drivers and infrastructure as well as the potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed

Beatriz Haddad Maia of Brazil pulled off a strong comeback for her first WTA title of the season in Seoul on Sunday. The third-seeded Haddad Maia defeated Daria Kasatkina, the top seed from Russia, 1-6, 6-4, 6-1, to win the Korea Open at Olympic Park Tennis Center. Haddad Maia, world No. 17, now has four career WTA singles titles, thanks to an impressive rally on the heels of a lethargic first set. Kasatkina, world No. 13, won the opening frame in just 26 minutes, and won especially easy points

The growth pace of household loans slowed in September amid fresh loan tightening measures and the extended holiday period, data showed Sunday. As of last Thursday, the accumulative household loan balance at the five major banks — KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NongHyup Bank — totaled 728.9 trillion won ($545.6 billion), reflecting a marginal increase of 2.72 trillion won since the end of August. At the current pace, the monthly increase for September is ex

President Yoon Suk Yeol returned home Sunday from his trip to the Czech Republic, focused on strengthening South Korea's bid to secure a nuclear energy deal and enhance economic ties with the European nation. Yoon held summit talks with Czech President Petr Pavel and Prime Minister Petr Fiala on Thursday and Friday, promoting Korea Hydro & Nuclear Power's (KHNP) bid to build two nuclear power plants in Dukovany, after being selected as a preferred bidder in July. His visit came as

South Korea’s retail investors are trying to exert their influence on the country’s stock market policies, having tasted success in their last campaign. Dubbed as “ants” for their ability to influence policies when they act as a group, the individual investors are backing a proposal by President Yoon Suk Yeol’s administration to scrap a capital gains tax imposed on financial investments. The main opposition Democratic Party opposes the abolition of the levy, say

Heavy overnight rains across South Korea triggered landslides and flooding, forcing the evacuation of more than 600 people in southern regions and submerging roads and buildings Saturday. No casualties have been reported so far, according to authorities. Heavy rain warnings were in effect across the southern Gyeongsang region and parts of Gangwon, Chungcheong and Jeolla provinces as of Saturday morning, with more rainfall expected through Sunday, according to the Korea Meteorological Adminis

The Kia Tigers announced Friday their temporary foreign pitcher Eric Stout will miss the rest of the regular season with a hamstring injury. The Tigers, the 2024 regular-season champions in the Korea Baseball Organization, said Stout was diagnosed with a left hamstring injury that will keep him from pitching again this season. The Tigers, who clinched the best regular-season record on Tuesday, have six games remaining. Stout suffered the injury after delivering a pitch during Thursday's gam

The retiring South Korean baseball star Choo Shin-soo has decided to postpone a celebration of his long professional career to next year. The SSG Landers of the Korea Baseball Organization (KBO) announced Friday that Choo, who plans to hang up his spikes after this season, asked the club not to hold his retirement ceremony this year. According to the Landers, Choo said he didn't want to be a distraction during the club's fight for a postseason spot. With their game on Friday rained out

K-pop giant Hybe said Friday it has acquired a US-based public relations agency as part of its strategy to bolster the PR capabilities of its American unit. According to Hybe's semi-annual report, The Agency Group PR LCC, a non-listed company based in Santa Monica, California, has been added to the list of its consolidated subsidiaries through an equity acquisition. The Agency Group PR, whose main business is public relations, is now a subsidiary of Hybe America, with Hybe holding a 51 perc

Seoul shares ended higher Friday on institutional buying after the Federal Reserve's first rate cut in more than four years lifted investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 0.49 percent, or 12.57 points, to close at 2,593.37. The main index rose 0.7 percent this week. Trading volume was moderate at 477.43 million shares worth 13.78 trillion won ($10.4 billion), with gainers exceeding decliners 562 to 319. Over

Former President Moon Jae-in lambasted the North Korea policies of the Yoon Suk Yeol administration on Friday, saying they have led to the "most dangerous" state on the Korean Peninsula since the 1950-53 Korean War. Moon, a liberal whose North Korea policies centered on bringing lasting peace through diplomacy, attacked the policies of his conservative successor at a conference held in the southwestern county of Yeongam to mark the sixth anniversary of the Pyongyang Joint Declaration h

Unification Minister Kim Yung-ho on Friday called on North Korea to "immediately and unconditionally" send a detained South Korean missionary and five other nationals back home, condemning the North's yearslong arbitrary detention as grave human rights violations. South Korea's top point man on North Korea issued a rare statement marking 4,000 days after missionary Kim Jung-wook was arrested in Pyongyang in 2013. He was sentenced to hard labor for life on charges of spying fo