Seoul shares open higher on chip, battery gains

South Korean stocks opened higher Wednesday, as investors shored up semiconductor and battery shares despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index gained 16.22 points, or 0.64 percent, to 2,553.82 in the first 15 minutes of trading. Overnight, US stock markets fell for the second straight session amid lingering uncertainties over tariff policies of US President Donald Trump. The S&P 500 dipped 0.76 percent, and the Dow Jones Industrial Average declined

March 12, 2025

White House says S. Korea-US alliance is 'ironclad,' after NK missile launches

The White House said Tuesday the South Korea-US alliance is "ironclad," as tensions flared anew following North Korea's first ballistic missile test this week since the Trump administration took office in January. Press Secretary Karoline Leavitt made the remarks after Pyongyang fired multiple ballistic missiles into the Yellow Sea on Monday apparently in protest over the start of the annual South Korea-US Freedom Shield military exercise this week. "The US-Republic of Korea alliance is ironclad

March 12, 2025

Samsung Electronics pays highest salaries to outside directors: data

Samsung Electronics Co. ranked first in average salaries for outside directors among major listed companies in South Korea last year, a corporate tracker said Wednesday. According to CEO Score, Samsung Electronics paid an average of 183.3 million won ($126,000) per outside director in 2024, the highest among 247 companies surveyed out of the country's top 500 firms by market capitalization. Despite this leading position, the figure marked a 9.8 percent decline from the previous year. The average

March 12, 2025

Trump taps ex-ambassador to Thailand as assistant secretary of state for East Asia

US President Donald Trump said Tuesday he will nominate a former ambassador to Thailand as the next assistant secretary of state for East Asia and the Pacific, a post that deals with a broad range of regional issues, including those on the Korean Peninsula. In a social media post, Trump made the announcement on his decision to nominate Michael DeSombre for the State Department post, voicing confidence that DeSombre will "work incredibly hard" for the United States. "I am pleased to announce that

March 12, 2025

50% tariff on Canadian steel, aluminum won't be imposed this week: Trump adviser

An adviser to US President Donald Trump said Tuesday that a planned increase in a tariff on Canadian steel and aluminum imports to 50 percent will not take effect this week, a move that came after Ontario agreed to suspend a 25 percent surcharge on its electricity exports to the United States. Peter Navarro, the White House adviser, made the remarks hours after Trump announced he had instructed Commerce Secretary Howard Lutnick to add an additional 25 percent tariff on steel and aluminum imports

March 12, 2025

S. Korea adds 136,000 jobs in February: data

South Korea added more than 130,000 jobs for the second consecutive month in February, but the construction and manufacturing sectors continued to see sharp declines, data showed Wednesday. The number of employed people came to 28.18 million as of the end of last month, up 136,000 from a year earlier, according to the data compiled by Statistics Korea. The country had posted a net increase of 135,000 jobs from a year earlier in January, marking a turnaround from a 52,000 on-year decline the prev

March 12, 2025

South Korea raises issue over potential US designation as 'sensitive country': FM

South Korea has been informally told that the US Department of Energy (DOE) was considering categorizing it as a "sensitive country" and has since raised the issue with the department, Foreign Minister Cho Tae-yul said Tuesday. Cho made the remarks during a parliamentary session amid signs that the DOE, which oversees energy and nuclear policies, is reviewing the possibility of placing South Korea on its sensitive country list. If placed, researchers from countries on the list undergo more strin

March 11, 2025

Samsung Electronics' investment in R&D, facility hits record high in 2024

Samsung Electronics Co. said Tuesday it made its largest-ever investment in research and development (R&D) and facility expansion last year. The tech giant spent about 35 trillion won (US$24.09 billion) on R&D projects in 2024, up 23.5 percent from a year earlier, according to its business report released in the day. The 2024 figure marked the greatest R&D investment Samsung has ever made. The total facility investment rose by 500 billion won on-year to come to 53.6 trillion won in 2024, also an

March 11, 2025

Police to disclose identity of teacher accused of fatally stabbing student

Police said Tuesday they decided to disclose the identity of the teacher this week accused of stabbing an 8-year-old student to death at an elementary school in the central city of Daejeon. The female teacher in her 40s confessed to stabbing the student after the girl was found with stab wounds in a school building on Feb. 10. The girl was later pronounced dead at a hospital due to excessive bleeding. The Daejeon Metropolitan Police Agency decided to disclose the suspect's name, age and photos o

March 11, 2025

Seoul shares dip over 1% on Trump tariff threats

South Korean stocks finished over 1 percent lower Tuesday, following overnight Wall Street losses spurred by US President Donald Trump's renewed tariff threats. The local currency fell against the greenback. The benchmark Korea Composite Stock Price Index dropped 32.79 points, or 1.28 percent, to close at 2,537.60. Trade volume was moderate at 370.3 million shares worth 9.47 trillion won ($6.5 billion), with losers outpacing winners 730 to 179. Foreign and institutional investors together sold a

March 11, 2025