Won loses over 7 percent of its value against dollar this year

President Yoon Suk Yeol has invited main opposition leader Lee Jae-myung to their first one-on-one meeting through a brief phone call, the presidential office said Friday. In a surprise 5-minute phone call between the two, Yoon asked Lee to meet him next week at Yongsan, where the presidential office is located, an official at the presidential office told reporters. In his first phone call to Lee, Yoon added that he hoped to frequently meet from now on to discuss national affairs “over tea

Iran fired air defense batteries early Friday morning after reports of explosions near the city of Isfahan, the state-run IRNA news agency reported. It remained unclear if the country was under attack. However, tensions remain high in the wider Middle East after Iran’s unprecedented missile-and-drone attack on Israel. One government official suggested sites may have been targeted by drones. The Israeli military did not immediately respond to a request for comment. IRNA said the defenses fi

PARIS -- Climate change caused by carbon dioxide emissions already in the atmosphere will shrink global gross domestic product in 2050 by about $38 trillion, or almost a fifth, no matter how aggressively humanity cuts carbon pollution, researchers said Wednesday. But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after midcentury, they reported in the journal Nature. Economic fallout from climate change, the study shows, c

Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion at the Wilson Cen

A series of memorial events were held across the country Tuesday, the 10th anniversary of the Sewol ferry tragedy, in remembrance of the 304 lives lost in Korea's worst maritime disaster. At a ceremony held at the Hwarang Public Garden in Ansan, Gyeonggi Province, Gyeonggi Province Gov. Kim Dong-yeon vowed to remember the 304 victims forever. Kim also lamented that no senior officials were held accountable for the failed disaster response. "Another tragedy followed this tragedy. It is

Now 27 years old, 3 survivors reflect on the lives their friends never had, indelible scars that shaped their adulthood, their dreams

Countries around the world condemned Iran's strikes on Israel late Saturday, warning the attack threatened to further destabilise the Middle East. Here are some of the main reactions so far: US - US President Joe Biden promised "ironclad" support for Israel after holding an urgent meeting with top security officials. "I just met with my national security team for an update on Iran's attacks against Israel. Our commitment to Israel's security against threats from Iran and its

Amid administrative efforts to increase the annual enrollment quota for medical schools that sparked the mass walk-out of doctors across the country, the government said it would reduce the number of school teachers going forward, citing a decline in student numbers. The enrollment quota for teachers' colleges, which has remained unchanged for 13 years, will be reduced by 12 percent, the Education Ministry said. Currently, 13 universities that train aspiring elementary school teachers take

Despite opposition's strong victory, questions remain over Democratic Party of Korea chair's legal troubles

Conservative leader could face 3 stagnant years, severance from his party, political revenge from his opponents

Former South Korean presidents have traditionally maintained a reserved stance regarding elections held after their tenure, but some have been making rather different moves in this general election. Showing active support for his party, the Democratic Party of Korea, Moon Jae-in, the predecessor of incumbent President Yoon Suk Yeol, has been the most vigorous among the past three presidents, directly joining rallies of individual candidates from the main opposition Democratic Party of Korea. Dre