South Korean financial authorities said Monday the recent stock market plunge was excessive, given economic fundamentals, vowing to enhance market monitoring and swiftly implement a policy fund to strengthen valuation of local companies. The message was released during an interagency meeting among chiefs of the Financial Services Commission, Financial Supervisory Service and the Korea Exchange, as well as market experts and relevant institutions, in Seoul, in response to steep losses incurred in

President Yoon Suk Yeol arrived in Rio de Janeiro, Brazil, on Sunday to attend the Group of 20 (G20) summit, a multilateral forum representing the world's major economies. Yoon flew from Lima to Rio de Janeiro to participate in the G20 summit slated for Monday and Tuesday, which marks Yoon's third consecutive attendance at the summit. On the first day, Yoon will join the launch of the Global Alliance for Hunger and Poverty and outline South Korea's contributions to combat global h

The chief of South Korea's arms procurement agency has met Peru's defense minister and discussed ways to expand their arms industry cooperation on the ground, sea and air, the Defense Acquisition Program Administration said Monday. The meeting between DAPA Minister Seok Jong-gun and Peru's Defense Minister Walter Astudillo in Lima on Saturday came as President Yoon Suk Yeol visited Peru for an Asia-Pacific Economic Cooperation summit. In a separate summit held with his Peruvian co

In taking an early exit from the World Baseball Softball Confederation Premier12 in Taipei this month, South Korea was held back by its lack of depth among young, homegrown starting pitchers. South Korea's fate was sealed Sunday, its first offday of the tournament, when Japan and Chinese Taipei each won its game to grab spots in the Super Round as the top two teams in Group B. South Korea will not finish higher than third regardless of its result against Australia in the final Group B game

A new long-range radar system developed with homegrown technology has been approved for combat suitability, the state arms procurement agency said Monday, with the equipment expected to bolster surveillance of aircraft in the country's air defense identification zone (KADIZ). The new radar system is capable of conducting around-the-clock surveillance in KADIZ and transmitting real-time data to the Air Force's Master Control and Reporting Center, the Defense Acquisition Program Administ

Following the best performance of her LPGA career on Sunday in Florida, South Korean Im Jin-hee has put herself in the hunt for the tour's top rookie award. Im finished tied for second place at The Annika driven by Gainbridge at Pelican at 11-under 269, after shooting a two-under 68 at Pelican Golf Club in Belleair, Florida. She had three birdies and one bogey Sunday. Im, Charley Hull of England and Zhang Weiwei of China all ended up three strokes behind the champion, Nelly Korda of the U

North Korea again sent balloons carrying trash toward South Korea on Monday, the military here said, resuming its balloon campaign after about a three-week hiatus. North Korea floated some 40 balloons in the early hours, with approximately half of them falling in the Seoul metropolitan area and surrounding Gyeonggi Province, the Joint Chiefs of Staff said. The fallen objects were leaflets critical of South Korea and included no hazardous items, it added. Since late May, North Korea has sent more

South Korean stocks got off to a strong start Monday, led by gains from large-cap shares. The benchmark Korea Composite Stock Price Index added 36.08 points, or 1.49 percent, to 2,452.94 in the first 15 minutes of trading. Market bellwether Samsung Electronics soared 5.79 percent, and leading battery maker LG Energy Solution increased 2.43 percent. Top automaker Hyundai Motor rose 3.4 percent, and its sister affiliate Kia jumped 2.84 percent. Energy shares were the biggest winners as KEPCO climb

North Korean leader Kim Jong-un has called for bolstering the country's nuclear forces "without limitation" and completing war preparations as the country's enemies have increased "frantic" military confrontations with North Korea, state media reported Monday. Kim made the remark during the 4th Conference of Battalion Commanders and Political Instructors of the Korean People's Army on Friday, the final day of the two-day event held in Pyongyang, according to the Korean Centra

President Yoon Suk Yeol departed Peru on Sunday for Brazil to attend the Group of 20 summit, concluding his four-day visit to Lima for the Asia-Pacific Economic Cooperation summit. Yoon traveled from Lima to Rio de Janeiro, the second stop of his South American trip, to join the G20 meetings slated for Monday and Tuesday. During his stay in Peru, Yoon attended APEC sessions, an economic forum and other events on Friday and Saturday. On the sidelines, he held a trilateral summit with US President

The average temperature of South Korea’s surrounding seas has risen at nearly twice the global average rate over the past 56 years, according to a government report. The National Institute of Fisheries Science stated in its report, “2024 Impact of Climate Change in Fisheries Sector,” that sea temperatures around South Korea have increased by 1.44 degree Celsius between 1968 and 2023, compared to the global average rise of 0.7 C. The East Sea experienced the most significant i