Foreign currency deposits at banks in South Korea surged to a record high in October on expectations for a strong dollar, central bank data showed Tuesday. Residents' outstanding foreign currency-denominated deposits had stood at a fresh record of $100.77 billion as of end-October, up $6.57 billion from the previous month, according to the Bank of Korea (BOK). It marks the first time the country's foreign currency deposits have surpassed the $100 billion level. It also represents the third con

South Korea seeks to stage a large-scale military parade next year to mark the Oct. 1 Armed Forces Day, a defense ministry official said Tuesday, in what could be a major show of force just months after the launch of the country's next administration. The ministry has set aside 7.98 billion won ($6.75 million) for the parade likely to showcase the nation's state-of-the-art military hardware, though a final decision would be made by the new government to be launched in May, the official said. &

GWANGJU -- South Korea’s state-run energy firm, which announced last week a complete exit from coal by 2050, is headed in the right direction, says World Energy Council Secretary-General Angela Wilkinson. Speaking on the sidelines of the 2021 BIXPO energy forum hosted by Korea Electric Power Corp. in Gwangju, Wilkinson said the company’s “Zero for Green” carbon neutrality plan was a symbolic move. “Making public commitments together is a highly symbolic act, it&r

South Korea's military reported nine additional COVID-19 cases Tuesday, bringing the total caseload among its personnel to 2,135, the defense ministry said. Five of the newly added patients tested positive after their family members were infected, the data showed. A Marine Corps draftee stationed on the southern resort island of Jeju tested positive after a virus case was reported at the base. An officer at the arms procurement agency in Gwacheon, south of Seoul, tested positive after develop

A UN official on the human rights situation in North Korea has criticized China for sending back North Korean defectors, describing the practice as a serious challenge to international law, according to a news report Tuesday. "The issue is very serious and the government is challenging international law," Tomas Ojea Quintana, the special rapporteur on North Korea human rights, was quoted as saying by the Voice of America (VOA). He added, "I urge once again the People's Republic

Reporters covering the wife of the ruling party's presidential candidate Lee Jae-myung outside their home have been sent away by police after being warned of potential stalking offenses, officials said Tuesday. According to the Bundang Police Station in Seongnam, South of Seoul, five reporters who were covering Kim Hye-kyung, Lee's wife, in front of her home Monday have been sent away after being warned they could be in potential violation of the anti-stalking law. The journalists reportedly s

South Korean football club Gangwon FC announced Tuesday they've hired former national team striker Choi Yong-soo as new head coach. Choi, 48, is taking over a team in danger of relegation from the top-flight K League 1. With two matches remaining this season, Gangwon FC are in 11th place, second from last, with 39 points, only three ahead of Gwangju FC. The last-place club in the K League 1 will be automatically relegated to the K League 2 for next year. The 11th-place team will face a K Leagu

South Korea ranked 18th out of 85 countries in terms of integrity in the defense sector last year, an international anti-corruption organization said Tuesday. According to the Government Defense Integrity Index (GDI) by Transparency International, South Korea scored 59 points on a 100-point scale, receiving grade C, which means that a country has a moderate risk of corruption in the defense sector, according to Transparency International Korea. GDI is an index analyzing the risk of corruption

System integrator Doosan Logistics Solutions Co. (DLS) said Tuesday it has signed a deal with a local autonomous mobile robot (AMR) manufacturer KN to provide more logistics robots. "As orders for AMRs have increased in recent months, we have diversified the supply chain of AMRs to meet growing demands for them," the company said in an emailed statement. With the latest deal, DLS will be provided with AMRs by two AMR makers -- Chinese AMR maker Geek+ and KN. In November last year