South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street, with tech shares weighing on the main index. The benchmark Korea Composite Stock Price Index (KOSPI) fell 29.89 points, or 1.01 percent, to 2,926.41 in the first 15 minutes of trading. The Dow Jones Industrial Average retreated 0.7 percent to 34,496 as a global energy crunch increased concerns about inflation. The tech-heavy Nasdaq composite declined 0.6 percent to 14,486. The Korean stock market closed Monda

South Korea‘s top tobacco maker KT&G plans to build a forest as part of their efforts to help tackle the global climate crisis. The opening ceremony for the project took place last Wednesday with officials from KT&G, Eastern Province Forest Service and social enterprise Tree Planet. The new project is designed to contribute to carbon neutrality with trees planted to pull in carbon dioxide and fine dust, helping reducing greenhouse gas. Once the forest has been built, the plan wi

South Korean biopharmaceutical firm Celltrion Inc. said Tuesday that it has sought European approval for the sale of its anticancer biosimilar candidate. The European Medicines Agency will review Celltrion's application to sell CT-P16, which references Switzerland-based Roche Holding's blockbuster pill Avastin. Avastin, which kills cancer cells by removing blood vessels, is approved to treat numerous cancers, including metastatic colorectal cancer. Avastin raked in sales of 7.7 trillion won (

South Korea's exports jumped 63.5 percent on-year in the first 10 days of October on the back of robust demand for chips, petroleum products and autos, customs data showed Tuesday. The country's outbound shipments stood at $15.2 billion in the Oct. 1-10 period, compared with $9.28 billion a year earlier, according to the data from the Korea Customs Service. Imports increased 58.6 percent on-year to $17.6 billion, resulting in a trade deficit of $2.46 billion during the cited period, the data s

North Korean leader Kim Jong-un has called for boosting the country's military capabilities to counter what he called "hostile forces" against Pyongyang but said the move is not aimed at a war against South Korea or the United States. Kim made the remarks Monday in a speech at a defense development exhibition to mark the 76th founding anniversary of the ruling Workers' Party, criticizing Seoul and Washington over their combined military exercises and weapons development. "The Un

A top South Korean national security official said Monday that he plans to discuss President Moon Jae-in's recent proposal for the declaration of a formal end to the 1950-53 Korean War and other issues with senior US officials in Washington this week. Suh Hoon, director of national security at Cheong Wa Dae, made the remarks upon arrival in the US, as Seoul strives to bring North Korea back to dialogue and pave the way for the resumption of nuclear talks between the United States and the North,

South Korea's exports of kimchi climbed nearly 14 percent in the first eight months of 2021 on growing overseas demand for healthier food amid the new coronavirus pandemic, data showed Tuesday. Outbound shipments of kimchi reached $111.5 million in the January-August period, up 13.8 percent from a year earlier, according to the data from the Korea Customs Service and the food industry. In contrast, imports of kimchi shrank 9.7 percent on-year to $86.1 million over the cited period, resulting i

“Those of us who conduct foreign policy haven’t always done a good job connecting it to the needs and aspirations of the American people,” said Secretary of State Antony Blinken in his first major speech. President Joe Biden’s administration, he said, seeks to change that and is calling this approach a “Foreign Policy for the Middle Class.” According to the Chicago Council on Global Affairs’ new survey on American Attitudes toward US foreign policy, the