South Korean stocks opened steeply lower Tuesday, tracking a US stock plunge that stemmed from concerns that the resurgence in the new coronavirus and its variants may hamper the ailing global economy. The benchmark Korea Composite Stock Price Index (Kospi) slumped 18.44 points, or 0.57 percent, to 3,225.6 points in the first 15 minutes of trading. Virus worries continued to pull down the Kospi after the key stock index's 1 percent retreat the previous session. Overnight, the big-three US sto

A fingerless South Korean mountaineer went missing after achieving the record-breaking feat of climbing all of the world's 14 highest peaks in the Himalayas, officials here said Monday. "I received a call that Kim Hong-bin went missing on his way down from the peak," Lee In-jeong, president of the Union of Asian Alpine Associations (UAAA), said. "I heard that climbers there tried to rescue him, but failed." Kim reached the summit of the 8,047-meter-high Broad Peak, located

South Korea is making concerted efforts to ensure a stable supply of electricity as the country's power reserves are feared to plumb their lowest level this week amid a heat wave, officials said Tuesday. The country remains gripped by the scorching heat wave in the wake of the annual rainy season, stoking concerns that a surge in electricity consumption could result in a power shortage. To fend off such a scenario, the Ministry of Trade, Industry and Energy said it will likely resume operation

Twenty-three people affiliated with US Forces Korea (USFK), including 18 service members, have tested positive for the new coronavirus, the US military has said, amid the fourth wave of the pandemic across the country. Of them, 11 service members were from Kunsan Air Base in the western city of Gunsan. They were confirmed to have contracted COVID-19 after showing symptoms or coming into contact with the infected individuals, according to USFK in a release Monday. At Camp Casey in Dongducheon,

South Korea's corporate direct financing rose 34.2 percent in the first half from a year ago due to a robust rise in sales of bonds and stocks, data showed Tuesday. Local companies raised a combined 122 trillion won ($107 billion) by selling stocks and bonds in the January-June period, up 31.2 trillion won from a month ago, according to the data from the Financial Supervisory Service (FSS). Corporate stock sales soared 486.9 percent to 10.4 trillion won, with the value of initial public offeri

WASHINGTON -- The United States maintains and continues to advance its capabilities to counter any cyber attacks from countries such as China and North Korea, a Pentagon spokesman said Monday. John Kirby made the remarks as the US, along with a long list of its allies including the European Union and the North Atlantic Treaty Organization, called out China as a state sponsor of malicious cyber activities. accusing China's Ministry of State Security of hiring contract criminal hackers to carry o

South Korean superband BTS has added another feat to its copious list of accomplishments: replacing one of the group's own songs at No. 1 on the Billboard Hot 100 and scoring back-to-back debuts atop the list. The septet's third English number, "Permission to Dance," debuted at No. 1 on the Billboard's main singles chart, becoming the group's fifth song to top the chart. 'Permission To Dance' officially debuts at No. 1 on this week's Hot 100. It earns the group its fifth career No. 1

A South Korean aerial tanker carrying members of the virus-hit Cheonghae unit departed Africa on Monday to bring the troops home from an overseas anti-piracy mission, the defense ministry said, after 247 of them tested positive for the new coronavirus in the worst-ever mass infection among service members. The military sent two KC-330 multirole aerial tankers to Africa the previous day to bring back all the members of the 301-strong unit under an operation codenamed "Mission Oasis,"

NARITA -- South Korean Olympic chief Lee Kee-heung insisted on Monday the International Olympic Committee (IOC) has promised in writing that it would ban the display of a Japanese imperialist flag during the upcoming Tokyo Olympics, a pledge made when South Korea was asked to remove banners the IOC believed to be political. Upon arriving in Japan on Monday, Lee, president of the Korean Sport & Olympic Committee and also an IOC member, said the IOC is hoping both South Korea and the host cou

President Moon Jae-in reaffirmed Monday that the government will expand substantive support for small businesses hit hard by the COVID-19 pandemic. To that end, he said the government will try to modify a proposed supplementary budget bill in the process of discussions at the National Assembly. "It is the most regrettable and apologetic thing that the self-employed and micro and small merchants are suffering increasing damage due to the resurgence of the coronavirus and strengthening of a

The Seoul city government has decided to ban all rallies planned to take place around the upcoming Aug. 15 Liberation Day due to concerns over the rapid spread of the coronavirus, sources said Monday. According to the sources, the city government recently notified civic organizations that they are not allowed to hold rallies from Aug. 14-16. Some groups have already reported to police that they will hold such events during the period. The notice has been sent to liberal groups, such as the Sou

South Korean stocks retreated 1 percent Monday amid concerns about the resurgence of new coronavirus cases and mixed signals in the US economic indicators. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slumped 32.87 points to close at 3,244.04 points. Trading volume was moderate at about 1.1 billion shares worth some 12.6 trillion won ($11 billion), with losers outnumbering gainers 679 to 184. Foreigners sold a net 454 billion won, while re

GANGNEUNG -- Gangneung, one of South Korea's most popular destinations for summer vacationers, mulls over the nighttime closure of beaches and other unprecedented quarantine measures against COVID-19, officials said Monday, following an earlier decision to lift its social distancing rules to the toughest restrictions of Level 4. Gangneung, an east coast city 240 kilometers from Seoul, has said that Level 4, the highest in the nation's four-tier social distancing system, will be enforced for sev

South Korea has continued to report a rising number of the highly transmissible delta variant cases, adding 719 of such cases over the past week, health authorities said Monday. The number of new delta cases accounted for 71.8 percent of 1,001 new cases of four major contagious variants of the new coronavirus reported over the cited period, according to the Korea Disease Control and Prevention Agency (KDCA). The number of new delta variants came to only 17 during the third week of June but sur

Police said Monday they have booked on suspicion of graft the former special counsel responsible for investigating a corruption scandal involving former President Park Geun-hye. Park Young-soo, who investigated the scandal surrounding the now-imprisoned former president for over four years, resigned earlier this month following allegations that he accepted a Porsche rental car and seafood from a man who claimed to be a fisheries businessman last December. An official with the Seoul Metropolita