Seoul shares open higher on US tech gains

Seoul shares opened higher Thursday, tracking overnight gains of US blue chip tech shares backed by US Consumer Price Index data, which cemented bets for another rate cut by the Federal Reserve. The benchmark Korea Composite Stock Price Index added 20.41 points, or 0.84 percent, to 2,462.92 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite and the S&P 500 gained ground as investors digested the new US CPI, which was in line with expectations and backed forecasts

MarketDec. 12, 2024

Natl. Assembly set to vote on special counsel probe bill into Yoon's insurrection charges

The National Assembly is set to open a plenary session Thursday to vote on a special counsel bill to investigate whether President Yoon Suk Yeol committed insurrection and other violations over his short-lived declaration of martial law last week. The Assembly will also vote on a bill mandating a special counsel probe into two key allegations involving first lady Kim Keon Hee -- her alleged involvement in a stock manipulation scheme and interference in election nominations through a power broker

PoliticsDec. 12, 2024

Prosecutors call in health minister in martial law probe

Prosecutors were questioning Health Minister Cho Kyoo-hong on Thursday as part of a widening investigation into the botched martial law order by President Yoon Suk Yeol, officials said. The special prosecution team handling the probe called Cho in for questioning over his alleged involvement in Yoon's martial law declaration, including his attendance at a Cabinet meeting where the martial law was believed to have been discussed. Cho is the first known Cabinet member to be undergoing questio

PoliticsDec. 12, 2024

N. Korea reports martial law turmoil in S. Korea for 2nd day

North Korea's state media reported on the martial law turmoil in South Korea for a second consecutive day Thursday, saying political chaos is escalating amid calls to impeach President Yoon Suk Yeol. The Korean Central News Agency and the Rodong Sinmun newspaper, which caters to the general North Korean readership, published the same article saying, "Voices of protest demanding the impeachment of the puppet Yoon Suk Yeol regime are escalating every day, further deepening political chao

North KoreaDec. 12, 2024

[Contribution] Korea begins journey toward becoming global science and technology hub

By Yoo Sang-im Minister of Science and ICT Historically, scientific and technological innovations have never been confined to specific countries or regions but have been achieved through global cooperation across diverse nations and areas. In particular, global science and technology hubs, where knowledge, information and human capital converge, have provided a fertile ground for groundbreaking research and innovation. Throughout history, notable hubs for science and technology include Ancient

TechnologyDec. 12, 2024

[Wang Son-taek] How the dead save the living?

Han Kang, one of the renowned Korean writers, finally received the 2024 Nobel Prize in literature medal. Not only the writer herself but also all Koreans welcome and honor her. In her special lecture to commemorate the award, she shared some essential questions that left strong impressions on us. Why is the world so violent and painful? At the same time, why is the world so beautiful? If nothing had happened, the story about the Nobel Prize would have been the top news in Korea for over a week.

ViewpointsDec. 12, 2024

[Eric Planey] Turning point: a people-driven democracy in action

Last Monday night, with a blanket, popcorn and old throw pillows on our laps, my wife Jakyung and I settled into our shared evening couch routine of getting work done on the laptops while re-binging “Emily in Paris” on Netflix for fun and mindless background diversion. My task for that evening was to begin something I hadn’t done since 2018 -- write an op-ed for The Korea Herald. I have been intimately re-studying the economy in Korea for several months -- partially because my

ViewpointsDec. 12, 2024

[Kim Seong-kon] How foreigners see Korea’s martial law incident

These days, those of us old enough to remember our history might be forgiven for having a terrible feeling of deja vu. The last time martial law terrified the South Korean people was in 1980, when General Chun Doo-hwan seized power through Korea’s second military coup and crushed the resisting people ruthlessly. Those of us who are over 50 now vividly remember those nightmare days when curfew was imposed, people were arrested without warrant and military tanks and armored vehicles were lou

ViewpointsDec. 12, 2024

[Contribution] Kazakh-Korean partnership builds on mutual growth, traditional friendship

By Nurgali Arystanov Ambassador of the Republic of Kazakhstan to the Republic of Korea In 2024, Kazakhstan and South Korea strengthened their strategic partnership, achieving new milestones through key diplomatic events. These developments not only reflect the growing ties between the two countries but also highlight the potential for deeper cooperation across various sectors. Strong political dialogue Political dialogue between Kazakhstan and Korea has been strengthened thanks to the close enga

Foreign AffairsDec. 11, 2024

Biden approves national security memo aimed at helping Trump on China, Iran, North Korea and Russia

President Joe Biden has approved a new national security memorandum that is meant to serve as a roadmap for the incoming Trump administration as it looks to counter growing cooperation among China, Iran, North Korea and Russia, the White House said Wednesday. Biden administration officials began developing the guidance this summer. It was shaped to be a document that could help the next administration build its approach from day one on how it will go about dealing with the tightening relations

World NewsDec. 11, 2024

Yoon conducts legal review of martial law decree: ex-defense minister

President Yoon Suk Yeol had conducted a legal review of last week's martial law decree in person while rewriting it, the ex-defense minister, one of the key suspects in the alleged insurrection, said Wednesday. Former Defense Minister Kim Yong-hyun was questioned by prosecutors at a detention facility for the first time since his arrest earlier in the day. During the five-hour questioning, he reportedly testified that President Yoon had conducted a legal review of the martial law declaratio

PoliticsDec. 11, 2024

Yoon's office hands over 'very limited' documents to block police raid

Police ended their hourslong attempt on Wednesday to raid the presidential office as the presidential security service refused to cooperate with their investigation into President Yoon Suk Yeol's alleged insurrection through his brief imposition of martial law last week. Instead, Yoon's office voluntarily submitted "very limited" documents and materials to the police. A team of 18 investigators arrived at the presidential office compound shortly before noon to search for ma

PoliticsDec. 11, 2024

Incumbent KFA chief Chung Mong-gyu cleared to run for 4th term

The incumbent national football chief Chung Mong-gyu was cleared by the top national sports body to go for his fourth term Wednesday. According to the Korea Football Association, the Commission for Fair Play in Sport at the Korean Sport & Olympic Committee gave Chung the green light to run in the Jan. 8, 2025 election. Per KSOC regulations, heads of national sports federations seeking reelection beyond the second term must be approved by the fair play commission. The commission reviewed Chun

SoccerDec. 11, 2024

What if martial law had not been aborted?

With the Dec. 3 martial law decree nullified in just six hours, South Koreans dodged a bullet, possibly quite literally. Criminal investigations into President Yoon Suk Yeol’s martial law declaration have uncovered plans and details suggesting the situation could have unfolded very differently had the National Assembly failed to stop the president. What if the attempt had succeeded? What would South Korea look like under Yoon’s martial law? Here is a scenario based on the martial law

PoliticsDec. 11, 2024

LG CNS rating outlook upgraded ahead of IPO

Korean IT solutions provider LG CNS said Wednesday that it has received an upgraded credit rating outlook from the nation’s top three rating agencies. Korea Ratings, Korea Investors Service and Nice Investors Service have upgraded LG CNS’ rating outlook from AA- stable to AA- positive over the past week. This is the first time since 2009 that the company’s credit rating outlook has been upgraded. The company said its new orders, sales performance, financial stability and compet

IndustryDec. 11, 2024

Foreign minister admits not taking US ambassador's call on martial law night

South Korea’s Foreign Minister admitted to not taking calls from the US Ambassador to Korea, on the night when President Yoon Suk Yeol declared martial law. “I didn’t answer the calls because the situation was too urgent. I didn’t want to mislead the US with an incorrect assessment,” the minister stated during an emergency parliamentary hearing on Wednesday afternoon, in response to a question from Rep. Cho Kuk of the Rebuilding Korea Party. The minister added that

Foreign AffairsDec. 11, 2024