South Korean shares rose Monday, as investors bet on a U.S. rate cut. The local currency slightly lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index added 6.69 points, or 0.25 percent, to close at 2,681.00. Trade volume was moderate at 262.5 million shares worth 8.5 trillion won (US$6.35 billion), with … Read more
The 22nd National Assembly formally kicked off with an opening ceremony Monday, more than three months after it came into operation, with President Yoon Suk Yeol skipping the ceremony amid tensions with the opposition. Yoon’s decision to sit out the ceremony to open the new Assembly and its first regular session came amid the opposition … Read more
South Korea will host an international conference on exploring the responsible use of artificial intelligence (AI) in the military domain next week, the foreign ministry said Monday. The second Responsible AI in the Military Domain (REAIM) conference is scheduled to be held Monday and Tuesday, also to be co-hosted by the Netherlands and Singapore, the … Read more
Dozens of amphibious vehicles carrying South Korean and U.S. Marines charged ashore Monday to secure target areas as part of combined drills designed to enhance their amphibious landing capabilities. The drills took place across two coastal areas in Pohang, 273 kilometers southeast of Seoul, as the key phase of the allies’ annual Ssang Yong (double … Read more
Hyundai Motor Co., South Korea’s leading carmaker, said Monday its August sales slipped 5.3 percent from last year as exports declined. Hyundai Motor sold 332,963 vehicles in last month, down from 333,264 units a year earlier, the company said in a statement. Domestic sales gained 4.6 percent to 68,087 units from 55,555 units during the … Read more
Kia Corp., South Korea’s second-largest automaker, said Monday its August sales fell 1.7 percent from a year earlier amid weakened demand both at home and overseas. Kia, the smaller affiliate of Hyundai Motor Co., sold 251,638 vehicles in August, down from 256,038 units a year ago, the company said in a statement. The company said … Read more