🇰🇷 South Korea · Finance & markets, War & conflict
83 storiesTurkey, Pakistan to deploy forces to Saudi Arabia under Mecca defense pact
Turkey and Pakistan said they will provide agreed military forces and take steps to deploy them rapidly to Saudi Arabia, after an emergency meeting in Riyadh on Oct. 5, in the first practical activation of the Mecca Joint Defense Agreement …
New York stocks close higher; S&P 500 and Nasdaq hit record highs
New York's main stock indices closed higher, with Kukmin Ilbo reporting SpaceX up 7.62% and Asia Economy noting the rise came even as the 10-year US Treasury yield renewed a high. In the following US session, Chosun Ilbo reported the S&P 50…
Court suspends Korea Exchange delisting decisions over market-cap rules
A Seoul court on Oct 2 granted injunctions suspending the Korea Exchange's delisting decisions against KOSPI-listed Joo Yeon Tech and KOSDAQ-listed KM Pharma. The court questioned the rule requiring a company to stay above the market-cap th…
Tanker strikes continue in Strait of Hormuz as oil price tops $100 again
Iran's Revolutionary Guard navy attacked at least seven tankers in the Strait of Hormuz over five days, Iran's semi-official Fars news agency reported, according to Dong-A Ilbo and Yonhap. The UK maritime trade body UKMTO said a tanker was …
Nvidia sets second straight record close; Korean AI supply chain shares rally
Nvidia closed 2.1% higher at $238.90 on October 5 in New York, a second consecutive record close, lifting its market capitalisation to about $5.76 trillion and putting the first $6 trillion valuation within reach. Korean outlets also report…
South Korea defense minister says North Korea bears all responsibility for DMZ mine blast
South Korea's Joint Chiefs of Staff concluded that North Korean mines laid south of the Military Demarcation Line caused a Sept. 21 mine explosion that injured South Korean soldiers at the western front DMZ, and it demanded a sincere apolog…
Nasdaq closes at record high as AI stocks rally despite rising Treasury yields
US stocks rose on October 5 local time, with the Nasdaq Composite closing at a record high as technology and AI-related shares gained despite rising Treasury yields. Yonhap reported the Dow rose 0.18% to 51,267.90 and the S&P 500 gained 0.6…
Zelensky says Russia appears to have shared jet-drone technology with North Korea
Ukrainian President Volodymyr Zelensky said Russia appears to have shared jet-propelled drone technology with North Korea, telling reporters “they share all technologies with North Korea.” He said North Korean soldiers captured by Ukraine h…
Musk regains trillionaire status as SpaceX shares jump 7.63%
SpaceX shares closed 7.63% higher at $171.09 on Oct. 5, their highest level in about three months, after Morgan Stanley set a $300 target price. Forbes put Elon Musk's net worth at $1.046 trillion (about 1,400 trillion won), returning him t…
JCS: North Korean mines caused DMZ blast; military clears minefield south of MDL
South Korea's Joint Chiefs of Staff said a Sept. 21 explosion in the western-front Demilitarized Zone that seriously injured a soldier was caused by a North Korean plastic anti-personnel mine laid south of the Military Demarcation Line. JCS…
North Korea says mid-range strategic missile drill held; Seoul calls it hypersonic
North Korea said it carried out a mid-range strategic missile launch drill toward the East Sea at dawn on Oct. 3, with state media reporting that Kim Jong Un observed it and that his daughter Ju Ae attended. South Korea’s Joint Chiefs of St…
North Korea calls DMZ landmine finding a “self-staged play”, warns on border
North Korea’s foreign ministry said South Korea’s final conclusion that North Korean mines caused a DMZ explosion was a “self-staged play” and a grave provocation, and warned of an immediate, strong response if its territory is violated by …
Yemen government forces say they secured Bab el-Mandeb after Houthi counteroffensive
Yemen's government forces said on Oct 5 that they had secured the Bab el-Mandeb strait, a day after Rashad al-Alimi declared the start of a military operation to retake territory held by the Iran-aligned Houthis. Government forces said they…
Flydubai first officer planned to crash jet into Ben Gurion airport, reports say
A flydubai first officer attacked the captain of a Dubai–Tel Aviv flight on Sept 30 and later told UAE investigators he intended to crash the aircraft, with later reports citing Israeli officials saying Ben Gurion airport may have been the …
U.S. withdraws 12 B-1 bombers from U.K. base over reported Iran drone threat
The Pentagon confirmed that all 12 B-1 bombers stationed at RAF Fairford in Gloucestershire, England, were returned to U.S. bases over the weekend. Yonhap, citing the Wall Street Journal and the New York Times and U.S. and British officials…
Second National Growth Fund round sells 316.2 bln won in four days, 52.7% of target
The second round of South Korea's state-backed National Participation National Growth Fund sold 316.2 billion won in its first four days, 52.7% of its 600 billion won target, the Financial Services Commission said. The remaining 283.43 bill…
North Korea fires ballistic missile; South concludes DMZ blast caused by North's mines
North Korea fired a ballistic missile from the Wonsan area toward the East Sea at about 6:30 a.m. on Oct. 3; South Korea's Joint Chiefs of Staff said it flew more than 700 km, while North Korea claimed 1,000 km and Japan's Defense Ministry …
Rival parties clash at Seoul audit over single-stock leveraged ETF losses
Ruling and opposition lawmakers clashed at the National Assembly's Strategy and Finance Committee audit of the finance ministry on October 6 over single-stock leveraged ETFs and related documents. The opposition demanded presidential office…
New York stocks open mixed as 10-year Treasury yield holds near 5.3%
New York's main stock indices opened mixed on October 5, with the Dow Jones Industrial Average down about 0.27% as the 10-year US Treasury yield held around 5.3%, a level Asia Economy described as the highest in several years. The S&P 500 a…
Youth Future Savings Account second round opens Oct 7 with up to 19.4% effective rate
The second round of applications for South Korea's Youth Future Savings Account runs from Oct 7 to Oct 16, with the first two days split by odd and even birth years, the Financial Services Commission and the Korea Inclusive Finance Agency s…