Seoul News

South Korea’s current account surplus hit a nine-month high in July thanks to record exports despite global economic uncertainty, the central bank said Monday. The surplus reached $4.94 billion in July, more than double a revised $2.03 billion the previous month, the Bank of Korea said. The July surplus in the account — the broadest More >

A municipal vote in Seoul on Wednesday over free school lunches is shaping up as a test of South Koreans’ sentiment on government welfare spending, and the outcome is expected to influence races in parliamentary and presidential elections next year. Seoul Mayor Oh Se-hoon, a member of the conservative Grand National Party that controls the More >

For a case study on the fear and confusion that coursed through Asian markets on Monday, take South Korea. In line with many other markets in the region, the main Kospi stock index was down around 3% for much of the day. Then it fell off a cliff. In less than an hour, beginning around More >

South Korea has prevented three conservative Japanese politicians from entering the country in an escalating diplomatic spat over disputed islands. Lee Myung-bak, South Korea’s president, who has forged warm ties with Japan to preserve a common front against North Korea, has taken an unusually muscular approach to the visit because the islands, known as Dokdo More >

The law, passed by Parliament last year, applies to sex offenders who have committed crimes against minors under 16 and are at high risk of recidivism. Under the law, offenders would receive drug treatment to reduce their sex drive in addition to behavioral and psychological therapies.

In more signs of a possible thaw in relations between North and South Korea, Seoul yesterday requested talks with the North regarding the Mount Kumgang resort on Friday and also decided to allow flour aid to cross the inter-Korean border for the first time in eight months. The Ministry of Unification made a request yesterday More >

South Korea is speeding up efforts to introduce a special tax in preparation for the possible reunification with North Korea, according to officials at the Ministry of Unification. “We are mapping out details on how to help finance the massive costs of potential unification with the North,” a senior official has said. The move for More >

Seoul shares are set to fall for a third successive session on Tuesday, hit by concerns that Europe’s debt crisis may claim more countries and rattle global financial markets. U.S. stocks suffered their worst day in nearly a month on Monday, as growing debt problems in the eurozone prompted investors to hedge against further losses. More >

South Korea’s current account surplus rose to its highest level for seven months in May as dividend payments to foreign investors fell, official figures showed Tuesday. The surplus, the broadest measure of trade with the rest of the world, was $2.26 billion last month compared to a revised $1.28 billion in April and $4 billion More >

The top U.S. commander in South Korea said yesterday North Korea is likely to launch more military attacks against the South, but Seoul and Washington are prepared to more adequately address the threat. “While the Kim regime has proven a willingness to escalate in order to obtain what it wants, I am convinced that the More >