International

South Korea logs record current account surplus with US in 2024

South Korea logs record current account surplus with US in 2024

South Korea posted a record current account surplus with the United States last year, driven by strong exports of semiconductors, while it recorded a current account deficit with China, central bank data showed on Friday.

South Korea's current account surplus with the US totalled an all-time high of $118.23 billion in 2024, widening from a $87.76 billion surplus the previous year, according to the Bank of Korea (BOK), reports news agency.

"The increase was attributable to rising exports of semiconductors and information and communication technology equipment, while the primary income account surplus also expanded due to higher dividend income," the BOK said in a release.

But South Korea reported a current account deficit of $29.04 billion with China in 2024, though the figure narrowed slightly from a $29.25 billion deficit the year before.

North Korea reaffirms commitment to defence treaty with Russia

North Korea reaffirms commitment to defence treaty with Russia

North Korea on Thursday reaffirmed its commitment to a mutual defence treaty with Russia, marking the first anniversary of its signing amid growing military cooperation between the two nations.

North Korean leader Kim Jong-un and Russian President Vladimir Putin sealed the Comprehensive Strategic Partnership treaty on June 19, which calls for either side to provide the other assistance "without delay" if one of them comes under armed attack.

20 South Korean families evacuate Iran amid escalating Israel-Iran conflict

20 South Korean families evacuate Iran amid escalating Israel-Iran conflict

Twenty South Korean nationals and their family members have evacuated Iran via a land route and arrived safely in Turkmenistan amid escalating tensions between Israel and Iran, the foreign ministry said.

Eighteen South Koreans and two Iranian family members crossed the border into the Central Asian country by transportation provided by the South Korean government Tuesday morning (local time) and arrived in the capital, Ashgabat, the next day, the ministry said.

The eastern border land route chosen by the government is about 1,200 kilometres, and it takes around 16 hours to travel by bus without breaks, a ministry official said.

A rapid response team from Seoul was in Turkmenistan to assist with the evacuation efforts.

North Korea fires 10 multiple rocket launcher shells after trilateral air drills

North Korea fires 10 multiple rocket launcher shells after trilateral air drills

North Korea fired around 10 artillery shells from its multiple rocket launcher system on Thursday, South Korea's military said, a day after the South conducted joint air drills with the United States and Japan.

The North fired the shells toward the Yellow Sea at around 10 a.m. from the Sunan area near Pyongyang, the military said, adding that South Korean and US intelligence authorities are conducting an analysis of the latest weapon test.

The North's 240mm multiple rocket launcher puts Seoul and its adjacent areas in target range. Last year, the North conducted a test-launch of what it claimed to be a multiple rocket launcher equipped with a new guidance system, news agency reported.

The weapon test came a day after South Korea, the US and Japan conducted a three-way aerial exercise as part of efforts to strengthen their trilateral security cooperation against North Korean military threats.

North Korea slams Israel's attack on Iran as 'hideous act'

North Korea slams Israel's attack on Iran as 'hideous act'

North Korea on Thursday condemned Israel's recent air strike on Iran as a "hideous act" of aggression, saying Israel, backed by the United States and the West, is a "cancer-like" entity in threatening peace in the Middle East.

A spokesperson at North Korea's foreign ministry voiced "serious" concerns about Israel's military attack against Iran on Friday, denouncing Israel for raising the danger of a fresh all-out war in the Middle East, according to the Korean Central News Agency (KCNA).

"The present grave situation witnessed by the world clearly proves that Israel, supported and patronised by the US and the West, is a cancer-like entity for the peace in the Middle East and a chief culprit of destroying global peace and security," the official was quoted as saying by the KCNA.

Iran ballistic missile hits hospital in Israel, dozens injured

Iran ballistic missile hits hospital in Israel, dozens injured

An Iranian ballistic missile struck Soroka Hospital in Israel's Beersheba, seriously injuring several patients, doctors, and staff as the conflict entered its seventh day on Thursday.

"Soroka Hospital in Beersheba -- where Jews, Muslims, Christians, and Arab Bedouin receive care -- was just hit by an indiscriminate Iranian ballistic missile. Israel will continue to do what must be done to protect all its people, from all walks of life," the Israel Foreign Ministry said in a post on X.

According to the Israeli Defense Forces (IDF), Iran fired around 30 ballistic missiles at Israel on Thursday, and one of them struck the hospital in Beersheba.

President of Israel, Isaac Herzog, took to his social media to narrate the horrific scenes in the hospital after the attack on the civilians.

South Korea vows enhanced market monitoring, swift responses amid Mideast crisis

South Korea vows enhanced market monitoring, swift responses amid Mideast crisis

The government will enhance monitoring of the economy and financial markets and devise appropriate responses based on contingency plans amid escalating tensions in the Middle East, the finance ministry here said on Thursday.

The pledge was made during a meeting on macroeconomic issues presided over by Acting Finance Minister Lee Hyoung-il and attended by Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai, along with senior officials from the Financial Services Commission and the Financial Supervisory Service, according to the Ministry of Economy and Finance.

"Following Israel's airstrike on Iran, volatility in commodity prices and global financial markets has increased," Lee said, reports news agency.

"The domestic financial market remains relatively stable, but uncertainty remains high due to the Israel-Iran conflict, as well as unclear U.S. tariff policies," he added.

World leaders impressed with achievement of Israeli forces: Netanyahu

World leaders impressed with achievement of Israeli forces: Netanyahu

Israeli Prime Minister Benjamin Netanyahu has said that the world leaders have expressed admiration for the determination and accomplishments of the Israeli forces.

The escalating conflict between both nations began last Friday when Netanyahu announced the launch of 'Operation Rising Lion' against Iran, a targeted military operation to roll back the Iranian threat of nuclear weapons.

This action prompted swift and aggressive retaliation from Tehran, pushing the region closer to the brink of a broader war.

"I must tell you that I speak with world leaders, and they are very impressed by our determination and the achievements of our forces. They are also greatly impressed by you, citizens of Israel, by your strong spirit and by your steadfastness," said Netanyahu, addressing the nation on Wednesday.

Air pollution reduces life expectancy in Nepal by 3.4 years: Report

Air pollution reduces life expectancy in Nepal by 3.4 years: Report

Air pollution has emerged as the leading health hazard for death and disability in Nepal, with the Kathmandu Valley and the Terai region emerging as air pollution hotspots of the country, according to a new World Bank Report.

The report stated that air pollution reduced life expectancy by 3.4 years for the average Nepali and caused approximately 26,000 premature deaths annually.

The report titled 'Towards Clean Air in Nepal: Benefits, Pollution Sources, and Solutions,' released on Tuesday, served as a foundational assessment of air pollution in the country and the airshed of the Indo-Gangetic Plain and Himalayan Foothills.

OHCHR flags China over 'infringement' of Tibetian rights

OHCHR flags China over 'infringement' of Tibetian rights

United Nations High Commissioner for Human Rights Volker Turk has raised serious concerns over "ongoing infringements" on the rights of people living in Tibet and called to align legislation and policies with international human rights law.

Addressing the 59th session of the Human Rights Council in Geneva, the UN Human Rights Commissioner (OHCHR) detailed a grave assessment of the current global landscape.

He asserted that he has continued to engage directly with China on a wide range of issues.

Raising concerns about the human rights violations in China, Turk highlighted the lack of progress on much-needed legal reform to ensure compliance with international human rights law.

"In Tibet, there are ongoing infringements on cultural and other rights. I call for the release of all individuals detained for exercising their rights and to align legislation and policies with international human rights law," the UN human rights chief stated.

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