South Korea
Seoul stocks open sharply lower amid Middle East crisis fears
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South Korean stocks opened sharply lower on Monday amid rising concerns over a broader Middle East conflict after Iran-backed Houthi militants in Yemen fired missiles at Israel. The benchmark KOSPI fell 240.94 points, or 4.43 percent, to 5,197.93 in the first 15 minutes of trading. Global oil prices climbed while U.S. troop deployments heightened fears.
South Korean asset management firms' combined net profit for 2025 surged 67 percent to 3.01 trillion won. Preliminary data from the Financial Supervisory Service attributes the rise mainly to increased commission income. Assets under management also grew significantly.
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South Korea will seek a rebound against Austria in a pre-World Cup friendly after a 4-0 loss to Ivory Coast. The first-ever meeting between the teams is set for Tuesday at Ernst-Happel-Stadion in Vienna. Coach Hong Myung-bo plans to refine his back-three formation despite defensive struggles.
North Korea and Russia have signed a media cooperation agreement. The North's Korean Central News Agency reported on March 29 that it inked a news exchange and cooperation deal with Russia's Tass news agency. The pact signals deepening ties between Pyongyang and Moscow.
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North Korean leader Kim Jong-un oversaw a ground test of a high-thrust solid-fuel missile engine made with composite carbon fiber material, KCNA reported. The engine achieved a maximum thrust of 2,500 kilonewtons as part of the country's five-year national defense development plan.
South Korean stocks closed slightly lower Friday amid mixed US signals on its war with Iran and eased chip sector concerns. The benchmark KOSPI fell 0.4 percent to 5,438.87, while the won weakened against the dollar.
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The Uijeongbu District Court issued an arrest warrant on Friday for Park Wang-yeol, a 48-year-old notorious drug trafficker repatriated from the Philippines. The court cited risks of flight and evidence destruction. He arrived in South Korea in handcuffs on Wednesday and was immediately placed in police custody.
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