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Seoul stock traders react with concern to the Korean won's 17-year low and KOSPI plunge amid Middle East conflict oil fears.
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Korean won opens at 17-year low amid Middle East conflict

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The Korean won opened at 1,519.9 per U.S. dollar in Seoul on Tuesday, hitting its weakest level in 17 years. Fears of global oil supply disruptions grew due to the escalating Middle East conflict. The KOSPI index also opened nearly 3 percent lower.

President Lee Jae-myung is scheduled to meet a delegation of U.S. House lawmakers on Tuesday amid the Middle East war and ongoing Seoul-Washington talks on South Korea's $350 billion investment plan in the U.S. under a bilateral trade deal.

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K-pop supergroup BTS debuted at No. 1 on the Billboard Hot 100 with 'Swim,' securing their seventh chart-topper. The upbeat track leads their fifth studio album 'Arirang,' which also topped the Billboard 200. The achievement follows a nearly four-year hiatus from group activities.

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.

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Former Prime Minister Kim Boo-kyum will formally declare his bid for Daegu mayor ahead of the June local elections, party officials said. He plans to make the announcement at the National Assembly and in the southeastern city on Monday. The move is seen as the Democratic Party's (DP) effort to challenge the conservative stronghold.

A victim of Japan's sexual slavery of Korean women during World War II has died, reducing the number of officially registered survivors to five, South Korea's gender ministry said. Gender Equality Minister Won Min-kyong offered condolences without disclosing the victim's identity, as requested by the family. She pledged continued support for the remaining survivors.

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A fire broke out early Saturday at Gyeongbok Palace in Seoul, damaging part of a wooden gate and pillar, but was extinguished within 15 minutes with no casualties. The Korea Heritage Service cited spontaneous combustion as a possible cause.

 

 

 

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