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About this Episode
The latest news from home and abroad, with a close eye on Northeast Asia and the Korean Peninsula in particular
Hosts & Guests
Transcript
From Seoul, Korea, KBS World Radio News today starts right now.
On today's broadcast, the benchmark cost be plunged more than 12% spark by the U.S. war with Iran,
marking its sharpest single-day decline on record.
The government safely evacuates more than 100 nationals from Iran in Israel
and has various agencies standing by to assist Koreans at risk in the region.
And President E.J. Myeong visits a Korean war memorial in Manila
on the final day of its two-day state visit to the Philippines.
This is KBS World Radio News. I'm Daniel Choi.
South Korean stocks fell by the widest margin ever on Wednesday amid the fallout
from the war between the United States and Iran.
The benchmark cost be and the tech heavy cost plunged over 12% and 14% respectively
with circuit breakers activated during the session.
Yoon Soo Young has more.
The benchmark Korea composite stock price index on Wednesday opened 3.44% lower at 5,592.59.
The cost be widened its losses throughout the morning prompting a circuit breaker shortly after
the index fell more than 8% from the previous close for over one minute.
A similar circuit breaker was also activated on the tech heavy cost act market at 1116 AM
as shares tumbled over 8%.
Earlier in the session, the Korea Exchange also activated a side car,
a five-minute suspension of program cell orders after cost be 200 futures
slid more than 6%.
Foreign investors continued their selling spray from the previous session
while major caps, Samsung electronics and SK high-nix
slid more than 11% and about 10% respectively.
Heightened tensions in the Middle East fueled demand for safe haven assets
sharply weakening the South Korean one.
The $1 rate briefly surpassed $1,501 overnight
and hit $1,501 its highest level since the 2009 financial crisis.
The Bank of Korea held an emergency meeting to assess market volatility
with central bank governor Itang-yong postponing an overseas trip to preside over the session.
The central bank decided to closely monitor excessive swings in the currency,
interest rates and stock prices as market fluctuations could intensify
depending on the developments in the Middle East.
Yoon Soo-hyeon, KBS World, radio news.
In view of the escalating tensions in the Middle East,
South Korea is actively tracking some 20,000 of its citizens in the region.
The central government has put the national police, the military,
and even the spy agency on standby to assist South Koreans at risk
and more than 100 people have already left Iran in Israel with help from Seoul's embassies.
Rosenbach has more.
Seoul's foreign ministry says 137 people from South Korean communities
in Iran and Israel have been safely evacuated to nearby countries
following U.S. and Israeli strikes on Iran.
One group of 24 people staying in Tehran, which included South Koreans
as well as embassies staff and their families,
border two buses rented by the embassy and cross the border into Turkmenistan
on Tuesday local time.
Meanwhile, 66 South Koreans fled the Israeli cities of Tel Aviv and Jerusalem
on a rental bus and safely cross the border into Egypt,
where they were joined by 47 short-term visitors.
Estimated that around 21,000 South Korean citizens and ethnic Koreans,
including travelers, are currently staying in 13 Middle Eastern countries.
Among them, some 4,000 are believed to be on short-term stays in the United Arab Emirates.
On Wednesday, Korea's standard time, the government said it's monitoring the situation
in the region through various channels to ensure that nationals in need of help
can return home or evacuate to see for areas.
The Korean National Police Agency is ready to send quick response teams
to support stranded people, while the military is prepared to dispatch transport planes.
The Joint Chiefs of Staff also confirmed the Chung-enabled unit station
in the Gulf of Aden, near Somalia, remains fully prepared for instructions
and response to changes in the situation.
The National Intelligence Service, which has formed a 24-hour situation team,
says it's assessing risks to the national interests,
and warns that terrorist groups may use the chaos in the Middle East
as an opportunity to exploit security vacuums.
Rosie and Park KBS World Radio News.
President E.J. Myeong visited a Korean War Memorial in the Philippine Capitol on Wednesday.
The final day was two-day state visit.
E.d. dressed in a black suit appeared at the Hero's Cemetery in Manila,
accompanied by Deputy Prime Minister and Minister of Science in ICT,
Moon, Minister of Foreign Affairs Choi Hyun,
and National Security Office Director Lee Sung-na.
Philippine government officials, including Defense Chief Gilberto,
Teodor Jr., and the Administrator of the Veterans Affairs Office,
also took part as he laid flowers and paid tribute in front of a monument
built in honor of the thousands of Filipino soldiers who fought in the Korean War.
President E.o. greeted surviving veterans and descendants of veterans at the event
and invited them to visit South Korea.
The Philippines was a key Asian ally that sent 7,420 troops
to fight in the war alongside South Korean forces as part of a UN coalition.
You are now listening to the news from KBS World Radio's News Center in Seoul, Korea.
U.S. President Donald Trump says he intends to announce different tariffs on different countries
under Section 1-2-2 of the 1974 Trade Act after the U.S. Supreme Court
struck down the sweeping emergency tariffs he imposed last year.
During a joint press conference following a meeting with Truman Tasseler
at the White House on Tuesday, Trump said his administration is freed
to levy tariffs of up to 15% for up to five months in accordance with the Trade Act.
The American President said, though the country's top court rejected the sweeping tariffs
he imposed under the 1977 International Emergency Economic Powers Act,
it also acknowledged that there are many other ways the U.S. can impose duties.
The remarks suggest that Washington could pursue country and sector-specific tariffs
in accordance with Section 301 of the Trade Act and Section 232 of 1962 Trade Expansion Act.
Trump claimed that every single country it has made a deal with once to keep that same deal,
referring to major investment pledges and commitments to purchase U.S. goods in return for lower tariffs.
Admiral Kang Dong-gyul has resigned as Chief of Naval Operations
after being disciplined for his alleged involvement in former President Yoon Sang-yul's
martial law bid in late 2024.
The Defense Ministry is reported to have handed down a one-month suspension from duty
considered a heavy disciplinary action.
The Ministry said Wednesday that Kang was disciplined for a dereliction of duty
over the martial law case.
Kang was referred to the Ministry's disciplinary committee last week,
an allegation that he participated in the formation of a situation room
during the short time that martial law was in effect when he headed the Chief Directorate
of Military Support at the Joint Chiefs of Staff.
This is the first time a four-star Admiral or General has received such a serious penalty.
The art collection of the late Samsung Group Chief Igon-hee is set to go on display
in Chicago after a stop in Washington, D.C.
The National Museum of Korea and the National Museum of Modern and Contemporary Art
said Wednesday that the overseas Turing Exhibition, Korean National Treasures
2,000 years of Korean art will open Saturday at the Art Institute of Chicago.
The show features 244 artworks and cultural artifacts including seven national treasures
and 15 treasures.
13 modern and contemporary works by artists such as Park Su-gun and Kim Hwang-gyi
will also be displayed.
After running in Chicago through July 5th,
the exhibition will travel to London for a showing at the British Museum.
And that's the news from KBS World Videos New Century in Seoul, the Sesame Daniel Chair.
