Latest news with #Yonhap
Korea Herald
5 hours ago
- Politics
- Korea Herald
6 more S. Koreans, 1 Iranian family member evacuate Iran amid escalating conflict with Israel
Six more South Koreans and an Iranian family member have safely crossed the border from Iran into neighboring Turkmenistan amid the escalating conflict between Iran and Israel, Seoul's foreign ministry said Friday. Two South Korean nationals and an Iranian family member arrived in Ashgabat on Friday afternoon (local time), in addition to four other South Koreans who had earlier left Iran and reached the Turkmen capital via the same land route, the ministry said. This brings the total number of South Koreans who have left Iran to 37, since the government began operations to assist those wishing to evacuate, including by providing transportation through border checkpoints. Twenty-six South Koreans and four Iranian family members also crossed the border into Turkmenistan by transportation provided by the South Korean government earlier this week. Escalating airstrikes between Israel and Iran have prompted countries to evacuate their nationals from the region. At least 43 South Koreans and their Israeli family members have fled Israel and taken shelter in Jordan. An estimated 110 South Koreans were in Iran and around 500 in Israel before the conflict began last Friday. (Yonhap)
Korea Herald
15 hours ago
- Business
- Korea Herald
Foreign accessibility to Korean equity market still constrained: MSCI
South Korea has taken a series of measures to improve foreign accessibility to its equity and currency markets, but such access still remains limited, global index provider Morgan Stanley Capital International said Friday. In its 2025 market accessibility review report, MSCI said the South Korean market has implemented a series of foreign exchange market reforms, such as the extension of trading hours and the allowance of foreign players to participate in the onshore forex market. The global index provider, however, noted there is no offshore currency market and that constraints persist on the onshore currency market. "Despite these reforms, the registration process continues to face operational hurdles. Moreover, the limited usage of omnibus accounts and over-the-counter transactions has constrained the impact of related regulatory initiatives," it said. MSCI raised its rating on Korea's stock short selling to positive from negative as Seoul fully lifted its stock short selling ban, reintroduced in November 2023, in late March while taking new regulatory and technical measures aimed at enhancing oversight of the trading method. The global index provider said it will continue to monitor developments to assess the stability of the regulations over time. South Korea remained on MSCI's emerging market list last year as the country reimposed the ban on stock short selling. Every year in June, MSCI renews its watch lists of emerging markets and developed markets based on the countries' economic development, size and liquidity of equity markets, and market accessibility for foreign investors. This year's lists are due out next week. (Yonhap)
Korea Herald
15 hours ago
- Politics
- Korea Herald
4 more S. Koreans evacuate Iran amid escalating conflict with Israel
Four more South Korean nationals have safely crossed the border from Iran into neighboring Turkmenistan amid the escalating conflict between Iran and Israel, Seoul's foreign ministry said Friday. The latest evacuation follows the departure of 30 South Koreans and their Iranian family members, who used the same land route to leave Iran and arrive in the Turkmen capital, Ashgabat, between Wednesday and Thursday (local time). The South Korean government provided transportation and consular assistance. Escalating airstrikes between Israel and Iran have prompted countries to evacuate their nationals from the region. At least 43 South Koreans and their Israeli family members have fled Israel and taken shelter in Jordan. An estimated 110 South Koreans were in Iran and around 500 in Israel before the conflict began last Friday. (Yonhap)
Korea Herald
15 hours ago
- Climate
- Korea Herald
Heavy monsoon rain hits most regions; central regions to receive over 150 mm
Heavy downpours are forecast to hit most of South Korea on Friday, including the central and southern regions and Jeju Island, marking the beginning of the year's monsoon season, the weather agency said. The rain will spread to North Gyeongsang and South Gyeongsang provinces during the day, while the southern regions and Jeju may see the downpours ease throughout the day, according to the Korea Meteorological Administration. The greater Seoul area and northern parts of Gangwon Province will receive heavy downpours of 30 to 50 millimeters per hour in the afternoon, whereas the rain will start falling at night for other parts of the province, as well as North Jeolla and South Chungcheong provinces. The weather agency forecasted over 150 millimeters of rain to fall until Saturday in the greater Seoul area, parts of Gangwon Province, North Jeolla Province, South Chungcheong Province and Daejeon. Other regions, including southern Gyeonggi Province, North Chungcheong Province, South Jeolla Province and Gwangju, are anticipating more than 120 millimeters of rain during the same period. The daily highs are expected to range between 23 to 31 Celsius, with the heavy downpours bringing down temperatures slightly below the average. (Yonhap)
Time of India
a day ago
- Business
- Time of India
Energy supply yet to suffer disruption amid Mideast tensions: South Korea
Seoul: South Korea's energy supply has yet to experience any disturbance from the Israel-Iran conflict , Seoul's industry ministry said on Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from the local refinery industry to check the supplies and prices of oil and gas and discuss response measures to uncertainties stemming from the Middle East, reports Yonhap news agency. The ministry said Seoul has not received any reports of disruption in imports of oil and liquefied natural gas (LNG), and that all Korean oil tankers and LNG carriers around the affected region are under normal operation. Korea currently has oil reserves that could last approximately 200 days and gas reserves exceeding the legally mandated level, the ministry explained. The government will prepare responses to possible situations that could affect Korea's energy supply, such as closure of the Hormuz Strait, while working to stabilize energy prices, it added. Global oil prices had surged over 20 percent to US$76.70 per barrel as of Wednesday compared with end-May, according to the ministry, after Israel conducted pre-emptive airstrikes on Iranian military and nuclear facilities, and Iran hit back. To cushion the blow, the Seoul government decided earlier this week to extend its fuel tax cuts, originally set to end in June, through August. It also plans to conduct on-site inspections to crack down on the sale of counterfeit petroleum products. "We will do our best to minimize the impact of Middle East tensions on domestic oil and gas supplies and their prices," said Yoon Chang-hyun, director general for resources industry policy at the ministry. Meanwhile, South Korea has won a 52 million-euro ($59.6 million) deal to supply a key component for the construction of an international experimental fusion reactor being built in France, the science ministry here said. A memorandum of understanding (MOU) has been signed to provide power supply systems for the reactor, part of Seoul's continued contribution to the International Thermonuclear Experimental Reactor (ITER) project, according to the Ministry of Science and ICT.
