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(LEAD) Seoul shares spike over 1 pct on eased U.S. recession woes

South Korean stocks closed more than 1 percent higher Monday, recovering from last week’s rout as concerns over a U.S. economic recession eased. The local currency lost ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index …

Exports rise 16.7 pct during first 10 days of August

South Korea’s exports rose 16.7 percent on-year in the first 10 days of August, data showed Monday, on the back of the strong performance of semiconductors.

Outbound shipments reached US$15.5 billion in the August 1-10 period, compared with $13.2 bi…

(LEAD) Yoon names new defense minister, national security adviser

President Yoon Suk Yeol named Presidential Security Service (PSS) chief Kim Yong-hyun as new defense minister while Defense Minister Shin Won-sik was named as new national security adviser, his office said Monday.

National security adviser Chang Ho-…

Krafton acquires Japan’s Tango Gameworks

Krafton Inc., a South Korean game firm, said Monday it has acquired Tokyo-based game studio Tango Gameworks.

Krafton said it will absorb Tango Gameworks’ developers and the rights to its acclaimed rhythm action combat game Hi-Fi RUSH, according to t…