Cheong Wa Dae to launch task force to deal with Japanese export restrictions

A task force and a situation team will be launched to deal with the recent decision by Japan to remove Korea from its “whitelist” of trusted trade partners, Seoul’s presidential office said Friday.“(Cheong Wa Dae) expresses deep regret over the Abe government’s decision to remove Korea from the whitelist,” Cheong Wa Dae spokesperson Ko Min-jung said.  Saying Seoul had continually called for dialogue with Japan, she added that efforts had been made to reso

Foreign AffairsAug. 2, 2019

S. Korean political circle in emergency mode to tackle Japan's 'whitelist' decision

South Korea's parliament and political parties held emergency meetings Friday to draw up measures to tackle Japan's decision to remove South Korea from a list of trusted trading partners.Earlier in the day, Japan's Cabinet approved a proposal to strip South Korea from the "whitelist" of countries subject to preferential trade status in additional economic retaliation over a row surrounding Japan's wartime forced labor.National Assembly Speaker Moon Hee-sang expressed "deep regret&

PoliticsAug. 2, 2019

Top diplomats of S. Korea, US, Japan to meet trilaterally amid tensions over whitelist exclusion

The top diplomats of South Korea and Japan faced off Friday over Tokyo's decision to remove Seoul from its list of trusted trade partners during a regional forum in Thailand.Foreign Minister Kang Kyung-wha and her Japanese counterpart, Taro Kono, traded barbs at the annual gathering, involving the 10-member Association of Southeast Asian Nations, their countries and China. The meeting was held after Japan's Cabinet approved a decision to drop South Korea from the "whitelist" of 27 coun

Foreign AffairsAug. 2, 2019

Cheong Wa Dae says Japan's additional trade restrictions 'deeply regrettable'

Cheong Wa Dae expressed "deep regret" Friday over Tokyo's decision to impose additional export curbs against South Korea."Going forward, our government will cope with Japan's unfair measure with a resolute attitude," Cheong Wa Dae spokesperson, Ko Min-jung, said in a statement. It came in response to Japan's Cabinet approval for the removal of South Korea from the so-called "whitelist" of trade partners, which Tokyo regards as trustworthy in terms of national securi

Foreign AffairsAug. 2, 2019

Unification ministry expresses strong regret over NK's launches of projectiles

The unification ministry expressed "strong regret" over North Korea's launches of projectiles on Friday, saying that such a move could negatively affect efforts to bring peace to the Korean Peninsula.North Korea fired unidentified short-range projectiles off its east coast earlier in the day, according to Seoul's military. What the North fired appears to be a new type of short-range ballistic missiles, though more analysis will be needed, according to the presidential office. "We

North KoreaAug. 2, 2019

N. Korea's projectiles appear to be new SRBMs: Cheong Wa Dae

North Korea fired what appear to be new-type short-range ballistic missiles (SRBMs) early Friday morning, Cheong Wa Dae said after an emergency meeting at an underground bunker in Seoul.Chung Eui-yong, head of the national security office, presided over the session, attended by Defense Minister Jeong Kyeong-doo and National Intelligence Service Director Suh Hoon, at the crisis management center inside the presidential compound.It came hours after the North shot a couple of projectiles from a nor

North KoreaAug. 2, 2019

Moon to hold emergency Cabinet meeting on Japan's 'whitelist' decision

President Moon Jae-in called an emergency Cabinet meeting shortly after Japan pressed ahead with the removal of South Korea from a list of trusted importers on Friday, Cheong Wa Dae said. Moon plans to hold the session at 2 p.m. to discuss countermeasures.Moon's opening remarks will be broadcast live, according to Cheong Wa Dae. (Yonhap)

PoliticsAug. 2, 2019

Boycott of Japanese goods to intensify as Tokyo expands export curbs

Calls for a boycott of Japan-made goods in South Korea are expected to come to a boil as Tokyo went ahead with its threat to widen controls over exports of materials by removing Seoul from a list of trusted trade partners despite repeated calls to scrap the move. A boycott of Japanese goods has spread across Korea since Tokyo tightened controls on exports of three high-tech materials to Seoul on July 4, in apparent retaliation against Korean court rulings last year over Japan's wartime forced la

EconomyAug. 2, 2019

Japan hides true intentions, leaving export curbs unjustified

Despite what Japan cites as reasons for its curbs on exports to South Korea, the country may have hidden motives that include an attempt to evade responsibility for its past wrongdoings, officials here say.On July 4, Tokyo implemented tougher restrictions on South Korea-bound shipments of three materials -- resist, etching gas and fluorinated polyimide -- that are essential in the production of semiconductors and display panels.The only reason Tokyo has offered so far for its export restrictions

InternationalAug. 2, 2019

BOK vows market stabilization efforts amid escalating trade tensions

The Bank of Korea said Friday that it will remain vigilant against any potential volatility in local financial markets caused by escalating trade tension with Japan. "(The BOK) believes there is a possibility that the volatility in the local financial and foreign exchange markets may rise depending on how Japan's export restrictions are actually implemented," the central bank said in a statement after an emergency meeting to review possible fallout from Japan's expanded export restrict

MarketAug. 2, 2019

Japan takes Korea off list of trusted trade partners, effective Aug. 28

Japan resolved on Friday to remove South Korea from a “whitelist” of 27 countries that receive preferential trade treatment. Japanese Prime Minister Shinzo Abe convened a Cabinet meeting the same day to decide whether to revise the Export Trade Control Order and remove Korea from its list of trusted trading partners.The revised order will be signed by Minister of Economy, Trade and Industry Hiroshige Seko and co-signed by Abe. Seko said the revision would take effect Aug. 28.As of th

IndustryAug. 2, 2019

Cheong Wa Dae holds meeting of ministers on N. Korea's rocket launch

The office of President Moon Jae-in convened an emergency meeting of security-related ministers Friday to discuss the issue of North Korea's latest launch of unidentified projectiles.Chung Eui-yong, head of the national security office, presided over the session, which opened at 7:30 a.m., Cheong Wa Dae said. It's not a National Security Council session, however, Moon's office added.Early Friday morning, the North shot two projectiles, apparently short-range ones, from a northeastern region into

North KoreaAug. 2, 2019

Seoul stocks open lower on trade tensions

Seoul stocks opened sharply lower Friday as Japan is set to remove South Korea from its list of trusted trading partners later in the day and a trade row between the United States and China is escalating.The benchmark Korea Composite Stock Price Index crashed 23.10 points, or 1.15 percent, to reach 1,994.24 in the first 15 minutes of trading.It marked the first time in seven months that the index was below the 2,000-mark during a trading session. Tokyo, which began implementing tougher restricti

MarketAug. 2, 2019

Trump says he has 'no problem' with NK missile tests

US President Donald Trump said Thursday he had "no problem" with North Korea's missile tests, shortly after the regime conducted its third launch in a week."I think it's very much under control," Trump told reporters at the White House. "I have no problem. We'll see what happens, but these are short-range missiles. They are very standard."South Korea's military said North Korea on Friday (Seoul time) launched unidentified short-range projectiles off its east coast.

North KoreaAug. 2, 2019

US concerned Japan will remove S. Korea from 'whitelist': report

The United States on Thursday expressed concern that Japan will follow through on its threat to remove South Korea from a "whitelist" of countries given preferential treatment in export procedures, leading to an escalation of tensions between the two sides, Reuters reported.Japan is expected to drop South Korea from the list on Friday, just weeks after it tightened controls on the export of some high-tech materials to the neighboring nation.Seoul regards the measures as retaliation for

Foreign AffairsAug. 2, 2019

Bolton says US ready to resume talks with N. Korea

US National Security Adviser John Bolton said Thursday that the United States is ready to resume denuclearization talks with North Korea, including another summit at the right time.Bolton made the remarks on Fox Business following a series of missile tests by North Korea in the past week. South Korea described the projectiles as short-range ballistic missiles, but the North said the second test on Wednesday involved a new rocket launch system.The launches came despite Washington's efforts to res

North KoreaAug. 2, 2019

N. Korea fires unidentified short-range projectiles: JCS

North Korea on Friday fired unidentified short-range projectiles off its east coast, South Korea‘s military said, its third launch in a week.The Joint Chiefs of Staff said the projectiles were fired at 2:59 a.m. and 3:23 a.m. from Yonghung, South Hamgyong Province, into the East Sea.“We are monitoring the situation in case of additional launches and maintaining a readiness posture,” the JCS said.Last week, North Korea test-fired two short-range ballistic missiles off its east c

North KoreaAug. 2, 2019

Pompeo voices hope Kim will deploy team for nuclear talks

US Secretary of State Mike Pompeo on Thursday voiced hope that North Korean leader Kim Jong-un will deploy his negotiation team, reiterating that the US is "ready to go."Pompeo made the remarks amid limited progress in the efforts to resume working-level nuclear talks as agreed by US President Donald Trump and Kim during their impromptu meeting at the Demilitarized Zone separating the Koreas on June 30."We stand ready to continue our diplomatic conversation with the North Koreans,

North KoreaAug. 1, 2019

K League demand apology from Juventus for 'disappointing' exhibition match

South Korea's pro football governing body, the K League, on Thursday demanded Juventus FC apologize for breach of contract for benching Cristiano Ronaldo in an exhibition match in Seoul last week.Earlier this week, the K League sent a letter of protest to the Italian football club over its irresponsible conduct during the friendly held at Seoul World Cup Stadium on Friday.The game between Juventus and the K League All-Stars ended in a 3-3 draw, but it caused angry reactions from South Korean fan

SoccerAug. 1, 2019

[Graphic News] South Korea’s coffee market to reach W6.8tr

　The size of the South Korean coffee market will reach 6.8 trillion won ($5.76 billion) by the end of this year, according to a report released by the Hyundai Research Institute.　Koreans, aged over 20, drank a total of 353 cups of coffee per person on average last year, the report said. 　The average per capita coffee consumption in the world was 132 cups in the same year, which is one-third of domestic consumption. (Yonhap)

NationalAug. 1, 2019