Assembly speaker to visit Sri Lanka for talks on cooperation

National Assembly Speaker Park Byeong-seug will visit Sri Lanka this week for talks on expanding cooperation in mineral resources, his office said Wednesday. Park will depart Wednesday and meet with his Sri Lankan counterpart Mahinda Abeywardena, as well as the country's President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa during the four-day trip. The two sides are expected to discuss potential agreements on securing Sri Lanka's rare minerals, preventing double taxation, aviation

Jan. 19, 2022

Lee vows legalization of virtual asset industry

Ruling party presidential candidate Lee Jae-myung said Wednesday he will institutionally recognize the virtual asset industry and guarantee various business opportunities. Lee of the Democratic Party made the remarks in a meeting with heads of the nation's four major cryptocurrency exchanges and industry experts in Seoul, apparently targeting voters in their 20s and 30s who have a relatively strong interest in virtual asset investments. Lee said he will prepare objective listing standards and

Jan. 19, 2022

Yoon pledges to ease tax burden on cryptocurrency investment profits

Main opposition presidential candidate Yoon Suk-yeol pledged Wednesday to ease the tax burden on profits from cryptocurrency investments by raising the threshold from the current 2.5 million won ($2,097) to 50 million won. Yoon of the conservative People Power Party announced the pledge at the party's headquarters, saying he will raise the bottom limit to the same level as stocks and give tax exemptions for returns of up to 50 million won. The candidate also said he will introduce a digital as

Jan. 19, 2022

Moon arrives in Saudi Arabia for talks with crown prince

South Korean President Moon Jae-in held talks with Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman on Tuesday and agreed to work together in areas related to the hydrogen economy. After holding the talks at the Al-Yamamah palace in Riyadh, the two nations signed preliminary deals to jointly develop green hydrogen, which is produced from renewable energy sources, especially solar and wind, and jointly build a hydrogen ecosystem, Moon's office said in a statement. Under the deals,

Jan. 18, 2022

DP candidate Lee argues for shift to 4-yr presidential term, renewable once

Ruling party presidential candidate Lee Jae-myung on Tuesday argued for a shift to a four-year presidential term, renewable once, from the current single five-year term, saying he is willing to opt for a shorter term if elected. "For responsible politics, (South Korea) needs a double, four-year term under which power is decentralized," Lee of the Democratic Party said during an interview with cable channel MBN. "Five years is not a span (sufficient for a president) to plan, ena

Jan. 18, 2022

Lee pledges to create over 3m jobs through digital, energy transformation

Ruling party presidential candidate Lee Jae-myung unveiled his job growth vision Tuesday, pledging to create over 3 million jobs by raising an investment fund of 135 trillion won ($113.5 billion). "I will produce over 3 million jobs by achieving great transformations in the digital, energy and social service sectors," Lee said during a campaign event outlining his job growth vision at the Democratic Party (DP) headquarters in Seoul. In order to achieve the proposed digital transforma

Jan. 18, 2022

Govt. to finalize extra budget plan this week

The government will convene an extra Cabinet meeting this week to finalize a supplementary budget plan aimed at helping small businesses hit by the pandemic, the prime minister's secretariat said Tuesday. Prime Minister Kim Boo-kyum will preside over the meeting Friday, a week after he announced the government's plan to draw up an extra budget to assist small businesses and self-employed people. The government is reported to be considering a request for 14 trillion won ($11.8 billion) to be su

Jan. 18, 2022

Shaman in the house? Yoon Suk-yeol says no

The main opposition People Power Party disbanded a networking subcommittee under the election campaign committee for its presidential nominee Yoon Suk-yeol after claims arose that a shaman was involved in an advisory role for the subcommittee and took part in the campaign. Rep. Kwon Young-se, head of Yoon’s election campaign committee, told reporters Tuesday that the campaign team would disband the subcommittee immediately to firmly respond to any malicious accusations that may be made ag

Jan. 18, 2022

Lee, Yoon to have first one-on-one TV debate next week

The presidential candidates of the ruling and main opposition parties will have their first one-on-one TV debate next week, the ruling Democratic Party (DP) said Tuesday. DP candidate Lee Jae-myung will face off against People Power Party candidate Yoon Suk-yeol at 10 p.m. on Jan. 27 for a 120-minute debate jointly hosted by the three terrestrial TV stations KBS, MBC and SBS. The DP said the broadcasters have requested a four-way debate between Lee, Yoon, Ahn Cheol-soo of the minor opposition

Jan. 18, 2022

Moon holds phone talks with Abu Dhabi crown prince, voices condolences over attack victims

DUBAI --  President Moon Jae-in has held telephone talks with Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan and expressed condolences to victims of a suspected drone attack claimed by Yemen's Houthi rebels, Moon's office said. The 25-minute telephone talks Monday evening came after the scheduled summit between Moon, who is on a weeklong trip to the Middle East, and the UAE's de facto ruler was canceled due to an "unforeseen and urgent matter of state" by the UAE side, accor

Jan. 18, 2022

[Newsmaker] Yoon apologizes for wife’s remarks revealed in phone call with reporter

Presidential candidate Yoon Suk-yeol of the main opposition People Power Party apologized Monday for the remarks made by his wife Kim Kun-hee, after a portion of the recordings of her phone calls with a reporter was made public by a local broadcaster. A day before, MBC had broadcast parts of the 52 recorded phone calls made between Lee Myung-soo, a reporter for YouTube channel Voice of Seoul, and Kim. In the revelation, Kim was shown to have made some remarks deemed inappropriate, such as hi

Jan. 17, 2022

Sim resumes campaign, vows not to give up

Presidential candidate Sim Sang-jung of the minor progressive Justice Party returned to the race Monday, five days after she suspended all campaign activities, declaring she will not give up. Sim had announced the suspension of all her campaign activities Wednesday, followed by the resignation of all members of her election campaign committee the next day. 　 “I am part of the politics that shaped the world of inequality and discrimination. I am infinitely responsible,” Sim said at

Jan. 17, 2022

Yoon vows to secure preemptive strike capability after NK launch

Main opposition presidential candidate Yoon Suk-yeol on Monday vowed to secure a preemptive strike capability after North Korea conducted its fourth missile test this year. Yoon of the conservative People Power Party previously mentioned the need to carry out a preemptive strike in the event North Korea appears ready to fire a nuclear-tipped missile at the South. In a Facebook post Monday, hours after North Korea launched two suspected short-range ballistic missiles into the East Sea, Yoon dou

Jan. 17, 2022

Lee, Yoon offer diverging views on dealing with N. Korea

Ruling party presidential candidate Lee Jae-myung has called for simultaneously pursuing North Korea's denuclearization and sanctions relief, while his main opposition rival Yoon Suk-yeol has vowed to strengthen the extended deterrence provided by the United States. Lee of the liberal ruling Democratic Party and Yoon of the conservative People Power Party detailed their plans for dealing with North Korea's nuclear weapons program in written interviews with the Korean-American Club, a group of f

Jan. 17, 2022

Yoon leads poll again after seemingly successful campaign reform

The tide of the presidential race in South Korea has shifted again, poll results showed Monday, this time again in favor of presidential nominee Yoon Suk-yeol of the main opposition People Power Party. Successful campaign efforts from Yoon’s side following the end of a damaging internal feud, as well as the abrupt death of a whistleblower in a case involving main rival Lee Jae-myung of the ruling Democratic Party of Korea, are believed to have aided Yoon in garnering more support in the l

Jan. 17, 2022

Jailed ex-President Lee Myung-bak admitted to hospital for chronic illness

Jailed former President Lee Myung-bak was admitted to a hospital on Monday for an unspecified chronic illness, the justice ministry said. The 81-year-old was transferred to the Seoul National University Hospital in central Seoul from the Anyang Correctional Institution where he is serving a 17-year sentence for embezzlement and bribery convictions, according to the ministry. Lee will undergo medical examinations for his chronic illness, and when he will be discharged from the hospital will not

Jan. 17, 2022

Moon names new senior secretary for civil affairs

President Moon Jae-in on Monday named a new senior secretary for civil affairs after the previous secretary resigned over ethical issues related to his son. Kim Young-sik, a former secretary for legal affairs under the Moon administration, was appointed to succeed Kim Jin-kook, who stepped down last month after his son was found to have leveraged the father's position on job applications. "(Kim) has a high level of understanding of the Moon Jae-in government's administrative philosophy an

Jan. 17, 2022

Yoon leads Lee 40.6% to 36.7%: poll

Main opposition presidential candidate Yoon Suk-yeol is leading his ruling party rival Lee Jae-myung with 40.6 percent public support against Lee's 36.7 percent, a survey showed Monday. Yoon of the People Power Party (PPP) gained 6.5 percentage points from the previous week, while Lee of the Democratic Party lost 3.4 points, according to the Realmeter survey conducted on 3,031 adults from Jan. 9 to 14. Yoon led Lee by 3.9 percentage points, which was outside the margin of error of plus or minu

Jan. 17, 2022

Talks between Moon, Abu Dhabi crown prince canceled due to 'unforeseen matter of state'

The scheduled talks between South Korean President Moon Jae-in and Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan were canceled due to an "unforeseen matter of state" of the de facto ruler of the United Arab Emirates (UAE), a senior Seoul official has said. Moon, who is in Dubai for a three-day visit as part of his weeklong trip to the Middle East, had been scheduled to hold talks with the Abu Dhabi crown prince Monday, but the talks were called off as the UAE side "politely

Jan. 17, 2022

Opposition party's presidential candidate vows tough response to unauthorized labor rallies

Main opposition presidential candidate Yoon Suk-yeol said Sunday he will deal sternly with illegal labor rallies if elected in March. In a Facebook post, Yoon of the conservative People Power Party slammed the Korean Confederation of Trade Unions, a major umbrella labor group, over its massive street rally in downtown Seoul on Saturday. "The KCTU, which reigns above the law, is a symbol of unfairness," he wrote, saying more than 15,000 people gathered in defiance of bans under the an

Jan. 16, 2022