Korea, Vietnam target $150b in trade volume by 2030

President Yoon Suk Yeol and his Vietnamese counterpart, Vo Van Thuong, agreed to strengthen economic and security ties Friday, with the two nations aiming to achieve a trade volume goal of $150 billion by 2030, during a bilateral summit in Hanoi. On his second day in Vietnam, Yoon met Thuong at the Presidential Palace of Hanoi, following his morning visit to the tomb of former President Ho Chi Minh. In his opening remarks during the summit, Yoon expressed his anticipation of forging a "br

June 23, 2023

Foreign Ministry warns of China spy law

A senior Foreign Ministry official in Seoul warned South Koreans about the potential fallout from China’s latest anti-espionage law, which is set to take effect in July. “Those traveling or staying there should now take more precautions,” the official told a media briefing Thursday, referring to the fact that the law could catch Koreans off guard as new changes written into the law have widened Chinese authorities’ discretion over what constitutes espionage. Previously, t

June 23, 2023

S. Korea, US launch joint body on cybersecurity

South Korea and the United States set up a working group on cybersecurity, a follow-up on what the two allies agreed at the April summit between President Yoon Suk Yeol and his US counterpart Joe Biden, Yoon’s office said in a statement Friday. At a three-day in-person meeting in Washington that ended Thursday, senior Korean and American officials responsible for cybersecurity established a senior steering group to start responding to threats in cyberspace, according to the statement. The

June 23, 2023

'Washington Declaration' a step in right direction for Korea-US alliance: Rep. Bera

The recently signed Washington Declaration on US extended deterrence is a step in the right direction to address the nuclear threat posed by North Korea, a US lawmaker said Thursday. Rep. Ami Bera (D-CA) also insisted that the bilateral agreement between the allies is a step that will help enhance their joint deterrence while respecting the Nuclear Nonproliferation Treaty. "Do I think the Washington Declaration aligns all concerns now, that do I think it is a step in the right direction? Ce

June 23, 2023

S. Korea vows $130m Ukraine aid this year

South Korea said Thursday it will provide an additional $130 million in aid to help Ukraine recover from Russia’s invasion, at a two-day annual conference that started a day ago in London for the second time. At the Ukraine Recovery Conference, which brought together officials from 61 countries and 33 international organizations and at least 400 companies, Bang Moon-kyu, minister of the Office for Government Policy Coordination, said Seoul pledged a $30 million increase in its budgetary su

June 22, 2023

UN aviation organization adopts resolution condemning N. Korea's missile launches

The International Civil Aviation Organization has unanimously adopted a resolution denouncing North Korea's missile provocations, Seoul's foreign ministry said Thursday. The UN agency's governing body also urgently called on Pyongyang to comply strictly with the provisions of the 1944 Chicago Convention, which outlines the key principles for global aviation, at a session in Montreal, Canada, earlier this week. During the meeting, the ICAO voiced its concerns over the North's

June 22, 2023

Presidential official highlights S. Korea's pursuit of role for Indo-Pacific security

South Korea intends to "actively" contribute to building deterrence in the Indo-Pacific, a presidential security official said Thursday, amid steady efforts by Seoul and Washington to broaden their security alliance beyond the Korean Peninsula. Principal Deputy National Security Advisor Kim Tae-hyo made the remark, expressing confidence that following the allies' adoption of the Washington Declaration, South Korea will have a credible US nuclear deterrence against growing North Ko

June 22, 2023

S. Korea, US stress China role in N. Korea disarmament

South Korea and the United States said Wednesday the two allies will continue openly calling on China to back their efforts to denuclearize North Korea, following Washington’s briefing in Seoul about its latest talks with Beijing. US Secretary of State Antony Blinken and Chinese President Xi Jinping agreed Monday to stabilize their relations to prevent further conflict, during Blinken’s two-day trip to Beijing that started a day earlier. Such a meeting last took place five years ago.

June 21, 2023

Yoon proposes UN body to set up digital norms

PARIS -- South Korean President Yoon Suk Yeol on Wednesday proposed to create an organization under the United Nations to establish norms for digital order, highlighting the paradox wherein new digital technologies enhance people's lives with convenience while simultaneously posing threats to human freedom. At the Paris Digital Vision Forum held at Sorbonne University, Yoon proposed the idea dubbed the "Paris Initiative," stressing the significant role of digital technologies --

June 21, 2023

US defense commitment to allies will not be shaken by N. Korean provocation: Pentagon

The United States' commitment to the defense and security of its allies remains strong and will not be shaken by military provocations staged by North Korea, a Pentagon spokesperson said Tuesday. Sabrina Singh, deputy spokesperson for the Department of Defense, also reiterated that North Korea's missile launches, as well as claimed satellite launches, are in clear violation of United Nations Security Council resolutions when asked about Pyongyang's recent failed attempt to launch

June 21, 2023

Biden extends declaration of national emergency with regard to N. Korea

President Joe Biden has notified US Congress of his intention to extend the national emergency declaration period with regard to threats posed by North Korea, the White House said Tuesday. In a letter sent to Congress, the US president also cited proliferation risks posed by Pyongyang. "The existence and risk of the proliferation of weapons‑usable fissile material on the Korean Peninsula; the actions and policies of the Government of North Korea that destabilize the Korean Peninsula and imp

June 21, 2023

From Psy to Sumi Jo: Star-studded BIE presentation takes spotlight

What opened the presentation for Busan's bid to host the World Expo in 2030 Tuesday was the surprise appearance of Karina of K-pop girl band aespa. A rather serious atmosphere involving an interview with children about the crises they face, such as climate change, soon gave way to an intense K-pop beat -- "Next Level" by aespa -- which was followed by Karina's message that every voice in the world matters. "You are the future of our planet, so you can be the judge of all

June 21, 2023

S. Korea ordered to pay Elliott $53.59m in investor-state suit

An international tribunal ordered South Korea on Tuesday to pay around US$53.59 million plus interest to US-based hedge fund Elliott Investment Management, bringing an end to a yearslong dispute surrounding a controversial merger of two units of Samsung Group. The Permanent Court of Arbitration in the Netherlands delivered the verdict in the investor-state dispute settlement suit that the New York-based activist fund filed in 2018 demanding the compensation of $770 million from the Seoul governm

June 20, 2023

S. Korea should start mending China ties soon: experts

As the US and China have agreed to stabilize their escalating rivalry in talks that have partially calmed growing worries over a full-on confrontation between the two superpowers, efforts should be made for South Korea to repair ties with China as soon as possible, preferably by the end of the year, experts said Tuesday. US Secretary of State Antony Blinken and Chinese President Xi Jinping shook hands on a more stable relationship during a rare visit by a top American diplomat, the first in five

June 20, 2023

[Contribution] Farewell message from Vatican envoy

Life in Korea offered me an appropriate opportunity to express to people I met here, sentiments of deep gratitude for the diligent cooperation that was offered to me during my office as representative of the supreme pontiff in Korea and Mongolia over these last five years. Support from the bishops in Korea and their constant proximity has been of great support for me to best carry out the task that the holy father, Pope Francis, entrusted to me. I will leave Korea with sadness because I have to

June 20, 2023

[Photo News] ASEAN-Korea Talks

ASEAN Secretary-General Kao Kim Hourn and ASEAN-Korea Centre Secretary General Kim Hae-yong hold talks to enhance ASEAN-Korea trade, investment, tourism and cultural exchanges in Seoul, on Thursday. Kim introduced the center’s activities to promote sustainable and equal partnerships between ASEAN and Korea while Kao commended the work of the AKC in recent years and encouraged it to carry out more activities in mandated areas.

June 20, 2023

Yoon asks for support for Busan World Expo from overseas Koreans in France

PARIS -- President Yoon Suk Yeol has asked for support from overseas Koreans living in France to support Busan's bid to host the 2030 World Expo, saying that hosting the expo will open a new horizon for global diplomacy for Korea. President Yoon Suk Yeol arrived in Paris on Monday afternoon (local time) to begin his six-day, two-leg tour of France and Vietnam to rally support for South Korea's 2030 World Expo bid and to hold bilateral summits with the two countries' leaders. Upon

June 20, 2023

Imports of Japanese seafood down over 30% in May amid Fukushima concerns

South Korean imports of Japanese seafood sank more than 30 percent last month, data showed Monday, amid concerns over Tokyo's planned release of contaminated water from its crippled nuclear power plant. South Korea imported 2,129 tons of fishery products from the neighboring country in May, down 30.6 percent from a year earlier, according to the data from the Korea Customs Service. In terms of value, imports inched down 1.8 percent on-year to $14.06 million. In April, seafood imports droppe

June 19, 2023

Blinken visits China to ease rising tensions, S. Korea closely watches developments

US Secretary of State Antony Blinken arrived in Beijing on Sunday on a high-stakes two-day mission to cool off growing tensions with China, with neighboring countries such as South Korea closely monitoring developments. On the first day of his tour, Blinken was expected to meet with Chinese Foreign Minister Qin Gang and top diplomat Wang Yi ahead of a possible meeting with President Xi Jinping the following day, according to US officials. The rare trip was a follow-up on what Xi and US President

June 18, 2023

US keeps S. Korea on 'monitoring list' for foreign exchange policy

South Korea has again been placed on a list of countries to be closely monitored by the United States in terms of their foreign exchange policies, along with six other nations, the U.S. Department of Treasury has said. Asia's No. 4 economy has been placed on the list, along with China, Germany, Malaysia, Singapore, Switzerland and Taiwan, according to the Treasury's latest foreign exchange policy report Friday (U.S. time). Compared with the previous release, Japan was removed from th

June 17, 2023