Trade war to intensify, make world poorer: Paul Krugman

JEJU ISLAND -- An intensifying global trade war would increase tariffs by up to 40 percent and reduce trade by two-thirds around the globe, resulting in the whole world becoming poorer, a Nobel Laureate economist said Wednesday at a forum on peace and security. Paul Krugman, a distinguished professor of the City University of New York, said South Korea’s export-driven economy is vulnerable to a US-led trade war, but its strong economic ties with other Asian countries in the region could mitigate

June 27, 2018

Senate panel approves Harris as US ambassador to Korea

WASHINGTON -- A United States Senate committee on Tuesday approved President Donald Trump's pick for ambassador to South Korea, paving the way for his confirmation.Retired Adm. Harry Harris was tapped by Trump last month to fill a post that has remained vacant since the administration took office early last year.The former chief of the US Pacific Command won unanimous approval from the Senate Foreign Relations Committee ahead of a full Senate vote expected for early July. In a file photo taken o

June 27, 2018

‘Economic interdependence key to resolving nuclear standoff’: ex-Unification Minister

JEJU ISLAND -- Deepening economic interdependence with North Korea is key to resolving the decades-old nuclear crisis and preventing war, a former unification minister said Tuesday at an international forum on peace and security. “The best way to avert a war is to create an economic cooperative body with North Korea,” Lee Jong-suk, the former unification minister who advises President Moon Jae-in on inter-Korean relations, said at the 13th Jeju Forum. “We should more strategically consider (expa

June 26, 2018

Foreign Minister Kang to visit Thailand next week

South Korea's Foreign Minister Kang Kyung-wha will visit Thailand next week as part of efforts to strengthen bilateral ties and promote Seoul's diplomatic drive to deepen engagement with Southeast Asia, her office said Tuesday.During her visit Monday, Kang will meet top Thai officials, including Prime Minister Prayuth Chan-o-cha and Foreign Minister Don Pramudwinai, her ministry's spokesman Noh Kyu-duk said."Minister Kang will request continued support for our government's New Southern Policy an

June 26, 2018

US ups pressure on NK in carrot-and-stick approach

The extension of economic sanctions against North Korea being coupled with the suspension of further South Korea-US joint military drills hints at US President Donald Trump’s message to the regime, experts say. 　On Friday, Trump renewed sanctions on North Korea for a year in an executive order, saying the country poses an “extraordinary threat,” just 10 days after saying there was no nuclear risk from Pyongyang. US President Donald Trump (Yonhap)The state of national emergency over the threat po

June 24, 2018

Moon returns from Russia visit

South Korean President Moon Jae-in returned home Sunday after a three-day state visit to Russia for talks with President Vladimir Putin over North Korea's denuclearization and economic cooperation.Moon and his wife Kim Jong-sook departed from Rostov-on-Don earlier in the day after they rooted for the South Korean national soccer team, which lost to Mexico 2-1 in the teams' Group F match at the FIFA World Cup in Russia. They arrived at Seoul Air Base in the afternoon.During the first state visit

June 24, 2018

Moon, Putin vow efforts to launch FTA talks, boost cooperation

South Korean President Moon Jae-in and Russian President Vladimir Putin agreed Friday to work to launch negotiations for a free trade agreement between their countries.In a summit held in Moscow, the leaders agreed to initiate “local processes” to allow the start of FTA talks, Moon’s presidential office Cheong Wa Dae said in a press release.“To achieve the goal of $30 billion in trade and 1 million in the number of visitors between the two countries by 2020, the two leaders agreed to work for pr

June 22, 2018

S. Korea, Russia to begin preparations for FTA negotiations: Moon

President Moon Jae-in on Friday announced a plan to launch negotiations for South Korea’s first free trade agreement with Russia, calling for joint efforts to boost the two countries’ bilateral trade to over $30 billion by 2020. During a business forum in Moscow, Moon said he would agree with Russian President Vladimir Putin to begin domestic processes aimed at launching FTA negotiations related to the service and investment sector. The South Korean president said that he expects the FTA to enco

June 22, 2018

Moon to discuss economic cooperation, denuclearization with Putin

President Moon Jae-in on Thursday set out on a state visit to Russia, where he is expected to discuss economic cooperation and denuclearization with President Vladimir Putin. Moon will kick off his trip by addressing the State Duma for the first time for a South Korean president, and meet with Russian Prime Minister Dmitry Medvedev. President Moon Jae-in and First Lady Kim Jung-sook wave before departing for Russia on Thursday. YonhapIn a summit with Putin, scheduled for Friday, Moon is expected

June 21, 2018

Moon heads to Russia for bilateral summit with Putin

South Korean President Moon Jae-in headed to Russia on Thursday for a summit with Russian counterpart Vladimir Putin that will focus on ways to boost the countries' economic cooperation, as well as on joint efforts to rid North Korea of its nuclear weapons.The South Korean leader is making a three-day state visit that will also include a meeting with Russian Prime Minister Dmitry Medvedev, according to his office Cheong Wa Dae. Moon is the first South Korean president to make a state visit to Ru

June 21, 2018

China seeks to cement leverage over NK amid tensions with US

The third summit between China and North Korea in less than three months on Tuesday highlighted Beijing's increasing efforts to remain a key player in the fluid geopolitics of the Korean Peninsula and strengthen its hand amid friction with the United States, analysts said.During the talks with North Korean leader Kim Jong-un, Chinese President Xi Jinping said their bilateral ties would remain steady regardless of situational changes, in an apparent sign of Beijing's will to keep its influence ov

June 20, 2018

Moon says he and Putin share common goals of denuclearization, economic development

South Korea and Russia share the common goal of denuclearizing the Korean Peninsula, which will lead to the joint development of not only the countries but the entire region, South Korean President Moon Jae-in said Wednesday.Moon's remarks came in an interview with Russian news outlets ahead of his three-day state visit to Russia that will begin Thursday."President (Vladimir) Putin and I share the vision of peace and joint prosperity in the Eurasian continent," Moon said, according to a full scr

June 20, 2018

Seoul welcomes outcome of Kim-Xi meeting

South Korea's presidential office on Wednesday welcomed the outcome of a meeting between leaders of North Korea and China, expressing hope that China will continue to play a positive role in "safe" and "complete" denuclearization of the North."The latest North Korea-China summit is believed to have moved the denuclearization process a step further," Cheong Wa Dae spokesman Kim Eui-kyeom told a daily press briefing."In addition, we expect China to play a positive role in safely completing the den

June 20, 2018

US lawmakers voice support for Korea alliance

WASHINGTON -- A group of US lawmakers on Tuesday voiced support for the South Korea-US alliance in the wake of recent efforts to denuclearize North Korea through dialogue, Seoul's foreign ministry said.Members of the Congressional Study Group of Korea, including its co-chair, Rep. Ami Bera (D-CA), met with South Korean First Vice Foreign Minister Lim Sung-nam to discuss recent developments on the Korean Peninsula.Lim is the first high-ranking Seoul official to visit Washington since US President

June 20, 2018

Moon to hold 3rd summit with Putin

President Moon Jae-in and Russian President Vladimir Putin will hold a summit in Moscow on Thursday, Seoul’s presidential office announced Monday. President Moon Jae-in speaks during Monday`s meeting with senior aides in Seoul. YonhapAccording to Cheong Wa Dae, Moon will visit Russia for a four-day state visit from Thursday, and meet with Putin shortly after his arrival. This is the first time a South Korean leader is making a state visit to Russia since late President Kim Dae-jung in 1999. Moon

June 18, 2018

Seoul to be ‘flexible’ on timing, format of declaring end to Korean War

South Korea aims to declare an end to the Korean War this year, but will be flexible when it comes to the specific timing and format, Seoul’s top diplomat said Monday. 　  Foreign Minister Kang Kyung-wha speaks at a news conference in Seoul on Monday. (Yonhap)“Declaration of the end to the Korean War is a result we should draw through consultation with the US and North Korea. But the government plans to handle the issue of timing and format flexibly,” Foreign Minister Kang Kyung-wha said at a pre

June 18, 2018

Japan urges N. Korea to jointly break mutual distrust

Japanese Prime Minister Shinzo Abe on Saturday called on North Korean leader Kim Jong Un to jointly overcome their mutual distrust, as he confirmed ongoing efforts to arrange a Japan-North Korea summit.In a television interview, Abe said his government has contacted the North Korean side "through various channels" in a bid to arrange a meeting with Kim.During historic talks with US President Donald Trump in Singapore on Tuesday, Kim reportedly said he was open to a meeting with Abe.Japan wants t

June 16, 2018

Seoul welcomes Trump's plan to have phone conversation with Kim Jong-un

South Korea's presidential office Cheong Wa Dae expressed optimism on Saturday about US President Donald Trump's recent announcement that he would speak with North Korean leader Kim Jong-un on the phone, calling it "very important progress."(Yonhap)On Friday, Trump said he gave Kim a direct phone number to reach him and that he plans to personally call Kim on Sunday (US time)."Most important of all, this means the US and North Korean leaders are in a relationship where they can talk on the phone

June 16, 2018

Trump promotes NK summit in weekly address

US President Donald Trump released a weekly address Friday promoting his efforts to bring peace to the world through his meeting with North Korean leader Kim Jong-un earlier in the week.(Yonhap)In a 3-minute video posted on YouTube, Trump walked through the results of his historic meeting with Kim that took place in Singapore Tuesday."Our world has seen more than enough conflict. If there's a chance at peace, if there's a chance to end the horrible threat of nuclear conflict, then we must pursue

June 16, 2018

Trump says he gave NK leader direct phone number to call

US President Donald Trump said Friday he gave North Korean leader Kim Jong-un a direct phone number to reach him and that he plans to make a phone call to Kim. "I can now call him ... I gave him a very direct number," he told reporters at the White House. "He can now call me if he has any difficulty. I can call him. We have communication."US President Donald Trump (Yonhap)His remarks come days after his first and historic encounter in Singapore with the leader of the reclusive state on Tuesday.T

June 16, 2018