The Korea Herald

Korea, Singapore to share financial info on local residents

South Korea said Friday it has signed an agreement with Singapore to share some financial information on their nationals residing in each other's territory.It's meant to help tackle offshore tax evasion and other illegal activities, the Ministry of Strategy and Finance said.Under the deal, the two sides will automatically exchange some details on their bank accounts each year starting in 2018.The information to be shared include individuals' names, addresses, tax numbers, account numbers and acc

Oct. 14, 2016

Korea, Cuba sign 1st gov't-level MOU: ministry

South Korea and Cuba have inked a high-level bilateral accord on an economy-related program, laying the groundwork for the launch of full-scale partnerships, Seoul's finance ministry said Friday.The two sides signed the memorandum of understanding on sharing the Northeast Asian nation's experience in economic development in a ceremony held in Havana on Thursday (local time), according to the Ministry of Strategy and Finance.It represents the first government-level MOU between the two countries,

Oct. 14, 2016

China again asks S. Korea to handle illegal fishing issue reasonably

China's foreign ministry on Wednesday asked South Korea to stay calm in dealing with Chinese boats illegally fishing in the neighboring country's waters a day after Seoul said it will be more firm with lawbreakers.South Korea's decision to strengthen law enforcement, even authorizing the use of firearms, is not a fundamental solution to the problem and will only cause more trouble, said Chinese ministry spokesman Geng Shuang during a regular press briefing.The remark was made a day after South K

Oct. 12, 2016

China again asks S. Korea to handle illegal fishing issue reasonably

PM meets Thai counterpart, vows to expand ties

Prime Minister Hwang Kyo-ahn met his Thai counterpart on Tuesday, exchanging ideas about expanding economic and educational ties as well as the latest updates on inter-Korean issues.During his meeting with Thai Prime Minister Prayut Chan-o-cha, Hwang discussed expanding economic exchanges, especially in the infrastructure and defense industries, to bolster ties between Seoul and Bangkok."South Korean firms are experiencing difficulties due to import regulations on steel products and the Thai gov

Oct. 11, 2016

PM meets Thai counterpart, vows to expand ties

Korea calls in China's ambassador to protest recent sinking of Coast Guard boat

South Korea called in China's ambassador on Tuesday to lodge a formal complaint over the recent sinking of a Coast Guard boat by a Chinese vessel illegally fishing in its waters, the foreign ministry said.Deputy foreign minister Kim Hyong-zhin summoned Ambassador Qiu Guohong to his office to protest the incident that took place late last week and demanded efforts to prevent a recurrence, according to the ministry.The Coast Guard said that a 4.5-ton speed boat that was engaged in an operation to

Oct. 11, 2016

Foreign Minister Yun holds talks with Clinton camp's diplomacy advisor Sherman

Foreign Minister Yun Byung-se on Monday discussed Seoul-Washington relations and North Korea's nuclear weapon issue with Wendy Sherman, a former U.S.under secretary of state for political affairs who advises presidential candidate Hillary Clinton on diplomatic affairs, the foreign ministry said.During the 30-minute talks held at the Ministry of Foreign affairs in Seoul earlier in the day, Yun stressed the importance of close cooperation between the allies in reining in North Korea's nuclear weap

Oct. 10, 2016

Foreign Minister Yun holds talks with Clinton camp's diplomacy advisor Sherman

Park calls on Japanese business delegation to diversify

South Korean President Park Geun-hye on Monday called on a Japanese business delegation to deepen and diversify bilateral economic ties, noting industrial cooperation has created a "synergic effect" for both sides. During her talks with the 18-member delegation of the Japanese Business Federation, also known as Keidanren, Park said that the two nations need to expand the scope of their business cooperation into new areas, such as games, cultural content, medicine and health care. She also po

Oct. 10, 2016

PM urges N. Korea to give up nukes, missiles

Prime Minister Hwang Kyo-ahn said Monday North Korea must end its development of nukes and missiles that pose threats to international peace, adding South Korea will join forces with other countries to induce Pyongyang to end such provocations. He made the call in Thailand at the gathering of the Asia Cooperation Dialogue (ACD), a 34-member body created in June 2002 to promote Asian exchanges. Hwang also said Pyongyang must instead put more effort into improving the livelihood of North Ko

Oct. 10, 2016

UNSC to draw up resolution 'as quickly as possible' but no rush to sacrifice substance: US envoy

The United Nations Security Council is working to draw up a fresh resolution "as quickly as possible" to penalize North Korea for its latest nuclear detonation test, but it will not sacrifice substance to rush a decision, Washington's envoy to the U.N. said Monday. Amb. Samantha Power made the remark in a meeting with a group of reporters after having talks with South Korean Foreign Minister Yun Byung-se on the North Korea issue. She came to Seoul on Saturday for a four-day stay after trav

Oct. 10, 2016

Bulgarian rock ‘n’ roll band makes a splash in Korea

The maxim of Bulgarian band Tube Hedzzz is to stay as close as possible to the rock ’n’ roll of the 1960s and 70s, a golden era epitomized by legends such as Jimmy Hendrix, Led Zeppelin, Grand Funk and Cream. Tube Hedzzz has for the last few years revitalized the spirit of this rebellious music, adapting it to the finicky, nonconforming tastes of the contemporary audience. The band has performed with renowned artists including Lili Ivanova, Blackstreet and Mystikal, and is making a splash everyw

Oct. 9, 2016

Bulgarian rock ‘n’ roll band makes a splash in Korea

Hungary appoints honorary consul in Busan

The Hungarian Embassy extended its diplomatic outreach to Busan and the surrounding areas with the appointment of an honorary consul on Wednesday.In a ceremony at Dongseo University’s new Centum Campus, Hungarian Ambassador Gabor Csaba bestowed the exequatur issued by the Foreign Ministries of Hungary and Korea to Chang Je-kuk, 53, who has been the university’s president since 2011.Chang -- a Japan expert -- taught international relations at the university following his education in the US and J

Oct. 9, 2016

Hungary appoints honorary consul in Busan

Germany celebrates reunification, integration and cooperation with Korea

Marking the 26th anniversary of national reunification, the German embassy celebrated Friday the country’s progress in integration following the fall of the Berlin Wall in November 1989, as well as international engagement, particularly with Korea. At a reception at the German ambassador’s residence in Seoul, the newly appointed envoy Stephan Auer, who started his post on Sept. 5, welcomed the visit of Michael Grosse-Broemer, Chief Whip of the Christian Democratic Union-Christian Social Union pa

Oct. 9, 2016

Germany celebrates reunification, integration and cooperation with Korea

Japan could go nuclear in 10 years: US study

Japan could arm itself with nuclear weapons in 10 years to cope with threats from China and North Korea, a study commissioned by the US Defense Department showed, according to a news report.The report produced for the Pentagon's Office of Net Assessment (ONA) assesses that Japan can quickly build a strategic arsenal of land-based and submarine-launched missiles capable of killing up to 30 million Chinese in a nuclear war, according to the Washington Free Beacon."The report reveals Japan's govern

Oct. 8, 2016

NK provocations must be stopped, but door should be left open to Pyongyang: UN official

North Korea's nuclear and missile provocations must be stopped, but the international community should also leave the door open to the communist nation in case it reverses course, a top U.N. official said Friday.Kim Won-soo, U.N. undersecretary general and high representative for disarmament affairs, made the remark during a conference in Washington aimed at promoting South Korean President Park Geun-hye's regional peace vision known as the Northeast Asia Peace and Security Initiative. (Yonhap)"

Oct. 8, 2016

NK provocations must be stopped, but door should be left open to Pyongyang: UN official

Korea names new ambassador to UN

A senior South Korean foreign ministry official has been named the head of the country's mission to the United Nations, the ministry said Friday.Cho Tae-yul, South Korea's second vice foreign minister, will replace Oh Joon as the chief of the South Korean mission to the international organization, the ministry said in a press release.Cho, 61, started his diplomatic career in 1989 and served in diverse posts mostly dealing with global trade and multilateral affairs. He has served as vice foreign

Oct. 7, 2016

S. Korea makes thinly veiled calls for major powers to cut diplomatic ties with N. Korea

South Korea's top diplomat called Thursday for active diplomatic measures against North Korea over its nuclear test and missile launches in the latest push to punish Pyongyang for flouting UN resolutions.The UN Security Council has been working on a fresh resolution to punish North Korea for its fifth nuclear test in September."It's time to consider taking more aggressive measures in diplomatic relations with North Korea," South Korean Foreign Minister Yun Byung-se said in an interview with Yonh

Oct. 7, 2016

Korea pledges $120 mln to help Afghanistan

South Korea has pledged to provide $120 million to Afghanistan to help the war-torn country build up its economy and society, the foreign ministry said Thursday.South Korean Foreign Minister Yun Byung-se announced the plan that will be carried out from 2017-2020 at a conference on Afghanistan held in Brussels, according to the ministry.Under the four-year support plan, around $30 million will be provided to Afghanistan every year, which represents 0.78 percent of the annual contribution pledged

Oct. 6, 2016

Korea pledges $120 mln to help Afghanistan

Leaders of Korea, Costa Rica to hold summit in Seoul next week

The leaders of South Korea and Costa Rica will hold a summit in Seoul next week to discuss ways to strengthen their long-standing cooperative ties, the presidential office Cheong Wa Dae said Thursday.South Korean President Park Geun-hye and her Costa Rican counterpart Luis Guillermo Solis will sit down for talks on Wednesday over their "practical" cooperation in trade, science and technology, infrastructure development and other areas, Cheong Wa Dae said in a press release.Solis will begin his o

Oct. 6, 2016

Leaders of Korea, Costa Rica to hold summit in Seoul next week

Envoys participate in Korean medicine fair

Foreign envoys and journalists pose at the Jecheon Korean Medicine Bio Fair in the city of Jecheon, North Chungcheong Province on Wednesday. (NDN News)Over 40 foreign diplomats in Korea and journalists from the Seoul Foreign Correspondents’ Club participated in the Jecheon Korean Medicine Bio Fair in the city of Jecheon, North Chungcheong Province, Wednesday. Jointly organized by the Jecheon municipal government and the Korean Cultural Ambassadors’ Friendship Association, the familiarization tou

Oct. 5, 2016

Envoys participate in Korean medicine fair

GGGI seeks to shape up role with tailored growth plans

Despite its still nascent foray into low-carbon development, the Global Green Growth Institute is seeking to introduce comprehensive planning frameworks for each member country this year, its new chief said Tuesday. Frank Rijsberman, who took the helm of the Seoul-based multinational organization this week, said that it was ready to capitalize on what is called the GGGI value chain. The chain begins with macroeconomic analyses then progresses to green growth planning, project development and eve

Oct. 4, 2016

GGGI seeks to shape up role with tailored growth plans