President Yoon Suk-yeol said the nation’s financial situation has deteriorated significantly over the past five years and that the government should tighten its belt to overcome the financial crisis, ordering ministries to conduct a thorough investigation of public sector assets. Yoon presided over the 2022 National Fiscal Strategy Meeting on Thursday at Chungbuk National University in North Chungcheong Province to discuss the direction of the new government’s five-year fiscal ma

Politics July 7, 2022

The presidential office is facing mounting criticism over President Yoon Suk-yeol’s personal acquaintances’ involvement in public affairs, following revelations that a relative of the president is working at the presidential office, days after the first lady drew fire for taking an acquaintance to the NATO summit. According to local news reports, Yoon’s relative, surnamed Choi, is working as a senior administrator equivalent to a post held by a grade three civil servant in

Politics July 7, 2022

The South Korean military will establish a new command in response to missile and nuclear threats from North Korea, the Ministry of National Defense said Wednesday, while President Yoon Suk-yeol called for prompt and firm punishment in respond to North Korean provocations. “It is the military’s mission to protect the lives, property, territory and sovereignty of the people at any cost, and we must firmly show our will to do so,” President Yoon said at a meeting of all milit

Defense July 6, 2022

President Yoon Suk-yeol has declared that South Korea will open the era of the “space economy,” aiming to develop a lunar lander by 2031 and expand its participation in the Artemis program during his visit on Wednesday to the Korea Aerospace Research Institute in Daejeon to congratulate the second successful launch of the Nuri. The OECD defines the space economy as the full range of activities and the use of resources that create value and benefit to human beings in exploring, rese

Social Affairs July 6, 2022

Controversy is again brewing over the first lady, as an acquaintance of hers was found to have been among the president’s retinue at the NATO summit last week. The presidential office denied any wrongdoing. According to local news media reports that broke late Tuesday and into Wednesday, a person not belonging to the presidential office was part of President Yoon Suk-yeol’s delegation in Madrid. The person, surnamed Shin, left for Spain five days earlier than the president and re

Politics July 6, 2022

President Yoon Suk-yeol on Monday appointed the chair of the Joint Chiefs of Staff and minister of education without the parliamentary confirmation process, and nominated a new antitrust watchdog chief. The presidential office announced that Yoon approved Army Gen. Kim Seung-kyum as the chair of the Joint Chiefs of Staff and former professor Park Soon-ae to head the Ministry of Education. He also nominated Song Ok-rial, a professor of law at Seoul National University, as the first chairman

Politics July 4, 2022

President Yoon Suk-yeol says he “pays no attention to” approval ratings, calling them “meaningless,” but some critics say he should take the poll more seriously and devise measures to dispel public worries. Disapproval ratings for Yoon’s handling of state affairs continued to outperform his approval ratings on Monday despite last week’s trip to the NATO summit in Madrid, Spain, during which the administration focused on building security and economic ties

Politics July 4, 2022

Korea’s future growth depends on nuclear power plants, green technology, chips and next-generation electric batteries, President Yoon Suk-yeol said Sunday, basing his statement on discussions he held with several Western leaders on the sidelines of the NATO summit last week. Yoon returned home on Friday after attending the summit held in Madrid, Spain, seeking to strengthen security and economic ties with Western partners. He held 10 bilateral talks on the sidelines of the event, seeking

Foreign Affairs July 3, 2022

President Yoon Suk-yeol said his participation in the trilateral summit with the US and Japan, and the NATO summit did not aim to "exclude China" but added universal norms and values should be respected and protected. Holding a press briefing on the plane en route to Seoul from Madrid on Friday, Yoon delivered his thoughts on his first trip and meetings with NATO allies and partners. “We have been partners with NATO since 2006 and Korea has cooperated with NATO in Afghanist

Latest News July 1, 2022

MADRID – South Korean President Yoon Suk-yeol met with NATO Secretary-General Jens Stoltenberg during a NATO summit in Madrid on Thursday to discuss South Korea-NATO cooperation and exchange views on major international issues, including those pertaining to the Korean Peninsula. President Yoon said that South Korea and NATO have been closely cooperating and responding to various challenges facing the international community since establishing the global partnership in 2006, according t

Foreign Affairs July 1, 2022

President Yoon Suk-yeol had a bilateral meeting with British Prime Minister Boris Johnson on the occasion of attending the NATO Summit on Thursday. The two leaders adopted a “Bilateral Framework for Closer Cooperation” encompassing a vision of bilateral relations and discussed key international issues, including peace on the Korean Peninsula. President Yoon said, “We are pleased to have adopted the Korea-UK framework on the occasion of today‘s talks and evaluated that

Foreign Affairs June 30, 2022

MADRID -- President Yoon Suk-yeol had a meeting with Canadian Prime Minister Justin Trudeau on Thursday, reaffirming their efforts to deal with North Korean provocations and the Ukraine crisis, on the sidelines of the NATO summit. Trudeau said he fully agrees with the future-oriented bilateral relationship with South Korea, and explained that Canada’s newly announced Indo-Pacific strategy puts close relations with regional partners such as Korea as a top priority, according to the presid

Foreign Affairs June 30, 2022

MADRID -- President Yoon Suk-yeol’s first overseas trip had exceeded expectations, the presidential office said Wednesday, crediting the administration’s two-track strategy of attending security-themed NATO meetings and economy-focused bilateral summits. “As the Asia-Pacific value issue is inseparable from that of Europe and security issues in one region are amplified globally, we have reached the awareness that all countries in the global village must work together to s

Foreign Affairs June 30, 2022

MADRID -- The South Korea-Japan bilateral summit some had hoped for did not materialize, but both nations’ leaders appeared sincere at this week’s NATO summit about wanting to improve relations. The invitation of the two countries to the Western military alliance gathering in Madrid, Spain, drew attention to the possibility of a bilateral summit between President Yoon Suk-yeol and Prime Minister Fumio Kishida. As Yoon -- even during his presidential campaign -- has promised to

Foreign Affairs June 30, 2022

MADRID -- President Yoon Suk-yeol agreed with Polish President Andrzej Duda agreed Wednesday to expand cooperation in energy and defense, indicating the likelihood that the European nation may procure Korean weapons soon. The two met on the sidelines of the NATO summit in Madrid. Afterward, Choi Sang-mok, senior secretary for economic affairs, said in a briefing that tangible results are expected soon in the defense sector. “The defense cooperation b

Foreign Affairs June 30, 2022