Page 25 - South Korea

North Korea fires multiple short-range ballistic missiles, Seoul condemns

North Korea has launched ballistic and cruise missiles as well as tactical rockets in recent months, describing them as part of a program to upgrade its defensive capabilities

Shipping is a dirty business, but cleaning it up is lucrative; here's why

Investor's love for this exciting new company category may wane when the EV market picks up again, or the smartphone sector finally returns to growth. But, for now, ship maintenance is exciting

South Korea plans $7.3 billion program to support semiconductor industry

The move comes as the US government is pressing allies including South Korea to further tighten restrictions on China's access to semiconductor technology

Kim Jong Un supervises latest test of new multiple rocket launcher

North Korean leader Kim Jong Un supervised another test firing of a new multiple rocket launch system the country plans to deploy to its forces starting this year, state media said on Saturday, part of its move to bolster its lineup of weapons targeting South Korean population centres. North Korea's official Korean Central News Agency said Friday's test confirmed the advantage and destructive power of the 240-millimetre multiple rocket launcher and its guided shells. The agency said the system, which the North already tested twice this year, will be deployed to combat units from 2024 to 2026 to replace older weapons. North Korea in recent months has maintained an accelerated pace in weapons testing as it expands its military capabilities while diplomacy with the United States and South Korea remains stalled. Experts say Kim's goal is to eventually pressure the United States into accepting the idea of the North as a nuclear power and negotiating economic and security concessions fr

Efforts to improve people's lives have fallen short: S Korea's President

As part of a major policy push, Yoon also said a new government ministry would be created to address the country's record low birth rate and fast-ageing society

N Korea's propaganda mastermind who shaped the image of leaders dies at 94

Kim Ki Nam helped forge the cult of personality for the family dynasty that has ruled N Korea since its founding in the Cold War

S Korea's parliament approves independent probe of 2022 Halloween crush

South Korea's parliament on Thursday approved legislation mandating a new, independent investigation into the 2022 Halloween crush in Seoul that killed 159 people. The single-chamber National Assembly passed the bill by a 256-0 vote. It will become law after it is signed by President Yoon Suk Yeol and promulgated by his government agency steps that are considered formalities because the president and his ruling party already agreed on the legislation. The bill is meant to delve into the root cause of the crush, details about how authorities handled the disaster and who should be blamed for it. It also envisages the creation of a fact-finding committee with nine members that would independently examine the disaster for up to 15 months. Once the committee determines who is responsible and who should face charges, it would report them to the government's investigation agencies. The agencies would then conclude investigations of the suspects within three months, according to the ...

CSuisse may face $36 mn fine over S Korea short-selling, says local daily

The notice was sent to the South Korean and Singaporean units of the bank

South Korea confirms talks on joining AUKUS pact with US, UK and Australia

AUKUS, formed by the three countries in 2021, is part of efforts to push back against China's growing power in the Asia Pacific region.

South Korea's President talks to opposition about bipartisan cooperation

South Korean President Yoon Suk Yeol was talking with liberal opposition leader Lee Jae-myung on Monday about how to revive bipartisan cooperation, after Yoon's conservative party recently suffered a massive defeat in parliamentary elections. The meeting was their first since Yoon took office in 2022 after defeating Lee in the country's closest presidential election. During their campaigns, Yoon, Lee and their supporters demonized each other and filed dozens of lawsuits against each other. Yoon proposed the meeting as he faces growing calls to cooperate with Lee's Democratic Party, whose win in the April 10 parliamentary elections allows it to extend its control of the single-chamber National Assembly until after Yoon's single five-year term ends in 2027. Yoon and Lee were meeting without a set agenda. Officials at Yoon's presidential office and Lee's party earlier said the meeting would focus on how to improve public livelihoods and promote cooperation on state affairs. They also

Capital cover drive: India's $100 billion knock evens score with China

Its capitalisation leapfrog surpasses South Korea and Taiwan, establishing dominance in EM pitch

India, South Korea discuss developments in areas of nuclear disarmament

Top officials of India and South Korea on Friday discussed developments in the areas of disarmament and non-proliferation relating to nuclear, chemical and biological domains. India-Republic of Korea Consultations on Disarmament and Non-Proliferation were held in Seoul, the Ministry of External Affairs (MEA) said in a statement. "The two sides discussed developments in the field of disarmament and non-proliferation relating to nuclear, chemical and biological domains, as well as regional non-proliferation issues, outer space security-related matters, conventional weapons, including AI in the military domain and multilateral export control regimes," it said. The Indian delegation was led by Muanpuii Saiawi, Joint Secretary (Disarmament and International Security Affairs), MEA, while the Korean delegation was led by Youn Jong Kwon, Director General for Non-Proliferation and Nuclear Affairs, Ministry of Foreign Affairs, it added. Top officials of India and Japan had on Wednesday ...

Blackstone nears deal to sell S Korean pharma wholesaler to MBK Partners

The sale would mark Blackstone's first major exit in South Korea, a market in which it established a locally-based team two years ago

Amid tensions with China, US, Japan, S Korea hold drills in disputed sea

A US carrier strike group led by the USS Theodore Roosevelt has held a three-day joint exercise with its allies Japan and South Korea as US President Joe Biden met for talks with leaders from Japan and the Philippines at the White House. The duelling military and diplomatic maneuvers are meant to strengthen the partners' solidarity in the face of China's aggressive military actions in the region. A number of US and South Korean guided missile destroyers and a Japanese warship joined the April 10-12 drill in the disputed East China Sea, where worries about China territorial claims are rising. The Associated Press was one of several news organizations allowed a front-row look at the drills. Rear Adm. Christopher Alexander, commander of Carrier Strike Group Nine, said the three nations conducted undersea warfare exercises, maritime interdiction operations, search and rescue drills and work focused on communication and data sharing. He told journalists Thursday on the Roosevelt that th

South Korea's PM, top officials offer to resign after election defeat

South Korea's prime minister and senior presidential officials offered to resign en masse on Thursday, after their conservative ruling party suffered a crushing defeat in parliamentary elections. The results of Wednesday's elections were a huge political blow to President Yoon Suk Yeol, likely setting back his domestic agenda and leave him facing an intensifying political offensive by his liberal opponents during his remaining three years in office. Prime Minster Han Duck-soo and all senior presidential advisers to Yoon, except those in charge of security issues, submitted their resignations, according to Yoon's office. It didn't immediately say whether Yoon accepted their resignations. Executive power in South Korea is heavily concentrated in the president, but the prime minister is the No. 2 official and leads the country if the president becomes incapacitated. Yoon said he will humbly uphold the public sentiments reflected in the election outcome and focus on improving people's

Big Oppn win in S Korean parl election poses setback to President Yoon

South Korea's liberal opposition parties appeared set to win a landslide victory in Wednesday's parliamentary election, vote counts showed, a result that could make conservative President Yoon Suk Yeol a lame duck for his remaining three years in office. With most of the votes cast counted, the main opposition Democratic Party and its satellite party appear to have won a combined 175 seats in the 300-member National Assembly. Another small liberal opposition party was expected to win 12 seats under a proportional representation system, according to South Korean media tallies. Yoon's ruling People Power Party and its satellite party were projected to have obtained 109 seats. The final official results were expected later Thursday. But the outcome means the liberal opposition forces would extend their control of the parliament, though they will likely fail to garner the super majority of 200 seats that gives them legislative powers to pass bills vetoed by a president and even impeach

S Korea elections: Voters to decide President Yoon Suk Yeol's fate

The record-high turnout for early voting has garnered the attention to whether the final turnout would exceed 70%

South Korea to invest $7 billion in AI by 2027 to retain edge in chips

South Korea plans to significantly expand research and development in AI chips such as artificial neural processing units (NPUs) and next-generation high-bandwidth memory chips

S Korea launches 2nd military spy satellite as tensions with N Korea rise

South Korea has launched its second military spy satellite into space, days after North Korea reaffirmed its plan to launch multiple reconnaissance satellites this year. The Koreas each launched their first spy satellites last year North Korea in November and South Korea in December amid heightened animosities. They said their satellites would boost their abilities to monitor each other and enhance their own missile attack capabilities. South Korea's second spy satellite was launched from the Kennedy Space Center in Florida on Sunday evening local time, which was Monday morning in Seoul. South Korea's Defense Ministry said in a statement that the satellite was successfully separated from a rocket. It said it will check whether the satellite functions properly via its communications with an overseas ground station. Under a contract with SpaceX, South Korea was to launch five spy satellites by 2025. South Korea's first spy satellite launch on Dec. 1 was made from California's ...

North Korea fires intermediate range missile into S Korea's eastern waters

North Korea on Tuesday test-fired a suspected intermediate-range ballistic missile toward waters off its eastern coast, South Korea's military said, adding to a series of weapons demonstrations that have raised tensions in the region. South Korea's Joint Chiefs of Staff said the missile was launched from an area near the North Korean capital, Pyongyang, but it did not immediately confirm how far the weapon flew. The North had said last month that it tested a solid-fuel engine for its new-type intermediate-range hypersonic missile as it tries to expand its arsenal of weapons aimed at remote US targets in the Pacific, including the military hub of Guam. It was the North's first known launch event since March 18, when North Korean leader Kim Jong Un supervised a live-fire drill of artillery systems designed to target South Korea's capital. Japan's coast guard shared an assessment of the country's Defense Ministry that the missile has already landed but still urged caution for vessels .