Page 38 - South Korea

South Korean, Japanese leaders to meet again in a bid to improve ties

The leaders of South Korea and Japan are to meet Sunday for their second summit in less than two months, as they push to bolster cooperation following years of fraught ties over historical issues. Japanese Prime Minister Fumio Kishida is to arrive in South Korea on Sunday for a two-day visit, which reciprocates a mid-March trip to Tokyo by South Korean President Yoon Suk Yeol. The exchange of visits between the leaders of the Asian neighbours, the first of its kind in 12 years, signals that both nations are serious about strengthening ties in the face of shared regional challenges such as North Korea's growing nuclear arsenal and China's increasing assertiveness. "I hope to have an open-hearted exchange of views with President Yoon based on our relationship of trust," Kishida told reporters before his departure at his official residence. "Since March, there have been various levels of communication in areas including finance and defense, and I plan to further develop this ongoing ..

'WTO not listening to developing nations', says FM Nirmala Sitharaman

Sitharaman stressed that there was also a need to involve the private sector to step up investment and innovation

No decision yet on Yoon Suk Yeo-Fumio Kishida summit in Seoul next month

"Nothing has been officially decided yet," a senior presidential official told reporters in Boston, where Yoon is on the second leg of his state visit to the US

North Korea insults US Prez Biden, slams defence agreement with Seoul

The powerful sister of North Korea's leader says her country would stage more provocative displays of its military might in response to a new US-South Korean agreement to intensify nuclear deterrence to counter the North's nuclear threat, which she insists shows their extreme hostility toward Pyongyang. Kim Yo Jong also lobbed personal insults toward US President Joe Biden, who after a summit with South Korean President Yoon Suk Yeol on Wednesday stated that any North Korean nuclear attack on the US or its allies would result in the end of whatever regime took such action. Biden's meeting with Yoon in Washington came amid heightened tensions in the Korean Peninsula as the pace of both the North Korean weapons demonstrations and the combined US-South Korean military exercises have increased in a cycle of tit-for-tat. Since the start of 2022, North Korea has test-fired around 100 missiles, including multiple demonstrations of intercontinental ballistic missiles designed to reach the U

South Korea's President Yoon talks of nuclear threat at Harvard visit

South Korean President Yoon Suk Yeol delivered a speech and took questions at the Harvard Kennedy School in Cambridge on Friday where he spoke about the challenges facing his country including the threat of nuclear weapons from neighbouring North Korea. Yoon pointed to a new plan he unveiled with President Joe Biden on Wednesday for intensified nuclear deterrence to counter any North Korean threat. If we were to accept nuclear weapons by North Korea then South Korea may have to possess nuclear weapons," Yoon said during a question-and-answer period after his speech at the Kennedy School. "This is not something we want to see happen. Yoon went on to say that if North Korea were to use nuclear weapons the result is quite obvious." As long as North Korea recognizes nuclear weapons as a means of survival we have to make sure to deter the usage of such weapons so that the Republic of Korea, our neighbouring countries, and the entire global community can be protected, he said through a .

Japan to restore preferential trade status for South Korea: Official

Japan's trade ministry on Friday said it has begun procedures to restore preferential trade status for South Korea, days after Seoul took a similar step for Tokyo and requested reciprocity, and more than three years after the countries downgraded each other during a bitter historical dispute. Japan's Ministry of Economy, Trade and Industry said talks with South Korea this month showed that its controls over trade in sensitive materials with both civilian and military uses are now as effective as those used by Japan. It said it has proposed as a result that South Korea be restored to the list of countries which receive preferential Japanese trading status, subject to a month-long public comment period ending May 31. The list currently contains 26 nations including the United States, Britain, Canada, France and Germany. The step would end a trade dispute that began in July 2019 when Japan removed South Korea from its white list of countries given fast-track approvals in trade, in ...

Indo-Korea bilateral trade grows 17% to record $27.8 bn in 2022: Kotra

The bilateral trade between India and Korea grew by 17.3 per cent to USD 27.8 billion in 2022, according to Korea Trade-Investment Promotion Agency (KOTRA). In 2021, the value of bilateral trade between the two countries stood at USD 23.7 billion. Korea's exports to India increased by 21 per cent to USD 18.9 billion, while imports increased by 10.5 per cent to USD 8.9 billion. Addressing India-Korea Future Industry Partnership Event 2023, Ambassador of the Republic of Korea to India Chang Jae-bok on Wednesday said, "India and Korea must focus on the critical issue of green energy and learn from each other's strengths. Green energy, hydrogen energy, and EVs are the future, and Korea's leadership in producing EVs since 2005 is an excellent example for India". The two-day event is organised as part of a 50-year celebration of the India-Korea diplomatic relationship. Through collaboration and cooperation, both countries can further emphasise the importance of adopting green energy and

S Korean prez opens Washington visit with spotlight on space, mega deals

South Korean President Yoon Suk Yeol opened his state visit to Washington on Tuesday by touring a NASA facility with Vice President Kamala Harris as the Biden administration looks to deepen ties with a close ally that it sees as only growing in importance in an increasingly complicated Indo-Pacific. Before Harris and Yoon's visit to the Goddard Space Flight Center in suburban Greenbelt, Md., the two countries signed a joint statement on cooperation in space communications and navigation, and received briefings from NASA scientists on cooperative efforts on space exploration and addressing the climate crisis, Our alliance is leading on some of the most important and pressing issues of our time, Harris said in remarks with Yoon by her side at the NASA facility. Yoon, for his part, recalled his exhilaration as a third-grader watching on television as Neil Armstrong and Buzz Aldrin stepped off Apollo 11 to become the first humans to set foot on the moon in 1969. Now, NASA and the Korea

Hyundai Motor's reports 109% increase in Q1, beating expectations

Hyundai Motor Co reported a 109% increase in first-quarter profit thanks to a rise in vehicle output as a global chip shortage eased

South Korea formally restores Japan on trade 'white list' after 3 years

South Korea formally restored Japan to its list of countries it gives preferential treatment in trade on Monday, three years after the neighbours downgraded each other's trade status amid a diplomatic row fuelled by historical grievances. In announcing the move through a government gazette, South Korea's Ministry of Trade, Industry and Energy also said Seoul will further restrict technology and industrial exports to Russia and its ally Belarus to support the U.S.-led pressure campaign against Moscow over the war in Ukraine. After years of friction, Seoul and Tokyo are working to repair relations as they tighten their three-way security cooperation with Washington to counter the threat posed by North Korea. Pyongyang has used the distractions caused by the war to accelerate testing of nuclear-capable missiles. South Korean officials expect Tokyo to restore Seoul as a favoured trade partner too, but expect that step to take more time based on the procedures to revise Japan's export ..

South Korean carmakers' global market share falls to 7.3% in 2022

Local automakers accounted for 7.3 per cent of vehicle sales in the world's eight major markets last year, down from 7.7 per cent in 2021

K-pop star Moonbin, an Astro band star passes away at 25, no cause of death

Moonbin's family had asked fans to respect their plans for a quiet funeral service. Fans were in shock, and they bombarded social media with messages

KKR sees India, South Korea as sweet spots amid realty crisis: Report

Real estate investment vehicles overseen by KKR and its rivals like Blackstone Inc. have come under pressure, with many investors requesting their money back

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S Korea, Japan hold first security talks since 2018 to thaw bilateral ties

During the session, the two sides are expected to share their assessment of the security situation in Northeast Asia and on the Korean Peninsula, and their respective defence and security policies

South Korea, US, Japan hold missile defence drills against N Korean threats

The exercise focused on practicing procedures to detect and track a computer-simulated ballistic missile target, and share related information

Boom Up Korea 2023: Come, invest in India urges Vedanta's Akarsh Hebbar

Come, Invest in India Urges Vedanta's Akarsh Hebbar at Boom Up Korea 2023

S Korea's top court orders Google to disclose shared personal data

The highest court said even if personal information was provided to foreign intelligence agencies for probable cause, the service provider must notify the users of such acts when that cause terminates

S Korea to conduct radiation test on 89 North Korean defectors from May

Among the 89 defectors to undergo the testing, nine defectors will be the ones who received the result of having suspected radiation exposure during the govt's similar radiation testing held in 2017

Google slapped with $32 mn fine for unfair practices in Korean app market

The punishment came as Google made shady agreements with South Korean mobile game companies between June 2016 and April 2018, banning them from releasing their content on One Store