Page 8 - South Korea

N Korea threatens response to US flying long-range bombers over S Korea

North Korea on Thursday threatened unspecified retaliation after the US flew long-range bombers over South Korea during training with its forces, which North Korea views as practice for an attack against it. The U.S. flew the B-1B bombers Tuesday during an aerial drill with other US and South Korean fighter jets. South Korea's Defense Ministry had said the training was meant to show the two countries' combined deterrence capability against North Korea's advancing nuclear program. The U.S. and South Korea routinely hold joint military exercises they describe as defensive in nature. But North Korea views them as an invasion rehearsal and is particularly sensitive to the U.S. mobilization of strategic assets such as long-range bombers, aircraft carriers and nuclear-powered submarines. The recent military move of the U.S. and the ROK is an open threat to the security of our state and a grave provocation that raises the military tension in the region to an extreme dangerous level, an ...

Here is why South Korea's ex-President Yoon could face death penalty

South Korean President Yoon Suk Yeol was removed by the Constitutional Court following his declaration of martial law. He appeared at his criminal trial on Monday facing rebellion charges

South Korea sees Trump starting tariff talks with Seoul, Japan and India

Acting President Han Duck-soo said he expected there to be a video meeting between the US and South Korean officials on the proposed Alaska LNG project soon, Yonhap News Agency reported

Ousted South Korea President Yoon embraces supporters as he leaves office

Former South Korean President Yoon Suk Yeol left the presidential residence in Seoul on Friday for his private home, a week after the Constitutional Court removed him from office over his ill-fated imposition of martial law in December. In recent days, moving trucks were seen driving in and out of the walled presidential compound in the Hannam-dong district, the site of a massive law enforcement operation in January that led to Yoon's detainment. Yoon, who is facing a criminal trial on rebellion charges, was released from custody in March after a Seoul court canceled his arrest. Yoon and his wife, Kim Keon Hee, along with their 11 dogs and cats, are returning to their private apartment in affluent southern Seoul. As his black van arrived at the gate of the presidential compound, Yoon stepped out, smiling and waving to his supporters, shaking hands and embracing dozens of them, before getting back into the vehicle and leaving the site. Ahead of his arrival, dozens of both supporters

Want to move to South Korea? New visa opens doors to those earning Rs 1 cr

South Korea has launched a "top-tier" visa system from April 2, 2025

S Korean opposition leader opens presidential bid following Yoon's ouster

South Korean opposition leader Lee Jae-myung, widely seen as the frontrunner in a presidential by-election triggered by the removal of President Yoon Suk Yeol last week, officially announced a presidential bid on Thursday, vowing to heal a starkly divided nation through economic growth. Lee, who narrowly lost the 2022 election to Yoon, led the liberal Democratic Party's campaign to oust the former president over his December declaration of martial law. Lee recently stepped down as the party's chairman to focus on campaigning for the June 3 election. He is considered the clear frontrunner in party's primary. Kim Dong-yeon, the Democratic governor of Gyeonggi province and a longtime financial policymaker, also told reporters Wednesday that he intends to run for president. Yoon's downfall has left the conservative People Power Party in disarray, with roughly 10 politicians expected to seek the nomination, reflecting a split between Yoon loyalists, who still control the party's ...

NSE launches 11 new passive funds tracking Nifty indices in Japan, Korea

A total of eleven new passive funds such as Exchange Traded Funds and Index Funds, which track Nifty Indices, were launched in Japan and Korea during FY 2024-25, the National Stock Exchange of India (NSE) said on Tuesday. Of these, 9 funds track the Nifty 50 index, while one tracks the Nifty India Corporate Group Index, Tata Group 25 per cent, and another tracks the Nifty Midcap 50 Index. At present, there are 33 passive funds tracking Nifty Indices outside India with total assets under management (AUM) of USD 4.3 billion. These products have been launched by large global asset managers. "There is a growing demand from global asset managers for India-focused passive investment products. FY 2024-25 has been a landmark year for NSE Indices with the successful launch of eleven passive products based on Nifty indices outside of India," Aniruddha Chatterjee, MD of NSE Indices, said. "We anticipate this trend to continue with numerous India-focused passive products set to be introduced .

Samsung profits surge as buyers stockpile chips ahead of Trump tariffs

Samsung Electronics March quarter earnings beat estimates as demand spikes for semiconductors and smartphones amid fears of steep US import duties under Trump's trade policy

South Korea to hold snap elections on June 3 after ousting president

Leader of the Democratic Party Lee Jae-myung is the front-runner in the elections. Lee lost to Yoon with a margin of less than 1% votes in 2022

South Korea to hold election on June 3 to replace ousted President Yoon

South Korea will hold a snap presidential election June 3 to replace recently ousted President Yoon Suk Yeol, the country's acting leader Han Duck-soo announced Tuesday. The announcement came days after the Constitutional Court removed President Yoon Suk Yeol from office over his ill-fated imposition of martial law in December. Deep political polarisation will likely shape the June 3 election, expected to be a two-way showdown between the two major political parties: Yoon's conservative People Power Party and its chief liberal rival, the Democratic Party. The focus of attention is on whether conservatives can regroup and field a strong candidate to compete against the likely Democratic candidate, Lee Jae-myung. It will be an uphill battle for the governing People's Power Party to hold on to power it struggles to restore public confidence and heal a severe internal division triggered by Yoon's martial law stunt.

South Korea to prepare support plans ahead of US tariff enforcement

South Korea's financial regulator also asked firms and state institutions to be prepared to provide liquidity support for exporting companies and their contractors hit by tariffs

A look at turbulent life of S Korean leader Yoon ousted over martial law

Yoon Suk Yeol's political rise was fast: the former star prosecutor clinched South Korea's presidency only a year after he entered politics. But his downfall was even faster: The Constitutional Court removed him from office on Friday, about four months after he made a deeply baffling decision to declare martial law and send troops to Seoul's streets. Yoon's style highly assertive and strong-willed, but often uncompromising and inflexible worked for a prosecutor standing up to higher-ups, but not for a president forced to work with an opposition-dominated legislature on an array of contentious issues. Yoon, 64, a conservative, said his martial law decree was a desperate attempt to call on public support for his fight against anti-state liberal rivals who used their parliamentary majority to obstruct his agenda and impeach top officials. But many observers say the stunt was political suicide, as the liberal opposition-controlled parliament quickly struck down Yoon's decree before ..

South Korean court ousts President Yoon Suk Yeol after martial law debacle

South Korean President Yoon Suk Yeol was removed by the Constitutional Court following his declaration of martial law, triggering fresh elections within 60 days

S Korea's court to rule Friday on dismissal of impeached President Yoon

South Korea's Constitutional Court said it will rule on whether to formally dismiss or reinstate impeached President Yoon Suk Yeol this Friday. It has been deliberating on Yoon's political fate over his ill-fated imposition of martial law that triggered a massive political crisis. Whatever decision is, it will likely deepen domestic divisions. Millions of people have rallied in Seoul and elsewhere to support or denounce Yoon in the past few months. Police said they'll mobilize all available personnel to preserve order and respond to acts of vandalism, arson and assault. The Constitutional Court said in a statement Tuesday that it would issue the ruling Friday. The opposition-controlled liberal National Assembly in December voted to impeach Yoon, a conservative, leaving his political fate in the hands of the Constitutional Court. Yoon is facing a separate criminal trial after he was arrested and indicted by prosecutors in January on rebellion charges in connection with his Dec. 3 ...

US, Europe bet big on K-beauty products, skincare with acquisition deals

Seoul, long a destination for beauty services, last year became the top exporter of cosmetics to America, overtaking France, according to the US International Trade Commission

S Korea, China, Japan agree to promote regional trade as Trump tariffs loom

The countries' three trade ministers agreed to 'closely cooperate for a comprehensive and high-level' talks on a South Korea-Japan-China FTA

Putin to visit India, Waqf Bill, Trump's auto tariffs, South Korea wildfire & more

Russia today confirmed that President Putin will visit India soon, following an invitation from PM Modi during his visit to Moscow last year.

S Korea in uphill battle to contain massive wildfires as death toll hits 26

Multiple wildfires raging across South Korea's southern regions for days have killed 26 people and destroyed more than 300 structures, officials said, as thousands of personnel and dozens of helicopters were mobilized again Thursday to battle the the county's worst-ever blazes. Korea Forest Service chief Lim Sang-seop said a small amount - less than 5 millimeters (0.2 inches) - of rain was expected in the area on Thursday, not enough to play a meaningful role in extinguishing the wildfires. The fatalities include a pilot whose helicopter crashed during efforts to contain a fire and four firefighters and other workers who died after being trapped by fast-moving flames driven by strong winds. Authorities haven't disclosed details of the civilian dead, except that they are mostly in their 60s and 70s. They suspect human error caused several of the wildfires that began last Friday, including cases where people started fires while clearing overgrown grass from family tombs or with sparks

Wildfires ravage southern S Korea, killing 18, forcing 27,000 to evacuate

At least 16 people died and another 19 were injured as wildfires ravaged South Korea's southern regions amid dry weather and strong winds, government officials said on Wednesday. Officials in Andong city and other southeastern cities and towns ordered residents to evacuate on Tuesday as firefighters struggled to contain multiple blazes fuelled by dry winds, which burned more than 43,000 acres of land and destroyed hundreds of structures, including a 1,300-year-old Buddhist temple. More than 5,500 people were forced to evacuate from their homes in Andong, the neighbouring counties of Uiseong and Sancheong, and the city of Ulsan, where the fires were the largest, according to South Korea's Ministry of Interior and Safety. South Korean officials earlier on Tuesday said that firefighters had extinguished most of the flames from the largest wildfires in those areas, but the ongoing dry and windy weather caused setbacks and allowed the blazes to spread again. Nearly 9,000 firefighters, .

Samsung Electronics co-CEO Han Jong-hee dies at 63 after cardiac arrest

Han was in charge of Samsung's consumer electronics and mobile devices division, while co-CEO Jun Young-hyun oversees the chip business of South Korea's biggest company