Page 8 - South Korea

South Korea's conservative party names Kim Moon Soo as presidential pick

Former Labour Minister Kim Moon Soo won the presidential nomination of South Korea's main conservative party, facing an uphill battle against liberal front-runner Lee Jae-myung for the June 3 election. Observers say Kim will likely try to align with other conservative forces, such as former Prime Minister Han Duck-soo, to prevent a split in conservative votes in a bid to boost prospects for a conservative win against Lee. In a party primary that ended Saturday, Kim won 56.5 per cent of the votes cast, beating his sole competitor, Han Dong-hun, the party said in a televised announcement. Other contenders have been eliminated in earlier rounds. I'll form a strong alliance with anyone to prevent a rule by Lee Jae-myung and his Democratic Party forces. I'll push for that in a procedure and method that our people and members accept, and I'll ultimately win, Kim said in his victory speech. Kim, 73, served as a governor of South Korea's most populous Gyeonggi province and a member of the

South Korea's acting leader Han resigns, likely to run for president

South Korea's acting leader Prime Minister Han Duck-soo said Thursday he is resigning to take on heavier responsibility as expectation mounted he will run in next month's presidential election. Han has emerged as a potential conservative standard bearer as the main conservative People Power Party remains in disarray over the recent ouster of President Yoon Suk Yeol. Observers expect Han to officially launch his presidential campaign on Friday. I have two paths ahead of me. One is completing the heavy responsibility that I handle now. The other is putting down that responsibility and taking a heavier responsibility, Han said in a nationally televised announcement. I've finally determined to put down my post to do what I can and what I have to help overcome the crises facing us. Han, who Yoon had appointed prime minister, the country's No. 2 post, is expected to align with the People Power Party to launch a unified conservative campaign against liberal front-runner Lee Jae-myung, ...

South Korea's acting President Han Duck-soo resigns to run in June 3 polls

Duck-soo's supporters say his long experience in government, especially with the economy, makes him the right person to handle tough issues like US President Donald Trump's tariff policies

4,700 North Korean soldiers killed or wounded fighting for Russia: S Korea

An estimated 4,700 North Korean soldiers have been killed or wounded while fighting alongside Russia against Ukrainian forces, South Korea's spy agency told lawmakers Wednesday. The assessment came two days after North Korea confirmed for the first time that it had sent combat troops to help Russia recapture parts of the Kursk region, which it lost control of to a surprise Ukrainian incursion last year. In a closed-door parliamentary committee briefing, South Korea's National Intelligence Service said North Korea had suffered 4,700 casualties, including 600 deaths, on the Russia-Ukraine battlefronts, according to Lee Seong Kweun, one of the lawmakers who attended the meeting. Lee told reporters the NIS said that 2,000 injured North Korean soldiers were repatriated to North Korea by air or train between January and March. He cited the NIS as saying the dead North Korean soldiers were cremated in Russia before their remains were sent back home. In January, the NIS said about 300 Nort

BTS member J-Hope teases reunion in 2025, says 'it's going to be massive'

On The Zane Lowe Show on Apple Music 1, BTS member J-Hope shared an exciting update about the group's reunion, hinting that the K-pop supergroup will regroup soon

Are Chinese firms using 'Made in Korea' labels to bypass Trump tariffs?

Customs officials in South Korea have found that 97 percent of falsely labelled Chinese goods were destined for the United States

Former South Korean President Moon Jae-in indicted in bribery case

Former South Korean President Moon Jae-in joins many of his predecessors, including recently removed President Yoon Suk Yeol, who have faced prosecution

Why rice-loving Japan is forced to import it from South Korea after 25 yrs

In Japan, rice is more than just a grain; it is central to daily meals, festivals, spiritual offerings, and even language

Oilmeals export dip 21% to Rs 12,171 cr in FY25; volume falls 11%

India's oilmeals export fell 21 per cent to Rs 12,171 crore last fiscal mainly due to decline in sales volumes by 11 per cent, according to data compiled by Solvent Extractors' Association of India (SEA). In a statement on Friday, edible oil industry body SEA said the total export of oilmeals in 2024-25 fiscal fell 11 per cent to 43,42,498 tonnes compared to 48,85,437 tonnes in the preceding year. This was mainly due to reduction in export of rapeseed meal & castorseed meal, it added. In terms of value, the exports decreased 21 per cent to Rs 12,171 crore in 2024-25 from Rs 15,368 crore in the preceding year, said B V Mehta, Executive Director of SEA. Bangladesh in spite of political turbulences become a largest importer of Indian oilmeals. India exported 7.42 lakh tonnes to Bangladesh in 2024-25, down 17 per cent from 892,659 tonnes in the preceding year. South Korea become the second largest importer of Indian oilmeals. India exported 6.99 lakh tonnes of oilmeals last fiscal, ..

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