Tag - S.Korea News

S. Korea, US, Japan defense officials discuss response to NK missile threat

Senior defense officials from South Korea, the United States and Japan on Wednesday condemned North Korea’s recent ballistic missile launches and agreed to coordinate on how to deal with its provocations, the defense ministry said. Wee Seung-ho, deputy minister for policy, held a video conference with David F. Helvey, US assistant secretary of defense for Asian and Pacific security affairs, and Satoshi Maeda, director general for defense policy. They strongly condemned the North’s ballistic missile test on Monday as a violation [...]

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‘Public diplomacy essential for stronger Korea-US ties'

Over the course of his US presidential campaign, Donald Trump spared no criticism against the country’s free trade pact with South Korea. Calling it a “disaster” and a “job killer,” the populist politician threatened to pull out of the treaty once he took office. But the US president was not the first to express such a negative view about the deal. Ever since negotiations kicked off in 2007, Trump-like rhetoric had resonated with South Koreans, particularly among liberal politicians and [...]

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Finance chief says US rate hike hopes mirrored in market

South Korea’s financial market has already factored in expectations for US interest rate hikes this year, the finance minister said Friday, indicating it is well-positioned to withstand their impact. After boosting its benchmark interest rate by a quarter point to 0.75 percent in December, the US Fed forecast it could raise the federal funds target rate three times in 2017, instead of the two quarter-point increases previously projected. “A rate hike in March would raise the possibility of three rises this [...]

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Trump pledges to speed up NAFTA renegotiation

US President Donald Trump said Thursday he will speed up renegotiation of the North America Free Trade Agreement, slamming the deal as a “catastrophe” for the US. “I have very serious concerns about NAFTA. NAFTA has been a catastrophe for our country. It’s been a catastrophe for our workers and our jobs and our companies. They’re leaving our country. I want to change it,” Trump said at the start of a meeting with some members of Congress. Trump said the letter [...]

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Mattis vows to deploy THAAD ‘without a hitch’

US Defense Secretary James Mattis on Thursday reaffirmed plans to deploy its advanced missile defense system in South Korea this year “without a hitch,” singling out North Korea’s nuclear and missile program as a top priority for the new Donald Trump administration. Mattis arrived here as part of his first overseas trip designed to cement the bilateral alliance despite some jitters over Washington’s security commitment to its top Asian ally. With Pyongyang’s evolving threats topping the agenda, he is set [...]

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Korea to expand FTA network to offset US protectionism

South Korea’s policymakers are scrambling to cope with rapid changes in global trade conditions as new US President Donald Trump has put into practice his protectionist pledges. Measures drawn up at their meeting last week focused on expanding the country’s network of free trade agreements with the rest of the world, increasing imports from the US and winning more contracts to build massive infrastructure facilities abroad. An escalation in the trade conflict between the US and China, Korea’s two biggest trading [...]

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Trump’s TPP abandonment fans trade fears in Korea

On his first full weekday in office Monday, US President Donald Trump signed an executive action to abandon a multilateral trade deal involving 12 countries, underlining his tough trade policy and raising concerns over a possible renegotiation of the South Korea-US Free Trade Agreement. The Trans-Pacific Partnership, a free trade pact between 12 Asia-Pacific countries and a legacy of former President Barack Obama, was signed in February 2016 after five years of negotiations. It was considered a strategic move against [...]

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SKT tests China’s Huawei LTE equipment amid controversy

South Korea’s No. 1 mobile carrier SK Telecom has purchased Long Term Evolution network equipment produced by China’s Huawei Technologies for testing before signing a final deal, amid concerns over hacking risks and Korean suppliers losing competitiveness, according to sources Sunday. An industry source familiar with the matter told The Korea Herald that SKT ordered the Digital Unit and Remote Radio Head, known as DU&RRH in industrial terminology, from Huawei last month to conduct a set of quality tests before [...]

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Young Koreans given various incentives to have more babies

Kang Mi-ok received 2 million won ($1,700) from a rural county in central South Korea in August. The money was meant to promote the birth of a fourth baby. She is set to receive another 8 million won in installments by 2020 from Cheongyang County, South Chungcheong Province, to help her raise the baby. “It’s completely a bonanza,” Kang said as she was caring for four children with her husband at a cafe in Cheongyang, 160 kilometers south of Seoul. The [...]

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KOICA to expand collaboration with private sector to boost ODA financing

outh Korea’s official development assistance operator KOICA said Tuesday that it will strengthen partnership with the private sector to boost financing for its development aid programs for emerging countries. “The international community is putting emphasis on partnership with the private sector as a means of procuring financial sources for the development (of needy countries),” said Kim In-sik, president of the Korea International Cooperation Agency, better known as KOICA. Despite decades of past international development assistance programs, the majority of emerging economies [...]

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