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Kang Seung-woo

Korea Times Business Reporter

Kang Seung-woo is the Business Desk editor at The Korea Times. Prior to this position, he covered politics, national affairs, finance and sports.

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Foreign Affairs

Seoul accelerates efforts to resolve IRA concerns

By Kang Seung-wooThe Korean government is poised to step up its efforts to persuade the United States to ease growing concerns over the effects of the new Inflation Reduction Act (IRA), which poses a threat to Korean automakers. The efforts are being spearheaded by two vice foreign ministers, who plan to meet with senior U.S. officials to discuss the issue. President Yoon Suk-yeol is also anticipated to bring it up during his envisaged meeting with U.S. President Joe Biden in New York, where he will attend the United Nations General Assembly as well.First Vice Foreign Minister Cho Hyun-dong and Second Vice Foreign Minister Lee Do-hoon / Korea Times fileLast month, Biden signed the IRA, which, as indicated by its name, is aimed at lowering costs for U.S. consumers, investing in domestic clean energy production and supporting affordable healthcare.The IRA provides a government tax credit of up to $7,500 (10 million won) to each buyer of an electric or fuel cell vehicle assembled in North America. A portion of the tax credit ― $3,750 ― will be made available when EV makers use batteries

Sep 13, 2022By Kang Seung-woo
Seoul accelerates efforts to resolve IRA concerns
Foreign Affairs

Korean travelers to Vietnam fall victim to COVID test fraud

A Vietjet plane is seen in this picture. Korea Times fileBy Kang Seung-wooThe Korean Embassy in Vietnam has stepped up efforts to prevent a coronavirus testing-related scam, with such fraud cases on the rise targeting Korean tourists in the Southeast Asian country when they return to Korea.According to the embassy and the Korean foreign ministry, Wednesday, two embassy staffers visited the office of Vietjet Air in Hanoi two days earlier and took issue with the budget airline's rejection of Korean travelers' negative COVID-19 test results, which left them exposed to rapid antigen test fraud. Vietjet Air is a Vietnamese low-cost carrier (LCC), based in the capital city of Hanoi.They also urged the company to request the People's Public Security of Vietnam investigate the fraud complaints. In response, the LCC said the state security agency was already aware of the issue, adding it will once again ask for its efforts, according to the embassy.The embassy has also complained to the Civil Aviation Authority of Vietnam. The embassy's complaints came as more Korean travelers in Vietnam have

Sep 7, 2022By Kang Seung-woo
Korean travelers to Vietnam fall victim to COVID test fraud
Defense

Korea-Japan talks raise hopes for normalization of intelligence-sharing pact

Vice Defense Minister Shin Beom-chul speaks during a briefing at the Ministry of National Defense in Seoul, July 21. YonhapExperts expect bilateral defense talks to end in partial successBy Kang Seung-wooSouth Korea and Japan are expected to agree to smoother operation of their intelligence-sharing pact in Wednesday's vice defense minister talks in Seoul amid the new South Korean government's efforts to better relations with its neighbor, according to experts, Tuesday.However, a 2018 radar lock-on dispute, a bigger roadblock to bilateral military cooperation, will remain a tough nut to crack, they added.Seoul's Vice Defense Minister Shin Beom-chul and Tokyo's Vice Defense Minister for International Affairs Masami Oka are scheduled to hold an in-person meeting on the sidelines of the annual Seoul Defense Dialogue that kicked off on Tuesday.The meeting will be the first in six years, raising speculation over whether or not the regional neighbors will be able to resolve pending bilateral military issues. The talks also come as the Yoon Suk-yeol administration is eager to improve bilater

Sep 6, 2022By Kang Seung-woo
Korea-Japan talks raise hopes for normalization of intelligence-sharing pact
Defense

Statue to be built for US Korean War vet

A graveside ceremony for John Singlaub is held at Arlington National Cemetery in Virginia, Aug. 19 (local time). NewsisBy Kang Seung-wooA memorial of John Singlaub, a former U.S. Forces Korea (USFK) chief of staff known for his objection to Washington's plan to withdraw American troops from the Korean Peninsula in the 1970s, is expected to be built next year as part of marking the 70th anniversary of the South Korea-U.S. alliance, according to a military veteran group. The South Korea-U.S. Alliance Foundation plans to carry forward the statue plan after holding consultations with the Ministry of Patriots and Veterans Affairs and his family.John Singlaub / Korea Times fileThe veterans ministry has yet to receive a detailed scheme or formulate a plan but given that next year will mark seven decades of the bilateral alliance, it will be considered positively, according to its official. The South Korea-U.S. alliance was forged through the Korean War and founded on the 1953 South Korea-U.S. Mutual Defense Treaty.Singlaub, a native of California who was commissioned as a U.S. Army second l

Sep 5, 2022By Kang Seung-woo
Statue to be built for US Korean War vet
Foreign Affairs

Foreign ministry, KOICA hold international conference on ODA

Participants of the 15th Seoul ODA International Conference pose at the Shilla Seoul, Thursday. Courtesy of KOICABy Kang Seung-wooThe Ministry of Foreign Affairs and Korea International Cooperation Agency (KOICA) held the 15th Seoul ODA International Conference, Thursday, aimed at exploring Korea's role as a global pivotal state and the direction for official development assistance (ODA).The Seoul ODA International Conference is an annual platform that brings together various actors in international development cooperation including in the government, private sector and academia to discuss the latest issues in development. The 15th edition, under the theme “Expanding Horizons for Global Development Partnership,” was held in a hybrid format and its participants included KOICA President Sohn Hyuk-sang and Second Vice Foreign Minister Lee Do-hoon. “Global threats such as the climate crisis, conflicts and COVID-19 are rendering development problems increasingly complex. In order to respond effectively, it is important to not only expand development financing, but also

Sep 1, 2022By Kang Seung-woo
Foreign ministry, KOICA hold international conference on ODA
Foreign Affairs

Top Chinese legislator's visit sparks speculation about Yoon-Xi summit

Li Zhanshu, center, is the No. 3 official in the Chinese government. Chinese President Xi Jinping, left, and Prime Minister Li Keqiang, right, are also seen in this photo. Korea Times file Yoon in dilemma over meeting China's No. 3 official after snubbing Pelosi By Kang Seung-wooAn envisaged trip by China's top legislator to Seoul is reigniting the issue of Chinese President Xi Jinping's visit here. According to political and diplomatic circles, Li Zhanshu, the chairman of the Standing Committee of the National People's Congress (NPC), is now arranging his three-day visit to Korea, set to begin Sept. 15, at the invitation of National Assembly Speaker Kim Jin-pyo. In February, Li invited Rep. Park Byeong-seug, Kim's predecessor, to the opening ceremony of the Beijing Winter Olympics. Along with meeting his Korean counterpart, Li is highly anticipated to pay a visit to President Yoon Suk-yeol, raising speculation that the two sides might discuss Xi's possible visit to Seoul.“It is likely that Li may discuss Xi's possible visit to Korea if he meets with President Yoon,” sai

Sep 1, 2022By Kang Seung-woo
Top Chinese legislator's visit sparks speculation about Yoon-Xi summit
Defense

USFK deploys advanced Gray Eagle drones

Apache attack helicopters and Gray Eagle drones are seen at U.S. Army Garrison Humphreys in Pyeongtaek, Gyeonggi Province, during the Ulchi Freedom Shield exercise, Aug. 23. Yonhap By Kang Seung-wooThe U.S. Forces Korea (USFK) has deployed an advanced version of one of its armed drones in Korea amid North Korea's growing nuclear and missile threats. According to the USFK, Wednesday, the U.S. Second Infantry Division, also known as the South Korea-U.S. combined division, has deployed 12 Gray Eagle Extended Range (GE-ER) unmanned aircraft systems at U.S. Army Garrison Humphreys in Pyeongtaek, Gyeonggi Province. The GE-ER is a next-generation upgrade to the battle-proven Gray Eagle drone.The original Gray Eagle, measuring eight meters in length and 18 meters in wingspan, is a medium-altitude, long-endurance combat drone that can stay aloft up to 30 hours from launch and can fly at a top speed of 280 kilometers per hour. The drone is capable of providing intelligence, surveillance and reconnaissance (ISR) capabilities, and can carry four Hellfire air-to-ground anti-armor missiles, enabli

Aug 31, 2022By Kang Seung-woo
USFK deploys advanced Gray Eagle drones
Defense

Nation's aircraft carrier program up in air

A computer-generated image of an envisioned light aircraft carrier released by the Republic of Korea Navy, Nov. 8. Courtesy of ROK Navy No budget earmarked for Moon's landmark project By Kang Seung-wooThe South Korean Navy's ambitious plan to secure a light aircraft carrier seems to have washed ashore, as the funds for the project have been excluded from the defense budget for next year. The CVX carrier project, initiated by the Moon Jae-in administration, is aimed at building a 3,000-ton-class vessel. Last December, the then-ruling Democratic Party of Korea passed a 7.2 billion won ($5.34 million) budget for the project despite protests from the then-opposition People Power Party (PPP), which questioned its necessity and costs. However, since President Yoon Suk-yeol of the PPP took office in May, speculation has been mounting that the CVX program could be scrapped due to a shift in the priorities of the new administration.Shin Jong-woo, a senior researcher at the Korea Defense and Security Forum, said the CVX project had virtually fallen through after taking a backseat to other more

Aug 30, 2022By Kang Seung-woo
Nation's aircraft carrier program up in air
Defense

Ulchi Freedom Shield drill faces backlash from North Korea

A K-9 self-propelled howitzer fires an artillery shell during a live-fire exercise in Paju, Gyeonggi Province, Monday, as South Korean and U.S. troops conduct the Ulchi Freedom Shield exercise. YonhapPyongyang denounces exercise as rehearsal for invasion By Kang Seung-wooSouth Korea and the United States began the second session of their biggest combined military exercises in five years, Monday, amid strong protests from North Korea.The second part of the Ulchi Freedom Shield (UFS), scheduled to run through Thursday, focuses on counterattack operations to secure the safety of Seoul and its surrounding area. Last week's first segment involved drills to repel North Korean attacks and defend the greater capital region.“The UFS is an exercise of a defensive nature and counterattack operations of its second part are about securing safety in response to the enemy's attacks,” a military officer said. The UFS was previously known as Ulchi Freedom Guardian from 2008 to 2018 and as Combined Command Post Training from 2019 to 2021. The former leaders of the two countries ― Moon Jae-

Aug 29, 2022By Kang Seung-woo
Ulchi Freedom Shield drill faces backlash from North Korea
Foreign Affairs

Location emerges as sticking point in Yoon-Xi summit

President Yoon Suk-yeol and Chinese President Xi Jinping / Korea Times fileSouth Korea wants Chinese president to visit SeoulBy Kang Seung-wooThe location of a possible summit between President Yoon Suk-yeol and Chinese President Xi Jinping has emerged as an issue again after the South Korean leader once again expressed his hopes, Wednesday, to hold a face-to-face meeting with his Chinese counterpart. Yoon said he was looking forward to seeing Xi in person to discuss ways to develop relations between South Korea and China for the next 30 years on the occasions of the 30th anniversary of the establishment of diplomatic ties.This is not the first time that the South Korean leader expressed his hopes of meeting Xi.When Chinese Vice President Wang Qishan conveyed an invitation from Xi for Yoon to visit China at a mutually convenient time during his attendance at Yoon's inauguration ceremony, May 10, the South Korean president made a counter offer, saying he hopes to see the Chinese president in Seoul. In addition, Foreign Minister Park Jin also expected Xi to visit Korea at a mutually co

Aug 25, 2022By Kang Seung-woo
Location emerges as sticking point in Yoon-Xi summit
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