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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

Yoon says he hopes to meet Xi to develop bilateral ties

Foreign Minister Park Jin, second from left, and Chinese Ambassador to Korea Xing Haiming, center, propose a toast during a ceremony to celebrate the 30th anniversary of the establishment of diplomatic ties between Korea and China in Seoul, Wednesday. YonhapChinese president stresses need to unite and cooperate with SeoulBy Kang Seung-wooPresident Yoon Suk-yeol said, Wednesday, he was looking forward to seeing Chinese President Xi Jinping in person to discuss ways to develop relations between South Korea and China for the next 30 years as Seoul and Beijing celebrate the 30th anniversary of the establishment of diplomatic ties.In response, Xi said the two countries should be good neighbors, friends and partners, stressing the importance of the bilateral ties.Both leaders' congratulatory messages were read out by their top diplomats ―- Park Jin and Wang Yi ―during separate anniversary ceremonies held simultaneously in Seoul and Beijing.“South Korea and China have not only been geographically close, but have also built long-standing ties culturally and historically. We are further

Aug 24, 2022By Kang Seung-woo
Yoon says he hopes to meet Xi to develop bilateral ties
Politics

Former, current gov't officials clash over Vogue shoot in Cheong Wa Dae

By Kang Seung-wooTak Hyun-min, the former protocol secretary ― during the previous Moon Jae-in administration ― and Park Min-shik, the minister of patriots and veterans affairs, engaged in a war of words over a recent fashion magazine shoot at Cheong Wa Dae.Cheong Wa Dae was the site of the presidential office and residence for over seven decades before President Yoon Suk-yeol decided to relocate his office to Yongsan District in May because it was a “symbol of the imperial presidency” and as a way to get closer to the people, according to him. Since then, Cheong Wa Dae has been open to the public, drawing nearly 1.4 million visitors since the end of July.Tak Hyun-min, protocol presidential secretary to former President Moon Jae-in / Korea Times fileThe Cultural Heritage Administration teamed up with Vogue Korea for its “Visit Korean Heritage” campaign, through which the fashion magazine unveiled a spread comprised of 32 photos on its official website, Monday.Upon the release of the photo spread, Tak wrote on Facebook, “It is sad how much political autho

Aug 24, 2022By Kang Seung-woo
Former, current gov't officials clash over Vogue shoot in Cheong Wa Dae
Foreign Affairs

Anti-China sentiment overshadows 30th anniversary of Korea-China ties

gettyimagesbank80% of S. Koreans hold unfavorable opinions of neighboring countryBy Kang Seung-wooSouth Korea will mark three decades of diplomatic relations with China, Wednesday, and both countries have become important partners of each other, as evidenced by the fact that China is Korea's No. 1 trading partner and Seoul is Beijing's fourth-largest export destination. However, despite these quantitative developments, negative views of China have been increasing sharply among South Koreans, with the country becoming the second-least popular among South Korea's neighboring countries that also include Japan, North Korea, Russia and the United States. According to the U.S.-based Pew Research Center, South Koreans with negative views of China stand at 80 percent this year. The study was conducted from February to June of this year. Based on its surveys conducted since 2002, anti-China sentiment has been growing steadily, from 31 percent in 2002 to 80 percent in 2022. The Asan Institute for Policy Studies also issued a report about its poll on South Korea's neighbors in June, and China

Aug 23, 2022By Kang Seung-woo
Anti-China sentiment overshadows 30th anniversary of Korea-China ties
  • South Korea-China relations at crossroads
  • Chinese premier calls for quick progress in follow-up FTA talks with Korea
Foreign Affairs

Korea rejects Iran's calls to release frozen funds

gettyimagesbankSeoul-Tehran frozen funds issue hinges on US-Iran nuclear dealBy Kang Seung-woo Despite repeated demands from Iran that Korea swiftly unlock funds held in two Korean banks, the Korean government remains adamant that releasing the assets is out of the question as long as U.S. sanctions on Tehran remain unchanged, according to the foreign ministry here.Korea and Iran are set to celebrate the 60th anniversary of diplomatic relations in October, but their ties have been going south as the Middle Eastern country has been complaining about the Korean government's refusal to unlock $7 billion (9.3 trillion won) of Iran's money held in accounts at Woori Bank and the Industrial Bank of Korea due to U.S. sanctions that were imposed again in 2018 after former President Donald Trump withdrew from a 2015 multinational nuclear pact. Consequently, the banks can face sanctions in the U.S if they conduct transactions with Iran or relevant businesses. The latest complaint from Iran came from its Ambassador to Korea Saeed Badamchi Shabestari during a recent interview with The Korea Times

Aug 22, 2022By Kang Seung-woo
Korea rejects Iran's calls to release frozen funds
  • INTERVIEW Iranian ambassador urges Korea to release frozen funds
Politics

North Korea refuses to form ties with Yoon-led South Korea: experts

North Korean leader Kim Jong-un joins a group photo session with medics of the Korean People's Army at the April 25 House of Culture in Pyongyang, Thursday, in this photo released by the North's Korean Central Television the following day. YonhapKim Yo-jong rejects South Korean president's 'audacious initiative' By Kang Seung-wooIn a scathing statement unveiled, Friday, Kim Yo-jong, the powerful sister of North Korean leader Kim Jong-un, said Pyongyang has no intention of establishing a “significant” relationship with the new South Korean government that recently unveiled an aid-for-disarmament initiative for the northern neighbor.Experts, meanwhile, said North Korea's fiery words reflect its intention to maintain the upper hand in affairs involving South Korea.According to the North's state-run Korean Central News Agency, Kim rejected the Yoon Suk-yeol administration's “audacious plan,” which boils down to improving North Korea's economy through large-scale economic incentives and technical support programs if the reclusive country takes steps toward denuclea

Aug 19, 2022By Kang Seung-woo
North Korea refuses to form ties with Yoon-led South Korea: experts
  • N. Korea rejects S. Korea's 'audacious initiative' in statement by leader's sister
  • Presidential office expresses regret over N. Korea's 'rude' remarks
  • S. Korea, US voice regret over N. Korea in high-level phone talks
North Korea

Yoon opposes forceful change to status quo in North Korea

North Korean leader Kim Jong-un gives a speech during an event in Pyongyang in July to mark the armistice that ended the Korean War in 1953, July 27. Yonhap Pyongyang fires two cruise missiles before press conference, a day after preliminary joint ROK-US drillBy Kang Seung-wooPresident Yoon Suk-yeol said, Wednesday, that South Korea will not pursue any efforts for regime change or any other intervention that can alter the current political system of North Korea, adding that Seoul is not in a position to guarantee Pyongyang's security. The president also ruled out the possibility of South Korea acquiring its own nuclear weapons against evolving North Korean nuclear threats, saying the country is committed to the global nuclear non-proliferation regime.He made the remarks during a press conference held to mark the 100th day of his presidency. “Guaranteeing the security of the North Korean regime is not something that South Korea can provide,” Yoon told reporters. “But neither I nor the government wants the status quo changed unreasonably or by force in North Korea.&rd

Aug 17, 2022By Kang Seung-woo
Yoon opposes forceful change to status quo in North Korea
  • Yoon remains optimistic about Seoul-Tokyo relations
  • 'Labor law should be changed in line with Fourth Industrial Revolution'
Foreign Affairs

Envoy raises awareness of Korea among Serbian public

Korean Ambassador to Serbia Lee Jae-woong, third from right, poses with Serbs after inspecting the Korea Corner at the University of Novi Sad in Serbia in this June 20 photo. Courtesy of the Korean Embassy in SerbiaTextbook about Korea, Korea Corner launched By Kang Seung-wooSerbia was a late adopter of globally booming Korean culture ― represented by K-pop ― due to its lack of exchange with Seoul as well as civil unrest in the Balkan state. However, in the wake of the COVID-19 pandemic outbreak, in which physical contact has become limited, the use of social network platforms and over-the-top media services has been sharply increasing, thereby acquainting Serbs with Korean-made content ― the point, at which Korean Ambassador to Serbia Lee Jae-woong thought it was the right time to introduce tools to raise awareness and understanding of Korea among the Serbian public.“More Serbs are becoming interested in Korea, but there were few books or materials explaining our history and culture properly. As a result, those who wanted to know about Korea only had limited information to rel

Aug 17, 2022By Kang Seung-woo
Envoy raises awareness of Korea among Serbian public
Defense

Ex-USFK commander rejects China's claims over THAAD

By Kang Seung-wooThe former commander of U.S. Forces Korea, Robert Abrams, refuted China's claims that the previous South Korean administration promised to restrict the operations of the Terminal High Altitude Area Defense (THAAD) system on the Korean Peninsula and that the U.S. missile defense battery undermines Beijing's security interests.In 2016, South Korea decided to deploy the U.S.-owned system on its soil due to growing North Korean nuclear and missile threats.Robert Abrams / Korea Times fileSince the new South Korean government was inaugurated in May, the THAAD deployment has been emerging as a contentious issue between Seoul and Beijing as President Yoon Suk-yeol has vowed to strengthen South Korea's alliance with the United States amid the intensifying strategic competition between the U.S. and China.The latest dispute over the THAAD issue came last week as the Chinese foreign ministry claimed that the Yoon administration should abide by the “Three Nos” and “One Restriction” policy, which was announced by the preceding Moon Jae-in administration.The

Aug 14, 2022By Kang Seung-woo
Ex-USFK commander rejects China's claims over THAAD
Foreign Affairs

KOICA seeks support for Busan's bid to host World Expo

KOICA President Sohn Hyuk-sang, fourth from left, poses with Minister of Finance of Samoa Mulipola Anarosa Ale Moli'o, third from right, along with the two sides' representatives during their meeting on the occasion of the Forum Economic Ministers Meeting of the Pacific Islands Forum in Port Vila, Vanuatu, Friday (local time). Courtesy of KOICA By Kang Seung-wooThe Korea International Cooperation Agency (KOICA) promoted the Korean port city of Busan's bid to host the World Expo 2030 in its participation in the Forum Economic Ministers Meeting (FEMM) in Port Vila, Vanuatu, last week, where it discussed development cooperation issues facing Pacific Island countries. The FEMM is convened by the 18-member Pacific Islands Forum (PIF) and addresses key economic and socio-economic issues facing the Pacific. The latest edition took place to discuss implementation measures for the 2050 Strategy for the Blue Pacific Continent, a vision for common regional development, and support from dialogue partners. The economic ministers of 13 PIF member countries and high-level officials from governments

Aug 14, 2022By Kang Seung-woo
KOICA seeks support for Busan's bid to host World Expo
Politics

Defense minister refutes China's claim on THAAD

Defense Minister Lee Jong-sup speaks during a press conference at the Ministry of National Defense Convention in Seoul, Thursday. Courtesy of Ministry of National DefenseSeoul may ditch inter-Korean military pact in event of Pyongyang's nuclear test By Kang Seung-wooSouth Korea's defense minister said, Thursday, a U.S. anti-missile shield, currently deployed on the Korean Peninsula, cannot operate to Washington's advantage, rejecting China's claim that the system's radar can spy on its military maneuvers and undermine its security interests.In addition, Defense Minister Lee Jong-sup vowed to speed up efforts to transform the Terminal High Altitude Area Defense (THAAD) base in South Korea into a permanent structure. Since the establishment of the base in 2017 at a local golf course, hundreds of U.S. and South Korean service members stationed there have been using shipping containers and an old golf clubhouse, raising concerns over their poor living conditions. The deployment of the THAAD battery has emerged as a hot-button issue between Seoul and Beijing, as evidenced by their foreign

Aug 11, 2022By Kang Seung-woo
Defense minister refutes China's claim on THAAD
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