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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's ASEAN diplomacy put to test at summit with Widodo

Indonesian President Joko Widodo, left, and Indonesian first lady Iriana Widodo arrive at Seoul Air Base in Seongnam, Gyeonggi Province, Wednesday. YonhapKorea advised to expand ties with Southeast Asian countriesBy Kang Seung-wooPresident Yoon Suk-yeol is expected to take advantage of his Indonesian counterpart's visit to Korea in Seoul's pursuit of diplomacy to strengthen ties with the Association of Southeast Asian Nations (ASEAN) and promote foreign policy in the Indo-Pacific region. Indonesian President Joko Widodo arrived here Wednesday night for a two-day trip, during which he will sit down for a summit with Yoon and hold a roundtable with the leaders of Korean business groups. The presidential office is currently seeking to patch up the nation's existing diplomacy with ASEAN countries, represented by the New Southern Policy initiated by Yoon's predecessor Moon Jae-in, rather than completely reversing the policy. Earlier this week, a senior official of the presidential office described Widodo's trip as the “full-fledged” beginning of the Yoon administration's diplo

Jul 27, 2022By Kang Seung-woo
Yoon's ASEAN diplomacy put to test at summit with Widodo
Foreign Affairs

KOICA recognized for aid transparency

Trainees participate in the vocational educational training and qualification expert system training course held at the Gyeonggi Provincial Human Resources Development Institute of the Korea Chamber of Commerce and Industry in 2018. Courtesy of KOICA By Kang Seung-wooThe Korea International Cooperation Agency (KOICA) has gained global recognition as a transparent and accountable aid donor in the international community. According to the results of an aid transparency evaluation, the agency received a “Good” rating in the 2022 Aid Transparency Index (ATI), released July 13 by Publish What You Fund (PWYF), an independent non-governmental organization based in the United Kingdom that campaigns for aid transparency.KOICA is the nation's sole organization subject to the aid transparency assessment, and this is the second time that it has received a “Good” rating since 2020. Compared to the previous assessment in 2020, KOICA's scores rose evenly across the evaluation cri

Jul 26, 2022By Kang Seung-woo
KOICA recognized for aid transparency
Defense

Will President Jokowi's visit settle KF-X payment issue with Indonesia?

A KF-21 Boramae takes off at the third Flying Training Wing of the Air Force in Sacheon, South Gyeongsang Province, Tuesday, for its first flight test. Courtesy of Defense Acquisition Program AdministrationIndonesian president to arrive in Seoul, Wednesday By Kang Seung-wooAlthough the domestically developed KF-21 Boramae fighter jet took to the skies for the first time last week, the issue related to Indonesia's payment for the joint fighter jet program is still grounded as Jakarta has yet to keep its word to pay its share of the total cost.However, there is a glimmer of hope for a settlement of the overdue payment problem, as Indonesian President Joko Widodo will make a visit to Korea to hold a summit with President Yoon Suk-yeol, during which the two leaders are expected to discuss and reach a conclusion on the issue. The KF-X project is aimed at manufacturing a fighter plane with higher capabilities than a KF-16. Korea and Indonesia signed a deal in 2010 to cooperate on the project, under which the Southeast Asian country would fund 1.6 trillion won, amounting to 20 percent of th

Jul 25, 2022By Kang Seung-woo
Will President Jokowi's visit settle KF-X payment issue with Indonesia?
  • Indonesian president to visit Hyundai Motor's R&D center
Foreign Affairs

Korea in bind over US-led chip alliance

President Yoon Suk-yeol and U.S. President Joe Biden take a look around Samsung Electronics' semiconductor factory in Pyeongtaek, Gyeonggi Province, under the guidance of Samsung Vice Chairman Lee Jae-yong, May 20. Yonhap 'Korea's absence may benefit Japan's resurrection in chip sector' By Kang Seung-wooDespite a change in government, Korea still finds itself in a tricky situation over how to balance its military alliance with the United States and its economic relationship with China, as Washington pushes to form an anti-Beijing chip alliance. Since taking office in May, President Yoon Suk-yeol has shown signs of coming closer to the U.S., a drastic shift from his predecessor Moon Jae-in's so-called “balanced diplomacy” between the two countries. But the latest development is posing a challenge for Korea, the world's semiconductor powerhouse, because China is its biggest client and the possible ramifications could affect the entire economy in consideration of its p

Jul 22, 2022By Kang Seung-woo
Korea in bind over US-led chip alliance
Defense

Korea Aerospace Industries seeks to sell 1,000 FA-50s

A model of the nation's locally developed fighter, the KF-21 Boramae, is displayed at the Farnborough International Airshow in Britain, Thursday (local time). Courtesy of Korea Aerospace IndustriesBy Kang Seung-woo, Joint Press CorpsOn the back of the successful first flight of its KF-21 Boramae fighter jet earlier this week, the chief of Korea Aerospace Industries (KAI) is seeking to keep the momentum going by unveiling an ambitious new plan to sell 1,000 FA-50s within a decade. “To export 1,000 FA-50s means opening up a market worth 40 trillion won ($30.5 billion) in sales and 100 trillion won in follow-up logistics support,” President Ahn Hyun-ho told reporters at the Farnborough International Airshow in the U.K., Wednesday (local time).According to KAI, the global market volume for light attack aircraft in the world is 28,000 planes.“In addition, it carries extra significance that Korea will become the world's second-largest aircraft manufacturer, with the aerospace sector emerging as the nation's bona fide future growth engine along with the automotive and stee

Jul 21, 2022By Kang Seung-woo
Korea Aerospace Industries seeks to sell 1,000 FA-50s
Defense

KF-21 test pilot speaks of overcoming stress of successful first flight

Air Force Maj. Ahn Jun-hyun speaks during an interview. Courtesy of the Defense Acquisition Program AdministrationBy Kang Seung-wooAir Force Maj. Ahn Jun-hyun, who successfully conducted the maiden flight of the nation's first domestically developed fighter jet, Tuesday, admitted that he felt substantial psychological stress right before takeoff.But ultimately, he was able to shake off the pre-performance jitters and complete the historic flight, making Korea the world's eighth country to develop an advanced supersonic warplane.The KF-21 Boramae, developed by Korea Aerospace Industries (KAI), took to the skies for the first time ― 21 years after the KF-X program was initiated to manufacture an advanced multi-role fighter plane with higher capabilities than a KF-16 fighter. The Air Force plans to secure 120 KF-21s by 2032. “Although I did not express it, I felt a lot of psychological pressure until right before the takeoff,” Ahn of the 52nd Test and Evaluation Group said in an interview released by the Defense Acquisition Program Administration (DAPA) to the media, Wednesd

Jul 20, 2022By Kang Seung-woo
KF-21 test pilot speaks of overcoming stress of successful first flight
Defense

KF-21 takes off for first time

A KF-21 Boramae takes off at the third Flying Training Wing of the Air Force in Sacheon, South Gyeongsang Province, Tuesday, for its first flight test. Courtesy of Defense Acquisition Program AdministrationBy Kang Seung-wooThe KF-21 Boramae, the nation's first domestically developed fighter jet, made history with a successful maiden flight, Tuesday, making Korea the world's eighth country to develop an advanced supersonic warplane. According to the Defense Acquisition Program Administration (DAPA), the KF-21, the 4.5-generation fighter produced by Korea Aerospace Industries (KAI), took off at the third Flying Training Wing of the Air Force in Sacheon, South Gyeongsang Province, and flew around the area for more than 30 minutes. The KF-X, aimed at manufacturing a fighter plane with higher capabilities than a KF-16 fighter, was initiated in March 2001 by late President Kim Dae-jung. The Air Force plans to secure 120 advanced multi-role fighter jets by 2032 to replace its aging fleet of F-4s and F-5s under the project.Korea and Indonesia signed a deal in 2010 to cooperate on the project

Jul 19, 2022By Kang Seung-woo
KF-21 takes off for first time
Foreign Affairs

Time not on Korea's side for better relations with Japan

Park Jin, right, nominee for foreign minister at the time, poses with Japanese Foreign Minister Yoshimasa Hayashi in Seoul, May 9, when the latter visited Korea to attend the inaugural ceremony of President Yoon Suk-yeol. Courtesy of Ministry of Foreign AffairsForeign ministers of Korea, Japan to meet for first time in nearly five yearsBy Kang Seung-wooThe foreign ministers of Korea and Japan will sit face to face later this week for the first time in four years and seven months, offering a glimmer of hope of a thaw in chilled ties between the neighboring countries over wartime forced labor and territorial issues. However, the timing of Foreign Minister Park Jin's trip to Tokyo does not seem perfect for Korea to restore the frayed relations, which is one of President Yoon Suk-yeol's foreign policy goals, amid an increasing number of domestic issues within Japan that are significantly related to its ties with Korea.According to the Ministry of Foreign Affairs, Park will visit Japan from Monday to Wednesday, during which he will hold his first meeting with Japanese Foreign Minister Yos

Jul 17, 2022By Kang Seung-woo
Time not on Korea's side for better relations with Japan
Defense

Education conference held for Korean, US service members

Participants in an education conference for the KDVA-Korea Chapter pose at U.S. Army Garrison Humphreys in Pyeongtaek, Gyeonggi Province, Wednesday. Courtesy of KDVA-Korea ChapterBy Kang Seung-wooThe Korea Defense Veterans Association (KDVA)-Korea Chapter held an education conference, Wednesday, to encourage U.S. soldiers along with KATUSA soldiers to explore the direction, development and importance of the Korea-U.S. alliance. According to the organization, the KDVA Alliance Education Conference took place at U.S. Army Garrison Humphreys in Pyeongtaek, Gyeonggi Province, with some 100 participants, including KDVA-Korea Chapter President Lee Seo-young and Eighth Army Deputy Commanding General for Sustainment Brig. Gen. Joseph D'costa.“The Korea-U.S. alliance and the combined defense system are the foundation of the defense of the Republic of Korea,” Lee said in his welcoming speech.“In a situation where North Korea's nuclear and missile capabilities continue to advance, I hope that U.S. forces will maintain a high level of combat readiness to deter North Korean prov

Jul 14, 2022By Kang Seung-woo
Education conference held for Korean, US service members
Defense

South Korea, US hold first combined F-35 drills

Eight F-35A stealth fighters from the South Korean and U.S. air forces fly in formation during their combined air drills in this photo released, Thursday, by the South Korean Air Force. Courtesy of ROK Air ForceBy Kang Seung-wooThe South Korean and U.S. air forces have conducted joint air drills featuring F-35A stealth fighters for the first time in an apparent show of force against North Korea's escalating nuclear and missile challenges. According to the South Korean Air Force, Thursday, the allies staged four-day joint exercises from Monday with more than 30 fighter jets from the two sides in order to boost combined operational capability, while increasing interoperability of the F-35A ― a fifth generation aircraft that is in service in both countries. South Korea decided to purchase the 40 stealth fighter jets in 2013 under the F-X III program and completed their deployment in January. Along with the respective F-35As, the F-15K, KF-16 and FA-50 from the South Korean Air Force and the F-16 from the U.S. side participated in the drills. Six U.S. F-35As arrived here last week to jo

Jul 14, 2022By Kang Seung-woo
South Korea, US hold first combined F-35 drills
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