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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

Korea joins US-led sanctions to ban Russia's access to SWIFT

People from a civic group and Ukraine stage a protest rally near the Russian Embassy in Seoul, Monday, over Russia's invasion of Ukraine. YonhapSeoul also plans to ban exports of strategic materials to Moscow By Kang Seung-wooKorea has decided to participate in the international community's move to block select Russian banks from a global payments network as part of efforts to stand in line with global sanctions against Russia for invading Ukraine, Seoul's foreign ministry said Monday.In addition, Korea also plans to ban exports of strategic materials to Russia.The decision came days after the United States and its key allies, including Germany and Britain, announced Saturday (local time) that they would remove some Russian banks from the SWIFT bank messaging system. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication that facilitates rapid cross-border payments. President Moon Jae-in said, Thursday that Korea will join international sanctions against Russia in protest against its military aggression. “The Korean government will join the internation

Feb 28, 2022By Kang Seung-woo
Korea joins US-led sanctions to ban Russia's access to SWIFT
  • Korean firms on edge over getting money from Russia
  • Envoys of EU, Ukraine warn of severe consequences of Russian invasion
  • Envoy voices regret over South Korea joining sanctions against Russia
  • Ukraine calls for 'immediate ceasefire' as talks with Russia open
  • Russians in Korea unite against Putin's war on Ukraine
Politics

Presidential candidate apologizes for remarks on Ukraine's leader

By Kang Seung-wooLee Jae-myung, the presidential candidate of the ruling Democratic Party of Korea (DPK), has made an apology for his remarks about Ukraine's President Volodymyr Zelenskyy in a TV debate Friday regarding the cause of Russia's invasion of Ukraine, which drew a backlash both here and abroad. Lee Jae-myung, the presidential candidate of the ruling Democratic Party of Korea, participates in a TV debate on SBS in Seoul, Friday. Yonhap“Unlike my intentions, if my words caused misunderstanding to Ukrainians, I lacked the ability to express myself well,” Lee wrote on Facebook, Saturday, adding that his remarks were mainly aimed at pointing out the ill-founded diplomatic and security views of his main rival Yoon Suk-yeol of the People Power Party rather than disparaging the Ukrainian president.During the TV debate held, Friday, Lee said a novice politician with six months of political experience had become the country's leader and caused a major clash by inciting Russia with a hasty promise regarding Ukraine's admission into NATO. “This is an example of a dip

Feb 27, 2022By Kang Seung-woo
Presidential candidate apologizes for remarks on Ukraine's leader
  • Presidential candidates clash over lessons of Ukraine attack
  • Rival parties slam each other over presidential candidate's Ukraine blunder
Foreign Affairs

Korea pledges to join sanctions against Russia

Park Soo-hyun, senior presidential secretary for public communication, speaks during a press conference at Cheong Wa Dae, Thursday. YonhapPresidential candidates slam invasion By Kang Seung-wooPresident Moon Jae-in said, Thursday, Korea will join international sanctions against Russia in the wake of Moscow's attacks on Ukraine. While expressing regret over Russia's military aggression, the President added that any use of force causing the loss of innocent lives cannot be justified. “It is regrettable that Russia has invaded Ukraine despite the international community's repeated warnings and diplomatic efforts. Ukraine's sovereignty, territorial integrity and independence must be guaranteed. Any dispute between countries should be resolved not through war but through dialogue and negotiation,” Moon was quoted as saying by Park Soo-hyun, senior presidential secretary for public communication.“As a responsible member of the international community, Korea stands up for and participates in efforts, including economic sanctions, to deter the Russian invasion of Ukraine an

Feb 24, 2022By Kang Seung-woo
Korea pledges to join sanctions against Russia
  • Biden says US, allies will respond to 'unjustified' attack by Russia on Ukraine
  • Russia attacks Ukraine as defiant Putin warns US, NATO
  • NATO to beef up forces on its eastern flank
  • Despite sanctions, UK accused of swimming in 'dirty Russian money'
  • Ukraine crisis pushes national security to fore of presidential campaign
Politics

Presidential race neck and neck once again

Lee Jae-myung, the presidential candidate of the ruling Democratic Party of Korea, bows deeply to voters during a campaign stop in Chungju, North Chungcheong Province, Thursday. YonhapBy Kang Seung-wooThe presidential race has once again entered a period of uncertainty with less than two weeks left before the March 9 election, as the latest polls have found that the two leading candidates are still locked in a hard-fought contest. Political watchers believe the results, which show downticks in approval ratings for Yoon Suk-yeol of the main opposition People Power Party (PPP), are the fallout from the breakdown of a campaign merger proposed by Ahn Cheol-soo of the minor opposition People's Party. According to a survey by Embrain Public, Kstat Research, Korea Research and Hankook Research, Yoon with 39 percent led Lee Jae-myung of the ruling Democratic Party of Korea (DPK) at 37 percent within the margin of error, but Yoon had lost 1 percentage point from the previous survey, while Lee gained 6 percentage points. The survey has a margin of error of plus or minus 3.1 points at a 95 perc

Feb 24, 2022By Kang Seung-woo
Presidential race neck and neck once again
North Korea

North Korea highly expected to resume missile tests: experts

North Korean leader Kim Jong-un speaks during a groundbreaking ceremony for the construction of a greenhouse farm in South Hamgyong Province, Friday, in this photo provided by the North's Korean Central News Agency (KCNA). YonhapChina's Paralympics, two significant political meetings may affect Pyongyang's decision By Kang Seung-wooAs the Beijing Winter Olympics have come to a close, North Korea is anticipated to restart its show of force in the near future amid an impasse in nuclear talks with the United States, according to diplomatic observers. Pyongyang carried out an unprecedented seven rounds of missile launches in January, including a test-firing of an intermediate-range ballistic missile (IRBM), but has since refrained from saber-rattling in what seems to be a move to not steal attention from the 2022 Beijing Winter Olymmpic Games hosted by China, its lone economic pipeline and diplomatic protector. The quadrennial sporting event held its closing ceremony on Sunday. “I think North Korea refrained from any missile launches ― or other activities ― that could have interfe

Feb 22, 2022By Kang Seung-woo
North Korea highly expected to resume missile tests: experts
Politics

Lee, Yoon trade punches over economic policies

Presidential candidates pose for a photo before their TV debate at MBC in Seoul, Monday. From left are Lee Jae-myung of the ruling Democratic Party of Korea, Ahn Cheol-soo of the minor opposition People's Party, Sim Sang-jung of the minor opposition Justice Party and Yoon Suk-yeol of the main opposition People Power Party. Joint Press corpsBy Kang Seung-wooThe two leading presidential candidates, Lee Jae-myung of the ruling Democratic Party of Korea (DPK) and Yoon Suk-yeol of the main opposition People Power Party (PPP), did not mince words during the first of three TV debates hosted by the National Election Commission (NEC), Monday, taking swipes at each other's policies and pressing the opponent for answers to corruption scandals.Ahn Cheol-soo of the People's Party and Sim Sang-jung of the Justice Party also participated in the debate.Two more debates are scheduled for Friday and March 2, while the war of words is expected to intensify as the March 9 election date approaches.Citing a recently unveiled deposition regarding a large real estate development project in the Daejang-dong

Feb 21, 2022By Kang Seung-woo
Lee, Yoon trade punches over economic policies
Politics

'3 Nos,' THAAD pit leading presidential candidates against each other

This article is the third in a series about the 2022 presidential election candidates' campaign pledges. In this article, their pledges for Korea-China relations are examined and compared. ―EDAides clarify Lee's and Yoon's visions for Korea-China relationsBy Kang Seung-wooSouth Korea's relations with China have emerged as a key issue facing the next leader to be elected on March 9 and the two leading presidential candidates have offered sharply contrasting approaches to that issue.Traditionally, presidential candidates only needed focus on dealing with the United States, an undisputed longtime ally of South Korea. But now, those in the race for the top job in government are being asked to consider how to deal with China, which has emerged as South Korea's largest trading partner. Currently, Lee Jae-myung of the ruling Democratic Party of Korea (DPK) and Yoon Suk-yeol of the main opposition People Power Party (PPP) are the top two contenders in the March 9 presidential election. “Amid the U.S.-China confrontation, what kind of policy toward China to adopt is not easy. Previous g

Feb 17, 2022By Kang Seung-woo
'3 Nos,' THAAD pit leading presidential candidates against each other
  • Ahn Cheol-soo wrestling with streak of bad luck
  • Leading presidential contenders exchange sharp-tongued criticism
Politics

Ahn Cheol-soo wrestling with streak of bad luck

Ahn Cheol-soo, the presidential candidate of the minor opposition People's Party, enters a funeral home to attend the funeral of a deceased campaign worker at Dankook University Hospital in Cheonan, South Chungcheong Province, Thursday.By Kang Seung-wooThe presidential bid of minor opposition People's Party candidate Ahn Cheol-soo has been overshadowed by a streak of bad luck this week. On Tuesday, the first day of official campaigning for the March 9 election, two of his campaign workers ― a local campaign chief and a campaign bus driver ― were found dead in a bus, apparently from carbon monoxide poisoning, in Cheonan, South Chungcheong Province, while a similar case occurred in Wonju, Gangwon Province, leaving one person in critical condition. The Cheonan bus was equipped with an LED screen and power generator on the exterior and police suspect that carbon monoxide emitted from the equipment may be responsible for their deaths. According to the transportation ministry, Ahn's camp did not get the required approval from the Korea Transportation Safety Authority to install such device

Feb 17, 2022By Kang Seung-woo
Ahn Cheol-soo wrestling with streak of bad luck
  • '3 Nos,' THAAD pit leading presidential candidates against each other
Foreign Affairs

Korea under growing pressure to join US-led anti-Russia alliance

Seoul says paying close attention to developments in UkraineBy Kang Seung-wooKorea appears to be caught up in a conundrum over Ukraine, having to choose between its economic interests and duty as an ally of the United States following Washington's reference to possible military assistance from Seoul.Pentagon spokesman John Kirby / Korea Times fileHowever, the Korean government said it has not received an official request from the U.S. about the issue.Pentagon spokesman John Kirby said, Monday (local time), Ukrainians would be happy should Korea want to assist the Eastern European country in a “tangible way.”“We've noted and I've said before that many of our other allies in NATO were also finding ways to support Ukraine but those are sovereign decisions that each nation state has to make for themselves and I wouldn't get ahead of the South Korean government on this,” he said during a press briefing. His remarks came after a meeting by top diplomats from Korea, Japan and the U.S. in Hawaii, Saturday, where they shared unwavering support for Ukraine's sovereignty

Feb 16, 2022By Kang Seung-woo
Korea under growing pressure to join US-led anti-Russia alliance
  • Korean carmakers on edge over Russia-Ukraine crisis
Politics

Yoon, Ahn disagree on how to field unified candidate

Ahn Cheol-soo, left, and Yoon Suk-yeol / Korea Times photoPPP seeks Ahn's concession for Yoon's single candidacy; Ahn sticks to poll-based primary By Kang Seung-wooThe opposition bloc still remained far apart on how to field a unified presidential candidate, Monday, a day after People's Party candidate Ahn Cheol-soo made a dramatic offer to field a single contender. While proposing a unified candidacy to Yoon Suk-yeol of the main opposition People Power Party (PPP), Sunday, Ahn floated the idea of selecting a candidate based on public opinion polls. The PPP, which initially welcomed the offer with open arms, however, came to think twice as it has a different view about the format of deciding a candidate based on surveys. Ahn's offer to select a candidate is similar to one that was used to determine the opposition standard-bearer during last April's Seoul mayoral by-election between Ahn and Oh Se-hoon. In a tight race, a unified candidacy is regarded as a key to winning the March 9 presidential election for the opposition bloc as every public survey has shown a unified candidate betwe

Feb 14, 2022By Kang Seung-woo
Yoon, Ahn disagree on how to field unified candidate
  • Bring back the bunnies: Lee, Yoon grapple with revolt of stronghold voters
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