Korea Times Finance Reporter
Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
The Reformist Party head Lee Jun-seok and Rep. Yang Hyang-ja, who leads Hope of Korea, declared the merger of their respective parties, Wednesday, marking a significant step toward collaboration among minor parties in the lead-up to the April 10 general elections.
A dispute between President Yoon Suk Yeol and ruling People Power Party (PPP) interim leader Han Dong-hoon appears to have subsided after their unexpected meeting on Tuesday. But the party's internal conflicts, stemming from multiple controversies surrounding first lady Kim Keon Hee, are expected to persist.
The idea of new political parties uniting under a "big tent" is widely under discussion, but the formation of such a coalition remains uncertain due to key differences in ideologies and interests among the breakaway factions.
Since the beginning of this year, tensions on the Korean Peninsula have been escalating to their highest level in years, with South and North Korea exchanging threats and warnings instead of New Year pleasantries.
Opposition parties are demanding an official apology from President Yoon Suk Yeol after a member of the minor opposition Jinbo Party was forcibly ejected from an event by the Presidential Security Service (PSS), which the liberal bloc characterized as "suppression against lawmakers."
Despite efforts by People Power Party (PPP) interim leader Han Dong-hoon to attract voters, the ruling party continues to lack widespread approval, with ratings remaining at similar levels to those before the ex-justice minister became its leader.
South Korea, the United States and Japan have conducted joint naval exercises including the participation of the U.S. Navy nuclear-powered aircraft carrier USS Carl Vinson, in a show of strengthened trilateral military cooperation in response to North Korea's increasing missile threats.
A blood bank refrigerator is almost empty at the Korean Red Cross office in Suwon, Gyeonggi Province, Tuesday. Due to a decline in blood donations during the winter season, the nation's blood stocks are running low, with reserves sufficient for only 3.8 days, falling short of the optimal five-day level. Yonhap
Lee Nak-yon, third from left, former leader of the Democratic Party of Korea (DPK), joins hands with Lee Jun-seok, center, former chief of the People Power Party, and other dignitaries during a launching ceremony of a steering committee in Seoul, Tuesday, that will lay the ground for the former DPK leader's new political party. The event also brought together former DPK lawmaker Keum Tae-sup, second from left, and independent lawmaker Yang Hyang-ja, second from right, fueling speculation of a potential coalition for a big tent party in the lead-up to the April 10 general elections. Korea Times photo by Shim Hyun-chul
North Korean leader Kim Jong-un has proposed amending the Constitution to officially designate South Korea as the "primary foe." Additionally, he expressed an intent to annex the South in the event of a war. Analysts believe this could signify a transformative moment in inter-Korean relations.