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Foreign Affairs

Korea, Mongolia discuss ways to accelerate economic ties, trade talks

Korea and Mongolia discussed ways to accelerate economic cooperation, including progress on a trade agreement under negotiation, as the two countries seek to bolster cooperation in supply chains for key minerals, the trade ministry said Wednesday. Trade Minister Yeo Han-koo met with Jadambyn Enkhbayar, Mongolia's minister of economy and development, in Ulaanbaatar, where the two sides exchanged views on the progress of negotiations for a comprehensive economic partnership agreement (CEPA), according to the Ministry of Trade, Industry and Resources. A CEPA is a type of free trade agreement that emphasizes a broad scope of economic cooperation and exchanges in addition to market opening. Korea and Mongolia launched the first round of negotiations in 2023. The trade ministry said Mongolia is rich in minerals vital for cutting-edge industries, including copper, molybdenum and rare earth elements, and plays a key role in Korea's efforts to establish stable supply chains. "The CEPA between Korea and Mongolia will serve as a key institutional framework not only for the expansion of trade and inv

20h agoBy Yonhap
Korea, Mongolia discuss ways to accelerate economic ties, trade talks
Foreign Affairs

Lee says ties with Canada advancing quickly in mutually beneficial manner

EVIAN-LES-BAINS, France — President Lee Jae Myung held talks with Canadian Prime Minister Mark Carney on Tuesday, saying bilateral ties are advancing briskly in a mutually beneficial manner. The meeting came on the sidelines of a Group of Seven (G7) summit in Evian-les-Bains, which Lee is attending for the second consecutive year as the head of an invited country. The two leaders met ahead of Canada's expected selection of a preferred bidder for its submarine acquisition project, worth 60 trillion-won ($39.8 billion), in late June. A consortium of Korea's Hanwha Ocean Co. and HD Hyundai Heavy Industries Co. is competing with Germany's Thyssenkrupp Marine Systems for the deal. "As like-minded countries, relations between our two nations are briskly advancing in a mutually beneficial manner," Lee said in his opening remarks. "As we have a lot to cooperate on, let us discuss more detailed areas of cooperation," the Korean president added. Carney highlighted the deepening partnership between the two countries, citing defense, investment and culture as areas in which Korea and Canada have bee

1d agoBy Yonhap
Lee says ties with Canada advancing quickly in mutually beneficial manner
Foreign Affairs

Lee calls for efforts to advance Korea-Germany ties to 'new level'

EVIAN-LES-BAINS, France — President Lee Jae Myung held bilateral talks with German Chancellor Friedrich Merz in France on Tuesday, calling for efforts to advance their countries' bilateral relations to an unprecedented level. The two leaders met on the sidelines of a Group of Seven (G7) summit in Evian-les-Bains, France, as Lee attended the event for the second consecutive year as the leader of an invited country. "I think Korea and Germany are countries that could cooperate in many fields and create synergy through cooperation," Lee said, opening the talks. "I hope that Korea and Germany will work together to advance (their relations) to a new and different level," the Korean president said. The German chancellor called bilateral relations "pretty good" and said Korea is highly regarded in Germany. "The cooperation is on a very high level. So I am very much looking forward to my visit to your country by the end of October," Merz said, referring to his planned visit to Korea.

1d agoBy Yonhap
Lee calls for efforts to advance Korea-Germany ties to 'new level'
Foreign Affairs

Lee asks Trump to spearhead resolution of NK issues at G7 meeting

EVIAN-LES-BAINS, France — South Korean President Lee Jae Myung attended the Group of Seven (G7) summit in Evian-les-Bains, France, on Tuesday and had a brief encounter with U.S. President Donald Trump during a photo session. Emmanuel Macron, president of host France, welcomed Lee to the summit venue. The South Korean president responded, "I am so happy," after Macron asked, "How are you?" During a subsequent group photo session for leaders of participating countries, Lee had a brief encounter with Trump for about 30 seconds, a livestream of the event showed. Lee and Trump were seen eagerly speaking to each other through who appeared to be an interpreter. Presidential spokesperson Kang Yu-jung later said in a briefing that Trump asked Lee about the latest developments in inter-Korean ties during the conversation. Lee asked Trump to spearhead a peaceful resolution of North Korean issues, as he did with the war in the Middle East, to which the U.S. president responded by expressing his intention to work toward such a resolution, according to the spokesperson. This year marks the second cons

1d agoBy Yonhap
Lee asks Trump to spearhead resolution of NK issues at G7 meeting
Foreign Affairs

Lee says dialogue, encounter essential paths toward peace: report

EVIAN-LES-BAINS, France — President Lee Jae Myung on Tuesday described dialogue and encounter as essential paths toward peace, highlighting South Koreans' longing for lasting peace on the Korean Peninsula. The president made the remarks in an exclusive statement released to Fides News Agency, the Vatican's news agency, on the theme of World Youth Day 2027, which is set to be hosted by Korea next year. Lee "presented dialogue and encounter as essential paths toward peace," the news agency reported. "Our peninsula remains divided, and we understand deeply the longing for reconciliation and lasting peace," he was quoted as saying. He noted that World Youth Day's focus on encounter and dialogue speaks to a universal truth, saying, "Peace begins when people meet, listen to one another and recognize their shared humanity." Noting the ongoing division of the Korean Peninsula, the president added, "Peace on the Korean Peninsula and peace in the wider world are deeply connected." The president highlighted that Korea looks forward "with great anticipation" to welcoming Pope Leo XIV, noting his pr

1d agoBy Yonhap
Lee says dialogue, encounter essential paths toward peace: report
Foreign Affairs

Lee arrives at Geneva Airport for G7 summit in France

President Lee Jae Myung arrived at Geneva Airport on Tuesday en route to Evian-les-Bains, France, to attend a Group of Seven (G7) summit. France is the final leg of the president's European trip, his first visit to the region since taking office a year earlier. Lee was scheduled to attend G7 sessions in Evian later in the day and again Wednesday as the leader of an invited partner nation. The summit is expected to address a wide range of issues, including the wars in Ukraine and Iran, global financial instability and the emergence of artificial intelligence (AI). Lee will return home Wednesday, wrapping up his 10-day Europe trip.

1d agoBy Yonhap
Lee arrives at Geneva Airport for G7 summit in France
Others

Korea, UAE discuss energy supply ties amid supply chain uncertainties

Korea and the United Arab Emirates (UAE) discussed strategic cooperation in the energy sector, including joint oil reserves and nuclear power plants, the industry ministry said Tuesday. Industry Minister Kim Jung-kwan met with Musabbeh Al Kaabi, chief executive officer (CEO) of upstream at Abu Dhabi National Oil Company, to discuss the stable supply of crude oil, according to the Ministry of Trade, Industry and Resources. During the meeting, Korea was briefed that imports of the 24 million barrels of crude oil secured from the Gulf nation under an agreement reached in March were proceeding smoothly. The two sides also discussed a wide range of issues related to bilateral energy cooperation, including establishing a new supply route bypassing the Strait of Hormuz through large-scale infrastructure projects. Kim additionally asked for the UAE's support and attention for competitive Korean firms seeking to participate in energy projects in the Middle Eastern nation. The industry minister also met with Sharif Salim Al Olama, undersecretary for energy affairs at the UAE's energy ministry, to d

1d agoBy Yonhap
Korea, UAE discuss energy supply ties amid supply chain uncertainties
Foreign Affairs

InterviewSlovakia strengthens its position as hub for Korean investment in Europe

As Korean companies accelerate their expansion into Europe, Slovakia is emerging as one of the continent’s most attractive gateways, leveraging its strategic location, advanced manufacturing base and growing cooperation with Korea in robotics, artificial intelligence (AI) and research. Officials from the Embassy of the Slovak Republic and Slovakia’s investment promotion agency say bilateral ties are entering a new phase, moving beyond traditional manufacturing into high-value sectors such as AI-driven automation, semiconductors, industrial robotics and joint research. “Slovakia’s goal is not simply to attract more factories, but to bring in investment with added value,” Michal Dutko, head of the Slovak Investment Office in Korea under the Slovak Investment and Trade Development Agency (SARIO), told The Korea Times at the Slovak Embassy in Seoul. “That is why we are focusing on robotics, AI, semiconductors and cooperation between universities and research institutions,” Dutko said. Robotics has become a strategic priority for Slovakia as the country prepares its workforce fo

1d agoBy Anna J. Park
Slovakia strengthens its position as hub for Korean investment in Europe
Foreign Affairs

Korea in consultations with US, Iran on Hormuz transit following peace deal

Korea has begun consultations with the United States, Iran and other relevant countries regarding navigation through the Strait of Hormuz following the signing of a preliminary deal aimed at ending the monthslong war in the Middle East, the foreign ministry said Tuesday. According to U.S. officials, President Donald Trump, Vice President JD Vance and Iran's parliamentary speaker Mohammad Bagher Ghalibaf inked the memorandum of understanding (MOU) that would extend the countries' ceasefire for 60 days, during which negotiations will take place to address nuclear and other issues to reach a final peace deal. A large number of vessels, including two dozen Korea-linked ships, have been stranded in the waterway, which Iran has effectively choked off with threats of missile and drone strikes amid the war. "We are assessing the details related to maritime transit and have begun necessary communication with relevant countries, including the U.S. and Iran," ministry spokesperson Park Il said during a regular press briefing. According to Park, the government is closely monitoring a range of factor

1d agoBy Yonhap
Korea in consultations with US, Iran on Hormuz transit following peace deal
North Korea

Jeju Forum seeks to invite North Korean UNESCO official to participate remotely

The organizers of the Jeju Forum, an annual event held in Jeju Island on themes of peace, are seeking to invite a North Korean UNESCO official to participate remotely in this year's edition, which is set to take place next week. If realized, the official will become the first North Korean to take part in the South Korean-hosted forum since its launch in 2001. According to the Ministry of Foreign Affairs and the Ministry of Unification, the forum organizers are working to invite Chang Gwang-chol, chief of the Education Policy Section at UNESCO’s Division for Policies and Lifelong Learning Systems, as a speaker for a session titled “UNESCO and the Future of Education: Challenges and Prospects” on June 26. The unification ministry said forum organizers had filed a notification in advance to communicate with Chang. Under South Korean law, contact with North Korean nationals requires prior approval from the unification ministry, even if the communication is related to participation in an academic or international event. “The organizers submitted the contact report in advance, and we a

1d agoBy Bahk Eun-ji
Jeju Forum seeks to invite North Korean UNESCO official to participate remotely
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