Korea to hold 2nd preparatory high-level meeting for APEC summit next monthKorea will host the second round of the high-level preparatory meeting next month for the upcoming Asia-Pacific Economic Cooperation (APEC) summit, the foreign ministry said Tuesday. The Senior Officials' Meeting (SOM) for the multilateral gathering will take place on the ern resort island of Jeju from May 3-16, the ministry said in a release The meeting will bring together some 3,000 government delegates and representatives of private sectors from 21 APEC member economies. Korea will use the occasion to highlight the details of key agenda items it has introduced for this year's summit, including cooperation on artificial intelligence and responses to demographic changes. Coinciding with the event will be ministerial meetings on finance and trade, as well as a series of conferences on economy and technology cooperation, women and economic policy partnerships, among others. Three more SOM sessions are expected to be held before the summit, scheduled for November.Apr 29, 2025By Yonhap
Trade minister vows all-out efforts to boost foreign investment, reshoring firmsTrade Minister Cheong In-kyo said Monday the government will make all-out efforts to attract more foreign investment and support the return of local firms from overseas. Cheong made the remarks during a policy coordination meeting with local government leaders and officials from the Korea Trade-Investment Promotion Agency, according to the Ministry of Trade, Industry and Energy. "Expanding foreign direct investment (FDI) and supporting reshoring companies are keys to enhancing national industrial competitiveness and revitalizing regional economies, even in the face of abrupt changes in global trade conditions," Cheong said. He further pledged continued policy support in close cooperation with local governments and free economic zones. In 2024, South Korea attracted a record high $32.57 billion in FDI, the highest since records began in 1962, according to the ministry. Despite global uncertainties, the ministry assessed that FDI has remained resilient this year, noting that South Korea secured $6.4 billion in commitments in the first quarter alone.Apr 28, 2025By Yonhap
Why acting President Han Duck-soo spoke to foreign media amid election buzzAs Korea's political scene heats up ahead of the presidential election, an unexpected spotlight has fallen on foreign media. Acting President Han Duck-soo further fueled speculation over his potential candidacy with an interview in the Financial Times (FT), published on April 20. In the interview, Han responded to a question about his presidential ambitions by saying he had "not yet" made a decision, and when pushed on whether he was considering a bid, he said: "No comment." In politics, a "no comment" is often interpreted as a "yes." Following the impeachment of former President Yoon Suk Yeol, some figures within the People Power Party and the broader conservative camp have actively encouraged Han to run. According to insiders, Han is expected to announce his decision soon. Ultimately, he chose to hint at his position for the first time not through domestic media but through a foreign outlet. The choice raises questions. Why did Han choose to speak to foreign media? It is unlikely that his background as a former ambassador to the United States and economic affairs official simply made hApr 28, 2025By KTimes
Korea, US agree to seek 'July package' on tariffsKorea has requested exemptions from U.S. "reciprocal" and item-specific tariff measures and suggested a package deal to be made by July, Seoul's Ministry of Trade, Industry, and Energy said Friday. The proposals came during trade talks between the two nations' finance and trade authorities in Washington, D.C., Thursday (local time). Korea’s Deputy Prime Minister and Finance Minister Choi Sang-mok; Minister of Trade, Industry and Energy Ahn Duk-geun; U.S. Treasury Secretary Scott Bessent; and U.S. Trade Representative (USTR) Jamieson Greer took part in the trade consultations following the Donald Trump administration’s "reciprocal" tariffs imposition. In a press conference following the talks, Choi explained that he expressed willingness to cooperate on the areas that are of major interest to the U.S., such as trade, investment, shipbuilding and energy. He also addressed concerns that the U.S. tariffs could negatively impact economic cooperation between the two countries, especially in the automotive sector. "We explained that we need calm and orderly negotiations," Choi said, referrApr 25, 2025By Lee Gyu-lee
Korea voices deep regret over Japan PM's offering, lawmakers' visit to war shrineKorea expressed deep regret Tuesday after Japanese Prime Minister Shigeru Ishiba sent a ritual offering to a war shrine seen as symbolizing its militaristic past and its lawmakers paid their respects there. Ishiba sent the offering to the Yasukuni Shrine honoring Japanese war dead, including 14 Class A criminals convicted by the Allies in international tribunals for their roles in World War II, on the occasion of the annual spring festival. A bipartisan group of Japanese lawmakers also visited the shrine in person to pay their respects, according to Japanese media. "We express deep disappointment and regret that responsible leaders in Japan have once again made offerings to or visited the Yasukuni Shrine," foreign ministry spokesperson Lee Jae-woong said in a commentary. "We urge Japanese leaders to squarely face history and show through action humble reflection and genuine atonement for historical issues, and we once again emphasize that these will be the foundation for building a future-oriented bilateral relationship between the two countries," Lee said. Sending an offering or visitingApr 22, 2025By Yonhap
Korea, Thailand set to hold 5th round of economic partnership negotiationsKorea and Thailand were set to kick off their fifth round of negotiations for a bilateral economic partnership agreement (EPA) Tuesday, as the two sides seek to broaden their cooperation in trade and investment, Seoul's industry ministry said. The latest round of talks for the EPA is set to run for four days in Bangkok, according to the Ministry of Trade, Industry and Energy. The two sides plan to focus on making progress in 13 sectors that cover goods, services and investment, as well as sustainable development, it added. An EPA aims to establish a mutually beneficial trade network between partner nations beyond a simple market opening, though it covers a smaller scope compared with a traditional free trade agreement. "We will work to swiftly strike an EPA with Thailand, the second-biggest economy among the Association of east Asian Nations (ASEAN) and a prominent market, to expand cooperation on a variety of economic issues," Roh Keon-ki, deputy minister for trade negotiations at the ministry, said. "Bilateral trade agreements serve as a strong safety net for our exports amid the fast cApr 22, 2025By Yonhap
KHNP chief stresses Korea-US nonproliferation cooperation amid 'aggressive' nuclear exports by China, RussiaThe head of Korea's state-run nuclear energy firm underscored the need Monday for Korea and the United States to work together to reinforce the global nonproliferation regime in the face of "aggressive" nuclear exports from China and Russia. Whang Joo-ho, president and CEO of the Korea Hydro & Nuclear Power (KHNP) Co., made the remarks, voicing hope that "Team Nuclear KORUS" can achieve the allies' common vision of "atoms for peace." KORUS is short for Korea and the United States. "In regions like the Middle East, east Asia and Africa, we are seeing aggressive nuclear exports from China and Russia. Indeed, I have concerns about whether these countries are making sufficient efforts to uphold the nonproliferation regime," Whang said at a forum hosted by the Washington-based Carnegie Endowment for International Peace. "To address this, the global community must come together to strengthen nonproliferation and nuclear security," he added. In nonproliferation endeavors, Korea can play a key role as a "model" nonnuclear weapon state, Whang said, noting that no single country can tackle the issApr 22, 2025By Yonhap
Trump mourns Pope Francis' passing, orders national flag to be flown at half-staffU.S. President Donald Trump mourned the death of Pope Francis on Monday, ordering America's national flag to be flown at half-staff and announcing a plan to attend the pontiff's funeral together with first lady Melania Trump. The bishop of Rome died on Easter Monday at the age of 88 at his residence in the Vatican's Casa Santa Marta, the Vatican announced. "I just signed an executive order putting the flags of our country — all of them, all federal flags and state flags -- at half mast in honor of Pope Francis," Trump said during the White House Easter Egg Roll, a traditional game played with eggs at Easter. "He was a good man, worked hard. He loved the world, and it's an honor to do that," he added. Under the executive order, the U.S. flag is to be flown at half-staff at the White House and on all public buildings and grounds, at all military posts and on all naval vessels until sunset, on the day of interment, Trump wrote on Truth Social. He also directed the flag to be flown at half-staff for the same length of time at all U.S. embassies, legations, consular offices and other facilitApr 22, 2025By Yonhap
S. Korean tourist killed in robbery in PhilippinesA South Korean national visiting the Philippines has been fatally shot by a robber in the city of Angeles, according to officials Monday. The South Korean tourist was attacked by an assailant on a motorcycle on Sunday afternoon and was fatally shot while resisting. The person was transferred to a hospital but later pronounced dead. South Korea's foreign ministry has urged local police authorities to conduct a swift investigation into the case. Angeles, a popular tourist destination in Central Luzon, north of Manila, has seen a rise in crimes targeting South Koreans in recent years. In May last year, a South Korean man in his 60s was killed during a pickpocketing incident in the city. In August, a South Korean man in his 40s was injured after being attacked by two armed robbers. In October 2016, a South Korean businessman was kidnapped by a group of local police officers in Angeles and later killed — a case that sparked a diplomatic dispute between South Korea and the Philippines. The South Korean Embassy in the Philippines has urged its nationals to take extra caution when traveling in tApr 21, 2025By Yonhap
Korea's official development aid rises 24.8% in 2024Korea's official development assistance (ODA) to underdeveloped countries rose 24.8 percent last year to reach $3.94 billion, the government said Thursday. Citing preliminary data from the Development Assistance Committee (DAC) of the Organization for Economic Cooperation and Development (OECD), the government said Korea increased its aid by $780 million from 2023. As a proportion of the gross national income, the country's aid reached 0.21 percent, the highest rate since Korea joined the DAC in 2010, according to the Office for Government Policy Coordination. The difference was largely attributable to a 37 percent increase in bilateral aid to $3.18 billion, which consisted of $2.22 billion in grants and $960 million in concessional loans. Multilateral aid came to $760 million. Of the 32 DAC member states, Korea ranked 13th in terms of total ODA, up one notch from 2023. The government said it has earmarked 6.5 trillion won for ODA this year, up 3.8 percent from 2024, to demonstrate its commitment to becoming a top 10 donor nation.Apr 17, 2025By Yonhap
