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ANALYSIS Biden subsidies: double-edged sword for Korean firms

U.S. President Joe Biden attends an event at the White House, Washington, D.C., March 9, to support legislation to strengthen supply chains for computer chips. With Washington passing bills such as the CHIPS Act directed at China, the U.S. commitment to free trade is now in question. AP-YonhapSubsidies fuel global EV boom but LGES, Samsung, SK face overcapacity riskBy Kim Yoo-chulThe Biden administration's implementation of the CHIPS and Science Act (CHIPS Act) and Inflation Reduction Act (IRA) clearly represents Washington's strategy of pursuing a “manufacturing renaissance” in the world's largest economy. Growing concerns about China's meteoric growth in the electric vehicle (EV) battery and semiconductor industries helped policymakers in the U.S. stand together in reaching a bipartisan consensus to boost semiconductor and battery production on U.S. soil. The two legislative actions are to allow the U.S. to have a greater “profound effect” across backbone industries over the next decade at least and even beyond, security experts in Seoul and Washington told

May 22, 2023By Kim Yoo-chul

[ANALYSIS] Biden subsidies: double-edged sword for Korean firms

Yoon, Biden, Kishida put up unified stance against North Korea, China

President Yoon Suk Yeol, right, speaks with U.S. President Joe Biden, left, and Japanese Prime Minister Fumio Kishida ahead of their three-way talks in Hiroshima, Japan, Sunday, on the sidelines of the G7 Summit. Joint Press CorpsUS president invites leaders of S. Korea, Japan to Washington for talksBy Nam Hyun-wooHIROSHIMA, Japan ― President Yoon Suk Yeol, U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida agreed Sunday to upgrade their trilateral cooperation to a new level during a meeting held on the sidelines of the Group of Seven (G7) Summit in Hiroshima, Japan.The meeting, which took place briefly and did not generate practical deals and tangible outcomes, is widely seen as an attempt to show unity between the three allies to curb North Korea's nuclear threats and China's rise in the Indo-Pacific region. In an apparent bid to continue their discussions on how to contain North Korea's missile and nuclear threats and challenges in the Indo-Pacific region, Biden extended an invitation to his South Korean and Japanese counterparts for another trilateral meeting in W

May 21, 2023By Nam Hyun-woo

Yoon, Biden, Kishida put up unified stance against North Korea, China

Yoon lauds Kishida's visit to monument for Koreans as 'courageous act'

Zelenskyy at center of last day of high-level diplomacy as G7 looks to punish Russia

U.S. President Joe Biden, left, Japanese Prime Minister Fumio Kishida, second from left, Canadian Prime Minister Justin Trudeau, right, and French President Emmanuel Macron, second right, stand with Ukrainian President Volodymyr Zelenskyy as they pose for a photo before a working session on Ukraine during the G7 Summit in Hiroshima, Japan, Sunday, May 21. AP-YonhapWorld leaders ratcheted up pressure Sunday on Russia for its war against Ukraine, with Ukrainian President Volodymyr Zelenskyy at the center of a swirl of diplomacy on the final day of the Group of Seven summit of rich-world democracies.Zelenskyy's in-person attendance at one of the world's premier diplomatic gatherings is meant to galvanize attention on his nation's 15-month fight against Russia. Even before he landed Saturday on a French plane, the G7 nations had unveiled a slew of new sanctions and other measures meant to punish Moscow and hamper its war-fighting abilities.Ukraine is the overwhelming focus of the summit, but the leaders of Japan, the United States, the United Kingdom, France, Germany, Canada and Italy, a

May 21, 2023

Zelenskyy at center of last day of high-level diplomacy as G7 looks to punish Russia

S. Korea, India seek to bolster Indo-Pacific focused strategic partnership

President Yoon Suk Yeol listens as Indian Prime Minister Narendra Modi speaks during their summit at a hotel in Hiroshima, Japan, Saturday. YonhapBy Nam Hyun-wooHIROSHIMA, Japan ― President Yoon Suk Yeol and Indian Prime Minister Narendra Modi held a summit on the sidelines of the Group of Seven Summit in Hiroshima, Japan, Saturday, and agreed to develop the two countries' special strategic partnership, as well as aligning their strategies for the Indo-Pacific region. The summit was held on the occasion of the two countries celebrating the 50th anniversary of forming bilateral ties. Yoon expressed gratitude for the prime minister's appearance at the Second Summit for Democracy, which was co-hosted online by South Korea and the United States in March, and proposed South Korea and India jointly cope with regional and international challenges. Modi responded that the two countries should strengthen their strategic communication and cooperation. At the top of their agenda was bilateral economic cooperation in defense, digital technology, bio healthcare, space and other advanced technolog

May 20, 2023By Nam Hyun-woo

S. Korea, India seek to bolster Indo-Pacific focused strategic partnership

Yoon pledges $24 mil. to CEPI to help fight infectious diseases

Korea to send inspection team to Fukushima Sunday

Park Ku-yeon, left, the first deputy chief of the Office for Government Policy Coordination, speaks during a news conference at the Government Complex Seoul, Friday. At right is Yoo Guk-hee, chairperson of the Nuclear Safety and Security Commission who will lead a delegation to inspect the damaged Fukushima Daiichi Nuclear Power Plant. Korea Times photo by Shim Hyun-chulHead of Nuclear Safety and Security Commission to lead Seoul teamBy Jun Ji-hyeKorea will dispatch a 21-member delegation to Japan this Sunday to assess the neighboring country's plan to discharge treated radioactive water from the crippled Fukushima nuclear power plant, the government announced, Friday.The delegation, led by Yoo Guk-hee, who chairs the Nuclear Safety and Security Commission, will stay in Japan until May 26 to conduct on-site inspections at the plant and hold discussions with Japanese officials.Park Ku-yeon, the first deputy chief of the Office for Government Policy Coordination, announced the plans as the two countries reached a consensus on the details of the inspection after working-level talks.In A

May 19, 2023By Jun Ji-hye

Korea to send inspection team to Fukushima Sunday

Opposition lawmaker given suspended prison term; parliamentary seat at risk

Rep. Kim Kyung-hyup of the main opposition Democratic Party of Korea / YonhapRep. Kim Kyung-hyup of the main opposition Democratic Party of Korea was sentenced to a suspended prison term Friday on charges of making an unauthorized land purchase, a sentence heavy enough to remove him from parliament if finalized at the Supreme Court.The three-term lawmaker was indicted on charges of purchasing 668 square meters of land in a regional government-designated zone in Bucheon, just west of Seoul, where prior permission from the regional government is required for land transactions. Kim allegedly bought the land from former Labor Minister Lee Sang-soo in May 2020 for 500 million won ($376,732) without the mandatory permission. The land was selected as a site for a public development project, and 1.1 billion won was later offered to buy up the land. On Friday, the Incheon District Court's branch in Bucheon sentenced Kim to a six-month prison term, suspended for two years, while handing out a four-month prison term to the former labor minister, also suspended for two years.By law, a lawmaker g

May 19, 2023

Opposition lawmaker given suspended prison term; parliamentary seat at risk

Yoon's approval rating inches up for third straight week to 37%

President Yoon Suk Yeol speaks during a memorial ceremony at a national cemetery in the southwestern city of Gwangju to mark the 43rd anniversary of a pro-democracy uprising, May 18. YonhapPresident Yoon Suk Yeol's approval rating rose for the third straight week to 37 percent, a poll showed Friday.In the poll of 1,000 people aged 18 and older conducted by Gallup Korea Co. from Tuesday to Thursday, the positive assessment of Yoon's performance rose 2 percentage points from the previous week to 37 percent.The disapproval rating was 56 percent, down 3 percentage points from a week earlier.Yoon's handling of foreign policy was cited as the main reason for both the positive and negative assessments amid divided views of his state visit to the United States last month and his drive to restore frayed relations with Japan.Among those who expressed support for Yoon, 37 percent picked his handling of foreign affairs as the main reason, while 33 percent of those negative about the president's performance also chose foreign policy.Support for the ruling People Power Party (PPP) fell 3 percentag

May 19, 2023

Yoon's approval rating inches up for third straight week to 37%

Korea to send 21-member team to Japan for Fukushima inspection

Park Ku-yeon, the first deputy chief of the Office for Government Policy Coordination, speaks during a press briefing, May 19. YonhapA 21-member team of South Korean experts will make a six-day visit to Japan starting Sunday for an on-site inspection ahead of the planned release of radioactive water from the crippled Fukushima nuclear power plant into the ocean, the government said.The delegation, headed by the chief of the country's nuclear safety commission, will review the safety of the entire process of discharge and check Tokyo's capability in analyzing radioactive materials, according to the Office for Government Policy Coordination (OPC).The inspection visit was agreed upon in principle when President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida held a summit in Seoul earlier this month. South Koreans have been concerned about possible health and environmental hazards from the planned release of contaminated water.Diplomats from the two countries have since worked out details of the visit.Leading the team will be Nuclear Safety and Security Commission Chairperson Yo

May 19, 2023

Korea to send 21-member team to Japan for Fukushima inspection

Korea's Fukushima inspection in limbo

Yoon to meet with Korean atomic bomb victims in Hiroshima

President Yoon Suk Yeol, left, shakes hands with Japanese Prime Minister Fumio Kishida at the end of their joint news conference after their summit in Tokyo, March 16. YonhapPresident Yoon Suk Yeol will meet with a group of Korean victims of the 1945 Hiroshima atomic bombing during a visit to the city Friday, his office said.Yoon will be the first Korean president to have such a meeting, which demonstrates his commitment to "continuing to resolve historical issues while at the same time pursuing a better future for the two countries," presidential spokesperson Lee Do-woon said during a press briefing."This can be understood as symbolically demonstrating the commitment of Korea and Japan to not close the door on history, while opening the door to the future," he said.Yoon is set to visit Hiroshima on Friday for a Group of Seven summit and a series of meetings, including one with Japanese Prime Minister Fumio Kishida, and another with Kishida and U.S. President Joe Biden.During the three-day trip, Yoon and Kishida also plan to pay a joint visit to a cenotaph for Korean A-bomb victims a

May 19, 2023

Yoon to meet with Korean atomic bomb victims in Hiroshima

Lawmaker appears for questioning over DPK's election bribery scandal

Rep. Lee Sung-man speaks to reporters outside the Seoul Central District Prosecutors Office in southern Seoul, May 19. YonhapA lawmaker appeared before prosecutors for questioning Friday over his alleged involvement in a cash-for-vote campaign ahead of the 2021 leadership election of the main opposition Democratic Party of Korea (DPK).Rep. Lee Sung-man, now an independent as he left the DPK in early May after the scandal surfaced, arrived at the Seoul Central District Prosecutors Office in southern Seoul for questioning over the suspected distribution of "cash envelopes" to party members ahead of the election.The scandal centers on allegations that Song Yong-gil's campaign officials distributed cash totaling 94 million won ($70,475) to party members, including some 10-20 lawmakers, to help him get elected as party leader ahead of the party's national convention in May 2021. Song was ultimately elected party chairman at that time. Lee is accused of involvement in the alleged distribution of 9 million won of the total to the heads of the party's regional chapters. Prosecutors were expe

May 19, 2023

Politics

Politics

ANALYSIS Biden subsidies: double-edged sword for Korean firms

Yoon, Biden, Kishida put up unified stance against North Korea, China

Zelenskyy at center of last day of high-level diplomacy as G7 looks to punish Russia

S. Korea, India seek to bolster Indo-Pacific focused strategic partnership

Korea to send inspection team to Fukushima Sunday

Opposition lawmaker given suspended prison term; parliamentary seat at risk

Yoon's approval rating inches up for third straight week to 37%

Korea to send 21-member team to Japan for Fukushima inspection

Yoon to meet with Korean atomic bomb victims in Hiroshima

Lawmaker appears for questioning over DPK's election bribery scandal

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