Reuters - South Korean President Lee Myung-bak warned that a failure by G20 economies to find a solution soon to disputes about foreign exchange policy could cause significant problems for the world economy.
South Korea declined to comment Wednesday on revelations that the United States talked it down from launching a retaliatory air strike on North Korea in 2010. The claims were made in the newly published memoir of former US defense secretary Robert Gates, in which he also describes former South Korean president Roh Moo-Hyun as "probably a little bit crazy".
SEOUL, Korea, Republic Of — Late North Korean leader Kim Jong Il repeatedly pushed for summit talks with South Korea before his 2011 death but the plans failed because Pyongyang demanded $10 billion and large-scale shipments of food and fertilizer, a former South Korean president says in a memoir to be published next week.
SEOUL — South Korean prosecutors raided Korea National Oil Corp (KNOC) and the local office of Bank of America Merrill Lynch on Tuesday in a probe over the state oil firm’s 2009 acquisition of a Canadian refiner, two people familiar with the matter said.
South Korean authorities have been investigating loss-making overseas energy investments by state-run companies during the government of the country’s previous president, Lee Myung-bak.
SEOUL, South Korea — South Korea’s prime minister has offered to resign amid a bribery scandal just two months after he took up the country’s No. 2 post, officials said Tuesday, in the latest political crisis to hit President Park Geun-hye.
Lee Wan Koo has been at the center of a corruption scandal that flared after a businessman killed himself earlier this month, leaving a memo listing the names of eight high-profile figures he claimed to have bribed. Most of the eight men, including Lee, are considered as close associates of Park.
ETF Database submits: South Korea is home to one of the world’s most unique and promising economies, thriving off of its status as a tech leader as well as proximity and strong relationships with many of Asia’s rapidly-expanding emerging markets. But constantly looming over South Korea is the unstable relationship with its neighbor to the north, one of the world’s most closed and volatile regimes in North Korea.
G20 leaders will fail to agree detailed guidelines on shrinking the world's trade imbalances when they meet this week in Seoul, South Korean President Lee Myung-Bak was quoted Tuesday as saying.It will "take months" to agree specific guidelines, Lee said in an interview in the run-up to the summit this Thursday and Friday.Disputes over currency and lopsided trade are set to dominate discussions between leaders of the Group of 20 advanced and emerging economies.