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.
South Korea said Wednesday it expects China to cooperate on easing global economic imbalances and other contentious issues at next week's G20 summit in Seoul.Beijing knows "balanced global growth is beneficial to all countries. I'm positive that China will be cooperative in handling various issues at the G20 summit," President Lee Myung-Bak told a press conference.Lee said earlier this week he is hopeful of resolving vexed trade and currency disputes at the November 11-12 Group of 20 summit, which follows a meeting last month of the grouping's finance ministers.
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.
Today Secretary Gary Locke and the congressional delegation concluded
their three-day trip to Seoul with a visit to the Demilitarized Zone – the
border between South and North Korea – and a lunch with U.S troops and their
families at Yongsan Garrison to thank them for their service. The group also
met with leaders of South Korea’s Democratic Party and Grand National Party at
Korea’s National Assembly to discuss the U.S.-South Korea Trade Agreement
“Over the last few days we have had the
opportunity to see first-hand the benefits that KORUS will bring to the
economies of both the U.S. and Korea,” Locke said. “There is great demand for
U.S. products -- from made-in-America cell phone components to life-saving
medical equipment. This agreement will increase mutually beneficial trade,
strengthen our economies and create jobs in both of our countries.”
Locke also visited Seoul National University Hospital for a
demonstration of Varian Medical Systems’ (Palo Alto, Calif.) advanced
radiotherapy technology. Varian is the world leader in this life-saving,
cancer treatment technology with approximately $34 million worth of annual
sales to South Korea. Their equipment is manufactured in California and
Utah and exported globally. Under the U.S.-South Korea trade agreement, the
tariff on Varian’s products would be eliminated, making the company more
competitive in the Korean market.