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.
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 — 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, 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 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.