GlobalEconomic GlobalEdition

May 22, 2022

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US President Biden considering DMZ visit when traveling to Korea

2022.05.18 09:34

The U.S. president Joe Biden is expected to focus on the economic and security issues during his visit to South Korea on May 20-22 to attend the Korea-US Summit.In addition to the Korea-US Summit to be held at Yongsan Presidential Office on May 21, Biden could also visit Camp Humphreys, a U.S. army garrison in Pyeongtaek, and nearby Samsung’s semiconductor plant in there. The Biden administration is focusing high-tech industry supply chains, including semiconductors, on its allies, and South Korea is one of the major partners. The former U.S. President Donald Trump, who visited Korea in July
Yoon meets foreign envoys from his first day, Xi Jinping invites Yoon to visit China

2022.05.12 09:39

President Yoon Seok-yeol started his first day in office on the 10th. Yoon met with foreign envoys from Japan, China, UAE, and Singapore at Yongsan Presidential Office. Other countries also invited Yoon to visit. In the afternoon, Yoon met Douglas Emhoff, the second gentleman of the U.S. who visited Korea as a representative of the U.S. delegation, at Yongsan Presidential Office. Emhoff is the first guest Yoon met at the presidential office. “The 70-year Korea-U.S. alliance is a key pillar of peace and prosperity in Northeast Asia.” President Yoon said. “Korea achieved industrialization and
President-elect Yoon to hold talk with foreign officials after inauguration

2022.05.10 09:30

President-elect Yoon Suk-yeol will have talks with foreign officials after his inauguration on the 10th. Yoon will meet with diplomatic envoys from various countries who have visited Korea as a congratulatory delegation. In particular, amid growing tension over North’s provocations such as the lunch of submarine-launched ballistic missile (SLBM), the new government’s diplomacy with major four powers, including the U.S., China, Japan, and Russia, have become important. After the inauguration ceremony, Yoon will meet with Douglas M. Hope, the U.S. Second Gentleman, China’s Vice President Wang
S. Korea protests Japan’s continued Dokdo claim in annual policy report

2022.04.25 09:38

The South Korean government officially lodged a protest with Japan against Japan, continued claim over Dokdo in 2022 Diplomatic Bluebook, an annual policy report released on the 22nd.South Korea’ foreign ministry immediately issued an official statement to deliver message to protest against Japan. In the statement, Choi Young-sam, foreign ministry spokesman, said, “We strongly protest against repeated Japan’s sovereignty claim over Dokdo, an integral part of Korean territory historically, geographically, and under international law. We urge Japan to immediately retract the unjust claim.”“
Economic security experts join President-elect Yoon’s delegation for S. Korea-US policy consultations

2022.03.30 09:31

Experts related to China, Japan, economic security, and South Korea-U.S. joint drill have joined President-elect Yoon Suk-yeol’s delegation for South Korea-US policy consultation.According to Yoon’s team on the 29th, Rep. Park Jin of people power party (PPP) will led the delegation. Park earned a master’s degree in administration at Harvard University’s Kennedy School, and served as chairman of the 18th National Assembly’s Foreign Affairs and Trade Unification Committee. Park previously had a talkg with current U.S. President Joe Biden in August 2008, when he visited the U.S. to attend th
President-elect Yoon expected to scrap nuclear phase-out policy

2022.03.11 10:40

As Yoon Suk-yeol of the main opposition People Power Party won the race for 20th presidential election on the 10th, the current policies such as de-nuclearization are expected to change.This is because one of Yoon’s main pledges is to cancel the current government’s de-nuclearization policy and grow Korea into a nuclear power plant powerhouse.The one-line pledge of “Return to nuclear power generation, become the strongest nuclear power plant powerhouse” posted on the Yoon’s Facebook shows a clear direction of the new government’s future nuclear power plant policy. In particular, Yoon’s
Shinsegae Chung Yong-jin’s anti-communist slogan triggers boycott

2022.01.12 09:28

Boycott for Starbucks has emerged at the beginning of the year. On various online communities and social network services (SNS), a poster featuring ‘Boycott for Chung Yong-jin, Not go, Not Buy’ is being shared.This boycott was triggered by Shinsegae Group Vice Chairman Chung Yong-jin’s ‘anti-communist’ post on his social media. Vice Chairman Chung’s post on his Instagram has been under fire, and stock prices of Shinsegae Group’s affiliates have also plunged. There are also some opinions that Starbucks, which accounts for 55% of total operating profit of Emart, where Vice Chairman Chung
S. Korea to pardon former president Park Geun-hye

2021.12.27 09:48

President Moon Jae-in has pardoned ex-president Park Geun-hye on the 24th.According to the political circle, ex-president Park has been included to grant a special pardon. Park, who is currently undergoing inpatient treatment at Seoul Samsung Hospital, is expected to be released from the hospital after pardoning.An official from the government said in a telephone interview with News1, “As former President Park was imprisoned before President Moon’s inauguration, this has been a big political burden. In addition, the pardon was reviewed in consideration of former President Park’s health prob
Ex-president Chun Doo-hwan dies without any apology for 5.18 military crimes

2021.11.24 09:33

Former 11th and 12th president of Korea Chun Doo-hwan died at 90 on the 23rd.Chun, who had chronic diseases such as being diagnosed with blood cancer in August, died at 8:40 a.m. at his home in Yeonhui-dong, Seodaemun-gu, Seoul.Ex-president Chun reportedly collapsed at his home and was reported to police and fire station at 8:55 a.m. The police confirmed his death at 9:12 a.m.The funeral is expected to be held at the funeral hall of Sinchon Severance Hospital.It has been 28 days after the death of former President Roh Tae-woo, who played a crucial role in the 12.12 military coup with Chun. Chu

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Industry Ministry says S. Korea’s joining in IPEF is to resolve supply chain issues

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