Seoul, April 9 (IANS) South Korean President Lee Jae Myung said Thursday it is time for the nation to fundamentally change its economic system, as rising oil prices and inflationary pressures from the war in the Middle East have dampened prospects of an economic recovery.However, Lee urged officials to embrace such grave economic conditions as an opportunity to improve the nation’s economic system as he presided over his first plenary meeting of the National Economic Advisory Council (NEAC) to d…
Latest Cheong Wa Dae News & Updates
Seoul, April 3 (IANS) South Korean President Lee Jae Myung and French President Emmanuel Macron held summit talks on Friday, with discussions focused on strengthening cooperation in advanced technologies, energy and coordination on international issues.Macron attended an official welcoming ceremony held at Cheong Wa Dae marking his state visit, his first to South Korea since taking office in 2017.During the summit, the two countries plan to upgrade their “comprehensive partnership for the 21st c…
Seoul, March 29 (IANS) South Korean Prime Minister Kim Min-seok on Sunday vowed to take pre-emptive measures against possible shortages of daily necessities, as the Middle East crisis has disrupted global energy markets and driven up energy prices. “We are at a grave economic crossroads,” Kim said during an emergency economic headquarters meeting. “The aftermath of the Middle East conflict is emerging as a complex crisis for our economy, in the form of severe energy supply instability and global…
Seoul, March 23 (IANS) South Korean President Lee Jae Myung is set to host a governmentwide regular security meeting Monday to assess the nation’s security posture and response measures, Cheong Wa Dae said.The integrated security meeting, the first since he took office in June 2025, comes with the US-Israeli war against Iran entering its fourth week and appearing to move to another dangerous escalation as US President Donald Trump gave an ultimatum to Iran to reopen the Strait of Hormuz.The meet…
Seoul, March 19 (IANS) South Korean President Lee Jae Myung said Thursday importance should be attached to the likelihood of workers’ acceptance in adopting labor market flexibility, expressing objection to unilateral sacrifices by laborers when companies adjust workplace policies.Lee made the remarks during a debate session with the Economic, Social, and Labour Council, a tripartite presidential advisory body, alongside labor groups and government officials.”We need to create conditions in whic…
Seoul, March 11 (IANS) The deterrence posture against North Korea will not be hindered regardless of a potential shift of military assets owned by the US military stationed in South Korea, a senior official at Cheong Wa Dae said Wednesday, amid media reports that the US Forces Korea (USFK) has shipped out some of its air defense assets from the Korean Peninsula.”Given our level of military capability, defence spending, defence industry capacity and the high morale of our troops, there is no prob…
Seoul, March 8 (IANS) Unionised workers at Samsung Electronics are set to begin a vote later this week on whether to launch a strike, industry sources said on Sunday, amid controversy after a union warned that employees who refuse to participate in the walkout could face disadvantages.The company’s three largest unions, which represent a combined estimated 89,000 of the tech giant’s roughly 130,000 employees, will hold the vote from Monday through March 18 on whether to stage a general strike fo…
Seoul, March 5 (IANS) South Korean President Lee Jae Myung ordered the government Thursday to swiftly execute a 100 trillion-won (US$68.3 billion) financial package to stabilise the capital markets amid the widening war in the Middle East.Lee gave the instruction during an extraordinary Cabinet meeting convened to discuss the situation following last weekend’s US-Israeli strikes on Iran, saying the escalating crisis has led to a serious deterioration of the global economic and security environme…
Seoul, March 4 (IANS) South Korean President Lee Jae Myung will preside over an extraordinary Cabinet meeting this week to discuss response measures to the mounting crisis in the Middle East shortly after returning from his Southeast Asia trip, Cheong Wa Dae said Wednesday.The extraordinary meeting, set for Thursday, will be attended by top officials from the finance and foreign ministries, as joint US-Israeli airstrikes on Iran have triggered military responses from countries across the region,…
Seoul, Feb 26 (IANS) South Korean President Lee Jae Myung on Thursday vowed to continue efforts to normalise relations with North Korea despite Pyongyang’s rejection of his dialogue overture, saying the two Koreas should move beyond past confrontation and pursue peace and stability. Lee reaffirmed his commitment to improving ties after North Korean leader Kim Jong-un dismissed dialogue with Seoul, describing the South’s overture as deceptive while appearing to leave the door open for talks with …