Seoul, July 19 (IANS) Thousands of global delegates gathered in Busan on Sunday as the UNESCO World Heritage Committee opened its annual session for the first time in the country with a ceremony attended by South Korean President Lee Jae Myung. Around 3,000 participants from 196 member states, international organisations and nongovernmental entities are expected to attend the 10-day meeting at the Busan Exhibition and Convention Center in the port city, some 330 kilometers southeast of Seoul, ac…
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Seoul, July 14 (IANS) South Korea detected 2.4 trillion won ($1.61 billion) worth of illegal foreign exchange transactions through May as the country stepped up surveillance against related crimes amid the volatility in the currency market, the finance ministry said on Tuesday.The Ministry of Finance and Economy announced the findings during a meeting with foreign exchange-related agencies amid growing concerns over illegal transactions following the Korean won’s recent slide against the U.S. do…
Auckland, July 10 (IANS) Prime Minister Narendra Modi on Friday thanked South Korean President Lee Jae-Myung for extending wishes for the progress and friendship of India and New Zealand. “Thank you President Lee Jae-Myung for your kind wishes. Such thoughtful messages from friends are always cherished,” PM Modi posted on X after arriving in New Zealand on the final leg of his three-nation tour.PM Modi’s statement came after South Korean President Lee Jae-Myung wrote on X, “Wishing for the frien…
Ulaanbaatar, July 9 (IANS) US President Donald Trump does not appear to rule out the possibility of having US military ships he asked South Korea to build constructed in the Northeast Asian country, a presidential official said on Thursday. The presidential official made the remarks at a press conference in Ulaanbaatar, where he was accompanying President Lee Jae Myung on a three-day state visit to Mongolia, in response to a reporter’s question about Trump’s recent request that South Korea build…
Seoul, July 3 (IANS) South Korea aims to establish a low-Earth orbit satellite communications network composed of hundreds of satellites by 2035 and accelerate the country’s first lunar landing to 2030, the state-run space agency said on Friday.The Korea AeroSpace Administration (KASA) unveiled the plan during a public briefing on advanced industry development held in the southeastern city of Jinju. The strategy was approved earlier in the day by the National Space Council, chaired by President …
Seoul, July 1 (IANS) South Korea’s defence ministry on Wednesday reviewed the progress of Seoul’s push to complete the verification of full operational capability (FOC) within this year, as it seeks to expedite the transfer of wartime operational control (OPCON) from Washington. The move comes as South Korea’s Defence Minister Ahn Gyu-back vowed to hold such meetings every quarter this year as part of efforts to complete the transition within South Korean President Lee Jae Myung’s five-year term…
Seoul, June 29 (IANS) South Korea on Monday unveiled an ambitious plan to build a new semiconductor manufacturing hub in the country’s southwestern region through 800 trillion won ($518 billion) in corporate investment.The proposed investment underscores Seoul’s determination to maintain its dominance in memory chips, which have become increasingly critical amid a global artificial intelligence (AI) boom, while advancing the government’s goal of more balanced regional development, reports Yonhap…
Seoul, June 29 (IANS) South Korean stocks traded sharply lower on late Monday morning as investors remained cautious amid renewed concerns over the fragile US-Iran ceasefire and rising oil prices, with tech shares leading losses.The benchmark Korea Composite Stock Price Index (KOSPI) lost 170.78 points, or 2.03 percent, to 8,240.43 as of 11:20 a.m., after opening 0.91 percent lower, reports Yonhap news agency.Oil prices climbed after the United States and Iran exchanged fresh strikes over the we…
Washington, June 25 (IANS) The United States is focused on ensuring that necessary conditions for the transfer of wartime operational control (OPCON) to South Korea will be met “as soon as possible,” a senior US diplomat said Thursday, noting it “understands” Seoul’s desire to retake OPCON quickly.Assistant Secretary of State for East Asian and Pacific Affairs Michael DeSombre made the remarks during a hearing of the Subcommittee on East Asia and Pacific Affairs under the House Foreign Affairs C…
Seoul, June 24 (IANS) External Affairs Minister (EAM) S Jaishankar held a meeting with South Korea’s National Security Director Wi Sung-lac on Wednesday. During the meeting, EAM Jaishankar and Wi Sung-lac shared their strategic assessments on global developments and the Indo-Pacific.”Glad to meet Wi Sung-lac, Director of National Security of the ROK this evening. Had a useful exchange of strategic assesments on global developments and the Indo-pacific,” EAM Jaishankar posted on X.Earlier in the …