Seoul, March 24 (IANS) South Korea President Lee Jae Myung on Tuesday called on the government to preemptively implement an emergency response system to cope with concerns about the supply of oil and gas, as the US-Israeli war with Iran has dragged on and disruptions of global energy markets have continued.Speaking at a Cabinet meeting, Lee also asked for the swift passage of an extra budget to help small and medium-sized firms and vulnerable households hit by a surge in energy prices.”Petrochem…
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Seoul, March 22 (IANS) Customers will soon be able to check key information of batteries when purchasing an electric vehicle (EV), such as the manufacturer and country of origin, the transport ministry said on Sunday.The Ministry of Land, Infrastructure and Transport said such revisions will be included in proposed amendments to two related laws, including the enforcement rules of the Motor Vehicle Management Act, reports Yonhap news agency.Under the proposed revision, the number of EV battery-r…
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 12 (IANS) South Korea’s National Assembly on Thursday passed a special bill on South Korea’s USD350 billion investment pledge to the United States under a trade deal between the two nations, around three months after it was first introduced by the ruling party. The bill was approved during a plenary session of the Assembly with support from both the ruling Democratic Party (DP) and the main opposition People Power Party (PPP).Shortly after the bill was passed, South Korean President…
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/New Delhi, March 10 (IANS) External Affairs Minister (EAM) S Jaishankar held a telephonic conversation with his South Korean counterpart Cho Hyun on Tuesday, discussing bilateral ties and the current situation in West Asia. During the telephonic conversation, Cho noted that the two summits held last year, marking the 10th anniversary of the Korea-India Special Strategic Partnership, had forged a special bond between the two leaders. He also called for this year’s summit-level exchanges to …
Seoul, March 10 (IANS) South Korean President Lee Jae Myung said Tuesday that a potential relocation of military assets owned by the US military stationed in South Korea will not affect the deterrence posture against North Korea.Citing media reports that the US Forces Korea (USFK) might have recently shipped out some weapons, including an anti-missile defence system, Lee told a Cabinet meeting, “If you ask if our deterrence strategy against North Korea is severely affected (because of a possible…
Seoul, March 8 (IANS) Industry Minister Kim Jung-kwan said on Sunday he has been told the United States is not likely to hike tariffs on South Korea if the National Assembly passes a special bill on Seoul’s $350 billion investment pledge to the US.Kim made the remarks upon arrival after visiting the U.S. to meet with Commerce Secretary Howard Lutnick to discuss tariff and bilateral trade issues following U.S. President Donald Trump’s threat in January to hike “reciprocal” tariffs and other dutie…
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 7 (IANS) South Korea’s industry minister and trade chief visited the United States this week to coordinate responses to tariff issues and other pending trade matters between Seoul and Washington, the industry ministry said on Saturday.Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met separately with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Friday (U.S. time) to discuss pending bilateral trade issues.The visit was arrange…