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…
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Seoul, March 12 (IANS) South Korean President Lee Jae Myung on Thursday instructed his aides to swiftly prepare for an extra budget to help stabilise people’s livelihoods and promote an economic recovery as the nation’s economy is bracing for an impact from an intensifying war in the Middle East. Lee made the call during a meeting with senior presidential aides, expressing concerns that heightening instability in the Middle East could weaken consumer and investment sentiment.”We also need to swi…
Seoul, March 12 (IANS) South Korean Prime Minister Kim Min-seok is set to depart for the United States on Thursday to promote South Korea’s bid to host a UN hub and meet with senior US officials, possibly including Vice President JD Vance.Kim’s weeklong trip, which will also take him to Geneva, Switzerland, comes as the government is bidding to host the tentatively named “UN AI hub,” an initiative aimed at bringing together UN bodies, and South Korea’s private and public sectors to produce AI-ba…
Seoul, March 12 (IANS) A set of judicial reform laws were officially proclaimed on Thursday, allowing constitutional appeals of South Korea’s Supreme Court rulings, punishment for judges who intentionally distort legal principles and an expansion of the top court.The reforms marked the first major overhaul of the current judiciary system since a constitutional amendment in 1987.The National Assembly, controlled by the ruling Democratic Party, passed the bills last month in a push for judiciary r…
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 7 (IANS) South Korea’s Gender Equality Minister Won Min-kyong issued on Saturday an apology to former sex workers whose rights were violated in now-defunct brothels built around American military bases, marking the government’s first official apology.”As the gender minister dealing with gender equality and women’s rights, I offer my sincere apologies to the victims for the state’s actions that violated their human rights at the Gijichon,” Won said in a message marking International …
Seoul, Feb 25 (IANS) A special counsel team said Wednesday it has appealed a court’s recent life sentence for former South Korean President Yoon Suk Yeol over his insurrection conviction. The special counsel, led by Cho Eun-suk, said the appeal was filed due to “factual errors, legal misunderstandings and inappropriate sentencing.”Last week, a Seoul court sentenced Yoon to life in prison for leading an insurrection when he briefly imposed martial law on December 3, 2024, Yonhap News Agency repor…
Gwacheon, Feb 25 (IANS) A new special counsel team officially launched on Wednesday to investigate remaining suspicions surrounding ousted former South Korean President Yoon Suk Yeol, his failed martial law bid and allegations involving his wife.Special counsel Kwon Chang-young has been tasked with reopening investigations into insurrection charges stemming from Yoon’s failed martial law bid, along with corruption allegations tied to former first lady Kim Keon Hee and the 2023 death of a Marine….
Seoul, Feb 24 (IANS) The South Korean government has revised bills on the establishment of two bodies set to replace the prosecution following criticism they were designed to be little different from the current prosecution service, a task force said Tuesday. The so-called serious crimes investigation agency and the indictment agency are set to be established in October under a government reorganisation bill that passed the National Assembly last September, Yonhap News Agency reported. The two b…
Seoul, Feb 24 (IANS) South Korea’s business sentiment turned positive for March, marking the first rebound in four years, due to the country’s robust exports of chips and automobiles, a poll showed on Tuesday.The business survey index (BSI) of the country’s top 600 companies by sales stood at 102.7 for next month, according to the monthly poll by the Federation of Korean Industries (FKI), reports Yonhap news agency.A reading below 100 means pessimists outnumber optimists, while a figure above th…