Seoul, May 11 (IANS) India can serve as a prominent manufacturing and export hub for South Korea amid recent shifts in global supply chains, local experts said on Monday, as Seoul is pushing to deepen its economic ties with the world’s most populous nation.In a meeting with Industry Minister Kim Jung-kwan, experts at major economic research institutes and trade agencies here made the assessment, calling for a detailed strategy to help Korean companies expand their footprint in the Indian market,…
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Seoul, May 9 (IANS) Two Chinese fishing boats were seized near the border island of Baengnyeong in the Yellow Sea on suspicion of illegal fishing in South Korean waters, the country’s Coast Guard said Saturday.The two boats fished illegally after crossing the Northern Limit Line, the de facto maritime border between South and North Korea, three kilometres into South Korean waters, around 8 pm Friday and were caught 14.8 km northwest of the island, according to the Coast Guard.One of the sailors …
Seoul, May 5 (IANS) Samsung Electronics’ board chairman on Tuesday expressed concerns over the potential economic impact of a planned general strike by unionized workers and called for the dispute to be resolved through dialogue, the company said.”As chairman of the board, I feel a deep sense of responsibility for the current situation and apologize for causing concern,” Chairman Shin Je-yoon said in a message posted on the company’s intranet.He warned that both management and labor could lose…
Seoul, May 2 (IANS) A progressive civic group held a protest rally outside the US Embassy in Seoul on Saturday, chanting slogans accusing the United States of interfering in South Korea’s domestic affairs.An estimated 500 protesters, according to police, gathered outside the US Embassy compound in central Gwanghwamun, holding placards condemning the US for undermining South Korea’s sovereignty and interfering in its domestic affairs by requesting that Seoul lift an exit ban on Bang Si-hyuk, chai…
Seoul, April 28 (IANS) Issues between close allies should be resolved based on mutual respect and fundamental principles, South Korea’s President Lee Jae Myung said Tuesday. Lee made the remarks during a Cabinet meeting at Cheong Wa Dae, stressing that “cooperation with traditional allies should also be developed.””(We) need the wisdom to build healthy, future-oriented relations with traditional allies, while resolving pending issues based on mutual respect, common sense and principles,” he told…
Seoul, April 27 (IANS) President Lee Jae Myung on Monday met with Demis Hassabis, co-founder and CEO of Google DeepMind, to discuss cooperation on the responsible use of artificial intelligence (AI) and global partnerships.Lee highlighted the government’s strong interest in AI and plans to ramp up investment during the meeting, as Hassabis was in South Korea for talks on expanding collaboration, including on a government-led initiative to advance AI-driven science and technology, reports Yonhap …
New Delhi/Hanoi, April 24 (IANS) President Lee Jae Myung’s state visits to India and Vietnam this week highlighted South Korea’s growing focus on securing energy supplies and strengthening raw material supply chains as global markets face mounting uncertainty from the conflict in the Middle East.Lee wrapped up the six-day trip Friday after holding summits aimed at deepening economic and strategic cooperation with the leaders of the two fast-growing economies, seen as critical to Seoul’s efforts …
Seoul, April 23 (IANS) A timeline for the handover of wartime operational control (OPCON) to South Korea from the United States will be set in this year’s annual ministerial meeting and proposed to the leaders of the two countries, Seoul’s defence ministry said on Thursday. The remarks by a ministry official came after US Forces Korea (USFK) commander Gen. Xavier Brunson said the allies aim to meet conditions required for the envisioned OPCON transfer no later than the first quarter of 2029.”Bas…
New Delhi, April 21 (IANS) India and South Korea have signed a Memorandum of Understanding to bolster cooperation in the Micro, Small, and Medium Enterprises sector as part of efforts to strengthen bilateral economic ties during President Lee Jae Myung’s visit to India. The Memorandum of Understanding was signed between India’s Ministry of Micro, Small, and Medium Enterprises and South Korea’s Ministry of SMEs and Startups, according to an official statement issued on Tuesday.The Memor…
New Delhi, April 20 (IANS) Prime Minister Narendra Modi said on Monday that India and South Korea share a common outlook for the Indo-Pacific and will continue to contribute towards a peaceful, progressive, and inclusive region, adding that both nations convey a message of peace and stability amid global tensions. Addressing a joint press meet with South Korean President Lee Jae Myung following their talks here, PM Modi stated that India and South Korea agree that reform of global institutions i…