Seoul, April 28 (IANS) South Korea’s surveillance of North Korea has not been disrupted by US restrictions on intelligence sharing about the North following the unification minister’s disclosure of Pyongyang’s nuclear facility site in Kusong, a government source said Tuesday. The source acknowledged some “partial” restrictions on intelligence sharing from the US but said Seoul’s satellite assets have kept its intelligence gathering capabilities intact.According to the source, a military surveill…
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Seoul, April 26 (IANS) South Korean President Lee Jae Myung plans to host a luncheon meeting with lawmakers from minor parties and independent members of the National Assembly this week, Cheong Wa Dae said Sunday. The meeting will take place on Wednesday, with participants to include lawmakers from five non-negotiating parties, including the Rebuilding Korea Party and New Reform Party, as well as independents, according to presidential spokesperson Kang Yu-jung.The exact time and venue will be a…
Seoul, April 24 (IANS) A South Korean special counsel team on Friday demanded a 30-year prison term for former President Yoon Suk Yeol on charges of benefiting the enemy for allegedly ordering the dispatch of military drones over Pyongyang in 2024. The team, led by special counsel Cho Eun-suk, also requested the Seoul Central District Court to sentence former Defense Minister Kim Yong-hyun to 25 years in prison over the same allegation.Cho’s team believes the alleged dispatch in October 2024 was…
Seoul, April 23 (IANS) Hyundai Motor, South Korea’s top automaker, said on Thursday its first-quarter net profit dropped 23.6 percent on-year amid business environment headwinds involving U.S. tariffs and rising raw material costs.Net profit for the first three months of this year totalled 2.58 trillion won ($1.7 billion), down from 3.38 trillion won a year ago, the company said in a regulatory filing.Operating income for the January-March period fell 30.8 percent on-year to 2.51 trillion won, b…
Seoul, April 23 (IANS) Samsung SDS, the information technology (IT) service arm of Samsung Group, said on Thursday its first-quarter net profit fell nearly 60 per cent from a year earlier due to a one-off factor.Net profit for the January-March period came to 91.8 billion won (US$62.1 million), down 57.8 percent from 217.7 billion won a year earlier, reports Yonhap news agency.Its operating profit tumbled 70.8 percent on-year to 78.3 billion won and sales fell 3.9 percent to 3.35 trillion won.Th…
Seoul, April 23 (IANS) Despite the ongoing crisis in the Middle East, the South Korean economy posted its fastest quarterly growth in 5 and a half years in the first quarter, supported by solid exports amid a semiconductor upcycle and resilient domestic demand, central bank data showed on Thursday.The country’s real gross domestic product (GDP) — a key measure of economic growth — rose 1.7 per cent in the January-March period from three months earlier, according to the preliminary data from th…
Seoul, April 22 (IANS) Hyundai Motor, Kia and two other carmakers will voluntarily recall over half a million vehicles in South Korea to address defective components, the transport ministry here said on Wednesday.The four companies, which also include KG Mobility Corp. and Toyota Motor Korea, will recall a combined 532,144 units across 17 models, according to the ministry.Hyundai Motor will recall 239,683 units of four models, including the Santa Fe sport utility vehicle (SUV), over a seat belt …
New Delhi, April 21 (IANS) South Korean President Lee Jae Myung on Tuesday concluded his three-day State Visit to India and departed for Vietnam. Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal noted that President Lee’s visit to India delivered tangible outcomes in key areas and placed the bilateral partnership on a stronger footing, with a forward-looking agenda.”A productive visit concludes as President Lee Jae Myung of Republic of Korea departs from India. He was seen off by …
Seoul, April 20 (IANS) Outgoing Bank of Korea (BOK) Governor Rhee Chang-yong said on Monday that achieving economic stability and growth through monetary and fiscal policy alone has become increasingly difficult, calling for a broader role for the central bank in addressing long-term structural challenges.Rhee made the remarks during his farewell ceremony in Seoul, as he completed his four-year term. His successor, Governor-designate Shin Hyun-song, is set to begin his term Tuesday as his nomina…
New Delhi, April 20 (IANS) President Lee Jae Myung stressed the need for South Korea and India to work together to ensure safe passage through the Strait of Hormuz in an interview published on Monday, also highlighting the need for joint efforts to stabilise global supply chains.In a written interview with The Times of India, held before his summit talks with Indian Prime Minister Narendra Modi, he noted that the effective closure of the critical shipping route due to the prolonged conflict betw…