Embassies express grief over devastating wildfires in South Korea
Foreign embassies in South Korea have expressed sorrow over the devastating wildfires ravaging the country's southeastern regions.
The disaster, one of the worst wildfire incidents in South Korea's history, had claimed 26 lives and injured 30 as of Thursday morning. Strong winds exacerbated the situation, forcing approximately 27,000 residents to evacuate.
"My heartfelt condolences go out to the victims and their families, and I extend my sympathies to those who have lost their homes and livelihoods. I also express my utmost respect for the rescue teams and all those tirelessly working on the front lines," German ambassador to South Korea Georg Wilfried Schmidt told The Korea Herald.
"I sincerely hope the wildfires will be extinguished soon," he added.
Acknowledging the loss of lives, the Indonesian Embassy in Seoul expressed heartfelt sympathies to the victims and their bereaved families during this difficult time. It also praised South Korea's swift evacuation efforts and assured the safety of Indonesian nationals.
Philippine Ambassador to Korea Maria Theresa B. Dizon-De Vega conveyed heartbreak over the loss of lives, urging the Filipino community to remain vigilant. "We hope they will succeed in their efforts to contain the fires and preserve lives, property and precious heritage sites," she said.
Chinese Ambassador to Korea Dai Bing relayed condolences from China's Ministry of Foreign Affairs, saying, "I extend my deepest condolences to the victims and express my heartfelt sympathy to the people of South Korea affected by the wildfires. I sincerely hope that the fires will be brought under control soon and that the affected areas will recover as quickly as possible."
Expressing solidarity with Korea, Egyptian Ambassador to Korea Khaled Abdel Rahman told The Korea Herald that Egyptians stand with the victims and their families and extend sympathy to those who have lost their homes.
He also conveyed deep respect for the firefighters, rescue teams and all those working tirelessly to contain the fire.
'We sincerely hope for a swift end to this tragedy and for the safety of everyone affected,' Rahman told The Korea Herald.
Sharing a press release with The Korea Herald, the Kenyan Embassy in Seoul expressed deep sympathies to South Korea, mourning the loss of lives and destruction of homes and cultural heritage sites.
"We are profoundly saddened by this unimaginable tragedy. Our thoughts are with the families of the victims, the injured, and all those displaced," the release read, commending the efforts of emergency responders and volunteers.
The Kazakh Embassy echoed similar sentiments, offering "deepest condolences to the families of the victims and those who suffered property losses."
The Singaporean Embassy acknowledged the heroism of firefighters and first responders, highlighted the Korean government's declaration of a state of national disaster, and urged Singaporeans in Korea to stay informed and follow safety guidelines.
The Tanzanian Embassy shared deep sorrow over the tragic loss of lives and damage caused by the ongoing wildfires in Gyeongsang Province and extended sympathies, affirming solidarity with the affected communities.
Several diplomatic missions told The Korea Herald that they were closely monitoring the situation and would issue statements of condolence and support for the ongoing relief efforts.
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Korea Herald
2 hours ago
- Korea Herald
[Editorial] Build confidence
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Korea Herald
11 hours ago
- Korea Herald
Korean battery-makers push President Lee for direct subsidies
Korean firms seek bolder funding as Chinese rivals leverage robust government backing South Korean battery manufacturers are urging President Lee Jae-myung to act as they face slowing electric vehicle demand and intensifying competition from Chinese rivals increasingly dominating global markets. On May 31, three days before the presidential election, Lee wrote in a Facebook post, 'I will recharge the South Korean economy with K-batteries,' underscoring his belief that the battery industry is key to driving Korea's next economic leap. Lee's pledges included strengthening research and development to secure cutting-edge technologies such as all-solid-state batteries; introducing domestic production tax incentives; creating a "battery triangle belt" connecting the Chungcheong, Yeongnam, and Honam regions; increasing battery demand through energy storage systems; and nurturing the battery recycling industry. Calls for IRA-style subsidies While industry insiders are optimistic about the domestic tax incentives, they anticipate a more direct form of financial support from the government. Lee's tax benefit pledge offers tax breaks for companies producing and selling battery products in Korea, similar to the US Advanced Manufacturing Production Credit under the Inflation Reduction Act. However, AMPC also includes options like 'cash refunds' and 'third-party transfers' in addition to tax benefits. 'If we could receive cash returns, we'd have more flexibility to expand investments in global markets — particularly in the US, where rising tariffs on automobiles and parts are already dragging down the EV market,' said an industry source on condition of anonymity. The source emphasized that additional support measures are needed, pointing out that unlike China, which offers subsidies from direct funding to state-led R&D programs, the Korean government has only granted corporate tax credits. Under the Act on Restriction on Special Cases Concerning Taxation, the battery industry is designated a national strategic technology, making it eligible for approximately 15 percent and 30 percent tax credits on facility investments and R&D, respectively. However, these credits apply only to companies that are generating taxable profits. In the first quarter, Korea's top three battery makers — LG Energy Solution, Samsung SDI, and SK On — all reported operating losses, even when factoring in benefits from AMPC. As a result, they are likely ineligible for domestic tax breaks, despite having collectively borrowed 49.6 trillion won ($36.5 billion) for large-scale investments both at home and abroad. Chinese surge Experts suggest that even with the battery sector's strategic importance, direct subsidies from the Korean government remain unlikely. 'Korea has traditionally been wary of direct funding due to the associated risks and concerns over misusing taxpayer money,' said Kim De-jong, a business professor at Sejong University. 'In contrast, while China provides massive subsidies, it often gains substantial control over the company's management and operations.' Kim added that more feasible alternatives to direct subsidies could include offering discounted rates on electricity and water for domestic production facilities. Meanwhile, Chinese battery giants CATL and BYD have strengthened their grip on the global EV market. According to SNE Research, CATL and BYD held market shares of 38.1 percent and 17.3 percent, respectively, as of the latest period, up from the previous year. LG Energy Solution ranked third but saw its share fall from 12.3 percent to 10.2 percent. SK On and Samsung SDI also experienced declines, with market shares dropping to 4.3 percent and 3.3 percent, respectively.
Korea Herald
16 hours ago
- Korea Herald
Battery makers push President Lee for direct subsidies
Korean firms seek bolder funding as Chinese rivals leverage robust government backing South Korean battery manufacturers are urging President Lee Jae-myung to act as they face slowing electric vehicle demand and intensifying competition from Chinese rivals increasingly dominating global markets. On May 31, three days before the presidential election, Lee wrote in a Facebook post, 'I will recharge the South Korean economy with K-batteries,' underscoring his belief that the battery industry is key to driving Korea's next economic leap. Lee's pledges included strengthening research and development to secure cutting-edge technologies such as all-solid-state batteries; introducing domestic production tax incentives; creating a "battery triangle belt" connecting the Chungcheong, Yeongnam, and Honam regions; increasing battery demand through energy storage systems; and nurturing the battery recycling industry. Calls for IRA-style subsidies While industry insiders are optimistic about the domestic tax incentives, they anticipate a more direct form of financial support from the government. Lee's tax benefit pledge offers tax breaks for companies producing and selling battery products in Korea, similar to the US Advanced Manufacturing Production Credit under the Inflation Reduction Act. However, AMPC also includes options like 'cash refunds' and 'third-party transfers' in addition to tax benefits. 'If we could receive cash returns, we'd have more flexibility to expand investments in global markets — particularly in the US, where rising tariffs on automobiles and parts are already dragging down the EV market,' said an industry source on condition of anonymity. The source emphasized that additional support measures are needed, pointing out that unlike China, which offers subsidies from direct funding to state-led R&D programs, the Korean government has only granted corporate tax credits. Under the Act on Restriction on Special Cases Concerning Taxation, the battery industry is designated a national strategic technology, making it eligible for approximately 15 percent and 30 percent tax credits on facility investments and R&D, respectively. However, these credits apply only to companies that are generating taxable profits. In the first quarter, Korea's top three battery makers — LG Energy Solution, Samsung SDI, and SK On — all reported operating losses, even when factoring in benefits from AMPC. As a result, they are likely ineligible for domestic tax breaks, despite having collectively borrowed 49.6 trillion won ($36.5 billion) for large-scale investments both at home and abroad. Chinese surge Experts suggest that even with the battery sector's strategic importance, direct subsidies from the Korean government remain unlikely. 'Korea has traditionally been wary of direct funding due to the associated risks and concerns over misusing taxpayer money,' said Kim De-jong, a business professor at Sejong University. 'In contrast, while China provides massive subsidies, it often gains substantial control over the company's management and operations.' Kim added that more feasible alternatives to direct subsidies could include offering discounted rates on electricity and water for domestic production facilities. Meanwhile, Chinese battery giants CATL and BYD have strengthened their grip on the global EV market. According to SNE Research, CATL and BYD held market shares of 38.1 percent and 17.3 percent, respectively, as of the latest period, up from the previous year. LG Energy Solution ranked third but saw its share fall from 12.3 percent to 10.2 percent. SK On and Samsung SDI also experienced declines, with market shares dropping to 4.3 percent and 3.3 percent, respectively.
