US will strike North Korea if South attacked with nukes, South's spy chief nominee says
SEOUL: South Korea's nominee for spy agency director said on Thursday (Jul 19) he believed the United States would strike North Korea with nuclear weapons if Pyongyang launched a nuclear attack against South Korea.
Lee Jong-seok made the comment during a nomination hearing in answer to a question if he believed Washington would strike the North and put Americans at risk from a country even if Pyongyang has deployed intercontinental ballistic missiles.
"Yes, that is my belief," Lee said, after saying the hypothetical scenario of South Korea coming under the North's nuclear attack is directly related to the security alliance between the two countries.
North Korea has for years pursued a nuclear programme and is believed to have stockpiled fissile materials to build atomic weapons although it has not tested a missile mounted with such a weapon.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
South Korea drafts second extra budget as new leader seeks to spur growth
SEOUL: South Korea's new administration proposed on Thursday (Jun 19) US$14.7 billion of extra government spending to support sluggish domestic demand, as President Lee Jae Myung makes economic recovery his top policy agenda. The supplementary budget plan totalling 30.5 trillion won announced by the finance ministry includes 20.2 trillion won (US$14.7 billion) of new spending to spur economic growth and support vulnerable sectors, while it will also make up for 10.3 trillion won from an expected shortfall in tax revenue. The second extra budget of the year comes two weeks after Lee, who has vowed expansionary fiscal policy, won a snap presidential election on Jun 3 and less than two months since the first supplementary budget of 13.8 trillion passed in May. "Economic conditions and difficulties in people's livelihoods are very serious, and this extra budget means government finances will play a little more active role," Vice Finance Minister Lim Ki-keun told a media briefing. South Korea's central bank last month slashed its economic growth forecast for this year to 0.8 per cent from 1.5 per cent, citing heightened uncertainty over US tariffs, as it lowered interest rates for a fourth time in its current easing cycle and signalled more rate cuts. Asia's fourth-largest economy unexpectedly contracted in the first quarter amid US President Donald Trump's sweeping tariffs and domestic political turmoil sparked by former President Yoon Suk Yeol's martial law decree in December. The biggest spending will be Lee's flagship policy of a universal cash handout scheme for consumers, providing 150,000-500,000 won in vouchers to every citizen and totalling 10.3 trillion won. Lee was one of the first to introduce a cash handout scheme in South Korea when he was mayor of Seongnam City, which was adopted nationwide several times during the COVID-19 pandemic under the previous liberal administration of Moon Jae-in, even as critics questioned the effectiveness of the policy. Other spending plans include financial support for the construction sector, investment in artificial intelligence as well as small and medium-sized enterprises, and debt restructuring programmes for small businesses. Out of the combined total of 30.5 trillion won, 19.8 trillion won will be financed by issuing additional treasury bonds, according to the finance ministry. The second extra budget will raise the country's fiscal deficit to 4.2 per cent of gross domestic product (GDP) this year, up from the previous estimate of 3.3 per cent after the first extra budget, and government debt to 49.0 per cent of GDP, from 48.4 per cent. The government will submit the proposal to parliament, controlled by the left-leaning ruling Democratic Party, on Jun 23.
CNA
4 hours ago
- CNA
Nippon Steel CEO sees no risk to management plans from US golden share
TOKYO :The U.S. government's ownership of a golden share in U.S. Steel will not block Nippon Steel from taking any management action that it deems appropriate, the Japanese steelmaker's CEO said on Thursday. Eiji Hashimoto spoke at a press conference in Tokyo a day after Japan's top steelmaker closed its $14.9 billion acquisition of U.S. Steel, confirming Nippon Steel had agreed to give the U.S. government unusual power to help end its 18-month battle to reach a deal. The national security agreement inked with the Trump administration hands the government a non-economic golden share and gives the president the authority to name a board member. "We won't be constrained in pursuing anything we aim to do," Hashimoto said, when asked how the golden share would influence management freedom. "We retain sufficient managerial freedom," he said, noting that the Japanese company accepted the U.S. government's desire to oversee the execution of the investment and proposed a golden share structure as a straightforward way to reflect it. The ultimate agreement with the U.S. government represents an unusual level of control conceded by the companies to save the deal, after a rocky path to approval spurred by high-level political opposition. "We struggled to complete this deal, but our global strategy is starting to take shape," Hashimoto said, adding that the company will consider further global expansion. The golden share gives the U.S. government a veto over a potential relocation of U.S. Steel's headquarters from Pittsburgh, a transfer of jobs overseas, a name change, and any potential future acquisition of a rival business. "We have spent 2 trillion yen ($14 billion) to acquire U.S. Steel ... We have no intention of relocating its headquarters or shifting production or jobs overseas," he said. The agreement inked with the administration also stipulates that Nippon Steel must make capital investments of about $11 billion in the U.S. by 2028. Hashimoto said he saw no issue with that requirement because the company intended to expand investments beyond its current plans. The Trump administration's policy shift towards imposing higher tariffs had increased the strategic importance of the U.S. Steel acquisition, he said. "This deal is not only a necessary and effective strategy to restore our company to the number one position globally, but also the only path for U.S. Steel to revitalize and grow,' Hashimoto told reporters. Nippon Steel will consider a capital raising among other options as it weighs how to fund its U.S. investment plans, Vice Chairman Takahiro Mori, the lead negotiator of the deal, said. "The increased leverage from acquisition debt remains a clear credit negative," Roman Schorr, senior analyst at Moody's Ratings, said in a report. "However, this is counterbalanced by the strategic benefits of expanding into the U.S. market, which enjoys tariff protection. U.S. Steel brings a strong asset base following recent investments, complementing Nippon Steel's portfolio," Schorr said, adding the company's investments and cost control would be closely watched. Nippon Steel shares rose 2.1 per cent by midday to 2,762 yen, outperforming the broader Nikkei 225 index, which fell 0.7 per cent. ($1 = 145.1700 yen)
CNA
5 hours ago
- CNA
US will strike North Korea if South attacked with nukes, South's spy chief nominee says
SEOUL: South Korea's nominee for spy agency director said on Thursday (Jul 19) he believed the United States would strike North Korea with nuclear weapons if Pyongyang launched a nuclear attack against South Korea. Lee Jong-seok made the comment during a nomination hearing in answer to a question if he believed Washington would strike the North and put Americans at risk from a country even if Pyongyang has deployed intercontinental ballistic missiles. "Yes, that is my belief," Lee said, after saying the hypothetical scenario of South Korea coming under the North's nuclear attack is directly related to the security alliance between the two countries. North Korea has for years pursued a nuclear programme and is believed to have stockpiled fissile materials to build atomic weapons although it has not tested a missile mounted with such a weapon.
