logo
S. Korea to soon repatriate 6 N. Koreans rescued at sea: source

S. Korea to soon repatriate 6 N. Koreans rescued at sea: source

Korea Herald3 days ago
The South Korean government has decided to soon repatriate six North Koreans, rescued from the southern side of the inter-Korean maritime border, via a sea route, a government source said Monday.
"President (Lee Jae Myung) has ordered a swift and safe repatriation because the matter of stranded people is a humanitarian issue," the high-ranking government official said on condition of anonymity, suggesting that the repatriation will take place in the near future.
In May, South Korea rescued four North Koreans aboard a ship who had drifted into the South Korean side of the East Sea, following a similar case in March in which two North Koreans were rescued in the Yellow Sea. All of them have expressed a wish to go back to the North.
The repatriation plan comes as North Korea remains unresponsive to Seoul's repeated calls, made through the US-led UN Command (UNC) and the news media, to arrange the North Koreans' return, with inter-Korean communication channels still severed amid strained ties.
Regardless of whether the North responds, the South Korean government is expected to carry out the repatriation as early as this week, depending on weather conditions.
The government reportedly considered the sea route for the repatriation, as using the land route through the inter-Korean border village of Panmunjom would require the supervision of the UNC, which is negative about unilateral repatriation.
The government may place them back on the wooden boats they were rescued in and send them across the Northern Limit Line, the de facto maritime boundary, as it did in 2017.
In May 2017, while communication lines between the two Koreas were suspended, South Korea unilaterally repatriated six fishermen rescued on the South Korean side of the sea, after repairing their boat and boarding them on it.
While confirming the planned repatriation, presidential spokesperson Kang Yu-jung said Lee had remarked it would be desirable to respect the wishes of the stranded North Koreans if related circumstances revealed no issues.
"If they simply drifted across the Military Demarcation Line and wish to return to their hometown, where their families and livelihoods are, President Lee believes their wishes should be respected from a humanitarian perspective," Kang said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Morningstar says Korean stocks are emerging market's best bet for decade
Morningstar says Korean stocks are emerging market's best bet for decade

Korea Herald

timean hour ago

  • Korea Herald

Morningstar says Korean stocks are emerging market's best bet for decade

A fund manager at Morningstar Wealth is selling Chinese and Japanese equities to increase exposure to South Korea, which he's betting on to provide the best returns in both emerging and Asian markets over the next decade. Korea's key draws are technology stocks tied to the artificial intelligence boom and a newfound political will for corporate reforms, according to Mark Preskett, a London-based senior portfolio manager at the firm. He said he's betting on annual returns from Korean stocks of 11 percent-12 percent in dollar terms over the next 10 years. Preskett is unfazed by US President Donald Trump's announcement Monday of a 25 percent tariff on Korean imports, saying that his base case is for 'some kind of agreement to be signed by the two countries in the coming weeks.' He said that the lack of any escalation on existing tariffs on autos, and the exemption of electronics and pharmaceuticals, were also positives for his outlook on Korea. The benchmark Kospi index has climbed more than 30 percent this year, making it one of the world's top performers in 2025. Global funds poured about $3 billion into Korean equities in May and June around the election of President Lee Jae Myung, who has intensified efforts to improve corporate governance standards and raise equity valuations. 'Korea stands out at the top in terms of expected returns,' Preskett said in an interview in London. 'We see this as the beginning of a revaluation story.' The fund manager said he's encouraged by the government's drive to codify corporate governance reform with its 'Value-Up' program, while legal changes approved by parliament last week will help alleviate longstanding concerns about minority shareholder rights and the dominance of family-run chaebols. The more stable government since Lee's election, along with concerted steps to reduce the 'Korea discount' of the nation's stocks versus emerging-market peers, are making the market more attractive, particularly relative to China, Preskett said. Companies in Korea have a weighting of less than 11 percent in the benchmark MSCI Emerging-Market Index, compared with China's 26 percent. 'We see Korea has some of the same attractiveness from a valuation perspective, but the fundamentals are a little stronger,' he said. 'You don't have this overhang of the property sector, you don't have the sort of question marks around shareholder governance.' Among specific stocks, Preskett is positive on SK Hynix Inc. and Samsung Electronics Co. as makers of high-bandwidth memory chips that are crucial for AI. He also says they're undervalued, even with Samsung up by about 14 percent this year, and SK Hynix up 62 percent. Corporate reforms Risks remain for the market, even beyond tariffs, especially in terms of getting companies on board with the government's plans. 'Controlling shareholders may resist deeper reforms, particularly around capital management, and continue to suppress dividends under the guise of conservatism or future M&A,' said Jonathan Pines, head of Asia ex-Japan at Federated Hermes. Recent market volatility is still fresh in investor's minds as well after the political turmoil around the previous president's declaration of martial law in December. With a further drag from Trump's tariffs, the Kospi slumped about 13% over two weeks into April. Still, Preskett sees the Korea story as a strong long-term investment theme, noting that the new government has pledged fiscal reforms that should also help the consumer and banking sectors. 'For us, it is the start of a journey,' he said. 'We feel that it's tip of the iceberg in terms of flows and potential revaluation.' (Bloomberg)

Lee set to preside over 1st NSC meeting since inauguration
Lee set to preside over 1st NSC meeting since inauguration

Korea Herald

time3 hours ago

  • Korea Herald

Lee set to preside over 1st NSC meeting since inauguration

President Lee Jae Myung will preside over his first meeting of the National Security Council on Thursday since he took office early last month, the presidential office said. Lee will be briefed about security issues during the planned NSC meeting, the office said in a statement. The NSC meeting comes just a day after National Security Adviser Wi Sung-lac returned from a four-day trip to the United States for discussions on trade negotiations and broader alliance issues in meetings with US Secretary of State Marco Rubio and other senior officials. US President Donald Trump has said Washington would impose 25 percent tariffs on South Korean goods from Aug. 1, which effectively extended the initial tariff deadline and allowed more time for negotiations. (Yonhap)

US think tank proposes slashing USFK troop level to about 10,000 from 28,500
US think tank proposes slashing USFK troop level to about 10,000 from 28,500

Korea Herald

time4 hours ago

  • Korea Herald

US think tank proposes slashing USFK troop level to about 10,000 from 28,500

A US think tank recommended a reduction of the US Forces Korea troop level to about 10,000 from the current 28,500 in a report released Wednesday, amid speculation that the Pentagon might weigh the idea of a troop drawdown on the Korean Peninsula to prioritize deterring Chinese threats. Defense Priorities, a Washington-based institution, released the report, titled "Aligning global military posture with US interests," saying that the US troop presence should be reduced even further if Seoul limits the US ability to use USFK assets to address other regional security crises outside the peninsula. The report was written by Jennifer Kavanagh, senior fellow and director of military analysis at the think tank, and Dan Caldwell, a former senior adviser to Defense Secretary Pete Hegseth. The think tank recommended cutting all ground combat units not tied to base security from South Korea, along with Army signal, intelligence, and headquarters units, and some of their associated support and sustainment units -- a reduction that would remove most of the 2nd Infantry Division from Korea, including the rotational brigade combat team and Army combat aviation units. It also said that the US should cut airpower based in Korea, moving two fighter squadrons from US bases in South Korea back to the US and that about a third of air maintenance and other support units and personnel can also be returned stateside. "In total, this would reduce the total US military presence in South Korea by more than 50 percent, leaving about 10,000 personnel along with two fighter squadrons (including a larger super squadron) and support forces," the report said. "The ground personnel left would be primarily for support, sustainment, logistics, and maintenance, leaving the responsibility for combat operations in the event of any crisis on the peninsula to South Korean forces." The think tank called for the troop reduction, arguing that Seoul has not offered the US "unrestricted contingency access" to use its bases for operations elsewhere in the theater during a conflict. "(US) forces left in South Korea might be sidelined in the event of a regional war," the report noted. In May, The Wall Street Journal reported that the US is weighing the idea of pulling out roughly 4,500 troops from South Korea and moving them to other locations in the Indo-Pacific, including Guam. The Pentagon dismissed the report as "not true," reaffirming that America remains "fully" committed to the defense of South Korea. Making the recommendation for a troop reduction, the authors said that the US military posture in East Asia should be realigned to focus on balancing Chinese power and protecting US interests, while calling for moving US forces away from the Chinese coast and shifting more frontline defense responsibilities to allies, including Japan and the Philippines. They also underscored the need to focus a US global military posture review on four priorities: defending the homeland, preventing the rise of a rival regional hegemon in key areas, burden shifting to allies and partners, and protecting US economic security. Kavanagh, one of the authors, told Yonhap News Agency that the report has been shared widely in Washington, and the authors hope to discuss it with Trump administration officials. Last month, Ambassador Matthew Whitaker, US permanent representative to the North Atlantic Treaty Organization, said that the US' global force posture review is expected to be completed in late summer or early fall. Under Secretary of Defense for Policy Elbridge Colby is expected to play a key role in reshaping the US force posture and missions. During an interview with Yonhap News Agency in May last year, Colby advocated for an adjustment of USFK's role to focus more on threats from China rather than "being held hostage" to countering North Korean challenges. He also stressed the need for South Korea to undertake "overwhelming" responsibility for its own defense, while saying that if the US gets heavily involved in a war with North Korea, it would be a "perfect distraction" when America should prioritize countering Chinese threats. (Yonhap)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store