South Korea's Lee tells Japan the countries should cooperate amid trade challenges, Yonhap reports
SEOUL (Reuters) -South Korean President Lee Jae Myung told Japanese Prime Minister Shigeru Ishiba on the sidelines of the G7 summit in Canada that the two nations need to cooperate in a future-oriented manner amid difficulties in the international trade environment, the Yonhap news agency reported.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
37 minutes ago
- Yahoo
BOK chief says he is not against won-based stablecoins but has forex concerns
By Cynthia Kim and Jihoon Lee SEOUL (Reuters) -South Korea's central bank governor said on Wednesday he was not against issuing won-denominated stablecoins but had concerns about managing capital flows. "Issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin. That in turn could increase demand for dollar stablecoin and make it difficult for us to manage forex," Rhee Chang-yong told a press conference in Seoul. Stablecoins, a type of cryptocurrency designed to maintain a constant value – typically pegged 1:1 to the U.S. dollar – are widely used by crypto traders to move funds between tokens, and are starting to be adopted by more and more companies. Regulators in many countries are skeptical about cryptocurrencies as they are seen as speculative and as competitors to national currencies. Rhee's comments come as South Korea's left-leaning President, Lee Jae Myung, is seen delivering on his election pledge to allow companies to issue won-based stablecoins. The ruling Democratic Party proposed earlier this month the Digital Asset Basic Act, designed to set up regulatory infrastructure needed to help local companies issue won-denominated stablecoins. President Lee appointed a former crypto firm chief, Kim Yong-beom, as his chief policy officer in his first week in office, further boosting speculation that the government would take action to allow issuance of stablecoins backed by the Korean won. Kim has previously served as vice chairman of the Financial Services Commission before becoming chief executive of Hashed Open Research, a think tank affiliated with crypto venture capital firm Hashed Ventures Inc. Governor Rhee has previously told reporters that allowing stablecoins to be issued by local companies, rather than the central bank, could significantly undermine the effectiveness of monetary policy and capital flow control.
New York Times
an hour ago
- New York Times
Jordan Klepper Calls Trump Out for His ‘Irish Exit' at G7
Welcome to Best of Late Night, a rundown of the previous night's highlights that lets you sleep — and lets us get paid to watch comedy. Here are the 50 best movies on Netflix right now. 'Stay Tuned' President Trump left the G7 summit in Canada a day earlier than planned, flying back to Washington to deal with the Iran-Israel conflict, according to the White House. On Tuesday's 'Daily Show,' Jordan Klepper called Trump out for his 'Irish exit.' 'Now, this is an important G7 for Trump, because he had to prove that he had the discipline and wherewithal to fix the global economy after he [expletive] up the global economy.' — JORDAN KLEPPER 'We all know what this is, right? You're at an event, you have to rush home because 'something came up'? Look, I get it — none of us like to poop in an unfamiliar place. Sometimes, when you have a big matchup coming up, you just need that home-field advantage.' — JORDAN KLEPPER 'After a few days with Trump, the Canadian prime minister was like, 'I hate to see you go, but I also hate to see you here.'' — JIMMY FALLON 'When French president Emmanuel Macron told the press that Trump left the G7 to work on a cease-fire, Trump attacked Macron, posting, 'He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a cease-fire. Much bigger than that. Stay tuned!' Much bigger than that? Not a cease-fire? Maybe not the most subtle messaging from the commander in chief. It's like when F.D.R. said, 'Gotta get me some sleep. Tomorrow is Big D-Day. Can't say much more, but it rhymes with Shmormandy.' — STEPHEN COLBERT 'So either the United States is about to jump in or he just got bored during the G7 icebreakers.' — STEPHEN COLBERT ''Stay tuned.' Like it's the season finale of 'Celebrity Apprentice' or something.' — JIMMY KIMMEL 'Oh, great! Yeah, better than a cease-fire! Cease-fire plus! That's great — I hate watching ads.' — JORDAN KLEPPER The Punchiest Punchlines (Trade Deal Drop Edition) Want all of The Times? Subscribe.
Yahoo
an hour ago
- Yahoo
'This Blows': Stephen Colbert Mocks Trump's Failed Attempt To 'Save Face'
'Late Show' host Stephen Colbert said President Donald Trump's trip to Canada this week for the G7 summit 'did not go smoothly' as he unveiled a trade deal with British Prime Minister Keir Starmer. Trump tried to show off the document, but ended up dropping many of the pages. Colbert broke out his Trump impression. 'Five-second rule, I can still eat it!' he cracked. Colbert said 'Trump tried to save face' by blaming the wind, but 'Late Show' host was skeptical of that explanation given the lack of any evident wind. 'Sure, wind always makes things fall straight down,' he said. 'We all remember when an apple fell on Sir Isaac Newton's head and he declared, 'This blows.'' See more in his Tuesday night monologue:
