
Lee calls for measures to curb fake news on YouTube
"There are too many instances where fake news is used to earn money," Lee was quoted as saying in the minutes from the June 19 meeting disclosed by the interior ministry. "Resorting to illegal actions to earn money should be fundamentally prevented."
Lee suggested imposing punitive measures, such as exemplary damages, on such YouTubers, urging the justice ministry to review relevant measures.
During the meeting, Lee asked then Foreign Minister Cho Tae-yul about whether the Vietnamese people request an apology from South Korea, in an apparent reference to the massacre of civilians by South Korean troops during the Vietnam War.
He then said South Korea should do its best in its ties with Vietnam and ordered the government to review measures, such as accepting more foreign workers from the Southeast Asian country, as part of humanitarian efforts.
Lee also called on the land ministry to reform the public housing system to prevent property price hikes and retrieve returns from such housing projects to the public sector, according to the minutes. (Yonhap)
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Korea Herald
12 hours ago
- Korea Herald
Seoul shares close nearly flat with mixed sector performance
South Korean stocks finished nearly unchanged Wednesday as gains in tourism and retail shares offset losses in semiconductors and pharmaceuticals. The local currency slipped against the US dollar. The benchmark Korea Composite Stock Price Index climbed 0.14 point, or 0 percent, to close at 3,198.14. Trade volume was a little slim at 319.8 million shares worth 10.7 trillion won ($7.7 billion), with winners outnumbering losers 644 to 236. Foreigners and institutions sold a net 67.5 billion won and 53.7 billion won worth of local shares, respectively, while retail investors purchased a net 46.9 billion won. Tourism and retail shares led the daily gain following the government's decision to start a visa waiver program with Chinese group tourists from next month. Hotel Shilla jumped 4.79 percent to 49,250 won, and Shinsegae increased 3.27 percent to 176,900 won. Major cosmetics firm AmorePacific rose 1.26 percent to 128,800 won, and Kolmar Korea gained 2.79 percent to 99,400 won. Energy shares were also among the winners, as Doosan Enerbility mounted 2.31 percent to 66,300 won and the state-run Korea Electric Power Corp. vaulted 7.44 percent to 41,150 won. However, chip and drug stocks went south as Trump said again he would announce new tariffs on those imports soon. Chip giant Samsung Electronics fell 1.57 percent to 68,800 won, and its rival SK hynix retreated 1.9 percent to 258,500 won. SK Biopharmaceuticals tumbled 8.89 percent to 101,500 won, and Samsung Biologics dropped 1.9 percent to 1,031,000 won. The local currency was quoted at 1,389.5 won against the greenback at 3:30 p.m., down 1.2 won from the previous session. (Yonhap)


Korea Herald
13 hours ago
- Korea Herald
Seoul's adjustment to S. Korea-US military drill could put alliance to test: think tank
Despite Seoul floating talks of adjusting the scale and timing of the annual South Korea-US military exercise scheduled for mid-August, doing so would weaken Washington's trust in its decadeslong ally, a report by a local think tank said Wednesday. The report, published in Korean by the state-affiliated Korea Institute for Defense Analyses, said that under current circumstances, an adjustment to the Ulchi Freedom Shield drill could undermine 'the efforts and willpower expressed by the US Forces Korea to continue the S. Korea-US joint military exercises." This could weaken both Washington's and the USFK's trust in Seoul, it noted. The think tank also warned that a potential one-sided concession from Seoul in the area of defense, without a proper negotiation with Pyongyang, could devalue the South's efforts and, later, even its negotiating power. The report addresses Unification Minister Chung Dong-young's remarks in July to reporters, saying that he plans to recommend to President Lee Jae Myung to 'make adjustments' to the large-scale drill scheduled for mid-August. The Lee administration has repeatedly gestured for an inter-Korean thaw, including removing the South's anti-Pyongyang loudspeakers installed across the border. Chung's remarks closely followed comments from North Korean leader Kim Jong-un's influential sister, Kim Yo-jong, in July. She said Pyongyang was not interested in reviving talks with Seoul and denounced the 'aggressive' military exercises jointly conducted by South Korea and the US. The North has routinely condemned the joint military drills as a rehearsal for invasion and a provocation. There is a possibility that the North is aiming to establish a favorable environment when potentially reviving talks with both the US and the South, according to KIDA. Adjustment to the scale of the South Korea-US military exercises would be one of Pyongyang's conditions to achieve such an environment, alongside a USFK troop reduction, a declaration to end the 1950-53 Korean War and official admission of the North's status as a nuclear power. Aligned with these likely goals, Kim Yo-jong's latest comments were aimed at testing the alliance between the Lee administration and the Donald Trump administration and their willingness to carry out the annual joint military exercise, according to the KIDA. The report released Wednesday was titled 'North Korea's negotiation strategy shown through Kim Yo-jong's comments and how (South Korea) should respond.'


Korea Herald
13 hours ago
- Korea Herald
Lee, Trump likely to defer details on ‘alliance modernization'
South Korea and the United States are expected to agree at their upcoming summit on a broad principle to 'modernize the alliance' amid an evolving regional security environment, while leaving key details to future working-level talks, according to officials in Seoul familiar with the matter. Seoul and Washington have been gearing up for the first in-person summit between South Korean President Lee Jae Myung and US President Donald Trump, widely anticipated to take place in the US later this month. The summit is poised to address a wide range of agenda items centered on two key pillars: security and foreign affairs — with a focus on alliance modernization and the North Korean nuclear issue — and trade, particularly tariffs. The allies have been engaged in working-level talks in preparation for the summit. However, due to time constraints, Lee and Trump are expected to announce only a broad agreement in principle on alliance modernization at the summit, according to a diplomatic source who spoke on condition of anonymity. The alliance modernization agenda had taken a back seat to the trade deal finalized on July 30, which had commanded the allies' primary attention. Seoul and Washington have been in discussion on how to modernize their alliance, with the aim of strengthening its capabilities and readiness posture amid an evolving regional security environment. However, the allies held only one round of working-level talks on the issue — director general-level consultations held on July 10 and 11 in Seoul. Trump and Lee are largely expected to echo the principle, which was agreed upon in a joint statement following the two-day working-level negotiations: "to strengthen the US-ROK Alliance into a future-oriented, comprehensive strategic alliance, and to modernize the Alliance in a mutually beneficial manner in the face of an evolving regional security environment." The ROK refers to South Korea's official name, the Republic of Korea. Alliance modernization gains focus The "alliance modernization" agenda, first proposed by the Trump administration and reflecting key US interests and demands, encompasses a wide range of issues that could bring significant changes not only to the South Korea–US alliance but also to the broader security landscape on the Korean Peninsula and across the Indo-Pacific region. Alliance modernization includes adjustments to the size and role of US Forces Korea, an increase in South Korea's defense spending, and an expanded leading role for Seoul in addressing threats from North Korea — with the US increasingly shifting its focus toward countering threats stemming from China. In particular, any adjustments to the size and role of US Forces Korea require careful consideration, as they are closely linked to the new US National Defense Strategy and the Global Posture Review — both expected to be completed between late summer and autumn. While the concept of 'strategic flexibility' for US Forces Korea was agreed upon by the allies in 2006, The Korea Herald has learned that Seoul recognizes the need for deeper discussions — based on the existing agreement — in light of the evolving regional security environment. In the 2006 agreement, Seoul agreed to respect the "necessity for strategic flexibility of the US forces the ROK," and Washington agreed to respect the "ROK position that it shall not be involved in a regional conflict in Northeast Asia against the will of the Korean people" in the implementation of strategic flexibility. Unlike other alliance modernization-related issues, South Korea's defense spending is expected to take center stage at the summit due to Trump's interest, with remaining items likely deferred to working-level talks, according to the source. The Korea Herald also learned from sources that the allies have been discussing the scope of alliance modernization. South Korea believes alliance modernization should not necessarily be confined to the military domain and could expand into other sectors, including technological cooperation. The US is also said to share this understanding. Allies differ on US Forces Korea As the allies prepare for the first Trump-Lee summit, public remarks by high-ranking officials have showed discrepancies over troop levels and the mandate of US Forces Korea. South Korea's Foreign Minister Cho Hyun dismissed the possibility of changes to the size and role of US Forces Korea. 'We are talking with the United States, but there is no concern about the US forces in Korea. We believe that they will remain as such and their role will remain as of today,' Cho said in an interview with The Washington Post published Sunday. However, US Undersecretary of Defense Elbridge Colby suggested that Seoul should take greater responsibility in countering North Korean threats and reiterated Washington's call for increased defense spending. "South Korea continues to be a role model in its willingness to take more of the lead in a strong defense against the DPRK and in its spending on defense," Colby said on Aug. 1 on his official X account, following the first phone call between the defense chiefs of the allies on July 30. DPRK stands for North Korea's official name, the Democratic People's Republic of Korea. "We and the ROK are closely aligned on the need to modernize the Alliance in response to the regional security environment," Colby added. "We will work closely with Seoul to ensure a strategically sustainable Alliance that is ready to defend against shared threats."