South Korea, US and Japan hold aerial drill in demonstration of strength against North Korea
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
Powerful sister of North Korean leader Kim rejects South Korea's appeasement overture
SEOUL, South Korea (AP) — The influential sister of North Korean leader Kim Jong Un rebuffed an appeasement overture by South Korea's new liberal government, saying Monday that North Korea has no interests in talks with South Korea no matter what proposal its rival offers. Kim Yo Jong's comments suggest again that North Korea, now preoccupied with its expanding cooperation with Russia, has no intentions of returning to diplomacy with South Korea and the U.S. anytime soon. But experts said North Korea could change its course if it thinks it cannot maintain the same booming ties with Russia when the Russia-Ukraine war nears an end. 'We clarify once again the official stand that no matter what policy is adopted and whatever proposal is made in Seoul, we have no interest in it and there is neither a reason to meet nor an issue to be discussed with' South Korea, Kim Yo Jong said in a statement carried by state media. It's North Korea's first official statement on the government of South Korean President Lee Jae Myung, which took office in early June. In an effort to improve badly frayed ties with North Korea, Lee's government has halted anti-Pyongyang frontline loudspeaker broadcasts, taken steps to ban activists from flying balloons with propaganda leaflets across the border and repatriated North Koreans who were drifted south in wooden boats months earlier. Kim Yo Jong called such steps 'sincere efforts' by Lee's government to develop ties. But she said the Lee government won't be much different from its predecessors, citing what it calls 'their blind trust' to the alliance with the U.S. and attempt to 'stand in confrontation' with North Korea. She mentioned August's annual South Korea-U.S. military drills in August, which North Korea views as an invasion rehearsal. North Korea has been shunning talks with South Korea and the U.S. since leader Kim Jong Un's high-stakes nuclear diplomacy with President Donald Trump fell apart in 2019 due to wrangling over international sanctions. North Korea has since focused on building more powerful nuclear weapons targeting its rivals. North Korea now prioritizes cooperation with Russia by sending troops and conventional weapons to support its war against Ukraine, likely in return for economic and military assistance. South Korea, the U.S. and others say Russia may give North Korea sensitive technologies that can enhance its nuclear and missile programs. Since beginning his second term in January, Trump has repeatedly boasted of his personal ties with Kim Jong Un and expressed intent to resume diplomacy with him. But North Korea hasn't publicly responded to Trump's overture. In early 2024, Kim Jong Un ordered the rewriting of the constitution to remove the long-running state goal of a peaceful Korean unification and cement South Korea as an 'invariable principal enemy.' That caught many foreign experts by surprise because it was seen as eliminating the idea of shared statehood between the war-divided Koreas and breaking away with his predecessors' long-cherished dreams of peacefully achieving a unified Korea on the North's terms. Many experts say Kim likely aims to guard against South Korean cultural influence and bolster his family's dynastic rule. Others say Kim wants legal room to use his nuclear weapons against South Korea by making it as a foreign enemy state, not a partner for potential unification which shares a sense of national homogeneity.
Canada News.Net
a day ago
- Canada News.Net
Seoul's trade hopes dim after delay in key US tariff meeting
SEOUL, South Korea: With just days left before a 25 percent tariff deadline, South Korea's push to strike a trade deal with the United States has hit a snag. A high-stakes meeting aimed at averting the duties was suddenly postponed due to scheduling issues on the U.S. side, Seoul's finance ministry said on July 24. The delay, caused by a conflict in U.S. Treasury Secretary Scott Bessent's calendar, forced South Korean Finance Minister Koo-Cheol to cancel his flight to Washington just an hour before departure. Talks between Bessent, Koo, and their top trade envoys—dubbed the "2+2" meeting—will be rescheduled, but no new date has been announced. The unexpected shift has cast uncertainty over Seoul's ability to secure a last-minute reprieve from the tariffs, which could significantly impact key South Korean exports if they take effect on August 1. "It might be difficult to reschedule 2+2 again before August 1, so the best we can do is for the trade chief Yeo to request an extension of the tariff exemption," said Heo Yoon, a professor of international trade at Sogang University. Markets reacted to the delay. South Korea's KOSPI index pared early gains, closing up just 0.7 percent as shares of automakers and parts suppliers declined. Hyundai Motor fell as much as 1.8 percent. Washington has not offered further details for the postponement, but U.S. officials are juggling parallel negotiations with China in Sweden and the European Union back home—as they race to finalize multiple trade deals ahead of August. Despite the setback, South Korea's Minister for Trade Yeo Han-koo and Industry Minister Kim Jung-kwan remain in Washington, continuing lower-level discussions with U.S. officials, including a meeting with U.S. Trade Representative Jamieson Greer. The delay comes just days after Japan struck its own deal with the U.S., committing to increased market access for American agricultural and auto products and a US$550 billion investment and loan package. That agreement has raised the pressure on Seoul to deliver something similar. Analysts say the involvement of multiple high-ranking South Korean officials in Washington suggests the two sides were nearing the contours of a broad trade package, potentially covering sectors from autos to agriculture. South Korean access to the U.S. market is seen as essential for deepening industrial ties between the two countries, especially in advanced manufacturing. Yonhap News Agency reported that Seoul is preparing a proposal for a $100 billion U.S.-focused investment plan involving major conglomerates such as Samsung and Hyundai. President Lee Jae Myung recently met with Hyundai's Executive Chair Euisun Chung and LG Group Chairman Koo Kwang-mo to discuss their American ventures, and meet Samsung Chairman Jay Y. Lee on, according to local media. Meanwhile, Seoul is also weighing participation in a proposed $44 billion natural gas pipeline in Alaska, an infrastructure project championed by President Trump.
Canada News.Net
3 days ago
- Canada News.Net
Automaker stocks surge on US–Japan trade breakthrough
TOKYO/SEOUL: Japanese and South Korean automaker stocks rallied sharply on July 23 following news of a new U.S. trade agreement with Tokyo that will reduce tariffs on Japanese vehicle imports. The move raised hopes that South Korea could soon secure a similar deal, further boosting investor sentiment. Under the agreement, the U.S. will lower its tariff on Japanese car imports from 25 percent to 15 percent, according to sources familiar with the deal. President Donald Trump's announcement sent shares of major Japanese carmakers soaring, with one rising 13 percent and another more than nine percent. The reduced tariff eases pressure on Japan's top exporters in their most important overseas market. South Korean automakers also posted substantial gains, climbing more than six percent on optimism that a similar trade arrangement may soon be reached between Seoul and Washington. Both countries are major global auto exporters and critical U.S. allies in Asia. The new deal with Japan is considered the most significant among several trade agreements finalized by the White House before an August 1 deadline, when steeper import levies are due to take effect. While Trump's social media post did not disclose specifics about the auto provisions, officials from both the industry and government confirmed the tariff reduction. Vehicles are a central pillar of Japan's exports to the U.S., accounting for more than a quarter of total shipments. However, challenges remain. Tariffs on auto imports from Canada and Mexico are still set at 25 percent, and those countries play a key role in Japanese auto manufacturing. Mexico, in particular, is a vital production hub, with facilities operated by Japanese and Korean automakers. Shares of another Japanese carmaker with operations in Mexico also jumped nearly 9 percent. The deal is likely to increase pressure on South Korea to strike its own agreement before the August deadline. Seoul's industry minister said the government is closely monitoring the terms of the U.S.–Japan accord. South Korea, which competes directly with Japan in industries like autos and steel, is scheduled to hold high-level trade talks with Washington on Friday. The auto sector is a major driver of exports, employment, and national pride for both Japan and South Korea. Despite existing tariffs, the U.S. remains the largest and most lucrative market for many Asian carmakers. For example, one Japanese company sold 2.3 million vehicles in the U.S. in 2024, making up over 20 percent of its global total. North America is also its second-largest source of revenue after Japan. Similarly, South Korea's top automaker reported its highest North American revenue in nearly a decade last year, underscoring the region's strategic importance to Asia's vehicle manufacturers.
