Latest news with #Asia-PacificEconomicCooperation
The Sun
2 days ago
- Business
- The Sun
PM Anwar congratulates President Lee on South Korea election victory
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has extended his warmest congratulations to Lee Jae-myung on his election as the President of South Korea. He said that this marks a turning point for South Korea, a nation that has emerged from a period of intense contest and scrutiny with resilience and democratic resolve. 'The people have spoken for renewal of trust, of institutions, and of national purpose,' he said in a Facebook post today. 'I welcome the opportunity to work with President Lee to deepen the friendship between our nations: in trade and technology, in peace and security, and the enduring ties between our peoples. Malaysia-South Korea ties were elevated to a Strategic Partnership in November 2024, a milestone reflecting both nations' shared ambitions. Anwar said Malaysia, as Chair of ASEAN for 2025, hopes to see ASEAN play a more prominent role in South Korea's regional outlook. South Korea currently chairs the Asia-Pacific Economic Cooperation (APEC). 'As Chairs of ASEAN and APEC in 2025, respectively, Malaysia and South Korea are well placed to lead impactful regional initiatives. 'In a time of global flux, a deeper partnership between Southeast Asia and South Korea will be indispensable to us all,' he said. Anwar also wished Lee wisdom and success in the journey ahead and said he looks forward to meeting him in Kuala Lumpur this October for the ASEAN Summit, and again in Gyeongju, South Korea, for the APEC Economic Leaders' Meeting later that month. Lee formally began his five-year term today after the National Election Commission (NEC) confirmed his election victory during a plenary session. The liberal Democratic Party (DP) candidate won the election with 49.42 per cent of the vote, defeating his rival Kim Moon-soo of the conservative People Power Party, who garnered 41.15 per cent.
The Sun
2 days ago
- Business
- The Sun
PM Anwar congratulates President Lee
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has extended his warmest congratulations to Lee Jae-myung on his election as the President of South Korea. He said that this marks a turning point for South Korea, a nation that has emerged from a period of intense contest and scrutiny with resilience and democratic resolve. 'The people have spoken for renewal of trust, of institutions, and of national purpose,' he said in a Facebook post today. 'I welcome the opportunity to work with President Lee to deepen the friendship between our nations: in trade and technology, in peace and security, and the enduring ties between our peoples. Malaysia-South Korea ties were elevated to a Strategic Partnership in November 2024, a milestone reflecting both nations' shared ambitions. Anwar said Malaysia, as Chair of ASEAN for 2025, hopes to see ASEAN play a more prominent role in South Korea's regional outlook. South Korea currently chairs the Asia-Pacific Economic Cooperation (APEC). 'As Chairs of ASEAN and APEC in 2025, respectively, Malaysia and South Korea are well placed to lead impactful regional initiatives. 'In a time of global flux, a deeper partnership between Southeast Asia and South Korea will be indispensable to us all,' he said. Anwar also wished Lee wisdom and success in the journey ahead and said he looks forward to meeting him in Kuala Lumpur this October for the ASEAN Summit, and again in Gyeongju, South Korea, for the APEC Economic Leaders' Meeting later that month. Lee formally began his five-year term today after the National Election Commission (NEC) confirmed his election victory during a plenary session. The liberal Democratic Party (DP) candidate won the election with 49.42 per cent of the vote, defeating his rival Kim Moon-soo of the conservative People Power Party, who garnered 41.15 per cent.
Korea Herald
27-05-2025
- Politics
- Korea Herald
S. Korea to send invitations to APEC member states as soon as new gov't launches
South Korea plans to send formal invitations to the 20 member states of the Asia-Pacific Economic Cooperation (APEC) for the upcoming summit as soon as the new government launches following the June 3 presidential election, a foreign ministry official said Tuesday. The southeastern city of Gyeongju is set to host the multilateral summit between late October and early November, during which up to 3,500 high-level government officials from the member economies are expected to attend, including the leaders. South Korea will hold the presidential vote next week to choose the successor to former President Yoon Suk Yeol, who was removed from office on April 4 over his botched martial law attempt. "Since this is a regular annual event, we are planning under the assumption that all member states will attend," a ministry official told reporters on background. The APEC host country typically sends invitations twice to inform the participating countries of the event schedule before the summit takes place. Asked about U.S. President Donald Trump's potential visit to South Korea for the summit, the official said the government has been in talks with the U.S. side over the matter. "We've repeatedly conveyed the importance of the APEC summit and emphasized the significance of President Trump's participation," she said. "Arrangements are being made on the assumption that he will make it to the event." The official noted though that there has been no clear signal from Washington about Trump's potential attendance. On the possibility of Chinese President Xi Jinping attending the forum, the official said there is a "shared understanding" with Beijing that Xi's participation in the APEC summit will serve as a "good opportunity to further develop bilateral relations," without elaborating further. (Yonhap)
Korea Herald
27-05-2025
- Politics
- Korea Herald
Seoul to send APEC invitations under new president
Seoul to invite Putin, Trump, Xi South Korea will send out the first official invitations for the APEC summit in the name of the new president shortly after the early presidential election on June 3, the Foreign Ministry in Seoul said Tuesday. "As it is a summit-level meeting, it is appropriate for the invitation to be sent in the name of our head of state," a senior Foreign Ministry official said on condition of anonymity during a closed-door briefing. "We are making all the necessary preparations. We will proceed with the required procedures and send out the invitations as soon as the new administration is officially launched." Typically, invitations to the APEC summit are sent in two rounds — the first to notify member countries of the schedule and the second, to come around fall, to provide details on the agenda ahead of the main event. Russian President Vladimir Putin, who has been under an arrest warrant issued by the International Criminal Court since March 2023, will also be invited, as Russia is one of the 21 member countries of the Asia-Pacific Economic Cooperation. "The Russian delegation is currently participating in all meetings," the official said. "We have not been informed by Russia about who will attend." Putin has not participated in APEC summits since 2022. Regarding the attendance of US President Donald Trump, the Foreign Ministry official said, "We understand that everything — including hotel assignments and other planning — is being prepared on the assumption that he will attend.' "We have not yet been informed whether (Trump) will attend," the official added. "We have consistently conveyed the importance of the APEC summit and emphasized that President Trump's attendance is crucial to its success whenever we engage diplomatically. This message has been reiterated multiple times at various levels." When asked about the presence of Chinese leader Xi Jinping at the APEC summit, the official responded, "Overall, there is a shared understanding that President Xi's attendance at the APEC summit would serve as a valuable opportunity to further advance bilateral relations." The APEC summit is scheduled to be held in the city of Gyeongju, North Gyeongsang Province, from late October to early November, marking South Korea's first time hosting the event in 20 years, since it was last held in Busan in 2005.
Korea Herald
26-05-2025
- Business
- Korea Herald
US calls for resolution of non-tariff barrier issues in latest trade consultation with S. Korea: sources
The United States asked South Korea to resolve various non-trade barrier issues in their latest round of working-level trade talks, government sources said Monday, as Seoul is seeking to get a reduction or exemption of the Donald Trump administration's tariffs. In last week's working-level consultations, Washington urged Seoul to handle non-trade barrier issues listed on the 2025 National Trade Estimate Report on Foreign Trade Barriers issued by the office of the US Trade Representative in March, according to sources familiar with the matter. The NTE report had touched on a wide range of Korea's non-tariff measures, including its import ban on American beef from cattle aged 30 months or older, South Korea's "offset" defense trade policy, emission-related regulations on imported cars and pricing policies for pharmaceuticals. The two countries held their second round of "technical discussions" in Washington last week as agreed in a meeting between South Korean Industry Minister Ahn Duk-geun and USTR Jamieson Greer on the sidelines of an Asia-Pacific Economic Cooperation trade ministers' meeting held on South Korea's southern island of Jeju earlier this month. South Korea has been seeking to gain a full exemption or reduction of the Trump administration's 25 percent reciprocal tariffs for the country, as well as sectoral tariffs on steel, automobile and other imports. "Among the list of requests from the US, there are some things that can be resolved by easing regulations, but there are also matters concerning market access, which require necessary procedures under the trade treaty procedure act," a senior trade official said on the condition of anonymity, apparently referring to Seoul's beef imports and high tariffs on imported rice. South Korea imposes a 513 percent tariff on rice imports, but implements a 5 percent tariff rate quota for up to 132,304 tons of yearly rice imports from the US. The Korean delegation is said to have explained such issues can be dealt with in accordance with procedures under the trade treaty law, such as a parliamentary report. The delegation also told the USTR that South Korea has been looking into Google's request to transfer the country's high-precision map data and approved the cultivation of US-grown living modified organism potatoes as part of efforts to resolve the non-tariff barrier issues, according to the sources. The government plans to leave the decision of sensitive trade issues to the next government as the country is set to hold its presidential election next Tuesday. (Yonhap)
