Latest news with #Korea-U.S.
Yahoo
12 hours ago
- Business
- Yahoo
South Korea appoints ex-trade chief Yeo Han-koo as new trade minister
SEOUL (Reuters) -South Korea appointed former chief trade envoy Yeo Han-koo as its top trade negotiator, the president's office said on Tuesday, as Asia's fourth largest economy prepares for negotiations with Washington to reduce the tariffs. The U.S. imposed 25% levies on South Korea on April 2, one of the highest tariffs for a U.S. ally, though they have been suspended until early July. Cutting tariffs is a top policy priority for South Korea's new President Lee Jae-myung after a leadership vacuum in recent months helped delay talks between Seoul and Washington. The president also appointed statistics agency chief Lee Hyoung-il as first vice finance minister to lead the ministry until a finance minister is formally appointed, Lee's spokesperson Kang Yu-jung said. Sectoral tariffs have hurt South Korea's key industries including cars, aluminium and steel. Yeo was trade chief between August 2021 and early 2022 during left-leaning President Moon Jae-in's administration and was involved in Korea-U.S. talks under the first Trump administration. While serving as commercial attache at the Korean Embassy in Washington, he was involved in amendment negotiations of the Korea-U.S. Free Trade Agreement and Section 232 steel negotiations in 2017. For the past two years Yeo has been a senior fellow at the Peterson Institute for International Economics.
Nikkei Asia
03-06-2025
- Politics
- Nikkei Asia
South Korea election live: Voting coming to a close
SEOUL -- South Koreans are voting in an out-of-cycle presidential election on Tuesday, following the ouster of former President Yoon Suk Yeol over his botched attempt to impose emergency martial law in early December. The main candidates are front-runner Lee Jae-myung of the left-leaning Democratic Party and Kim Moon-soo of the conservative People Power Party. Voting closes at 8 p.m., local time, with exit polls and projections expected soon afterward. While we wait for results, here are some of our recent articles on this pivotal election with major implications for the country, the region and the rest of the world. - In South Korea election, voters seek economy fixes after 6 months of chaos - Japan wary of a possible Lee Jae-myung presidency in South Korea - - What happened to South Korea's progressive movement? Follow all the key developments with us here on our live blog. Here's the latest (South Korea time): 6:08 p.m. As of 6 p.m., voter turnout was recorded at 76.1%, one percentage point below the figure logged in the previous presidential election in 2022, according to the National Election Commission. The figure includes early voting that took place on Thursday and Friday. 6 p.m. Just two hours now until polls close. 5 p.m. On election day, both of the main candidates continued with messaging they had drawn on throughout the campaign, depicting themselves as bulwarks against chaos. Poll leader Lee Jae-myung wrote in a public message on Tuesday afternoon that voting was the way to save South Korea from "greed of vested interests," though he did not specify what vested interests he was referring to. "Please come forward again as citizens of the Republic of Korea, I earnestly implore you," Lee wrote. Conservative candidate Kim Moon-soo wrote a message on his Facebook page pledging to "block a monstrous dictatorship" while protecting "free democracy, the rule of law, the market economy and the [South] Korea-U.S. alliance." 2:20 p.m. As of 2 p.m., 65.5% of eligible voters had cast their ballots, which was 0.7 percentage point higher than the previous presidential election in 2022, Yonhap news agency reported, citing figures from the National Election Commission. The 2022 contest logged the highest voter turnout in the history of South Korean elections, raising the possibility of record-setting turnout in Tuesday's polls. One factor in the high turnout could be the weather, as warm temperatures and clear conditions are forecast across the country. In the Seoul, the temperature currently stands at around 24C with sunshine and low levels of fine-dust air pollution, according to the Korea Meteorological Administration. 1 p.m. South Korea's National Police Agency said it will station 28,590 police officers across the polling stations, according to the Yonhap news agency. Police said they would maintain the "highest level of emergency security," with all personnel on standby until the newly elected president enters office.
Yahoo
16-05-2025
- Business
- Yahoo
HD Hyundai Executive Vice Chairman Chung Kisun Meets with U.S. Trade Representative to Discuss Bilateral Cooperation
Executive Vice Chairman Chung Kisun meets with US Trade Rep. Jamieson Greer on May 16 to hold official talks to discuss the need for stronger Korea-U.S. cooperation in shipbuilding with HD Hyundai proposing collaboration on port crane manufacturing "We highly value U.S. shipbuilding revitalization efforts and are ready to contribute wherever needed," says Chung SEOUL, South Korea, May 15, 2025 /PRNewswire/ -- Chung Kisun, Executive Vice Chairman of HD Hyundai recently held talks with the United States Trade Representative (USTR) to explore opportunities for cooperation between South Korea and the U.S. in the shipbuilding industry. HD Hyundai announced on Friday, May 16, that Chung met with U.S. Trade Representative (USTR) Jamieson Greer to explore measures for strategic cooperation between Korea and the United States in the shipbuilding sector. This marks the first for Korea's shipbuilding industry to hold an official talk with the USTR. The USTR delegation was visiting Korea for a meeting of trade ministers from the Asia-Pacific Economic Cooperation (APEC) grouping. During the meeting, Chung introduced HD Hyundai's ongoing collaboration with U.S. defense shipbuilder Huntington Ingalls Industries and proposed concrete areas of cooperation, including joint technology development, shipbuilding cooperation, and skilled workforce training programs. He emphasized the growing need for closer industrial cooperation between the two nations. Chung also introduced HD Hyundai's affiliate, HD Hyundai Samho, and its crane manufacturing capabilities while addressing port cranes in the U.S. market. He then proposed the need to strengthen cooperation between the two countries to diversify and stabilize the U.S. port equipment supply chain. Chung remarked, "We deeply appreciate the United States' commitment to rebuilding its shipbuilding industry. HD Hyundai stands fully prepared and willing to contribute wherever our capabilities are needed." Greer previously served as Chief of Staff to Ambassador Robert Lighthizer during President Trump's first term, where he played a key role in U.S.-China trade negotiations aimed at promoting fair trade practices. View original content to download multimedia: SOURCE HD Hyundai Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
HD Hyundai Executive Vice Chairman Chung Kisun Meets with U.S. Trade Representative to Discuss Bilateral Cooperation
Executive Vice Chairman Chung Kisun meets with US Trade Rep. Jamieson Greer on May 16 to hold official talks to discuss the need for stronger Korea-U.S. cooperation in shipbuilding with HD Hyundai proposing collaboration on port crane manufacturing "We highly value U.S. shipbuilding revitalization efforts and are ready to contribute wherever needed," says Chung SEOUL, South Korea, May 15, 2025 /PRNewswire/ -- Chung Kisun, Executive Vice Chairman of HD Hyundai recently held talks with the United States Trade Representative (USTR) to explore opportunities for cooperation between South Korea and the U.S. in the shipbuilding industry. HD Hyundai announced on Friday, May 16, that Chung met with U.S. Trade Representative (USTR) Jamieson Greer to explore measures for strategic cooperation between Korea and the United States in the shipbuilding sector. This marks the first for Korea's shipbuilding industry to hold an official talk with the USTR. The USTR delegation was visiting Korea for a meeting of trade ministers from the Asia-Pacific Economic Cooperation (APEC) grouping. During the meeting, Chung introduced HD Hyundai's ongoing collaboration with U.S. defense shipbuilder Huntington Ingalls Industries and proposed concrete areas of cooperation, including joint technology development, shipbuilding cooperation, and skilled workforce training programs. He emphasized the growing need for closer industrial cooperation between the two nations. Chung also introduced HD Hyundai's affiliate, HD Hyundai Samho, and its crane manufacturing capabilities while addressing port cranes in the U.S. market. He then proposed the need to strengthen cooperation between the two countries to diversify and stabilize the U.S. port equipment supply chain. Chung remarked, "We deeply appreciate the United States' commitment to rebuilding its shipbuilding industry. HD Hyundai stands fully prepared and willing to contribute wherever our capabilities are needed." Greer previously served as Chief of Staff to Ambassador Robert Lighthizer during President Trump's first term, where he played a key role in U.S.-China trade negotiations aimed at promoting fair trade practices. View original content to download multimedia: SOURCE HD Hyundai Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
28-02-2025
- Business
- Associated Press
Governor Kim Yung-rok Visits U.S. to Strengthen Investment Ties and Global Collaboration
Governor Kim Yung-rok of Jeollanam-do, during his visit to the United States, poses for a commemorative photo after signing a Letter of Intent (LOI) at the Hyatt Hotel in San Francisco on February 26 (local time) with Stanford Center, KEPCO Tech, and Stock Farm Road (SFR) to support the successful development of the world's largest 3GW Solar City AI Supercluster Hub. Agenda includes foreign investment attraction, a special lecture at Stanford University, and meetings with Silicon Valley tech executives SEOUL, South Korea - February 28, 2025 - Governor Kim Yung-rok of Jeollanam-do Province will embark on a four-day visit to the United States from February 24 to 27, aiming to foster foreign investment, attract international educational institutions, and strengthen global partnerships. During his visit, Governor Kim will formalize agreements with key international partners, deliver a special lecture at Stanford University, and engage in high-level discussions with top executives from leading Silicon Valley companies. Key Highlights of the Visit February 25 | Agreement with Redlands Christian Schools (RCS) on International Education Expansion Governor Kim will sign an agreement with Redlands Christian Schools (RCS) in California to establish a foreign educational institution in Solar City, Haenam, South Korea. This initiative aims to provide world-class educational opportunities for Korean youth while positioning Solar City as a global education hub. February 26 | AI Supercluster Hub Investment & Agreement with Stanford University Governor Kim will hold in-depth discussions with global investors regarding the development of an AI Supercluster Hub in Jeollanam-do. He will also sign a collaborative agreement with Stanford University and the Korea Advanced Institute of Science and Technology (KAIST) to cultivate AI talent, establish AI-focused research and development initiatives, and expand AI data center capabilities. February 26 | Special Lecture at Stanford University Governor Kim will deliver a keynote address at Stanford University, one of the world's top institutions, titled: 'Korea-U.S. Global Innovation: Challenges and Opportunities in the Age of AI.' This lecture will be attended by Stanford students, faculty, and industry experts, highlighting the growing importance of Korea-U.S. collaboration in AI and technological innovation. February 27 | Meetings with Silicon Valley Tech Executives On the final day of the visit, Governor Kim will meet with executives from leading global tech companies in Silicon Valley to discuss sustainable development, industrial innovation, and economic collaboration. The discussions will focus on expanding AI infrastructure in Jeollanam-do and integrating data-driven technologies into the region's industrial ecosystem. Governor Kim's Vision for Jeollanam-do's Global Future 'This visit represents a critical opportunity to strengthen ties between Jeollanam-do and the world's most prestigious universities and technology companies,' said Governor Kim. 'By fostering innovation in venture ecosystems, startups, and cutting-edge strategic industries, Jeollanam-do is poised to become a leader in the global technology landscape.' Governor Kim's visit underscores Jeollanam-do's commitment to innovation-driven economic growth and international collaboration, paving the way for sustainable partnerships with global institutions and tech leaders. Media Contact Country: Korea
