News

S. Korea, NATO agree to launch new defense consultative group

2025/06/26 22:36

South Korea's National Security Adviser Wi Sung-lac was in the Netherlands for this year's NATO summit, on behalf of President Lee Jae Myung. There, South Korea and NATO agreed to launch a defense consultative group. Our Presidential Office correspondent Song Yoo-jin reports. South Korea and NATO are eyeing to step up their defense cooperation. During a bilateral meeting on the sidelines of the NATO Summit, South Korea's National Security Adviser Wi Sung-lac and NATO Secretary General Mark Rutte agreed to create a new director-general-level defense consultative group. They also discussed Seoul's potential participation in the defense pact's High Visibility Projects, which are joint initiatives focused on developing key military capabilities, such as aerial refueling systems and ammunition. Attending the summit on behalf of President Lee Jae Myung, Wi delivered a letter from Lee reaffirming the administration's commitment to strengthening the partnership with NATO. Rutte welcomed the message, saying both sides were on the same page. Also on Wednesday, NATO and its Indo-Pacific partners, including South Korea, Japan, Australia, and New Zealand, released a joint statement pledging to enhance cooperation in the defense industry based on shared values and strategic interests. Though President Lee opted not to attend the summit, citing urgent domestic issues and uncertainty in the Middle East, Wi's visit is seen as a clear demonstration of the administration's pragmatic diplomatic strategy. "We're seeing clear intent to prioritize solidarity with liberal democracies. I believe these decisions show President Lee's commitment to deepening ties with like-minded countries, while also working to improve relations with China, Russia, and even North Korea, within that broader framework." While in The Hague, Seoul's security chief also met with U.S. Secretary of State and National Security Adviser Marco Rubio, where the two agreed on the need to arrange a bilateral summit as soon as possible. His one-on-ones with Japan's foreign minister, as well as top national security and foreign policy advisers from the Czech Republic and the Netherlands, centered on expanding cooperation. Song Yoo-jin, Arirang News.

Trump says U.S. to meet with Iran next week to discuss potential nuclear deal

2025/06/26 22:35

Things are finally looking to be settling down in the Middle East under the ceasefire between Israel and Iran for now. But U.S. President Donald Trump continues his push on Iran, this time by asserting that American and Iranian officials will talk next week. Our Shin Ha-young reports. Speaking at a press conference at the end of the NATO summit in the Netherlands on Wednesday, U.S. President Donald Trump said the U.S. will meet with Iran next week to discuss a potential nuclear agreement, which had been put on hold amid conflict between Israel and Iran. "We're going to talk to them next week, with Iran. We may sign an agreement, I don't know. The only thing we would be asking for is what we're asking for before, about -we want no nuclear. But we destroyed the nuclear, in other words, it's destroyed." Although Israel and Iran agreed to a ceasefire after 12 days of fighting, Trump did not rule out the possibility that the conflict could reignite possibly soon. "And they are both tired, exhausted, they fought very, very hard. And can it start again? I guess someday, it can, it could maybe start soon." Citing a report from the Israeli Atomic Energy Commission, Trump reaffirmed that Iran's nuclear facilities were completely destroyed by U.S. military strikes last weekend. He also criticized CNN and The New York Times for reporting that the damage was limited. "Some great statements just came out from the Israeli Atomic Energy Commission and from Iran, as you know, there was complete total destruction. And CNN turned out to be fake news, as always. That's why they have no credibility. The New York Times and CNN make up a phony story to get some hits." CNN reported on Tuesday that, according to an early U.S. intelligence assessment, last weekend's U.S. strikes on three of Iran's nuclear facilities did not destroy the core components of Tehran's nuclear program and likely only set it back by months. Meanwhile, Iran's state-affiliated news outlet Nournews reported that Iran's parliament approved a bill on Wednesday to stop working with the International Atomic Energy Agency. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the Atomic Energy Organization of Iran will suspend cooperation with the IAEA until the security of the nuclear facilities is guaranteed. He also said that Iran will speed up its peaceful nuclear program. This means it will no longer allow the agency to inspect or verify its nuclear sites and activities. Shin Ha-young, Arirang News.

S. Korea approves decommissioning of now-defunct Kori-1 nuclear reactor on Thursday

2025/06/26 22:34

South Korea on Thursday approved the decommissioning of the country's first nuclear plant, the Kori-1, marking its very first decommissioning of the commercial nuclear reactor. The plant's operator, Korea Hydro and Nuclear Power submitted its decommissioning application in 2021, and the Nuclear Safety and Security Commission granted approval after reviewing the case for around three years. The Kori-1 nuclear reactor had been operating for about 40 years, since 1978, and was permanently shut down in 2017. Related industries have high hopes, as the successful dismantling of the Kori-1 reactor could open up new business opportunities in the global reactor decommissioning market.

Lee makes nominations for Constitutional Court, and appoints four vice ministers

2025/06/26 22:34

President Lee Jae Myung made another round of nominations, including a new chief of the Constitutional Court, and appointed four vice ministers. Our Kim Bo-kyoung tells us more. President Lee Jae Myung made his latest nominations on Thursday. As the new chief of the Constitutional Court, former Supreme Court justice Kim Sang-hwan was nominated. The Presidential Office said Kim, also a former constitutional rapporteur judge, . was widely known for his deep expertise in constitutional and legal theory. For the remaining presidential judicial appointment to the Constitutional Court, the Presidential Office tapped Oh Young-joon, a presiding judge at the Seoul High Court. "This appointment marks the new government's first step toward restoring the Constitutional Court. It aims to put an end to the severe attempts to undermine the Court and to strengthen public trust in constitutional adjudication as well as the court's independence." A lawmaker from the ruling Democratic Party, Lim Kwang-hyun was nominated as commissioner of the National Tax Service. Selected last year to a proportional representation seat slot, he would be the first sitting lawmaker to lead the National Tax Service if appointed. All three nominees are subject to National Assembly confirmation hearings before a formal appointment by the president, but they do not need its approval to take their posts. The latest round of personnel appointments also included vice ministers of defense, health, the environment, and labor. Lee Doo-hee, the former commander of the Army Strategic Missile Command, has been appointed vice defense minister. "He's seen as the right person to respond to evolving battlefields, boost all-around deterrence under the ROK-U.S. alliance. He is also highly regarded for his potential to lead defense innovation through AI and advanced technology." Lee Seu-ran , director-general for social welfare policy at the health ministry, was promoted to first vice minister, while Kum Han-seung , president of the National Institute of Environmental Research, was named vice environment minister. And for the vice labor minister, Kwon Chang-jun , director-general for planning and coordination at the Ministry of Employment and Labor, was promoted. Kim Bo-kyoung, Arirang News.

Parties split over president’s budget pitch: support vs. skepticism

2025/06/26 22:33

And President Lee's speech on the extra budget proposal drew mixed reactions from lawmakers across the aisle. The ruling Democratic Party pledged full support for the swift passage of the supplementary budget, calling it necessary to revive the economy and protect livelihoods. In sharp contrast, the People Power Party found fault with the proposal, in particular, the cash handouts calling it "ineffective" and warned of growing national debt. While acknowledging the need for additional spending the opposition party also urged the government to respect bipartisan cooperation.

Triple economic squeeze: how should S. Korea respond to Middle East tension, tariffs, and slowing demand?

2025/06/26 21:35

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. As of June 24th, a fragile ceasefire between Iran and Israel has taken effect, bringing a momentary sense of relief to global markets. Stocks rallied, oil prices plunged, and volatility eased. But beneath the surface, deeper risks are piling up. The U.S. Federal Reserve remains cautious on rate cuts, even as President Trump's renewed tariffs add inflation pressure. Meanwhile, Iran's threat to close the Strait of Hormuz has reignited fears over global oil supply — a direct risk for South Korea, which depends on that route for nearly 70% of its crude imports. With domestic demand already fragile and the government pushing a 30.5 trillion won emergency budget, Korea now faces a dangerous mix: Middle East instability, U.S. trade tension, and internal slowdown. So, how serious is this triple threat — and what should we be doing now? For a deeper discussion on this, we connect to Song Soo-young, Professor of Business and Economics at Chung-Ang University. Welcome. Also joining us is Minjung Park, Professor of Business Administration at Kumoh National Institute of Technology. Good to see you. (SONG) 1. Let's begin with June 24th — the day markets reacted to the Iran–Israel ceasefire. U.S. stocks jumped over 1%, oil plunged more than 6%, and volatility dropped sharply. Was this just short-term relief after days of tension, or do you see early signs of a more lasting market rebound? (PARK) 2. That same day, Fed Chair Powell warned inflation could rise again this summer, staying cautious about a July rate cut. But markets are still hoping for an earlier move, even before September. With Trump's tariffs now adding new inflation risk, how should we interpret the Fed's current position? (SONG) 3. Turning to Korea's direct exposure — Iran's threat to block the Strait of Hormuz sent a clear warning. Nearly 70% of Korea's oil imports pass through that route. If a full blockade happens, what kind of economic shock should we prepare for? (SONG) 5. So with these risks building — what does Korea need to do right now, practically and strategically? What immediate responses should we be seeing, and what structural shifts should we start planning for? (PARK) 6. Another major pressure point is tariffs — Trump's new 50% duties on steel-derived appliances are now active. This puts Korean exporters, especially in electronics and appliances, in a tough spot. How much damage could this do to our trade performance? (SONG) 7. Exporters are already activating Plan Bs — shifting supply chains, raising prices, reworking production. But are Korean firms moving fast enough to adapt? Or do you see broader competitiveness risks emerging? (PARK) 8. On the policy front — the government's rolling out a 30.5 trillion won extra budget. With the Middle East still unstable and tariffs piling on, is that enough? Or are we going to need more rounds of support? (SONG) 9. There's also the balancing act — inflation is rising, but so is recession risk. Do we prioritize stimulus and risk fueling inflation? Or tighten up and risk stalling growth? What's the smarter path right now? (PARK) 10. Finally — we're now facing a rare mix of war fears, tariff battles, and shaky domestic demand. If you could send one clear message to Korea's economic leadership today, what would it be?

President Lee calls reviving people's livelihoods "most urgent" in extra budget speech

2025/06/26 19:41

We start at the National Assembly where President Lee Jae Myung earlier today addressed members of the parliament in a speech to support the supplementary budget proposal. Our top office correspondent Yoon Jung-min covers his remarks. President Lee Jae Myung was back in the National Assembly on Thursday some three weeks after taking the oath of office, this time, to deliver his first speech on the new government's extra budget proposal. "Restoring the devastated economy and reviving the people's livelihoods are the most urgent tasks. We need to create new growth engines and open the door to "fair growth," to share opportunities and outcomes of the growth." For that, President Lee called for efforts to restore transparency in the capital market to open up the "5,000-point era" for the KOSPI, one of his campaign pledges, as he vowed to make major investments for future growth, such as with AI and chips. To boost consumption, 13-trillion won, roughly 9.6-billion U.S. dollars, have been earmarked to hand out vouchers to all people up to 380 dollars per person, depending on income levels. Also included are investments in construction, as well as AI and renewable energy. Debts that have been delinquent for over seven years will be written off for over 1-million small business owners. It also includes a revenue adjustment at 7.6 billion dollars for an expected shortfall in tax revenue. Another focus was on Lee's "pragmatic diplomacy" for the national interest to resolve trade and supply chain issues. He did not forget to reiterate that peace is directly tied to the economy, stressing the importance of stability on the Korean Peninsula. "There can't be a color distinction when it comes to diplomacy. Decisions should be made solely in the national interest, not upon ideology." As Lee urged not to make a distinction between the ruling and the opposition bloc when it comes to helping the people and reviving the economy, "I greatly appreciate the People Power Party lawmakers for joining. You may not feel comfortable." he shook hands with the main opposition PPP lawmakers on his way out, who mostly stayed silent during the speech. A moment was caught on camera where President Lee tapped lawmaker Kweon Seong-dong on his shoulder, as Kweon reportedly protested the president's pick for Prime Minister, Kim Min-seok. The government's extra budget plan is under review at the Assembly, during which a tussle and compromise are expected. Yoon Jung-min, Arirang News.

[Weather] The weather will get hotter from tomorrow

2025/06/26 19:40

Today, daytime temperatures rose to around 30 degrees Celsius under clear skies across the country. Seoul rose up to 27 degrees during the day, about 5 degrees higher than yesterday. With humid conditions, it felt even hotter at 29 degrees. From tomorrow, the weather will get hotter around the country. Please take care not to get any heat-related illnesses. In addition, UV rays will be strong during the day tomorrow. The ultraviolet index will rise to high levels nationwide. They'll be at their peak in the afternoon, rising up to "very high" to "dangerous" levels around the southern parts of the country. Tomorrow morning will start warm at around 19 to 22 degrees all over the country. Daily highs will move up to 28 degrees in Seoul, Chuncheon, and Busan; 30 degrees in Daejeon. More rain will begin in the central regions on Saturday morning. That's all for Korea. Here are the weather conditions around the world.

World News: At least 16 killed, hundreds injured in Kenyan protests

2025/06/26 19:40

This is the World Now, bringing you the latest stories from around the globe. We begin in Kenya today, where according to Amnesty Kenya, at least 16 people have been killed and over 400 injured in anti-government protests across the country. Most of the fatalities reportedly occurred during violent clashes with the police in the capital, Nairobi. Thousands of demonstrators took to the streets on Wednesday, marking the one-year anniversary of last year's deadly protests against a controversial tax bill. Police used tear gas and water cannons to disperse crowds, leading to numerous casualties. The Independent Policing Oversight Authority, a government-funded watchdog, reported that at least 61 people were arrested nationwide during the unrest. Last year's demonstrations resulted in over 60 deaths and a dramatic storming of the parliament building. The latest protests reflect public frustration with government policies and the use of excessive force by security agencies. U.S. stocks ended mixed on Wednesday, as President Trump declared a ceasefire between Israel and Iran. Shares of Nvidia in particular jumped over 4%, closing at a record high for the first time since January. The strong performance helped lift the Nasdaq Composite by about 0-point-3 percent. The S&P 500 briefly touched an all-time intraday high before slipping slightly to close at a little over 6-thousand-92. Nvidia's market capitalization has now reached 3.77 trillion dollars, making it the world's most valuable company, narrowly ahead of Microsoft. Analysts say investors remain confident in Nvidia's dominance in the AI sector, despite tightened export controls to China under the Trump administration. U.S. President Donald Trump said on Wednesday that he is considering three to four candidates to replace Federal Reserve Chair Jerome Powell. Speaking at a press conference following a NATO summit in The Hague, Trump did not name any specific individuals but strongly criticized Powell and emphasized the need for a change in leadership at the Fed. The remarks came amid tensions between Powell and Trump over interest rate policies. This week, Powell criticized Trump's tariff policies during a congressional testimony and indicated that the central bank plans to hold interest rates steady for now to control inflation. Powell's current term as Fed chair runs through May 2026. Amazon founder Jeff Bezos and journalist Lauren Sanchez have moved their wedding party in Venice to a more isolated location. The change was made due to security concerns and the risk of protests. The couple had planned to celebrate in the popular Cannaregio district. However, after local groups threatened to block access to the venue, organizers moved the event to the historic Arsenale hall in the eastern Castello district. The wedding ceremony's exact date and location remain secret, but it is expected to take place between Thursday and Saturday. Around 200 to 250 high-profile guests from entertainment, politics, and finance are expected to attend. Yoon Se-young, Arirang News.

Netherlands Ambassador to Seoul on 75 years of Korean War, NATO cooperation, and "pragmatic diplomacy"

2025/06/26 19:39

In our special interview segment today we shed light on the thoughts of the Ambassador of the Netherlands with regard to peace and stability here on the peninsula and beyond as we mark a rather solemn anniversary this year. Our senior correspondent Oh Soo-young sat down with him. Seventy-five years after the Korean War began, the Netherlands' Ambassador to Seoul says new security challenges call for continued cooperation between South Korea and the nations that defended it. In an interview with Arirang News, Ambassador Peter van der Vliet reflected on the bilateral partnership, built on the sacrifices made by thousands of Dutch troops, who fought for South Korea's freedom and sovereignty. When North Korean and Chinese forces invaded the South in 1950, the Netherlands sent over 5,000 troops to help the South as part of the United Nations Command. At least 125 Dutch soldiers lost their lives. Even after the ceasefire in 1953, the Netherlands to this day remains committed to peace on the peninsula. "We are certainly for peace and stability on the Korean Peninsula. That is also a reason that we are still with the United Nations Command because the United Nations Command is there to promote stability on the Korean Peninsula." As global conflicts blur traditional lines between the Euro-Atlantic and Indo-Pacific regions, the ambassador stresses that South Korea's security is becoming deeply linked to Europe's. "The best example of that is the Russian military strategic cooperation with North Korea, with North Korean weapons and troops going to Russia to help Russia in its war of aggression against a sovereign state, Ukraine. But also in the other direction, the things that North Korea gets from Russia, including military technology and other items." As such, South Korea has been increasing its cooperation with the North Atlantic Treaty Organisation, since the Russian invasion of Ukraine, supplying NATO countries with artillery shells, tanks, howitzers, and light combat aircraft. Since 2022,.. South Korea has been invited to the annual NATO Summits which this year, takes place at the Hague. "It's also a historic summit because the European members of NATO will take a larger, greater responsibility for Europe's defense. And I think that also offers opportunities for Korea to be even more involved in defense cooperation." Beyond defence, the Ambassador says economic security has emerged as another central area of cooperation, as countries work to secure supply chains, protect critical technologies, and shield their economies from strategic vulnerabilities. The two countries, in 2023, agreed to collaborate in the semiconductor industry, the most consequential component that powers all things digital. Going forward, as South Korea's new administration sets out its so-called "pragmatic diplomacy", hinting at engagement with Beijing and Moscow, the Dutch envoy says pragmatism is inherently grounded in principles. "Pragmatism is also based on a foundation of certain values and principles. Just a pragmatic policy without values or principles is really what is it really? And I think the values that we have in common should be treasured. .. Respect for the international legal order, a rule-based international system for peace, for democracy." Seventy-five years after the war began and still continues, South Korea and the Netherlands face new security tests but stay bound by the shared values that first brought Dutch forces to this distant shore. Oh Soo-young, Arirang News.

South Korea is best-performing market in June: Here's why

2025/06/26 19:37

The local bourse stands as the best performing stock market among the G20 based on findings from June second to June 25th. Our economic correspondent Park Jun-han takes a look at the factors that fueled the rally. As of Wednesday, South Korea's benchmark KOSPI recorded the highest return for June among major economies. According to data from the Korea Exchange, South Korea's benchmark KOSPI gained over 15% from June 2 to June 25. This is by far the largest increase among G20 countries, as no other economy has seen gains exceeding 5% during the month so far. In terms of index gains in 2025, the KOSPI is up over 700 points — from below 2,400 on January 2 to over 3,100 on June 25. This represents an increase of over 29% in less than six months. Among the various factors that led to the rally, experts point to eased uncertainties, and high expectations for the new Lee Jae Myung administration's economic policies as key reasons for the surge. "The weakening of the dollar, coupled with a cycle of fiscal policy expansion and interest rate cuts in emerging economies outside the U.S., have created a favorable environment for investment. After a period of political uncertainty, the snap presidential election removed some of this and resulted in a strong inflow on policy expectations." The first half of 2025 in South Korea was marked by both internal and external uncertainties, which the market is extremely sensitive to. The political instability caused by the martial law declaration last December by then-President Yoon Suk Yeol pressured investor sentiment and led to an outflow of foreign funds. Moreover, tariff threats from U.S. President Donald Trump also negatively impacted investor confidence. In early April, Trump announced plans to impose 25% "reciprocal tariffs" on Korea. The announcement heightened concerns about inflation and contributed to a weakened competitiveness for South Korean exports. However, Trump temporarily suspended the tariffs for 90 days just days after his initial announcement, leaving room for negotiation. Since then, stock markets around the world, which had plunged earlier, began to rebound. President Lee, who has long promised to usher in the "KOSPI 5,000 era," declared the start of a new chapter, as quote, a "new period with new hopes." Lee also visited the Korea Exchange earlier this month and highlighted the importance of dividend payouts and a zero-tolerance policy for stock price manipulation, pledging to lead the market through various reforms, including shareholder return policies and amendments to the Korean Commercial Act. However, there are potential concerns behind the rally. Tariff negotiations are approaching, with less than two weeks left until the deadline. Also, although there's a temporary ceasefire, the Middle Eastern conflict between Israel and Iran could heighten market uncertainties if both sides clash again. "In the case of wars, we'll have to wait and see how long they last and how predictable they are, as both factors will affect the economy going forward." "I think the overall U.S. economy and tariff policy, along with South Korean companies' second quarter results, will be key factors in determining how our stock prices move in the third quarter." Now, the index has broken the crucial psychological resistance level of 3,000, investors are keeping a close eye on whether the rally can be sustained. Park Jun-han, Arirang News.

Fed chair says tariff impact on inflation hard to predict

2025/06/26 19:36

In the U.S. Federal Reserve Chair Jerome Powell says the inflationary impact of the Trump administration's tariffs is "very hard to predict." Speaking at the Senate Banking Committee on Wednesday Powell said the impact of tariffs on prices could be larger or smaller than expected a risk that calls for prudence in policy-making. His latest testimony followed earlier remarks at the House Financial Services Committee during which he reiterated the Fed's wait-and-see stance on rate cuts. The central bank last week left its benchmark interest rate unchanged at 4-point-2-5 to 4-point-5 percent.

Ri Sol-ju makes rare public appearance after nearly 18 months, highlights daughter

2025/06/26 19:36

In other news. North Korean leader Kim Jong-un's wife Ri Sol-ju made a rare public appearance the first in about a year and a half. According to reports by the regime's media Ri joined her husband and their daughter Ju-ae at the completion ceremony of the Wonsan-Kalma tourist zone earlier on Tuesday. Ri appeared to be carrying a Gucci bag while dressed modestly in contrast to the white formal suit of her daughter Ju-ae. Officials here in Seoul suggest that Ri's subdued presence next to her daughter could be an attempt to maintain the public spotlight on Ju-ae.

Trump says U.S. to meet with Iran next week to discuss potential nuclear deal

2025/06/26 19:36

Speaking to members of the media on the sidelines of the NATO summit U.S. President Donald Trump revealed that Washington and Tehran will sit down next week for talks on the latter's nuclear activities while acknowledging the fragile state of the current truce between Israel and Iran. Our political correspondent Shin Ha-young reports. Speaking at a press conference at the end of the NATO summit in the Netherlands on Wednesday, U.S. President Donald Trump said the U.S. will meet with Iran next week to discuss a potential nuclear agreement, which had been put on hold amid conflict between Israel and Iran. "We're going to talk to them next week, with Iran. We may sign an agreement, I don't know. The only thing we would be asking for is what we're asking for before, about -we want no nuclear. But we destroyed the nuclear, in other words, it's destroyed." Although Israel and Iran agreed to a ceasefire after 12 days of fighting, Trump did not rule out the possibility that the conflict could reignite possibly soon. "And they are both tired, exhausted, they fought very, very hard. And can it start again? I guess someday, it can, it could maybe start soon." Citing a report from the Israeli Atomic Energy Commission, Trump reaffirmed that Iran's nuclear facilities were completely destroyed by U.S. military strikes last weekend. He also criticized CNN and The New York Times for reporting that the damage was limited. "Some great statements just came out from the Israeli Atomic Energy Commission and from Iran, as you know, there was complete total destruction. And CNN turned out to be fake news, as always. That's why they have no credibility. The New York Times and CNN make up a phony story to get some hits." CNN reported on Tuesday that, according to an early U.S. intelligence assessment, last weekend's U.S. strikes on three of Iran's nuclear facilities did not destroy the core components of Tehran's nuclear program and likely only set it back by months. Meanwhile, Iran's state-affiliated news outlet Nournews reported that Iran's parliament approved a bill on Wednesday to stop working with the International Atomic Energy Agency. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said the Atomic Energy Organization of Iran will suspend cooperation with the IAEA until the security of the nuclear facilities is guaranteed. He also said that Iran will speed up its peaceful nuclear program. This means it will no longer allow the agency to inspect or verify its nuclear sites and activities. Shin Ha-young, Arirang News.

S. Korea, NATO agree to launch new defense consultative group

2025/06/26 19:35

National Security Adviser Wi Sung-lac was in the Netherlands on behalf of President Lee Jae Myung for talks with NATO members and partners on bolstering defense initiatives. Our Presidential Office Correspondent Song Yoo-jin reports. South Korea and NATO are eyeing to step up their defense cooperation. During a bilateral meeting on the sidelines of the NATO Summit, South Korea's National Security Adviser Wi Sung-lac and NATO Secretary General Mark Rutte agreed to create a new director-general-level defense consultative group. They also discussed Seoul's potential participation in the defense pact's High Visibility Projects, which are joint initiatives focused on developing key military capabilities, such as aerial refueling systems and ammunition. Attending the summit on behalf of President Lee Jae Myung, Wi delivered a letter from Lee reaffirming the administration's commitment to strengthening the partnership with NATO. Rutte welcomed the message, saying both sides were on the same page. Also on Wednesday, NATO and its Indo-Pacific partners, including South Korea, Japan, Australia, and New Zealand, released a joint statement pledging to enhance cooperation in the defense industry based on shared values and strategic interests. Though President Lee opted not to attend the summit, citing urgent domestic issues and uncertainty in the Middle East, Wi's visit is seen as a clear demonstration of the administration's pragmatic diplomatic strategy. "We're seeing clear intent to prioritize solidarity with liberal democracies. I believe these decisions show President Lee's commitment to deepening ties with like-minded countries, while also working to improve relations with China, Russia, and even North Korea, within that broader framework." While in The Hague, Seoul's security chief also met with U.S. Secretary of State and National Security Adviser Marco Rubio, where the two agreed on the need to arrange a bilateral summit as soon as possible. His one-on-ones with Japan's foreign minister, as well as top national security and foreign policy advisers from the Czech Republic and the Netherlands, centered on expanding cooperation. Song Yoo-jin, Arirang News.

NATO members agree to paying 5% of GDP on defense

2025/06/26 19:34

In the Netherlands. NATO leaders have agreed to a substantial boost in defense spending over the next decade. Lee Seung-jae has details. Members of the NATO alliance on Wednesday agreed to raise their defense spending target from the current two percent of GDP to five percent by 2035. In a joint declaration, the military bloc agreed to invest five percent annually to ensure its "individual and collective obligations." According to the declaration,.. the five percent figure is made up of "at least" 3-point-5 percent on "pure" defense", while the remaining 1-point-5 percent going to security and defense-related "critical infrastructure." In addition,.. member countries will be required to submit annual plans that show a "credible, incremental path to reach" the goal of 5 percent. The agreement comes as U.S. President Donald Trump had been critical of the military bloc for its lack of contribution to defense spending. Meanwhile, after Spanish Prime Minister Pedro Sanchez said his country could meet its commitments to NATO while spending much less than the new target of 5 percent of GDP, Trump threatened Spain with higher tariffs if it did not commit to the same target as all the members. "You what we're going to do? We're negotiating with Spain on a trade deal. We're going to make them pay twice as much and I'm actually serious about that." President Trump also held a closed-door meeting with Ukrainian President Volodymyr Zelenskyy on Wednesday at The Hague, after which the U.S. president didn't rule out sending Ukraine monetary and defense aid. "So let me just tell you they do want to have the anti-missile missiles, okay, as they call them the Patriots, and we're going to see if we could make some available, you know they're very hard to get." Trump appeared to have shifted tone compared to last meeting with Zelenskyy, while the Ukrainian leader also offered similar praise of Trump,.. adding Ukraine is ready to buy more U.S. weapons. Lee Seung-jae, Arirang News.

President Lee unveils nominees for Constitutional Court, the National Tax Service, and Vice Minister posts

2025/06/26 19:33

And President Lee Jae Myung announced another lineup of nominees earlier on this Thursday afternoon. Former Supreme Court Justice Kim Sang Hwan has been tapped as both a Constitutional Court justice and the next Chief Justice while Seoul High Court Judge Oh Young-Joon has been nominated for the remaining vacancy among the two Constitutional Court justices appointed by the President. Also ruling party lawmaker Lim Kwang Hyun has been picked to head the National Tax Service. In short today the vice ministers for the Defense, Health, Environment, and Labor Ministries have also been named alongside the Vice Chairperson of the Fair Trade Commission.

Parties split over president’s budget pitch: support vs. skepticism

2025/06/26 19:33

Staying at the parliament. President Lee Jae Myung's speech on the extra budget proposal drew mixed reactions from lawmakers across the aisle. The ruling Democratic Party pledged full support for the swift passage of the supplementary budget calling it necessary to revive the economy and protect livelihoods. In sharp contrast the People Power Party found fault with the proposal in particular the cash handouts calling it "ineffective" and warned of growing national debt. While acknowledging the need for additional spending the opposition party also urged the government to respect bipartisan cooperation.

TRUMP REAFFIRMS ISRAEL-IRAN TRUCE

2025/06/26 18:34

Welcome to Thursday's edition of Press Perspective. It's June 26th here in Seoul. I'm Min Sunhee. Today we REVISIT concerns over Iran's nuclear weapons ambitions even as a ceasefire is in effect as announced by the U.S. to end Tehran's trade of fire with Israel. For more I have Chloe Borgnon with French broadcaster France 24. Chloe welcome. I also have freelance reporter David Lee with us. David it's good to have you here. Chloe, let's begin with the latest on the situation in the Middle East. Is there a ceasefire still in place? David, Iran's Foreign Minister Abbas Araghchi was in Russia this week to meet with President Vladimir Putin. What has been shared about this meeting? And Chloe, what more can you tell us about Russia's stance regarding the events unfolding in the Middle East? What potential assistance might the Kremlin offer Iran? David, how might potential support from Russia for Iran affect the Trump administration's foreign policy? I mean, do you see the U.S. siding with its traditional allies like Ukraine, NATO, etc, if Russia stands behind Iran? Chloe, against this backdrop of heightened tensions in the Middle East, this year's NATO summit is underway in the Netherlands. What's the latest on that front? Chloe, could NATO get drawn into conflict with Iran? Meanwhile, David, what has been the South Korean government's response to the rampant violence in the Middle East? Chloe, how does U.S. action against Iran look to affect its future engagement with North Korea and the regime's nuclear weapons pursuits? David, the raging military confrontations in different parts of the world have some people fearing about the start of World War Three. What have you been hearing? All right.

2025 SUPPLEMENTARY BUDGET SPEECH

2025/06/26 15:38

Thanks for joining our special live coverage of the speech on this year's supplementary budget. It's 10 AM here in Seoul, and President Lee Jae Myung is expected to deliver his budget speech at the National Assembly. In just a few moments, President Lee will likely address lawmakers on the second extra budget plan, aimed at boosting spending and reviving the country's economy. Lee is expected to ask for bipartisan support on the plan,.. now that the supplementary budget bill --the second this year and the first since President Lee took office earlier this month --was approved by the Cabinet last week. The extra budget plan, worth 30-point-5 trillion Korean won, or 22 billion U.S. dollars, includes 20-point-2 trillion won of new spending to spur economic growth, and 10-point-3 trillion won to make up for an expected shortfall in tax revenue. A large amount of that new spending will be used to hand out cash to consumers to boost spending. The government is looking to give 10-point-3 trillion Korean won in vouchers ranging in value from 150 thousand won to 500 thousand to every citizen, depending on income levels. Since taking office earlier this month, President Lee Jae Myung has been working to get bipartisan support for the budget plan. Today's speech comes after President Lee met with leaders of the country's two major political parties over the weekend. He spoke to leaders of the ruling Democratic Party and the main opposition People Power Party at the presidential residence on Sunday.. where he acknowledged differing views on the proposed supplementary budget but stressed the need to build consensus to swiftly tackle economic challenges. Again, we are expected to see the president make his speech on the second supplementary budget. We see President Lee Jae Myung entering the National Assembly shaking hands with 000. There, we just saw him shaking hands with all the lawmakers before making his budget speech. Now that was South Korea's President Lee Jae Myung delivering his speech on the second supplementary budget. He has now addressed lawmakers on the extra budget plan, asking for bipartisan support. The plan, worth 30-point-5 trillion Korean won.. will include a universal cash handout scheme for consumers as the government seeks to boost spending and revive the country's economy.