News

What do Donald Trump's tariffs mean for S. Korea?

2025/02/07 10:00

The Trump administration's aggressive tariff policy direction for countries like China has come as no surprise given what we experienced during his first term. Then how can South Korea, an export-oriented nation, brace for another trade storm? Our Lee Soo-jin tells us. South Korea faces both risks and opportunities as global trade dynamics shift amid rising tariff tensions. While U.S. President Donald Trump on Monday local time, decided to pause the implementation of the tariffs for Canada and Mexico, for at least 30 days, his 10-percent tariff on Chinese products took effect just after midnight Tuesday. But these tariffs could potentially benefit Korean exporters, who'd gain a competitive edge in supplying products that China previously dominated. According to one expert,.. U.S. companies may shift their supply chains to South Korean firms. "In markets like the semiconductor industry, companies like SK hynix already have a strong presence, and if tariffs are imposed on China, South Korean products could gain an even greater competitive advantage." As semiconductors are South Korea's top export item, this would boost the country's trade surplus. But risks remain, as the expected drop in exports of Chinese goods to the U.S. may reduce Chinese orders for South Korea's key intermediate goods. "Our country's export structure depends on selling intermediate goods to China, for them to be assembled into the final product for export to other countries. So, if demand for China's goods declines, demand for these intermediate goods will also decline." And with growing concerns of possible tariffs on the EU and South Korea as well, South Korea's government and its companies are being proactive. The South Korean government announced Wednesday that it will establish a "Strategic Advanced Industry Fund," worth over 34 trillion Korean won, or around 23 billion U.S. dollars, to boost industrial competitiveness. "Ongoing global trade uncertainties, including additional tariffs on China, require close attention. We will establish the "Strategic Advanced Industry Fund" at the Industrial Bank of Korea to support high-tech sectors like batteries and biotech." As for the private sector,.. SK Group chairman Chey Tae-won will lead a delegation to Washington, D.C. on the 19th to discuss response strategies, with a meeting with Trump reportedly under discussion. Lee Soo-jin, Arirang News.

Trump's trade representative nominee Greer calls for tougher stance on digital trade targeting S. Korea and EU regulations

2025/02/07 10:00

U.S. Trade Representative nominee Jamieson Greer has called for a tougher approach to digital trade, opposing regulatory efforts by South Korea and the EU targeting U.S. tech firms. At his Senate confirmation hearing, Greer criticized the Biden administration's decision to drop World Trade Organization demands for free cross-border data flows and data localization bans. He emphasized that the U.S. should not outsource its regulations to the EU, Brazil, or any other country. "They can't discriminate against us, and it won't be tolerated," he said. Greer's remarks signal a more assertive digital trade policy under the Trump administration.

On-point: Will Constitutional Court make decision as early as late Feb.?

2025/02/07 10:00

With the 6th hearing having taken place on Thursday, there are now 2 hearings left for Yoon's impeachment trial. Will the last two hearings be enough for the court to make a decision? Let's turn to Professor Song Se-ryun. Thanks for joining us. 1. Yoon's legal team has applied to have over 31 witnesses, and the Court is still reviewing the candidates. How likely is it that the court will accept Prime Minister Han Duck-soo as a witness? Why? 2. President Yoon's side has made a request to the Constitutional Court to hold hearings once a week, not twice a week. How likely is it that the court will accept the request? 3. There are only two hearings left. Will there be an extension to the number of hearings? How many? Why that many? What makes you think so? 4. Will additional hearings work in favor of Yoon's side then? 5. If everything goes as scheduled, the last hearing will take place next Thursday, and some analysts say the trial will be wrapped up with the court's decision as early as later this month or in March. Do you also think so? Or will the court take its time? Thanks so much for your insight this morning. We appreciate it.

Fitch rates S. Korea's credibility 'AA-' amid political uncertainty

2025/02/07 10:00

International credit rating agency Fitch has kept South Korea's credit rating at 'AA-minus', maintaining a stable outlook for the country. Fitch reaffirmed South Korea's rating on Thursday, citing strong external finances, stable economic performance, and a dynamic export sector. It believes the current political uncertainty will have minimal short-term impact on Korea's economy. While acknowledging ongoing political risks, Fitch said it does not expect them to significantly undermine the institutions or governance of South Korea. Growth is forecast to slow in 2025, but Fitch said recovery is expected in 2026, supported by improving consumption and investment.

M3.1 earthquake struck Chungju city early Friday morning; no damage reported

2025/02/07 10:00

Early this morning, a magnitude 3.1 earthquake hit South Korea's central city of Chungju, with reports of shaking in surrounding areas. No major damage has been reported yet. Our Kim Jung-sil reports. Early Friday morning, around 2:35 AM, a magnitude 3.1 earthquake struck the central region of the country, waking people with the shake. The epicenter was located about 22 kilometers northwest of Chungju city, at a depth of 9 kilometers. Initially, the Korea Meteorological Administration estimated the quake's magnitude at 4.2, but after further analysis, it was revised to 3.1. The initial estimate of 4.2 triggered emergency disaster alerts across a wide area, including Chungcheong-do, Gyeonggi-do, and even parts of Seoul. South Korea uses the Modified Mercalli Intensity scale to measure earthquake intensity, with 10 being the strongest. In this case, the highest tremor intensity reported in Chungju was level 5, or moderate intensity. "This earthquake caused tremors with a maximum intensity of level 5 in Chungcheongbuk-do Province, and shaking was also detected in parts of Gangwon-do and Gyeonggi-do provinces. Level 5 means that nearly everyone in the area felt the shaking, with items like dishes and windows breaking, and unstable objects tipping over. Following the earthquake, two aftershocks occurred by 8:30 AM, with smaller magnitudes." Expert also suggested further caution for those in the affected areas. "Although this earthquake, with a magnitude of 3.1, is relatively small compared to those occurring in seismic hotspots, it may have caused strong shaking that could make some people feel uneasy. If you feel tremors during an earthquake, it is important to stay calm and prioritize protecting your head and body." The Ministry of the Interior and Safety has confirmed that there were no significant injuries or damages, with 23 earthquake-related reports across the regions as of 2:54 AM, the most coming from Gangwon-do with 13 reports. The Ministry has activated the emergency response system and issued an earthquake warning for the affected areas. It has also dispatched a field situation manager to Chungju to oversee the situation and ensure proper management. Kim Jung-sil, Arirang News.

[Weather] Severe cold weather with snow storm

2025/02/07 12:00

Brace yourselves—winter feels like it's in full swing this week. It's been bringing freezing temperatures AND heavy snow across the country. A snowstorm is making things even more challenging. Snow alerts have been expanded to most parts of Korea. The capital area could see 8 to 10 centimeters of snow in the morning. Chungcheong-do Province could see up to 15 centimeters of snow into Saturday, Snowy days should be less cold but that's not the case for today. A strong cold wave continues with a cold wave warning remaining in place for central regions. Afternoon highs will be similar to morning lows. Seoul will get up to minus 7 degrees, but the feels like temperature will be as low as minus 14 degrees. Daegu should see a high of minus 1 degrees. The wintry mix continues in Jeolla-do Provinces and Jeju through Sunday. Stay safe on the road! Staying extremely cold through Monday morning, then things will be much more bearable next week.

Trump agrees to pause tariffs on Mexico, Canada for one month

2025/02/06 20:30

Welcome to Within The Frame where we bring the most pressing issues across the globe into focus, I'm Kim Mok-yeon. As the U.S. trade landscape continues to shift under President Trump's policies, the latest developments are raising critical questions about the administration's approach to international relations and the global economy. A decision to delay a 25 percent tariff on Canada and Mexico has drawn attention, following last-minute agreements with both countries. However, Trump's 10 percent additional tariff slaps on China are set to take effect as scheduled, prompting retaliatory measures, fueling concerns. South Korea, closely monitoring these developments, faces uncertainty regarding the broader effects on its export-driven economy, especially as the U.S. considers further tariff actions against the European Union. For a closer look on this, we invite Song Soo-young, Professor of Economics at Chung-Ang University. Welcome, Professor. Also joining us will be our go-to Voice of America correspondent Jessica Stone. Good to see you again. 1. (Jessica) So Jessica, we're aware that President Trump postponed the imposition of 25 percent tariffs on Canada and Mexico for one month. This comes as agreements were made with the leaders of both countries a day before the tariffs were set to take effect. Could you remind us, what the content of the agreement was? 2. (Song) Since President Trump raised the issue of drugs as the primary reason for the tariffs, can it be seen that the tariffs were not a goal in themselves, but rather a means of pressure? 3. (Song) There were ongoing concerns within the U.S. about the significant impact of the tariffs on the U.S. economy, such as price inflation. Professor, Do you think these concerns played a role in the decision to delay the imposition? 4. (Jessica) Then Jessica, What has been the public reaction in the U.S. to the decision to delay the imposition of tariffs on Canada and Mexico? 5. (Song) So the U.S. will negotiate with Canada and Mexico over whether to impose the 25 percent tariffs for one month. Since President Trump has left the possibility of pushing through with the tariffs depending on the outcome of the negotiations, what could be the key variables and issues in future negotiations? 6. (Jessica) Meanwhile, the additional 10 percent tariff on China took effect as scheduled. China responded with retaliatory tariffs and options like filing a WTO complaint. Jessica, What is the White House's stance on this? (After China announced its countermeasures, President Trump, who had initially said he would call within 24 hours, later stated, "I won't rush to call." What is the reason behind this change in President Trump's position?) 9. (Jessica) South Korea is also closely monitoring the Trump administration's policy trends. Jessica, Given the "weaponization of tariffs" without any exceptions for allied countries, is there any potential for this policy to extend to South Korea's export-driven products, like semiconductors? 10. (Song) The European Union is being identified as the next target for tariffs by Trump. If the U.S.-China trade war expands into a global trade war, South Korean exports could inevitably be affected. Professor, How should South Korea prepare for this?

STOCK

2025/02/06 20:00

2025. 2. 6. KOREAN STOCK MARKET KOSPI : 2,536.75 ▲27.48 +1.10% KOSDAQ : 740.32 ▲9.34 +1.28% KOSPI200 : 336.53 ▲4.06 +1.22% ASIAN STOCK MARKET NIKKEI225 : 39,066.53 ▲235.05 +0.61% HANG SENG : 20,891.62 ▲294.53 +1.43% SHANGHAI : 3,270.66 ▲41.17 +1.27% WALL STREET (February 5) DOW JONES : 44,873.28 ▲317.24 +0.71% NASDAQ : 19,692.33 ▲38.32 +0.19% S&P500 : 6,061.48 ▲23.60 +0.39% EXCHANGE RATE USD : 1,447.70 (+3.40) JPY : 949.47 (+7.18) CNY : 198.67 (+0.33) EUR : 1,503.80 (+2.67)

Live: Clashes over whether Pres. Yoon ordered "agents" or "lawmakers" to be removed from Parliament

2025/02/06 20:00

Thank you for joining us. I'm Yoon Jung-min. President Yoon appeared at the Constitutional Court today for the sixth hearing of his impeachment trial, where more key witnesses turned up to testify. Our Oh Soo-young joins us live to bring the latest. Q1. Soo-young, the sixth trial hearing started in the morning as opposed to the afternoon, and lasted around 8 hours with some fierce rounds of questioning. That's right. There were strong clashes over the key question today which was: whether President Yoon had ordered the physical removal of lawmakers from Parliament with Yoon himself making a counterargument. Fiery exchanges were made as former Army Special Warfare Commander Kwak Jong-geun delivered his testimony, at the request of the National Assembly's impeachment panel. His previous statement contradicts the claims of President Yoon and former Defence Minister Kim Yong-hyun that the military was ordered to pull out military "agents" rather than "lawmakers" from the National Assembly. Kwak firmly maintained his position that, in his phone call with Yoon, he understood the President told him to remove legislators. "At the time, the 707th Special Mission forces were in a stand-off and weren't inside the main building. Since I received the call in that context, I naturally assumed he was referring to National Assembly members and understood it that way." Then, with questions fired over his choice of words, he admitted the President told him to pull out the numbers or "in-won" , not legislators or "ui-won" inside the National Assembly. To this President Yoon himself spoke out. Yoon also refuted the former commander's claim that the President and the Defense Minister did not want the number of legislators in the Assembly to reach 150 the number of votes needed to pass a motion to revoke martial law. He accused Kwak of conspiring to impeach him, with First Deputy Director of the National Intelligence Service Hong Jang-won, who also testified unfavorably for Yoon. Kim Hyun-tae, commander of the 707th Special Mission Battalion, who led the break-in at the National Assembly, also testified on Thursday. He said Commander Kwak Jong-geun did say the number of people should not exceed 150 – but noted Kwak seemed to be relaying instructions from a higher authority, rather than issuing a command. Kim said he did not receive any orders to remove or restrict the movement of legislators in the National Assembly, but to lock down the building. Also standing witness was Presidential Secretary for Economic Affairs Park Chun-seop. He suggested that the opposition-led parliament's impeachment of various state officials, unilateral legislation, and slashing of the government budget comprehensively motivated Yoon's martial law. Yoon has claimed these factors led to a state of national emergency, justifying his decree. The National Assembly's impeachment panel co-chair Kim Yi-su accused the President of changing his stance throughout the trial, and solely focused on finding statements that were advantageous to him. Meanwhile Soo-young the hearings are set to end next Thursday. Are we looking at a possible extension of these hearings? With only two sessions left, it looks likely that the Court will have to schedule more hearing dates beyond February 13th. The Court announced on Thursday, it selected an additional witness to testify: Cho Sung-hyun, Commander of the 1st Security Group under the Capital Defence Command. The decision comes after Capital Defense Commander Lee Jin-woo, a key witness in Tuesday's hearing, refused to answer crucial questions to verify the orders that were given, including by President Yoon Suk Yeol on the evening of December 3rd. According to prosecutors, Cho relayed orders by Lee Jin-woo to forcibly remove lawmakers, and ordered troops to assist the Special Warfare Command in clearing a passage to do so. His testimony is scheduled for next Thursday at 5 PM. All right. Thank you for the latest on the impeachment trial.

[Weather] More snow is forecast across the country, cold spell continues

2025/02/06 20:00

Cold wave warnings and advisories have been in place in most parts of the country for several days already. With freezing cold conditions in Seoul, the Han River is partially frozen. The cold spell will continue to freeze the country tomorrow. Meanwhile, from this afternoon, snow has been falling across the country, including Seoul. By tomorrow morning, up to 15 centimeters of snow is expected on the west coast of Chungcheongnam-do Province and the Jeolla-do provinces, 1 to 5 centimeters in the Seoul metropolitan area and 3 to 8 centimeters in rest of the central inland areas. Most of this snow will ease off from tomorrow afternoon, but more snow is forecast in the southwest and on Jeju Island until this weekend. Tomorrow, Seoul will be as cold as today at minus 12 degrees, and Daejeon at minus 7 degrees. Highs will move up to minus 6 degrees in Seoul, 3 degrees in Busan. This cold wave will continue until this weekend and recover back to normal readings from early next week. That's all for Korea. Here are the weather conditions around the world.

Leaders of S. Korean tech giants to attend AI summit in Paris

2025/02/06 20:00

Leaders of South Korean tech giants Samsung Electronics, LG and Naver, among others, will participate in the Artificial Intelligence Action Summit next week. This year's summit will be hosted in Paris on February 10th and 11th. Among those expected to attend are U.S. Vice President J.D. Vance and OpenAI CEO Sam Altman. The summit, now in its third time after London and Seoul, is gaining attention amid rising concerns over China's DeepSeek, sparking talks of an AI alliance.

UN agency urges N. Korea to immediately end human rights violations

2025/02/06 20:00

An agency under the United Nations has urged North Korea to take immediate steps to end human rights violations. The Office of the UN High Commissioner for Human Rights said in its latest report that it was able to observe violations of the right to food and freedom of expression in the regime, such as warrantless searches of homes. It conducted 175 interviews with escapees from the North and victims of human rights violations, and said many of them had been put in inhumane conditions in detention facilities, where they underwent forced labor, torture and a lack of adequate food. The report will be submitted to the UN Human Rights Council at its 58th session, scheduled to be held later this month.

Western allies slam Trump's plan to '"take over" Gaza

2025/02/06 20:00

On the international front. Washington's allies and adversaries alike have voiced their firm opposition to the idea of the U.S. taking over the Gaza Strip. Lee Seung-jae covers the condemnation. During a meeting with Israeli Prime Minister Benjamin Netanyahu on Tuesday, U.S. President Donald Trump proposed that the U.S. "take over" the Gaza Strip and resettle the Palestinian population. His plans to turn the area into the "Riviera of the Middle East" were heavily criticized by Western allies on Wednesday. The French Ministry of Foreign Affairs stressed its opposition to "any forced displacement" of Gazans, adding that Paris will continue to push for the implementation of a two-state solution. Italian Deputy Prime Minister and Foreign Minister Antonio Tajani said while Italy will look into Trump's plans,.. it still remains in favor of a two-state solution to the Israeli-Palestinian conflict. German President Walter Steinmeier slammed the plan, calling it unacceptable, adding that such actions will form a serious basis "for the upcoming talks between the regional actors and the U.S. administration." UN Secretary-General Antonio Guterres also criticized the proposal, calling the relocation of Gazans,.. a form of "ethnic cleansing." "In the search for solutions, we must not make the problem worse. It is vital to stay true to the bedrock of international law. It is essential to avoid any form of ethnic cleansing." The paramilitary Palestinian Islamic Jihad group, denounced what it called "racist comments" by the U.S. leader and vowed to fight his plans in Gaza. In a statement on Wednesday, the group said that Israel's attempt to force Palestinians to leave Gaza failed, and that Trump's proposal will also fail. Despite the international condemnation, President Trump said Wednesday at the White House, that "everybody loves" his proposal for a U.S. takeover of Gaza. Trump's officials were quick to clear up what they believe were misunderstandings, as U.S. Secretary of State, Marco Rubio said that Trump's plan was a unique offer to step in and clear debris and destruction in Gaza. He added that the move to relocate the Gazans was not meant as a hostile move and that details still needed to be worked out. With Trump also considering U.S. troop deployment to the Gaza Strip, U.S. Secretary of Defense Pete Hegseth said Trump is "willing to think outside the box, look for new and unique, dynamic ways to solve problems," adding that the Pentagon is prepared to look at all options. Lee Seung-jae, Arirang News.

[Econ & Biz] What do Donald Trump's tariffs mean for S. Korea?

2025/02/06 20:00

Economies around the world are bracing for a potential trade war triggered by recent tariff announcements by U.S. President Donald Trump. This week, we take a look at this matter with our trade correspondent Lee Soo-jin. To start us off, can you tell us what has happened for the past couple of days? Sure, so it has been a rather tumultuous couple of days on the economic front as Trump's tariff threats sparked concerns of a global trade war. On Saturday local time Trump announced 25-percent tariffs on goods from Canada and Mexico, while China was hit with a 10-percent tariff on various existing duty rates. Let's take a listen to what Trump said. "And, I don't want to use countries, I don't want to use names, but tariffs are very powerful, both economically and in getting everything else you want." And while they were to go into effect on Tuesday, Trump on Monday, decided to pause the implementation of the tariffs for Canada and Mexico, for at least 30 days. This comes as Canada agreed to implement a 1-point-3 billion U.S. dollar border plan which includes reinforcing the border with nearly 10-thousand front-line personnel as well as strengthening resources to respond to fentanyl and money laundering. And Mexico,.. agreed to place 10-thousand National Guard troops along the U.S. border to prevent the flow of drugs. But Trump's 10-percent tariff on Chinese products took effect just after midnight Tuesday. Within minutes, China's Finance Ministry announced retaliatory tariffs of 15 percent on U.S. coal and LNG, as well as 10 percent on crude oil, farm equipment, and certain automobiles, to take effect on February 10th. And,.. according to this expert, China's choice of which items to impose tariffs on was deliberate. "The phenomenon here is that agricultural pick-up trucks will impact agricultural are that are very strong supporters of Donald Trump. Another targeted item was LNG, LNG companies that are also strong supporters of Trump." 2. What do Trump's tariffs mean for South Korea? Sure, so South Korea may actually see both risks and opportunities, in regards to the tariffs on China. To start out with the positive, the tariffs imposed on China mean that Korean exporters may gain a competitive edge in supplying products that China previously dominated. This means that U.S. companies may shift their supply chains to South Korean firms. Let's take a listen. "In markets like the semiconductor industry, companies like SK hynix already have a strong presence, and if tariffs are imposed on China, South Korean products could gain an even greater competitive advantage." As semiconductors are South Korea's top export item, this would boost the country's trade surplus. But the expected drop in exports of Chinese goods to the U.S. may reduce Chinese orders for South Korea's key intermediate goods. Here's what the same expert said. "Our country's export structure depends on selling intermediate goods to China, for them to be assembled into the final product for export to other countries. So, if demand for China's goods declines, demand for these intermediate goods will also decline." It's also important to note that there are also growing concerns about the possibility of tariffs on the EU and South Korea as well. 3. What should be done to respond to these ongoing tariff threats? Well, for one,.. staying proactive will be key in this turbulent trade environment. And the South Korean government is already doing so through measures announced just yesterday that include establishing a "Strategic Advanced Industry Fund," worth over 34 trillion Korean won, or around 23 billion U.S. dollars. Let's take a listen. "Ongoing global trade uncertainties, including additional tariffs on China, require close attention. We will establish the "Strategic Advanced Industry Fund" at the Industrial Bank of Korea to support high-tech sectors like batteries and biotech." As for the private sector,.. SK Group chairman Chey Tae-won will lead a delegation to Washington, D.C. on the 19th to discuss response strategies, with a meeting with Trump reportedly under discussion. Here's why this is important at this time. "While Trump has not targeted Korea directly, he's threatening tariffs on virtually everybody. he said he wanted to replace subsidies for semiconductor factories with high tariffs. " And moving forward, the expert I spoke to suggested Korean companies use local politicians in Republican-leaning U.S. areas, where many of their factories are located, to emphasize that tariffs could harm jobs and investment. Alright, thank you for your report today. Thank you for having me.

S. Korea's December current account surplus hit record-high in 2024

2025/02/06 20:00

Following a stellar performance last December, Korea's current account marked a remarkable surplus last year at over 99-billion dollars, more than triple the size noted in 2023. Choi Min-jung covers the latest numbers. South Korea's current account surplus hit an all-time high for the month of December. According to data released by the Bank of Korea on Thursday, the country posted an almost 12-point-4 billion-dollar current account surplus in December 2024. This marks the largest December surplus on record. It's also the third-largest monthly surplus in South Korean history. The hike was thanks to strong exports and increased dividend earnings. Exports increased annually by 6-point-6-percent to 63 billion dollars. The continued growth in semiconductors and IT products, along with a slowdown in the decline of non-IT products such as automobiles, contributed to a higher export growth rate. The primary income account, or the net income earned by a country from its foreign investments, as well as wages paid to foreign workers, posted a 4-point-8 billion dollar surplus in December. In particular, the dividend income surplus reached 3-point-6 billion dollars. As a result, the cumulative current account surplus for 2024 reached 99 billion dollars,. more than three times the surplus in 2023. On an annual basis, this is the second-largest current account surplus on record, following the figure posted in 2015. Choi Min-jung, Arirang News.

S. Korean government ministries and tech firms move to ban DeepSeek

2025/02/06 20:00

Access to Chinese AI service DeepSeek is being restricted by government organizations and major companies here in Korea over data security concerns. Our Moon Hye-ryeon has the details. South Korean government agencies have restricted access to DeepSeek – a Chinese AI service accused of excessive data collection. On Thursday, the Ministry of Environment revealed that it blocked DeepSeek on all online computers as of 9 AM, while the Ministry of Economy and Finance stated its plans to restrict access on computers connected to external networks. These measures come a day after the Ministry of National Defense, the Ministry of Foreign Affairs, and the Ministry of Trade, Industry and Energy announced that access to DeepSeek on computers connected to external networks had been banned. These ministries handle a significant amount of classified information related to diplomacy, national security, and trade. A Defense Ministry official told reporters that the decision was made due to widespread concerns about the AI platform. This comes after the Ministry of the Interior and Safety issued an advisory to central government ministries and 17 metropolitan and provincial governments, urging officials to be cautious when using generative AI services like DeepSeek and ChatGPT. While the advisory did not explicitly call for a ban, it warned against entering sensitive or personal information into AI platforms, citing potential security risks. South Korea's Personal Information Protection Commission sent an inquiry to DeepSeek's headquarters requesting details on its data collection and storage practices, but the company has yet to respond. The private sector is also taking action, with major Korean tech companies restricting the use of DeepSeek. Kakao, an official partner of OpenAI, recently banned its employees from using the service for work by citing security concerns. LG Uplus also issued a security notice banning employees from using DeepSeek for work on the company network, and advised employees to avoid using DeepSeek on personal devices. Samsung, SK, and LG Electronics have long prohibited unauthorized software on company devices, while Korea Hydro and Nuclear Power recently reinforced its AI security policies, banning DeepSeek on its internal network. DeepSeek has also been banned from government computers in Australia and Japan, while Italy has gone as far as banning the app entirely. In the U.S., the state of Texas, has blocked DeepSeek from government-owned devices. Meanwhile, the European Union and the UK are closely monitoring potential risks associated with Chinese AI platforms. Moon Hye-ryeon, Arirang News.

Fuel tax cut to be extended to end of April to alleviate people's financial burden

2025/02/06 20:00

Acting President Choi Sang-mok has vowed to make use of all available measures to support the nation's economic recovery. This, from an economic meeting held on Thursday focusing on people's livelihoods. To alleviate fuel costs, the temporary fuel tax cut, originally set to end in February, will be extended for two more months until the end of April. This marks the 14th extension since the country introduced it in 2021. And, to stabilize living costs, around 20-million U.S. dollars will be allocated for discounts on agricultural and fisheries products between February and March. On top of that, 370-thousand tons of fruits and vegetable imports with lowered tariffs will be introduced.

Acting Pres. Choi attends third parliamentary hearing on insurrection allegations

2025/02/06 20:00

Meanwhile at the National Assembly today. Acting president Choi Sang-mok attended a hearing led by lawmakers into charges of insurrection against the Yoon administration. Our political correspondent Shin Ha-young has takeaways. During a third Assembly hearing on Thursday into allegations of insurrection by the president and some of his ministers, lawmakers directed their questions to Acting President Choi Sang-mok. The spotlight was on a controversial note Choi received on December 3rd, ordering the preparation of a budget for an emergency legislative body, presumably to replace the elected National Assembly. President Yoon previously said in his third impeachment hearing at the Constitutional Court that he learned about the note through media reports. Opposition party lawmakers on the special committee sought to determine whether President Yoon issued instructions to certain Cabinet members through written notes at the time. Choi reaffirmed that he received the note but did not review it immediately. "If the emergency legislative body, as mentioned in the note, forcibly dissolved the National Assembly and replaced it, wouldn't that be an unconstitutional body?" "I'm not aware of that matter." Meanwhile, ruling party lawmakers claimed that appointing Ma Eun-hyuk to the Constitutional Court would be unfair, due to the lack of a bipartisan consensus. "I believe there was no bipartisan agreement on nominee Ma Eun-hyuk. What do you think?" "I would say that there was no agreement between the parties at that time." Thursday's session was also attended by Prime Minister Han Duck-soo and other officials. Han expressed concern that if the Constitutional Court doesn't make a decision the public can accept, it could cause national division. Ahead of Thursday's hearing, the committee called 25 witnesses including President Yoon, Acting President Choi, and former Defense Minister Kim Yong-hyun, to testify. However, nine of them, including Yoon and Kim, submitted excuses to not appear. At the beginning of the hearings, the opposition-led committee issued orders for Kim and three others involved in Yoon's martial law declaration to appear as witnesses. The committee's investigation is scheduled to end on February 13th, but the opposition is considering pushing for an extension, citing the absence of key witnesses at previous hearings. Shin Ha-young, Arirang News.

K-BANGSAN BETS ON GLOBAL REARMAMENT

2025/02/06 17:00

Welcome to yet another edition of Press Perspective for this Thursday February 6th here in Seoul. I'm Min Sunhee. Bolstering defense is a national priority for any country and Korean arms makers are hoping to better advance this global agenda. For more I have Steven Borowiec a staff writer for Japanese weekly news magazine Nikkei Asia. Steven welcome. I also have Professor Kim Junmo at Konkuk University live on the line. Professor Kim it's a pleasure. 1) Steven, Asian defense stocks rallied last year with investors betting that the region is poised to fuel a rearmament boom. Let's begin with this reality and your prospects. 2) Professor Kim, do you believe Mr. Trump's return to the White House is likely to fuel greater global defense spending? 3) Meanwhile, Steven, quite a number of media outlets have covered the reasons behind Korea's remarkable advances in arms development. Do share them with us, and what are your thoughts regarding Korea's competence in weapon-making? 4) And Professor Kim, do tell us more about Korea's defense industry including its steady advance into the global arms market. What do you believe has been driving Korea's strides in defense? 5) Steven, the government here has said a second Trump administration would serve to boost Korea's arms exports. What was said exactly, and do you agree? 6) Professor Kim, Korea hopes to become the fourth largest weapons exporter in 2027. How feasible is this plan? 7) Steven, earlier last year, you also covered K-defense, if I may. Do share with us details of your coverage. 8) Steven, for the sake of comparison, do tell us a bit about the current top five arms exporters, and the competition that Korea faces. 9) Professor Kim, Abu Dhabi, the capital city of the United Arab Emirates, is poised to host the International Defence Exhibition and Conference later this month. What should we be keeping our eyes on? All right. Well developing defense for the purpose of promoting peace is a policy that looks to be universally embraced especially amid the current geopolitical landscape. Thank you for watching.

Live: Clashes over whether Pres. Yoon ordered "agents" or "lawmakers" to be removed from Parliament

2025/02/06 17:00

We start yet again at the Constitutional Court where the sixth hearing began earlier today with President Yoon Suk Yeol in attendance as a new lineup of witnesses were grilled into the events surrounding the evening of December third. For more our Oh Soo-young joins us live. Soo-young it's good to have you on. So the court session today opened in the morning? That's right. There were strong clashes over the key question today which was: whether President Yoon had ordered the physical removal of lawmakers from Parliament with Yoon himself making a counterargument. Strong clashes came as former Army Special Warfare Command chief Kwak Jong-geun delivered his testimony, at the request of the National Assembly's impeachment panel. His previous statement clashes with the claims of President Yoon and former Defence Minister Kim Yong-hyun that the military was ordered to remove "agents" rather than "lawmakers" from the National Assembly. Kwak said, in his phone call with Yoon, because there were no troops inside the main Assembly building at the time, he understood the President told him to remove legislators. Then, during the testimony, he admitted he had heard the president tell him to pull out the numbers or "in-won" , not legislators or "ui-won" inside the National Assembly. He repeated his previous claim that the President and the Defense Minister did not want the number of legislators in the Assembly to reach 150 the number of votes needed to pass a motion including to revoke martial law. To this President Yoon himself spoke out, saying he had not even used the term "numbers" when there are words such as "people" or "agents" to refer to troops. He stated if he'd asked for 151 plus legislators to be removed, there would have been a back-and-forth between him and commanders on the ground to discuss the feasibility. Kim Hyun-tae, commander of the 707th Special Mission Battalion, who led the break-in at the National Assembly, also testified. He said Commander Kwak Jong-geun did say the number of people should not exceed 150 – but noted he seemed to be relaying instructions from a higher authority, rather than issuing a command. Kim said he did not receive any orders to remove or restrict the movement of legislators in the National Assembly, but to lock down the building as ordered. He added he and his troops were deployed in uniform straight from standard training. Both Kwak and Kim said they'd been ordered to lock down the National Assembly and decided that the situation would be impossible. Senior Presidential Secretary for Economic Affairs Park Chun-seop also began his testimony, with questions focusing on the opposition-led parliament slashing the government's budget, which Yoon claims led to a state of national emergency, justifying his martial law. Meanwhile Soo-young the hearings are set to end next Thursday. Are we looking at a possible extension of these hearings or will next Thursday be the final session? It looks likely that the Court will have to schedule more hearing dates beyond next Thursday. The Court announced on Thursday, it selected an additional witness to testify: Cho Sung-hyun, Commander of the 1st Security Group under the Capital Defence Command. The decision comes after Capital Defense Commander Lee Jin-woo, a key witness in Tuesday's hearing, refused to answer crucial questions to verify the orders that were given, including by President Yoon Suk Yeol on the evening of December 3rd. According to prosecutors' findings, included in Yoon's indictment, Cho relayed orders by Lee Jin-woo to forcibly remove lawmakers from the National Assembly, and ordered troops to assist the Special Warfare Command in clearing a passage to drag lawmakers out. His testimony is scheduled for next Thursday at 5 PM. If the justices add more hearing dates, it's likely the verdict of the trial would come around March, considering that it took 10 days for former President Park Geun-hye's ruling to be issued. The Court has been determined to expedite proceedings, Yoon's lawyers have been calling to slow down the pace of the twice-a-week hearings to once a week given that Yoon's criminal trial will begin in two week's time. All right Soo-young thank you for the latest on the impeachment trial. That was our Oh Soo-young reporting live from the Constitutional Court.