News
U.S. confirms vacancy of N. Korean human rights envoy position
2025/04/23 10:00
The U.S. State Department has confirmed that the position of Special Envoy for North Korean Human Rights Issues is once again vacant following Julie Turner's departure in January. Turner, who was appointed in 2023, held the position until early this year after a six-year vacancy. Her exit comes as part of a broader reshuffling by the Trump administration, which has eliminated several special envoy positions, including the position dedicated to North Korea. And with the administration proposing a major State Department overhaul, it's unclear if or when the role will be refilled.
Trump says he has "no intention of firing" U.S. Federal Reserve chief Jerome Powell
2025/04/23 10:00
Trump has "no intention of firing" U.S. Fed Chair Jerome Powell, the U.S. leader says. The comments come as Trump was asked by reporters at the Oval Office on Tuesday if he has plans to fire Powell, to which the U.S leader said he "never did." He added that the "press runs away with things." Trump, however, called on Powell to cut interest rates, calling it the "perfect time" to do so. Just last week, Trump took to social media to say that Powell is "always TOO LATE and WRONG" and that his "termination cannot come fast enough," raising speculation that he could be looking to oust the U.S. Fed chair before his term ends next year.
Trump signals cooling trade tensions with Beijing with possible tariff reductions
2025/04/23 10:00
In the meantime, U.S. President Donald Trump has signaled easing trade tensions with China, as countries around the world push to negotiate lower tariffs. Speaking from the Oval Office on Tuesday, he said tariffs on Chinese goods could be "substantially" reduced, though not eliminated, under any forthcoming agreements. His remarks came after the U.S. Treasury Secretary expressed optimism about a potential de-escalation, but described negotiations with Beijing as a "slog" that has yet to officially begin. According to the White House, 34 countries are set to meet with Trump's trade team this week, with 18 having already submitted proposals.
On-point: How to make 2+2 tariff talks with U.S. fruitful?
2025/04/23 10:00
The South Korea-U.S. 2+2 trade talks on Thursday will be momentous, especially for South Korea, as what Seoul is calling 'consultations' will be the first of their kind since the Trump administration's 90-day tariff pause. We discuss more with Professor Park Minjung this morning. Good morning. 1. Can we expect some sort of a concrete outcome from the 2+2 meeting? Or will it be more of a pre-game where the two sides let each other know what they want and what they can offer? Because it's the first round of such talks? What makes you think so? 2. An expert I spoke to said that it would be a good sign if Trump shows up at discussions on Thursday because Trump is favoring countries like South Korea and Japan. What's your take on this? Do you also think so? 3. Trump is waging this tariff war on the U.S. trade deficit. Will South Korea's shipbuilding and LNG be enough as leverage to resolve tariff issues? Or are they enough for now? 4. Would you say it's a relief that a new administration will be launched in South Korea in June? Because we can buy time in the meantime? Or are we still running out of time? 5. The Trump administration is busier than ever carrying out tariff talks with countries around the world. Does the 90-day tariff pause give enough time to conduct talks with more than 70 countries realistically? Will the pause be extended? Or no? Thanks so much for sharing your insight with us. We appreciate it.
DP primaries in stronghold Honam region while PPP's 4-way race starts
2025/04/23 10:00
The People Power Party on Tuesday shortlisted four contenders in the first round of its presidential primary. The Democratic Party begins voting in its stronghold, Honam region, on Wednesday, with its second debate set to take place on the same day. Our Kim Do-yeon has more. The Democratic Party of Korea kicks off the second half of its regional presidential primaries on Wednesday in its traditional stronghold of the Honam region consisting of the Jeolla-do provinces and Gwangju City in the country's southwest. This region accounts for 27 percent of the Democratic Party's total electors, more than the 18 percent combined from the previous two voting regions, the Chungcheong-do and Gyeongsang-do provinces. While the primary is largely dominated by Lee Jae-myung, who leads with 90 percent of the votes so far other candidates are looking to boost their chances and turn things around. Second-place Kim Dong-yeon released his pledges for the region's development while Kim Kyung-soo, who is in third place, was the first to arrive on Tuesday to meet with DP members. Lee Jae-myung on the other hand had no public appearances due to a court appearance for one of his ongoing criminal trials. However, he's set to visit the region on Thursday as the voting will continue for a few days. And as the voting starts the three candidates are also set to have a second debate on Wednesday. Meanwhile, the People Power Party primary also turned a corner as the first round cut-off was announced on Tuesday evening. Kim Moon-soo, Ahn Cheol-soo, Han Dong-hoon, and Hong Joon-pyo survived after the eight initial contestants were cut to four. Except for Ahn Cheol-soo, all candidates were expected to make it through. Ahn's survival comes as the first round cut-off rule is new in this election. Having no weighted votes for PPP electors, the aim of the rule was to provide a boost to candidates who appeal to undecided voters. And Ahn was in favor of impeaching President Yoon Suk Yeol as opposed to Na Kyung-won, who was seen as Ahn's rival for the fourth spot. Now the race is two against impeachment Kim Moon-soo and Hong Joon-pyo and two for impeachment Han Dong-hoon and Ahn Cheol-soo. Starting with the second round cut-off, 50 percent of the votes will be from eligible PPP electors, while the other 50 percent will come from an open survey giving more weight to PPP members than the open survey. This means, those who protected President Yoon during the impeachment process could have an advantage. Kim Do-yeon, Arirang News.
S. Korea-U.S. to begin high-level trade talks in Washington
2025/04/23 10:00
High-level trade talks between South Korea and the U.S. are set to begin in Washington this week. South Korea's finance minister Choi Sang-mok is now there, and joining him is trade minister Ahn Duk-geun who says he's being mindful of all possibilities at the talks, considering how President Trump abruptly showed up at Japan's tariff talks with the U.S. Our Kim Jung-sil reports. South Korea's Deputy Prime Minister and Finance Minister, Choi Sang-mok, has arrived in Washington, D.C. for trade talks with the U.S. The discussions are set to begin at 8 a.m. local time on Thursday. This marks the highest-level visit by a South Korean official since the start of the Trump administration's second term. "We are here to initiate discussions that will further strengthen the ROK-U.S. alliance. I will share the results of our talks on Thursday." Choi's visit comes amid rising trade tensions, with the U.S. imposing a 25% tariff on South Korean imports. Minister Choi is joined by Trade Minister Ahn Duk-geun, who will arrive on Wednesday to join the discussions with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. While the specifics of the meeting remain unclear, the talks are expected to address a broad range of issues, including the ongoing trade imbalance, potential non-tariff barriers like U.S. beef import restrictions, and even defense cost-sharing. The Trump administration has been accelerating its trade efforts, with the White House announcing that the entire trade team is meeting with officials from 34 countries this week alone. "We are moving at Trump speed to ensure these deals are made on behalf of the American worker and the American people." Experts in Seoul advise South Korea to take a measured approach for a better long-term deal. "We don't know if what Trump wants today it will be the same tomorrow—he may ask additional things in the near future. We want to make sure that if there is a deal, then it's a complete deal." The expert also cautioned that the U.S. may be seeking a quick win for President Trump, which could lead to rushed decisions. With so much on the line in these negotiations, the outcome of Thursday's talks is being closely watched. Kim Jung-sil, Arirang News.
U.S.-South Korea Trade Talks: What’s next for the semiconductor industry?
2025/04/22 20:00
Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. Tonight, we turn our attention to U.S.-South Korea trade relations, with a specific focus on the semiconductor sector. As both nations prepare for the upcoming '2+2' trade talks, key industries such as the automotive, steel, and semiconductor sectors are set to take center stage. With rising tariffs, trade imbalances, and increasing geopolitical tensions, South Korea's semiconductor industry faces critical challenges. With the U.S. looking to expand local production, how should South Korea respond to ensure its semiconductor sector remains competitive in the global market? And what steps should companies take to navigate these uncertain times? To explore more on this, we connect to Sung Soo Eric Kim, founder & CEO of Datacrunch Global and adjunct professor at Yonsei Graduate School of Business. Welcome. Also joining us is William Brown, a former member of the board of directors at the Korea Economic Institute of America, and the principal of NAEIA.com. Great to have you. (KIM) 1. Let's begin with Prof. Kim. So the upcoming '2+2' trade talks are expected to address issues such as tariffs on automotive and steel products, and semiconductors. How likely do you think it is that South Korea will be able to negotiate a reduction or removal of these tariffs, specifically in the semiconductor sector? (BROWN) 2. With the U.S. seeking to expand its local production in key sectors such as semiconductors, what incentives or proposals should South Korea present during these talks to ensure its own semiconductor industry remains competitive and benefits from the negotiations? (KIM) 3. Given that South Korea is about to experience a political transition, Prof.Kim, how should the current government approach these trade talks to secure the best possible outcome for its semiconductor industry, especially considering the next administration may have different priorities? (BROWN) 4. On the topic of tariffs, the U.S. has indicated it will impose tariffs on South Korean semiconductors. Bill, what potential effects do you foresee this having on the South Korean economy, and what steps should South Korean companies take to adjust to these changes? (KIM) 5. Considering the growing uncertainty around global trade Prof. Kim, how should South Korean semiconductor companies adapt their production strategies to avoid the impact of these tariffs and maintain their competitive edge in the global market? (BROWN) 6. The semiconductor industry plays a crucial role in both the U.S. and South Korean economies. In your opinion, how important is it for South Korea to maintain strong ties with major American tech companies like Intel, Nvidia, and Qualcomm, particularly given the rising geopolitical tensions? (KIM) 7. President Trump has expressed interest in tying U.S. military cost-sharing arrangements to the trade negotiations. What risks do you see in linking these national security concerns directly to trade talks, particularly in terms of the semiconductor sector? (BROWN) 8. The U.S. has been focusing heavily on addressing trade imbalances and has pressured countries like South Korea to adjust their trade structures. What actions should South Korea take to address U.S. concerns while protecting its semiconductor industry and other economic interests? (BROWN) 9. Given the ongoing political and economic pressures surrounding U.S.-China trade tensions, how should South Korea strategically navigate these negotiations to avoid being caught in the middle of the two superpowers, especially when it comes to its semiconductor exports to both countries? (KIM) 10. In light of the recent reduction in semiconductor exports to China due to U.S. trade restrictions, what specific steps should South Korea take to ensure its semiconductor industry remains resilient and continues to thrive, both through market diversification and by strengthening its trade agreements with the U.S.?
Lee Jae-myung shares vision for medical system and environment; PPP's 1st round cut-off announced
2025/04/22 20:00
Thank you for joining us. I'm Yoon Jung-min. Presidential primaries heat up in the nation as the June 3rd election approaches. For the latest, our political correspondent Kim Do-yeon is live on the line. Do-yeon, let's begin with the Democratic Party that appears to have a clear front-runner. Jung-min, the front-runner, Lee Jae-myung, was forced into a quiet day on the campaign trail as he appeared in court for one of his ongoing criminal trials. Still, he took to social media earlier in the day to highlight his pledges—ranging from cutting carbon emissions and reducing plastic use, to pushing forward with changes in the medical system. Tomorrow marks the start of the second half of the regional primaries—starting with the southwest, covering the Jeolla-do Provinces and Gwangju City. A liberal stronghold, this region accounts for 27 percent of the Democratic Party's total electors—more than the 18 percent combined from the previous two voting regions, the Chungcheong-do and Gyeongsang-do provinces. Lee Jae-myung, who has so far secured 90 percent of the vote, is expected to travel to the region on Thursday. The candidate in second place, Kim Dong-yeon, laid out his development plans for the region today, while third-place Kim Kyung-soo—looking to turn things around—was the first to arrive there. Let's now turn to the People Power Party. The first round cut-off results are out. Who are advancing to the next round? Right, Jung-min. PPP's presidential primary is now a four-way race with Kim Moon-soo, Ahn Cheol-soo, Han Dong-hoon, and Hong Joon-pyo. A 100-percent open survey among PPP supporters and undecided voters took place from yesterday to 3 PM today and those four were the top-scoring candidates among eight. The Party says that due to election laws, exact numbers and rankings cannot be disclosed. Except for Ahn Cheol-soo, the rest were expected to make the cut. Ahn's survival comes amid the first round cut-off rule being new in this election. Having no weighted votes for PPP electors, it was aimed at providing a boost to candidates who appeal to undecided voters. And Ahn was in favor of impeaching President Yoon Suk Yeol as opposed to Na Kyung-won, who was seen as Ahn's rival for the fourth spot. Starting with the second round cut-off, the voting will be comprised of 50-percent eligible PPP electors and 50-percent an open survey giving more weight to PPP members than the open survey. All right Do-yeon. Thank you for the latest.
Putin implies Russia is open to direct talks with Ukraine
2025/04/22 20:00
Elsewhere, Russian President Vladimir Putin has signalled that he is open to direct talks with Ukraine, for the first time since the full-scale war began more than three years ago. During an interview with Russian state TV on Monday, Putin said Russia has "always looked positively on any peace initiatives," adding that he "hopes that representatives of the Kyiv regime will feel the same way." Kremlin spokesperson Dmitry Peskov said, "the president had in mind negotiations with the Ukrainian side." Ukrainian leader Volodymyr Zelenskyy did not directly respond to Putin's comments, but said in his nightly video address on the same day that Ukraine is "ready for any conversation" that would ensure the safety of civilians.
How does Conclave elect new pope?
2025/04/22 20:00
The passing of the pope looks to initiate the procedure of electing a new leader of the Catholic Church. Our Choi Soo-hyung walks us through that protocol. "With key." That's the literal meaning of Conclave, which comes from the Latin "cum clave." In the Catholic Church, the Conclave is the secret meeting of cardinals, under the age of 80, held to elect a new pope. The meeting takes place 15 to 20 days after the pope's death, leaving enough time for a nine-day mourning period and funeral, with cardinals from around the world arriving in Rome. The current Conclave traces its roots back to the 13th century. Traditionally, the pope is buried four to six days after his death. The process of electing the 267th pope begins after the mourning period. For this Conclave, 138 cardinals are eligible to elect and to be elected as the new pontiff out of the 252 members of the College of Cardinals. During the Conclave, the cardinals are locked inside the Sistine Chapel until the new pontiff is chosen. They cast four ballots each day, with a two-thirds majority required to choose the pope. The cardinals are not allowed contact with the outside world, no phones, no television, and no newspapers. After each vote, the ballots are burned, and the smoke coming from the chapel's chimney is the only signal to the outside world. Black smoke means an inconclusive vote, while white smoke marks the election of a new pope. Once elected, the bells of the Sistine Chapel ring, and after the chosen candidate accepts the office, an official announcement is made, revealing the new pope's papal name. Pope Francis, elected on March 13th, 2013, was chosen after five rounds of voting, just two days into the Conclave. The senior cardinal deacon introduces the newly elected pontiff with the traditional declaration, "Habemus Papam," meaning "We have a pope." Following Pope Francis, the first Latin-American pontiff, all eyes are now on whether the next pope, for the first time, could come from Asia or Africa. Choi Soo-hyung, Arirang News.
Supreme Court starts full bench review of election violation of DP's likely presidential candidate
2025/04/22 20:00
The Supreme Court on Tuesday started reviewing the election violation case against DP's likely presidential candidate Lee Jae-myung as a full bench. This means the Court is taking the case more seriously than others due to the level of public interest. Usually, Supreme Court cases are overseen by four justices out of the 13. For this case, however, one of the justices has requested to be recused from the bench as he leads the National Election Commission. Lee faces charges of spreading false information regarding urban development projects ahead of the 2021 presidential election. An initial guilty verdict was overturned on appeal last month.
World News: Modi and Vance hold talks in New Delhi
2025/04/22 17:00
This is the World Now, bringing you the latest stories from around the globe. U.S. Vice President JD Vance, who is on a four-day visit to India, met with Indian Prime Minister Narendra Modi in New Delhi on Monday to discuss bilateral ties and trade issues amid the Trump administration's new tariff policies. During the meeting, Vance and Modi discussed progress in areas such as trade and defense as well as plans for strengthened bilateral ties, as outlined in February when Modi met President Donald Trump at the White House. They also reviewed a bilateral trade agreement aimed at increasing trade between the two countries to 500 billion U.S. dollars by 2030. The United States is India's largest trading partner, and their bilateral trade reached 129 billion dollars in 2024. India seeks relief from proposed U.S. tariffs, while the U.S. encourages India to lower duties on American imports and boost purchases of U.S. defense equipment. China and Indonesia's foreign and defense ministers have met in Beijing to discuss improving mutual ties and economic collaboration. On Monday local time, Chinese Foreign Minister Wang Yi and Defense Minister Dong Jun met with Indonesia's Foreign Minister Sugiono and Defense Minister Sjafrie Sjamsoeddin. Key outcomes included agreements to boost maritime security cooperation in the South China Sea, conduct joint counter-terrorism exercises, and collaborate on cyber threats and transnational crimes. China also expressed a willingness to increase imports of Indonesian products. Both sides reaffirmed their commitment to free trade and promoting regional peace and stability. In Australia, seven people drowned in New South Wales over the Easter long weekend, marking the country's deadliest holiday period on record. The victims include a nine-year-old boy, who became trapped between rocks at a beach on Sunday afternoon. Surf Life Saving NSW described the weekend as "absolutely horrific," attributing the incidents to a combination of warm weather, dangerous swells, and risky behavior. The group said it performed more than 150 rescues during the holiday period. Authorities urged the public to swim only at patrolled beaches and to adhere to safety warnings. At the 2025 Laureus World Sports Awards held in Madrid on Monday local time, gymnast Simone Biles and pole vaulter Mondo Duplantis were honored as Sportswoman and Sportsman of the year. Biles won her fourth Laureus title, matching Tennis star Serena Williams' record, following her outstanding performance at the Paris Olympics, where the American earned three gold medals and one silver. Duplantis, who competes for Sweden, received his first Laureus award after winning his second Olympic gold and breaking his own pole vault record twice in 2024. Choi Chi-hee, Arirang News.
Qatar and Egypt propose new long-term Ceasefire Plan to Hamas
2025/04/22 17:00
In the Middle East. Qatar and Egypt have proposed a long-term truce to end the war in Gaza between Israel and Hamas. Citing a Palestinian Arab official the BBC says the two mediators suggested a ceasefire that includes a 5-to-7 year pause in fighting the release of all hostages in return for Palestinian Arab prisoners in Israeli jails as well as a complete withdrawal of Israel from Gaza. The official also reportedly told the BBC that Hamas is ready to hand over the governance of Gaza to quote "any Palestinian entity agreed upon at the national and regional level".
Lee Jae-myung shares vision for medical system and environment; PPP's first round cut-off to come soon
2025/04/22 17:00
On the political front here. Partisan primaries remain heated and for details I have my colleague Kim Do-yeon live on the line. Do-yeon it's good to have you on. Let's begin with the Democratic Party that appears to have a clear front-runner. Sun-hee, the front-runner, Lee Jae-myung was forced into a quiet day on the campaign trail as he appeared in court for one of his ongoing criminal trials. Still, he took to social media earlier in the day to highlight his pledges—ranging from cutting carbon emissions and reducing plastic use, to pushing forward with changes in the medical system. Tomorrow marks the start of the second half of the regional primaries—starting with the southwest, covering the Jeolla-do Provinces and Gwangju City. A liberal stronghold, this region accounts for 27 percent of the Democratic Party's total electors—more than the 18 percent combined from the previous two voting regions, the Chungcheong-do and Gyeongsang-do provinces. Lee Jae-myung, who has so far secured 90 percent of the vote, is expected to travel to the region on Thursday. The candidate in second place, Kim Dong-yeon, laid out his development plans for the region today, while third-place Kim Kyung-soo—looking to turn things around—was the first to arrive there. I see. Let's now turn to the People Power Party with its full house of presidential contenders. What's the latest there? Right, Sun-hee. The first round cut-off among the eight contestants will be coming out at around six thirty today. The results of this 100-percent open survey of the PPP and undecided voters will leave four contestants to head into the next round. The polling closed at 3 PM today, according to the PPP. Until now, according to various polls Kim Moon-soo, Han Dong-hoon, and Hong Joon-pyo seem to have made the cut with Ahn Cheol-soo and Na Kyung-won fighting for the fourth and the last spot. Now, the 100-percent open survey of the PPP and undecided voters aimed to give a boost to candidates who appeal to undecided voters so we'll have to see how that decides the fate of the candidates. However, starting with the second round cut-off, the voting will be comprised of 50-percent eligible PPP electors and 50-percent an open survey. Right away, the second round of the primary will begin with a media day on Wednesday and a debate on Thursday. All right Do-yeon thank you for the latest on the partisan primaries ahead of Korea's presidential election on June 3rd.
S. Korean gov't extends fuel tax cuts with partial rollback amid falling oil prices
2025/04/22 17:00
The government is planning a partial rollback of its tax cuts on fuel in light of falling global oil prices. The current rates are set to expire at the end of this month and the new rates will be in place until the end of June. Accordingly come May the tax break for gasoline will be eased to 10 percent from 15 percent while for diesel the cut will be adjusted to 15 percent from the current 23 percent. Such relief measures have been in place since late 2021.
S. Korea-U.S. tariff talks to move towards "win-win solution": Acting Pres. Han
2025/04/22 17:00
Acting President Han Duck-soo believes the planned TWO-PLUS-TWO trade talks between Seoul and Washington will lead to a "win-win solution." Speaking at a Cabinet meeting on this Tuesday Han pointed out that the talks were proposed by Washington and will take place this coming Thursday in Washington D.C. Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun will meet with U.S. Treasury Secretary Scott Bessent and the U.S. Trade Representative Jamieson Greer. On the agenda are tariff consultations and prospects of partnership in shipbuilding and energy. Minister Choi departed for the U.S. earlier today to also attend the G20 meeting of finance ministers and central bank governors. The meeting will be held in conjunction with the IMF and World Bank Spring Meetings.
How does Conclave elect new pope?
2025/04/22 17:00
The passing of Pope Francis also looks to initiate the procedure of electing a new leader of the Catholic Church. Our Choi Soo-hyung walks us through that protocol. "With key." That's the literal meaning of Conclave, which comes from the Latin "cum clave." In the Catholic Church, the Conclave is the secret meeting of cardinals, under the age of 80, held to elect a new pope. The meeting takes place 15 to 20 days after the pope's death, leaving enough time for a nine-day mourning period and funeral, with cardinals from around the world arriving in Rome. The current Conclave traces its roots back to the 13th century. Traditionally, the pope is buried four to six days after his death. The process of electing the 267th pope begins after the mourning period. For this Conclave, 138 cardinals are eligible to elect and to be elected as the new pontiff out of the 252 members of the College of Cardinals. During the Conclave, the cardinals are locked inside the Sistine Chapel until the new pontiff is chosen. They cast four ballots each day, with a two-thirds majority required to choose the pope. The cardinals are not allowed contact with the outside world, no phones, no television, and no newspapers. After each vote, the ballots are burned, and the smoke coming from the chapel's chimney is the only signal to the outside world. Black smoke means an inconclusive vote, while white smoke marks the election of a new pope. Once elected, the bells of the Sistine Chapel ring, and after the chosen candidate accepts the office, an official announcement is made, revealing the new pope's papal name. Pope Francis, elected on March 13th, 2013, was chosen after five rounds of voting, just two days into the Conclave. The senior cardinal deacon introduces the newly elected pontiff with the traditional declaration, "Habemus Papam," meaning "We have a pope." Following Pope Francis, the first Latin-American pontiff, all eyes are now on whether the next pope, for the first time, could come from Asia or Africa. Choi Soo-hyung, Arirang News.
On-point: Finance minister Choi Sang-mok off to U.S. for trade talks with Trump administration
2025/04/22 10:00
South Korea's finance minister Choi Sang-mok is off to the U.S. today to attend his first round of high-level trade negotiations with the Trump administration with a lot on his shoulders to draw out a breakthrough for his country. We turn to Professor Shin Se-don for more. Good morning. 1. Should we not be surprised to see Trump attend the discussions? 2. What do you think the U.S. side will seek to get out of the meeting this time? 3. How should South Korea respond to Washington's possible attempt to deal with trade and defense issues in a single package? 4. What would be the best outcome for the South Korean side to bring home from this week's meeting? 5. The meeting later this week will mark the first such round of tariff talks between Seoul and Washington, and it could take multiple rounds of talks over the course of next weeks or even months. Thanks so much for joining us this morning.
How Trump's tariffs will impact S. Korea's exports after 90-day pause ends
2025/04/22 10:00
In the meantime, Trump's merciless tariffs are already being reflected in South Korea's exports to the U.S. Outbound shipments in the first 20 days of April dropped over 14 percent. Our Lee Soo-jin tells us more. South Korea's exports declined during the first 20 days of April, reflecting an early impact of the U.S. administration's tariffs on global trade. According to the Korea Customs Service on Monday, outbound shipments stood at 33-point-9 billion U.S. dollars during this period, down 5-point-2 percent from the previous year. This, despite the number of working days during the period being the same as last year. The drop in exports comes as shipments to the U.S. showed a notable drop of 14-point-3 percent year-on-year, which the agency attributed to the tariffs. The U.S. set a 25 percent "reciprocal tariff" rate on South Korea, but President Donald Trump announced a 90-day pause on its implementation earlier this month for most nations. This means that as of now for Korea, a base tariff rate of 10 percent is in place, along with 25 percent tariffs on specific items, namely automobiles, steel and aluminum. But with these tariffs already contributing to a more than 5 percent year-on-year decline in exports during the first 20 days of April, concern is growing over a sharper downturn once the 90-day pause expires. "During the 90-day pause, there's uncertainty on two fronts, how the U.S. will proceed, and what kind of negotiations with South Korea will take place. But with base tariffs of 10 percent already in effect since April 6th, export figures aren't expected to improve anytime soon." Shipments of nine of the country's top ten export items, including automobiles and oil products, all saw declines, while only chip exports rose. But it's unclear whether shipments of semiconductors will remain strong with Trump expected to announce chip tariffs sometime this week. "But the tariffs will be in place in the not distant future because, as you know, like we did with steel, like we did with the automobiles, like we did with aluminum, we'll be doing that with semiconductors, with chips, " The same expert said that because uncertainty is a key factor, in the upcoming trade talks with the U.S., South Korea should not rush to conclude negotiations, but instead focus on understanding Washington's intentions and demands. Lee Soo-jin, Arirang News.
Putin announces resumption of fighting as Easter ceasefire ends
2025/04/22 10:00
Russian President Vladimir Putin announced on Monday that fighting has resumed after the Ukraine conflict's Easter ceasefire came to an end. According to Russia's state-run TASS, Putin met with local reporters to give the update, but added he would consider Ukrainian President Volodymyr Zelenskyy's proposal to halt drone and missile strikes on civilian facilities for 30 days. Putin added that during the Easter ceasefire, Ukrainian forces committed nearly 5-thousand ceasefire violations, but noted that "overall, enemy combat activity decreased," something he said he welcomed.