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2025/06/12 20:00

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N. Korea appears to halt broadcasts of 'loud noises' following South's lead

2025/06/12 20:00

Peaceful silence is back in the border areas between the two Koreas. Following South Korea's suspension of propaganda broadcasts on Wednesday, the North followed suit the next day. Our correspondent Kim Bo-kyoung starts us off. North Korea's first response to the new South Korean administration's move, has been to mutually reduce tensions. Pyongyang appears to have paused its broadcasts of "loud noises" toward South Korea on Thursday, following South Korea's suspension of loudspeaker messages the day before. According to the Joint Chiefs of Staff, the South Korean military has not detected any broadcasts since late last night, though it needs to see if the pause will continue. "There are no areas where we can currently hear the broadcasts. Though it stopped late last night, and there were certainly no broadcasts early this morning or at dawn, it is uncertain whether this will continue in the afternoon. We are keeping a close eye on the situation." This follows the South Korean military's move to halt loudspeaker broadcasts against the North in border areas the day before, in accordance with President Lee's order. "President Lee Jae-myung recently made this decision as a proactive measure to ease tensions, given the absence of any significant provocations from North Korea. This action is aimed at alleviating the military standoff between the two Koreas and opening the way for restoring mutual trust." The halt came for the first time in a year, since the former administration resumed the broadcasts last June, for the first time in six years, in response to North Korea flying trash-filled balloons across the border. For now, the JCS said there are no changes to scheduled plans to conduct training in border areas. With the first step taken to allay inter-Korean tensions, eyes are on whether this could serve as a momentum for President Lee to push his presidential campaign pledge: reversing the full suspension of the September 19th Inter-Korean Military Agreement. An expert says it won't be easy to do it quickly. "If things develop further, the restoration of inter-Korean communication and liaison channels could pave the way for dialogue. However, I believe there are still many obstacles to fully restoring the September 19 military agreement." As restoring the agreement is something that cannot be done unilaterally or preemptively, the expert added it should be pushed forward in a planned manner. Kim Bo-kyoung, Arirang News.

[Weather] Rainy season started on Jeju Island, rain nationwide this weekend

2025/06/12 20:00

The rainy season started on Jeju Island already today. It's a week earlier than usual and the third earliest rainy season ever. It will start to rain in Jeollanam-do Province and Gyeongsangnam-do Province by dawn tomorrow. By the end of the day, rain will spread to the southern parts of the Chungcheong-do provinces. As for the amount of rainfall, About 150 millimeters of strong rain is expected in Jeju Island and more than 200 millimeters in the mountainous areas. Some areas will have rain pouring at 20 to 40 millimeters per hour at some point. Heavy rain of more than 100 millimeters is forecast around the south coast and 5 to 40 millimeters in the Chungcheong-do provinces. Seoul, Daejeon, Daegu, Busan and Jeju will start off at 19 degrees Celsius. Daily highs will move up to 30 degrees in Seoul and Chuncheon, 28 degrees in Daegu and Gyeongju. Rain will continue until Monday across the country. That's all for Korea. Here are the weather conditions around the world.

New Korean President’s First Move: Economic Rescue Through Gov't Spending

2025/06/12 20:00

Following President Lee Jae-myung's election win last week, one of the biggest talking points is whether the government is going to come up with a supplementary budget. With the current economic situation, how much spending by the government is feasible and necessary is a question, but President Lee has been adamant about spending more. We have our economic correspondent, Kim Do-yeon, in the studio with us to give us more details. Now, Do-yeon, since a supplementary budget is coming, it's not a question anymore. That's right, Dami. First, it's been a bit more than a week, and Lee has been focusing on the economy. He, in fact, signed his first executive order to kick off an emergency economic response task force and met with them twice. On top of this, his first public appearance outside of the presidential office was his visit to the Korea Exchange yesterday. Now, let's listen to his acceptance speech, and see how he's trying to boost the economy. Now, notice he says the "nation's finances." So, we know government spending will increase. Before we get to it, let's also break down where the economy stands right now, as Lee called the current situation a "recession." Looking at the most recent data This comes against the backdrop of South Korea's economy struggling, with the Korea Development Institute labeling the current situation "subdued." For the first quarter, the nation's economy shrank. The country's gross domestic product from January to March shrank by point-two percent on quarter, unchanged from an estimate in April. Sectors like construction and services are struggling especially. 2. Right, so if there is a supplementary budget to tackle this, what can we expect? And, we know a speedy passing of the budget bill is expected as well. That's right, Dami, first and foremost, unlike the previous government, Lee has the backing of the parliament. Lawmakers from the DP are calling for at least 20 trillion won or 14.5 billion U.S. dollars. Let's take a listen to the then floor leader of the DP addressing this. "We'll introduce a supplementary budget to ease the burden on people's daily lives and deliver policies that make a real difference. At the same time, we won't stop investing in South Korea's future." The primary focus, just because this will affect everyone, seems to be boosting domestic spending. Now to achieve this, Lee has been for some time now calling for a universal cash payout for 250,000 Korean won for everyone. This could be a form of local currency as well. Some lawmakers also call for selective distribution. Now, this is something that will help the service sector, especially. We saw a drop in jobs in the hotels and restaurant sector for the first time in 15 months and the biggest drop since COVID-19. But domestic spending could help this. "Providing payments in the form of local currency can help boost the regional economy, so we could see a temporary increase in spending—particularly in sectors like services, lodging, and dining—which may lead to a slight uptick in employment. 3. Right, but are there concerns that this could lead to inflation if some sort of cash is distributed? That's probably the biggest concern for some of the opposing lawmakers. However, the Bank of Korea also agrees that boosting domestic spending is more urgent and a speedy supplementary budget is needed. On top of this, even with this second supplementary budget of the year, there won't be much of an impact on inflation. The bank did refrain from saying the right amount of money for the budget, but it did warn, of course, that too much will hurt the nation's economy later. This came through a written statement to a liberal lawmaker's questions today. 4. Right, now, the supplementary budget isn't just about this. It will also deal with certain industries, as the former floor leader said about the nation's future. That's right. There are certain industries that need help. One of the most struggling industries right now is the construction sector. It has been shrinking for some time. Take a listen to an expert on why it's so important to support this sector. "In construction, every 1 billion won in revenue creates around 12 jobs. It's an industry where working-class people—those who rely on labor to make a living—benefit the most." In addition, there needs to be investments made to ensure that industries struggling from U.S. tariffs can survive the hard times. This includes steel and auto makers. Plus, sectors like AI need consistent development, and funds could be used to make sure the nation's strategic industries don't lag behind. Alright Do-yeon, thanks so much for coming in today. Appreciate it.

Lee Jae-myung's "pragmatic diplomacy" begins, adapting to Washington's change of alliance approach

2025/06/12 20:00

Amid the flurry of first phone calls, and preparations for President Lee Jae-myung's diplomatic debut at the G7, it seems South Korea's bureaucracy is quickly moving to support the new administration's so-called pragmatic diplomacy --even without a new foreign minister having been named. Oh Soo-young has more. South Korea's new diplomatic doctrine under President Lee Jae-myung is quickly taking shape -and pragmatism is the keyword. Since his electoral campaign, Lee has repeatedly emphasised that while the Korea-U.S. alliance remains the "foundation" of Seoul's foreign policy,.. he intends to pursue a broader, more flexible diplomatic course — that does not shy away from engagement with China and Russia. Analysts say Lee's approach marks a notable shift from the previous Yoon Suk Yeol government's diplomacy, which aligned with former President Joe Biden's value-based cooperation with allies. Legislator Kim Joon-hyung, a former advisor to Moon Jae-in and former head of the Korea National Diplomatic Academy, frames it this way: "Yoon Suk Yeol said it was value-based diplomacy but in fact it is like almost like a Cold War kind of ideological camp --let's say, U.S.-Korea-Japan is the good side and North Korea, China, and Iran, Russia --these aren't. So divided into two worlds. So that means strategic war. By saying pragmatism, Lee's trying to go for national interests rather than ideological right and wrong things." Pragmatism is also needed, to reflect the shifting geopolitical reality. With the Trump administration's transactional approach to alliances resurfacing, South Korea faces hard bargaining over defense cost-sharing, 방위비 분담, trade, and industrial policy. "His target is more like old friends and allies, and by saying that he set it tariff so that means now is a payback time, so you should pay tariff to make trade relation more fair and he wants to correct the security umbrella so it's not free anymore. So these are, of course, not just Korea other allies in the whole world, but most upgraded or highest level of alliance is Korea Japan and NATO." To navigate such shifting dynamics, the Lee administration is signaling its desire to widen diplomatic options. In her inauguration speech on Wednesday, newly appointed Second Vice Foreign Minister Kim Jina emphasized collaboration with diverse players beyond Seoul's traditional partners. She said this would help reduce dependence on specific countries and contribute to securing autonomy and flexibility in Korea's diplomacy. With immediate challenges to address, the Lee administration this week appointed the first and second deputy foreign ministers,.. before it names a new foreign minister, which requires parliamentary approval. This, according to experts, signals the Lee administration's intention to swiftly coordinate and initiate policy, in accordance with the pragmatic diplomacy mantra,.. ahead of impending negotiations with the U.S., and global engagements, including at the G7 Summit starting June 15th. Oh Sooyoung, Arirang News.

President Lee holds phone calls with leaders of Australia, Vietnam

2025/06/12 20:00

And President also continues to engage with his foreign counterparts, today holding phone calls with the leaders of Australia and Vietnam. Our Presidential Office correspondent Song Yoo-jin reports. It was a busy day of diplomacy for President Lee Jae-myung on Thursday, holding phone calls with the leaders of two of South Korea's comprehensive strategic partners. In the afternoon, President Lee spoke with Australian Prime Minister Anthony Albanese. According to the Presidential Office, they pledged to strengthen cooperation in national defense, clean energy, and critical minerals, building on the long-standing trust and solidarity forged since Australia's participation in the Korean War in the 1950s. They also discussed working together to promote peace on the Korean Peninsula and to achieve meaningful progress on the North Korea nuclear issue. Cooperation for the successful hosting of the 2025 APEC Summit in Gyeongju City was mentioned as well, as both countries are founding members of the regional forum. Both sides agreed to hold in-person talks to discuss concrete ways. Earlier in the day, the South Korean leader spoke with Vietnamese President Luong Cuong. Similarly, their focus was on further developing their partnership. "The two leaders agreed to expand and deepen bilateral cooperation in strategic sectors such as high-speed rail and nuclear energy." President Lee requested Vietnam's continued interest and support for Korean companies operating there, to which President Cuong responded positively. Cuong also invited Lee to Vietnam, to which he said he looks forward to in-depth discussions to strengthen bilateral ties during his visit. "These are President Lee's fifth and sixth phone conversations with world leaders since taking office last Wednesday. His diplomatic efforts continue ahead of next week's G7 Summit in Canada, where he's expected to meet several of the leaders he spoke to, face-to-face. Song Yoo-jin, Arirang News.

President Lee orders prioritizing people's safety as Korea prepares for summer rainy season

2025/06/12 20:00

President Lee Jae-myung visited a local flood control center today ahead of the upcoming rainy season, putting emphasis on safety. At the same time, the new leader, who's just in his second week in office, has been bolstering communication with parliament and the press throughout the week. Our senior top office correspondent Yoon Jung-min reports. Appearing in a yellow civil defense uniform, South Korea's new president was at a flood control center of the Hangang River in Seoul on Thursday to check readiness as the nation braces for the summer rainy season. "Protecting our people's lives and safety and preventing disasters and damage, that's most important. Being better off, that's also important, but what's more important is protecting people's lives and their safety." Present at the meeting were related officials, where Lee called for an overhaul of flood-prone areas as well as the flood warning system. He went on to emphasize the responsibility of the officials in charge of public safety as he vowed to better empower them and improve compensation. Also in line with this, President Lee Jae-myung suddenly stopped by the alleyway in Seoul's Itaewon neighborhood, where the disastrous crowd crush claimed the lives of more than 150 people around three years ago. He laid flowers and observed a moment of silence at Memorial Alley. "Do you know who set up these boards?" On his way back to the office, he spoke with nearby merchants, asking them how their businesses were doing. Other than focusing on people's livelihoods during his second week in office, the new president has made a move to bolster communication with parliament. Lee's secretary for political affairs, Woo Sang-ho, paid a visit to the National Assembly for the third straight day on Thursday to meet the leadership of political parties, underscoring the need for cooperation across the aisle. It's taken as the president demonstrating his recognition of them as "partners" in charge of state affairs. Also conspicuous to the press corps covering the president was Lee unexpectedly stopping by at a cafeteria at the top office to have lunch and coffee with reporters in a casual setting, ---for three days in a row this week. It's widely seen as a move to bolster communication with the press at the early stage of his presidency.

North Korea's Kim Jong-un sends letter to Putin to mark Russia Day

2025/06/12 20:00

North Korean leader Kim Jong-un has sent a congratulatory letter to Russian President Vladimir Putin in honor of Russia Day. According to the North's state-run Korean Central News Agency on Thursday, in the letter, Kim called Russia a "brotherly" nation and said Pyongyang and Moscow share an "unbreakable comrade-in-arms" relationship. The letter was delivered by North Korean Ambassador to Russia Shin Hong-chol to Russia's Foreign Ministry to mark Russia Day on June 12th, a national holiday marking the formation of the Russian Federation. While North Korea's state media had traditionally released Kim's Russia Day letter without context since last year, the KCNA has also reported on the delivery process before publishing the full text. South Korea's Ministry of Unification said it doesn't see any particular significance in the latest exchange, as it was just a routine congratulatory message sent annually.

N. Korea refusing to accept letter from Trump: media report

2025/06/12 20:00

U.S. President Donald Trump may be looking to reopen talks with North Korea, but Pyongyang isn't picking up. A new report says the regime rejected a letter sent by Trump to Kim Jong-un. Our correspondent Kim Jung-sil has the story. A relationship once hailed as groundbreaking is back in the headlines. President Trump reportedly sent a letter to North Korean leader Kim Jong-un, hoping to revive stalled dialogue. According to NK News, citing a high-level source, multiple in-person delivery attempts to North Korean diplomats at the United Nations were made but each time, they "bluntly refused to accept it." Asked about the matter, the White House did not deny the report. "The president remains receptive to correspondence with Kim Jong-un, and he'd like to see the progress that was made at that summit in Singapore, As for specific correspondence, I'll leave that to the president to answer." Analysts say North Korea's refusal may reflect deeper dissatisfaction with Washington's unchanged stance toward Pyongyang. "North Korea likely remains deeply skeptical of exchanging personal letters when there's been no real change in what it sees as a hostile U.S. policy. For Kim Jong-un, rejecting Trump's letter also signals that his distrust of Trump still runs deep." At the same time, Pyongyang appears to be doubling down on its ties with Moscow. "North Korea is gaining significantly from its cooperation with Russia and moving toward a deeper strategic relationship. Engaging in close talks with the U.S. now could send the wrong signal to Moscow, so for Pyongyang, there's little incentive to accept Trump's letter." Experts say Pyongyang likely hasn't forgotten that some past letter exchanges were made public during Trump's first term, something the North might have viewed as both risky and disrespectful. With Trump's limited time in office, analysts say North Korea is unlikely to engage with the U.S. unless Washington signals a clear policy shift, possibly including sanctions relief or other long-sought concessions. For now, the letter remains unopened, and the future of U.S.-North Korea dialogue is just as sealed. Kim Jung-sil, Arirang News.

Pres. Lee pledges to make efforts to quickly restore dialogue channels with N. Korea

2025/06/12 20:00

Also on Thursday, President Lee Jae-myung pledged to make efforts to quickly restore dialogue channels with North Korea. In a statement delivered by his political affairs secretary on the 25th anniversary of the 2000 inter-Korean summit, Lee said he will end the exhausting hostilities, and restart dialogue and cooperation with Pyongyang. He added that his administration will do everything it can to build a peaceful, cooperative and thriving Korean Peninsula.

N. Korea appears to halt broadcasts of 'loud noises' following South's lead

2025/06/12 17:00

We start here on Korean peninsula. Just one day after Seoul turned off its loudspeaker broadcasts directed towards the northern regime Pyongyang appears to have done the same. Our correspondent KIM Bo-kyoung covers this apparent de-escalation in cross-border tensions. North Korea's first response to the new South Korean administration's move, has been to mutually reduce tensions. Pyongyang appears to have paused its broadcasts of "loud noises" toward South Korea on Thursday, following South Korea's suspension of loudspeaker messages the day before. According to the Joint Chiefs of Staff, the South Korean military has not detected any broadcasts since late last night, though it needs to see if the pause will continue. "There are no areas where we can currently hear the broadcasts. Though it stopped late last night, and there were certainly no broadcasts early this morning or at dawn, it is uncertain whether this will continue in the afternoon. We are keeping a close eye on the situation." This follows the South Korean military's move to halt loudspeaker broadcasts against the North in border areas the day before, in accordance with President Lee's order. "President Lee Jae-myung recently made this decision as a proactive measure to ease tensions, given the absence of any significant provocations from North Korea. This action is aimed at alleviating the military standoff between the two Koreas and opening the way for restoring mutual trust." The halt came for the first time in a year, since the former administration resumed the broadcasts last June, for the first time in six years, in response to North Korea flying trash-filled balloons across the border. For now, the JCS said there are no changes to scheduled plans to conduct training in border areas. With the first step taken to allay inter-Korean tensions, eyes are on whether this could serve as a momentum for President Lee to push his presidential campaign pledge: reversing the full suspension of the September 19th Inter-Korean Military Agreement. An expert says it won't be easy to do it quickly. "If things develop further, the restoration of inter-Korean communication and liaison channels could pave the way for dialogue. However, I believe there are still many obstacles to fully restoring the September 19 military agreement." As restoring the agreement is something that cannot be done unilaterally or preemptively, the expert added it should be pushed forward in a planned manner. Kim Bo-kyoung, Arirang News.

[Weather] Rainy season started on Jeju Island, rain nationwide this weekend

2025/06/12 17:00

The rainy season started on Jeju Island today. It's a week earlier than usual. Starting with Jeju Island today, the rain will spread to the Chungcheong-do provinces and the south tomorrow and to the whole country on Saturday. Looking at the expected amount of rainfall, there will be as much as 150 millimeters of heavy rain on Jeju Island and more than 200 millimeters in the mountainous areas. Some areas will have rain pouring at 20 to 40 millimeters per hour at some point. Heavy rain of more than 100 millimeters is expected around the south coast and 5 to 40 millimeters in the Chungcheong-do provinces. Seoul, Daejeon, Daegu, Busan and Jeju will start off at 19 degrees Celsius. Daily highs will move up to 30 degrees in Seoul and Chuncheon, 25 degrees in Gwangju and Jeju. The rain that covers the whole country on Saturday will continue until Monday. That's all for Korea. Here are the weather conditions around the world.

World News: More Palestinians killed near aid distribution point in Gaza

2025/06/12 17:00

This is the World Now, bringing you the latest stories from around the globe. In Gaza on Wednesday, at least 41 Palestinians were killed near food aid distribution centers according to Gaza Health officials. Of these, 25 deaths occurred as people gathered near the Gaza Humanitarian Foundation site in the Netzarim corridor, where reports say Israeli forces opened fire on those approaching the distribution area. The Israeli military states shots were fired as "warning shots" at those deemed "suspects" entering active combat zones. Since mid-May, when the U.S.-backed GHF began operations, over 160 Palestinians have died and more than 1,000 have been injured around its aid zones. The United Nations has condemned the violence and declined to supply aid via the foundation, which uses private contractors with Israeli military backup. Devastating floods have swept through South Africa's Eastern Cape province, killing nearly 50 and leaving many missing. Officials warn the death toll may rise. On Wednesday, at least 49 people were confirmed dead as heavy rain and even rare snowfall struck the region early on Tuesday, overwhelming rivers and causing mudslides around Mthatha and surrounding towns. Eastern Cape's provincial premier described the scene as catastrophic, saying, "As we speak here, other bodies are being discovered," and that "The numbers are just escalating hour after hour." A school bus was also washed away by floodwaters near Mthatha. Six high school students have been confirmed dead, three others rescued from trees, and four remain missing. The floods have damaged at least 58 schools and 20 hospitals. Hundreds of families have been left homeless and in temporary shelters. Weather officials warn that the extreme weather patterns could persist for several days, posing an ongoing risk. The United Kingdom and European Union, in collaboration with Spain, reached a political agreement on Wednesday, resolving Gibraltar's post-Brexit status. Under the deal, approximately 15,000 daily cross-border commuters will be able to enter Gibraltar using residence permits or national identity cards, eliminating routine passport stamp checks. At Gibraltar's airport and seaport, passengers' passports will be checked jointly by Gibraltar and Spanish authorities. UK Foreign Secretary David Lammy stated the agreement "protects British sovereignty" while boosting Gibraltar's economic stability. Spain and EU leaders welcomed the accord, calling it the removal of Europe's "last wall." Brian Wilson, the co-founder and frontman of the rock band The Beach Boys, died on Wednesday at the age of 82. Widely renowned for his genius songwriting, Wilson was known for his landmark tracks, including "Good Vibrations" as well as the 1966 album Pet Sounds. Wilson had battled dementia since early 2024, following the death of his wife. Beginning in 1961, the Beach Boys released a series of upbeat songs that celebrated aspects of California's youth culture, including surfing and romance. Tributes have poured in from across the music world, with Bob Dylan and Ringo Starr among those praising Wilson's enduring impact on music and culture. Choi Chi-hee, Arirang News.

Living legend author and illustrator, Anthony Browne's exhibition to showcase in Seoul

2025/06/12 17:00

For those of you here in Seoul who have yet to make weekend plans do consider a visit to an exhibition that shares the works of a renowned British children's author whose stories continue to delight readers of all ages. Our CHA Yun-kyung has more. The British author and illustrator Anthony Browne has dedicated his work "A Boy, His Dog and the Sea" to his late brother. The work illustrates the village where the artist is currently living. Browne has often shown the notion of opposites, such as "big" and "small," by, for example, showing various primates in "Big Gorilla: A Book of Opposites." He has also shared a warm look at the relationship between a grandfather and grandchild through "My Grandad." Browne, who is 78, has been illustrating daily life in his new picture books. Anthony Browne leads a step into a world of imagination and warmth for readers through the beautiful picture books with familiar characters and pastel colors. "Hidden clues and whimsical details in his illustrations invite visitors to discover references to famous artwork. The essence of Browne's storytelling is the combination of observation, dialogue, and imagination." Browne's stories explore a wide range of themes resonating with readers of all ages. Family members can enjoy his original artwork, including his latest unpublished creations. "It was so much fun to see the pictures that I had already seen from his book. It seemed like the characters came to life." Anthony Browne Exhibition: A Master of the Storytelling will be showcased at Hangaram Art Museum Gallery 3 and 4 of Seoul Arts Center until the end of September. Cha Yun-kyung, Arirang News.

LA protests die down, anti-Trump 'No Kings' protests scheduled for Saturday

2025/06/12 17:00

In Los Angeles. A ten-hour overnight curfew remains in place in parts of the city. for a second night as authorities seek to prevent vandalism and potential violent confrontations amid the presence of National Guard troops and the expected presence of Marines in the city. BYEON Ye-Young has the latest. Following the imposition of a nighttime curfew in key protest areas, the unrest in the City of Angels appears to be somewhat subsiding. LA Mayor Karen Bass ordered an 8 PM to 6 AM curfew in downtown neighborhoods, with AP News reporting a notably quieter night and no visible presence of Marines or the National Guard. The measure, aimed at preventing looting and vandalism, led to over 200 arrests for violating dispersal orders or carrying weapons. Protests have since expanded to at least 24 cities nationwide, with mass arrests reported in New York, Chicago, Philadelphia, and Denver. California Governor Gavin Newsom has strongly condemned President Trump's military deployment in Los Angeles. "This brazen abuse of power by a sitting president inflamed a combustible situation, putting our people, our officers, and even our National Guard at risk." The governor has filed a lawsuit and emergency injunction to halt military patrols in LA, with a court hearing set for June 12th. "If the court agrees, sanctuary states can refuse federal forces. The administration may appeal to the Supreme Court before the election. Other sanctuary states like New York or Illinois could do the same. At the same time, more conservative states might ask for federal help. So some cities could have troops and others won't." A nationwide protest called the "No Kings" movement is set for Saturday, coinciding with both Trump's birthday and a military parade marking the Army's 250th anniversary. According to AP News, organizers say it could be the largest single-day demonstration since Trump's return to office, with millions expected to rally across all 50 states. Byeon Ye-young, Arirang News.

U.S. Treasury Secretary signals that U.S. may extend tariff pause for certain nations

2025/06/12 17:00

America's trade partners including South Korea are now counting down less than one month to the end of the pause in reciprocal tariffs come early July and talk of a possible extension of the tariff relief for some countries has been floated around. LEE Soo-jin reports. The U.S. may extend tariff breaks for countries pursuing trade negotiations in "good faith." Treasury Secretary Scott Bessent, who is leading U.S. trade talks, said in a congressional hearing on Wednesday that the U.S. might extend the 90-day pause on reciprocal tariffs for certain countries. He mentioned that there were 18 important trading partners that the Trump administration is working towards reaching an agreement with. But President Donald Trump also told reporters on Wednesday that while he was willing to extend the 90-day pause, he did not believe that it would be necessary. He also revealed that the U.S. will send trade offer letters to dozens of countries within two weeks that they could either accept or decline. The 90-day pause on reciprocal tariffs that were announced on April 9th is set to expire on July 9th. This has led South Korea's newly elected administration to prioritize reaching a trade agreement with the U.S., with President Lee Jae-myung expressing a shared commitment to a deal during his first call with President Trump. There are also expectations that the two leaders will continue discussions at next week's G7 summit in Canada. Bessent's remarks come after the U.S. announced that it had reached a framework agreement with China during its second high-level trade talks held in London, though specific details have yet to be disclosed. "Dozens of countries have engaged the administration thus far with offers to improve their trade relations with the United States. This includes China. I have just returned in the middle of last night from successful negotiations in London with a Chinese delegation, " The Trump administration has so far announced a comprehensive agreement with the UK and a framework deal with China that serves as a stepping stone to eventually negotiate a full-fledged trade agreement. And as it remains a framework deal, Bessent acknowledged that negotiations with China are likely to be a lengthy process, signaling that while key issues like Beijing's export controls on rare earths critical to advanced tech and defense were addressed, broader trade disputes remain. But active negotiations, not just with China but other countries as well, are expected to continue, especially with the U.S. federal appeals court ruling on Tuesday that the tariffs can remain in effect until the court completes its full legal review. Lee Soo-jin, Arirang News.

Top aide Woo Sang-ho wraps up three-day calls on party leaders

2025/06/12 17:00

The Presidential Secretary for Political Affairs was at the parliament on this Thursday afternoon to meet with the leaders of two minority parties. Woo Sang-ho paid a courtesy call on Basic Income Party leader Yong Hye-in before seeking out Social Democratic Party leader Han Chang-min . Since this past Tuesday Woo has been making social calls on the leaderships of political parties including those of the ruling Democratic Party and the opposition People Power Party in line with the new administration's efforts to usher in a process of "unity and solidarity" for state affairs.

Leaders of S. Korea, Vietnam agree to broaden cooperation in first phone call

2025/06/12 17:00

President Lee Jae-myung spoke with his Vietnamese counterpart Luong Cuong earlier this morning to mark his fifth phone call with a foreign leader since taking the top office. According to Presidential Spokesperson Kang Yu-jung the two leaders agreed to advance cooperation in sectors such as high-speed rail and 고속철도 및 원자력 에너지와 같은 분야에서의 협력 증진에 합의했습니다. nuclear energy within the framework of their comprehensive strategic partnership. President Lee for his part also called for continued support of Korean businesses in Vietnam while President Cuong extended a cordial invitation to Vietnam.

S. Korea's ICT exports rise 9.6% in May on rising demand for chips

2025/06/12 17:00

Korea's ICT exports soared almost ten percent on year in May and pundits here believe the rise reflects U.S. efforts to secure inventory ahead of a full-blown tariff campaign. MOON Ji-young explains. Despite the uncertainty surrounding the Trump administration's tariff policy, South Korea's exports in the ICT sector maintained an upward trend last month, driven by robust chip sales. According to data released by the Ministry of Trade, Industry and Energy on Thursday, ICT exports in May reached almost 20-point-9 billion dollars, up 9-point-6 percent year on year. This marks the best performance for any May since records began. Outbound shipments of semiconductors, the largest export item, surged by more than 21 percent on-year, fueled by strong demand for AI-related chips. That is also a new record high for May. This performance was also driven by the rebound in fixed prices of major products like DRAM and NAND flash chips, as well as continued solid exports of high-value memory such as HBM. While mobile phone shipments increased almost 3 percent year-on-year, exports of computers and communications equipment(2 percent ) rose nearly 2 percent. However, an expert expressed concerns that this growth may be only temporary. "This is before the full impact of the tariff effects has really kicked in. What we're likely seeing is a move to build up inventory ahead of potential price increases. However, this isn't a normal inventory cycle, and there's a view that once this stock has been accumulated, sales could see a sharp downturn afterwards." Meanwhile, exports of display panels declined by more than 17 percent. By country, exports to the U.S. rose more than 7 percent on-year thanks to strong sales of mobile phones, while shipments to Vietnam, the EU, and Japan also climbed. In contrast, exports to China, South Korea's top export destination, fell 6-point-8 percent due to a decreased demand for chips. Meanwhile, ICT imports totaled over 11-point-5 billion dollars, resulting in a positive ICT trade balance. Moon Ji-young, Arirang News.

President Lee picked economy as first priority, how will supplementary budget help?

2025/06/12 17:00

A major task of the new administration is to hammer out a supplementary budget to boost spending and to bolster the economy. So where do we stand? Our business correspondent KIM Do-yeon tells us. As President Lee Jae-myung started his term right after winning the election on June 4th, he picked the economy as his number one priority. He, in fact, kicked the task force off as his first executive order has called two meetings so far. This comes against the backdrop of South Korea's economy struggling, with the Korea Development Institute labeling the current situation "subdued." For the first quarter, the nation's economy shrank. The country's gross domestic product from January to March shrank by point-two percent on quarter, unchanged from an estimate in April. During the second meeting the first thing he ordered the task force to look into was a supplementary budget. Plus, President Lee has the backing of the parliament, with the ruling Democratic Party holding the majority to pass with DP lawmakers calling for at least 20 trillion Korean Won or 14.5 billion U.S. dollars. "We'll introduce a supplementary budget to ease the burden on people's daily lives and deliver policies that make a real difference. At the same time, we won't stop investing in South Korea's future." While the specifics are yet to come out, one thing to look out for is the distribution of cash. Lee has been pushing for a universal payment of 250,000 won to everyone. This is something that could help certain industries, especially with hotels and restaurant businesses struggling due to weakened spending. "Providing payments in the form of local currency can help boost the regional economy, so we could see a temporary increase in spending—particularly in sectors like services, lodging, and dining—which may lead to a slight uptick in employment." Meanwhile, taking on prices is another issue. Universal payments could raise concerns over inflation. On the other hand, the Bank of Korea has actually backed the supplementary budget, and it wouldn't affect the inflation too much. In fact, the BOK says a speedy one is necessary. Another expert also said the supplementary budget needs to focus on the construction sector to support the national economy. "In construction, every 1 billion won in revenue creates around 12 jobs. It's an industry where working-class people—those who rely on labor to make a living—benefit the most." In addition, there needs to be investments made to make sure industries struggling from U.S. tariffs can survive the hard times. This includes steel and auto makers. Plus, sectors like AI need consistent development, and funds could be used to make sure the nation's strategic industries don't lag behind. Kim Do-yeon, Arirang News.