South Korea

May 13, 2024 4:17 PM

South Korea’s top diplomat warns of rising economic competition with China

Economic relations between South Korea and China face risks and challenges due to increasingly fierce competition over technology, South Korea's Foreign Minister Cho Tae-yul said on Monday ahead of talks with his Chinese counterpart. Cho arrived in Beijing earlier in the day, marking his first trip to China since taking office in January and the first visit to the country by a South Korean foreign minister in more than six years. At a meeting with South Korean business leaders, Cho said that...

May 9, 2024 10:39 AM

In rapidly aging China, millions can’t afford to retire

China's latest statistics showed some 94 million working people - around 12.8% of China's 734 million labour force - were older than 60 in 2022, up from 8.8% in 2020. That share, while lower than in wealthier Japan and South Korea, is set to skyrocket as 300 million more Chinese reach their 60s in the coming decade. A third of this cohort are rural migrants, who typically lack the professional skills for an economy aspiring to move up the value chain. The main reason China has not built a str...

May 3, 2024 11:31 AM

South Korea to slap fines on food suppliers for ‘shrinkflation’

South Korea's antitrust regulator said on Friday food makers and suppliers will be required to notify shoppers if they reduce the size of their products or face fines of up to 10 million won ($7,300). The Fair Trade Commission (FTC) said it has designated the practice of some businesses to cut product portions while keeping the price the same, or so-called shrinkflation, as an unfair transaction subject to penalties. Most processed food makers and manufacturers of household supplies such as to...

SEOUL, SOUTH KOREA - 2024/02/27: Trees are decorated with Taegeukgi, South Korea's national flags at the entrance to Hyochang Park in the center of Seoul to commemorate Korean Independence Movement Day. The Korean Independence Movement Day, also known as the March 1st Movement, was an important protest movement of Koreans in early 1919 demanding independence from Japan and an end to forced assimilation into Japanese culture. (Photo by KIM Jae-Hwan/SOPA Images/LightRocket via Getty Images)

May 1, 2024 11:24 AM

South Korea discusses joining part of AUKUS pact with US, UK and Australia

South Korea has held talks about joining part of the AUKUS defence deal between the U.S., Britain and Australia, Defence Minister Shin Won-sik said on Wednesday, only weeks after the pact said it would consider including Japan. Formed in 2021, AUKUS is a two-stage security pact to counteract China's growing power in the Asia Pacific region. While a first stage to give Australia nuclear submarine technology is limited to the core trio, they have raised the possibility of other countries j...

April 27, 2024 10:00 AM

South Korea, India hold consultations on Disarmament, Non-Proliferation in Seoul

India-Republic of Korea Consultations on Disarmament and Non-Proliferation were held in Seoul on Friday, the Ministry of External Affairs said. The two sides discussed developments in the fields of disarmament and non-proliferation rating to nuclear, chemical and biological domains. Moreover, regional non-proliferation issues, outer space security- related matters, conventional weapons including AI in the military domain and multilateral export control regimes, were also discussed, the MEA ...

April 22, 2024 3:34 PM

North Korea fires ballistic missiles, South Korea, Japan say

North Korea fired "several" short-range ballistic missiles on Monday toward the sea off its east coast, South Korea's military said, drawing a swift condemnation from Seoul, which called it a grave threat to stability on the Korean peninsula. A Japanese government alert and its coast guard also said North Korea had fired what appeared to be a ballistic missile. The projectile appeared to have landed outside Japan's exclusive economic zone area, the NHK broadcaster said. South Korea'...

April 2, 2024 10:57 AM

North Korea fires suspected intermediate-range ballistic missile

North Korea fired a suspected intermediate-range ballistic missile into the sea off its east coast on Tuesday, South Korea's military said, in a move that sparked immediate condemnation from the prime minister of Japan. South Korea's Joint Chiefs of Staff said that it detected the launch of what appeared to be a ballistic missile of an intermediate-range class from the area of the North Korean capital Pyongyang on Tuesday at 0653 a.m. (2153 GMT on Monday). It flew about 600 kms (372 miles) bef...