The South Korean government announced on the 15th that it will send non-lethal military supplies to Ukraine, which is fighting against Russia’s invasion. Boo Seung-chan, spokesperson of the Ministry of National Defense, said at the regular briefing, “The government has decided to supply non-lethal military supplies to Ukraine.” Spokesman Boo said, “As for details, including transportation and other issues, the consultations […]
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South Korea to provide Ukraine with military materiel except for weapons: Defense Ministry
South Korea has decided to provide Ukraine not only with humanitarian assistance but also with military material except for weapon systems, amid Russia’s military operation in the country, South Korean Defense Ministry spokesman Boo Seung-chan said on Tuesday. “Our government has decided to provide Ukraine with military equipment but not weapon systems. […]
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South Korea bans transactions with Russian Central Bank
The Korean government has imposed additional sanctions against Russia, including suspension of transactions with the Russian central bank. The Ministry of Foreign Affairs said on Monday, “Following the sanctions against Russia taken effect since March 1, Korea has decided to join additional sanctions such as banning transactions with Russian central bank in consideration of the […]
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Ukraine crisis expected to have serious impact on South Korea’s economy
The South Korean government predicted that Russia’s invasion of Ukraine would have a much more serious impact on Korea’s economy than expected. In response, the government is planning to diversify import lines for major import items, including core materials needed for chip production such as neon and krypton. From this […]
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South Korea: Hyundai Motor Group to be seriously affected by Russia-Ukraine war
As strong sanctions have been imposed on Russia, Hyundai Motor Group, which has the second-largest share in the Russian market, is also expected to be seriously affected. In particular, the Russian market is the fourth-largest market after Korea, the U.S., and Europe for Kia Motors, the loss of Hyundai Motor and Kia is expected to reach 450 […]
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South Korea support P5 Summit pledge to avoid nuclear war and arms competition
The South Korean government announced on the 4th that it supports the pledge signed by five nuclear-weapon states at the P5 Summit to avoid nuclear war and arms competition. It also said that it will make efforts to contribute to global denuclearization. The Foreign Ministry spokesperson said, “The Korean government is […]
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South Korea exports hit all-time high in 2021
With the strong sales of major industries and growth of new industries, South Korea’s exports posted USD 644.5 billion, the highest ever, in 2021. The trade amount, which encompasses exports and imports, also hit a record high of 1.2596 trillion won, ranking 8th in the world in nine years. According to the ‘2021 Annual Export […]
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Unidentified person crosses militarized border from South Korea to North Korea
An unidentified person crossed the heavily militarized border from South Korea into North Korea on Sunday. As per the South Korean military, the person was spotted at the eastern front of the Demilitarized Zone (DMZ) at around 9:20 pm local time on Saturday, reported CNN. South Korea’s Joint Chiefs of Staff (JCS) said that the person was […]
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IAF Chief starts four-day visit to South Korea
Chief of Air Staff (CAS) Air Chief Marshal VR Chaudhari began a four-day visit to South Korea on Monday to further enhance bilateral military ties. During his visit, IAF Chief will visit key defence establishments and call on the country’s top defence military officials. “Air Chief Marshal VR Chaudhari CAS is on a four-day official visit to […]
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South Korea to focus on containing Covid-19 Omicron strain
South Korea will focus on containing the new Omicron coronavirus strain until the end of the year since it poses an apparent threat, South Korean Prime Minister Kim Boo-kyum said on Monday. “The threat of the omicron variant is becoming apparent. Although we do not have a clear grasp of the omicron variant, what looks certain […]
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South Korea to supply 27.9 million tons of clean hydrogen by 2050
The South Korean government will supply 27.9 million tons of hydrogen annually as 100 per cent clean hydrogen by 2050. It is expected to generate an economic effect of 1,319 trillion won and reduce more than 200 million tons of greenhouse gas. The government announced on November 26 that five agendas, including […]
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Australian ministers will embark on joint visit to Indonesia, India, South Korea, US
Australia’s Foreign Minister Marise Payne and Defence Minister Peter Dutton will be visiting Indonesia, India, South Korea and the United States, Australia’s Foreign Ministry said in a statement on Wednesday. This joint visit will attempt to advance Australia’s relationship with their close friends and strategic partners in the Indo-Pacific region, […]
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South Korea: Stock prices of LG Electronics, Innotek increases
As the news of automobile cooperation with Apple and LG Group has emerged, the stock prices of related companies such as LG Electronics surged on the 3rd. In the securities market on this day, LG Electronics closed at 153,500 won, up 10.04 percent from the previous day. LG Innotek also jumped 6.37 […]
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South Korea Navy and UK Carrier Strike Group to conduct joint military drill, US will not participate
South Korean Navy and the UK carrier strike group will conduct a joint maritime military training. The US military, which was scheduled to join, will not participate in the drill. “Korean Navy and the U.K. carrier strike group will appoint each training commander and conduct search and rescue drills and maritime […]
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South Korea flag carrier to hire new pilots in preparation of ‘Post-Covid-19 Era’
In order to prepare increased passengers and cargo transport in the post-COVID-19 era, Korean Air is going to hire new pilots. Korean Air announced on the 19th that it will recruit new pilots, who have military experience or civilian experience, in 2022. It will receive application documents by the 27th of next month, and the number […]