SOUTH KOREA VIETNAM COOPERATION

South Korea's main conservative party nominates Kim Moon Soo as its presidential candidate
Kim Moon Soo, a former Labor Minister and conservative figure, secured the presidential nomination for South Korea's main conservative party. He faces a challenging election against liberal front-runner Lee Jae-myung. Kim aims to unite conservative forces to improve their chances, following the impeachment and dismissal of President Yoon Suk Yeol, a key issue within the party.

South Korea's conservative party picks Kim Moon-soo as presidential candidate
Kim Moon-soo is the People Power Party's pick for South Korea's presidential election. This follows Yoon Suk Yeol's removal. The Constitutional Court ousted Yoon for his martial law declaration. Kim, a former labour minister, will face Lee Jae-myung. Lee currently leads in the polls. Kim promises business-friendly policies. The election is set for June 3.

Asia’s factories suffer major blow as tariffs dampen demand
Manufacturing activity in Asia contracted in April, impacted by weaker demand and Trump's tariffs, particularly affecting South Korea and Taiwan. While Southeast Asia also experienced a slowdown, India and the Philippines showed expansion.

US, India fast-track $500 bn trade deal as JD Vance visits amid global tariff unrest
Amidst US-China trade tensions and reciprocal tariffs, Vice President JD Vance's visit to India underscores the urgency of finalizing the Bilateral Trade Agreement (BTA). Both nations aim to boost trade to $500 billion by 2030, focusing on energy, defense, and technology.

South Korea lurches from one political crisis to another
South Korea faces political turmoil as it prepares for a presidential election amidst uncertainty. Former President Yoon Suk Yeol's impeachment and subsequent leadership changes have destabilized the nation. Key candidates, including Lee Jae-myung and Han Duck-soo, face legal challenges and party negotiations, further complicating the path to stability and raising concerns about the future of South Korean governance.

South Korea's acting leader Han resigns amid reports he will run for presidential election
South Korea's acting President Han Duck-soo resigned, signaling his anticipated entry into next month's presidential election. Han, a potential conservative candidate, aims to unite the party against liberal front-runner Lee Jae-myung. His extensive experience in government and economics is touted by supporters, while critics question his lack of elected office and leadership.
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Top South Korea court overturns not-guilty verdict of election frontrunner
South Korea's political landscape is in turmoil as the Supreme Court overturned a lower court's decision, potentially jeopardizing Lee Jae-myung's presidential bid due to election law violations. This ruling comes after ex-president Yoon Suk Yeol's impeachment.
North Korea and Russia begin building their first road link
North Korea and Russia have initiated the construction of their first road link, a bridge over the Tumen River, hailed as a significant step in bolstering their burgeoning relationship. This project, expected to take 1 ? years, aims to enhance cross-border travel, tourism, and trade.
Japan, China, South Korea, ASEAN to expand currency swap programme, Nikkei says
Japan, China, South Korea and ASEAN plan to broaden their currency swap programme. The expansion aims to include infectious disease outbreaks and natural disasters. The Chiang Mai Initiative, a $240 billion pool, supports regional financial stability. Members will likely agree on the expansion in Milan. The change is expected to take effect in May.
Apple exports 97.6% of iPhones to US from India amid tariffs: Report
With Beijing retaliating against the US action, the reciprocal tariff on China has gone up to 245% for some products. However, consumer electronics items including smartphones and laptops have been exempted from reciprocal tariffs. The Trump administration will announce special tariffs for these products, sometime in May.
Kim Jong Un oversees warship weapons test-fire, eyes nukes for N. Korea navy
North Korean leader Kim Jong Un has ordered the rapid nuclear armament of naval vessels, following the first test-firing of a new warship weapons system. The newly unveiled 5,000-ton destroyer-class vessel, Choe Hyon, is expected to be equipped with tactical nuclear missiles.
Hundreds of North Korean troops killed while fighting Ukraine, Seoul says
South Korean lawmakers reported that approximately 600 North Korean soldiers have died out of 15,000 deployed to fight for Russia in Ukraine. In exchange for troops and weapons, North Korea has received technical assistance on spy satellites, drones, and anti-air missiles. North Korean troops' combat capabilities have improved through the use of modern weaponry.
Samsung Electronics drops Q2 outlook due to trade uncertainties
Samsung Electronics raised Q1 profit 1.2% to 6.7 trillion won but cut its outlook due to US tariffs and AI chip export restrictions. Smartphone profits rose 23%, while chip profits fell 42%. The company may relocate production and expects solid Q2 chip demand but warns of weaker demand later this year.
Samsung Electronics posts 22% jump in Q1 net profit
South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs. The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January-March quarter, up 21.7 percent on-year.
North Korea test-fires missiles from its newly launched destroyer
Kim Jong Un oversaw the first missile tests from North Korea's new destroyer, emphasizing the need to bolster the navy's nuclear capabilities. He aims to expand the military's operational range and preemptive strike capabilities. Amid rising tensions and military cooperation with Russia, Kim highlighted the importance of deterring U.S.-led hostilities.
Stainless steel industry urges govt to take measures to protect domestic players
The Indian stainless steel industry is seeking government intervention through safeguard duties to combat a surge in cheap finished steel imports, primarily from China and ASEAN countries. Local manufacturers are struggling with high costs and unfair competition, threatening the 'Make in India' initiative. The industry plans to address these challenges at the upcoming Global Stainless-Steel Summit 2025.
With China and the US at intense economic odds, other nations are being forced to choose sides
As trade tensions escalate between the U.S. and China, countries are hedging their bets by strengthening ties with Beijing. Trump's tariffs are disrupting global trade, prompting nations to seek stability and predictability with China.
Is Donald Trump losing trade war? America's allies are slowly leaning towards China
Donald Trump's trade policies are causing shifts in global alliances. America's allies are seeking economic stability with China. Trump's tariffs impact American companies. Shipping containers at the Port of Los Angeles are down. Xi Jinping is strengthening ties with Vietnam, Malaysia, and Cambodia. China is reaching out to Japan and Europe. Nations are losing confidence in the United States.
DeepSeek available to download again in South Korea after suspension
DeepSeek, the Chinese artificial intelligence platform, is available again on South Korean app markets. Downloads were suspended due to data protection issues. South Korea's Personal Information Protection Commission raised concerns about unauthorized user data transfers. DeepSeek has since revised its privacy policy. Users can now opt out of transferring personal information.
DeepSeek discloses Korean version of revised info processing policy
DeepSeek also sent what users entered into the prompts to Volcano, a Chinese company affiliated with ByteDance, the parent company of Chinese social media platform TikTok, the PIPC said, asking the Chinese company to faithfully establish legal grounds for its overseas information transfers, immediately destroy the prompt information and disclose its Korean-language information processing policy.
North Korea confirms it dispatched troops to Russia to support its war against Ukraine
North Korea has officially acknowledged deploying troops to Russia to aid in its war against Ukraine, citing a mutual defense treaty. Kim Jong Un stated the troops' mission is to "annihilate" Ukrainian forces and liberate the Kursk area alongside Russian forces.
Export-ready Asian Countries lead the race for interim deals to avoid tariffs
Asian economies are proactively engaging in trade talks with the United States. This is to mitigate the impact of potential tariff increases. South Korea and Japan are aiming for interim agreements. These agreements are to secure tariff exemptions before the deadline. Treasury Secretary Scott Bessent mentioned ongoing negotiations with 17 US trading partners. Talks with Asian countries are progressing well.
Russia admits North Korean troops fought alongside its forces in Ukraine
Russia has publicly acknowledged the participation of North Korean troops in its ongoing war against Ukraine. For the first time, Moscow admitted that North Korean soldiers played a significant role in the recent conflict in the Kursk border region, which is situated near the Ukrainian frontier. The announcement was made by Russia's Chief of General Staff, Valery Gerasimov, during a video conference with President Vladimir Putin. However, the claims have been challenged by Ukraine, which denies Russia’s assertions of a complete victory in the area.
K-tech plugs into India to light up electronics
LG Electronics is expanding its operations in India for exports, prompting its Korean component manufacturers to establish factories in the country with a ?1,200 crore investment. Samsung is also considering a similar move, potentially bringing more Korean vendors to India. This shift is driven by LG's plans to export to various regions and favorable tariff conditions compared to Vietnam.
South Korea acting president sees US trade talks leading to beneficial solution
South Korea anticipates productive trade discussions with the U.S. this week, aiming for a mutually beneficial outcome. High-level officials will meet in Washington to strengthen the alliance, though the agenda remains unconfirmed. Tensions linger as China criticizes U.S. trade tactics, and defense cost-sharing could complicate negotiations.
South Korea's acting president says tariff talks with US may not be easy
South Korea's acting President Han Duck-soo anticipates the upcoming trade discussions with the United States in Washington will initiate significant collaboration. He acknowledged that the negotiations, scheduled for April 24, might present challenges. Seoul is committed to prioritizing national interests and seeking mutually beneficial solutions through careful consultation with the U.S.
South Korea's Hyundai, Posco agree to cooperate on US steel plant
Hyundai Motor Group and Posco Holdings have signed an agreement for cooperation on Hyundai's planned U.S. steel plant, with Posco making an equity investment in the Louisiana factory project. Posco is also considering purchasing steel produced at the plant, which is slated to begin production in 2029. This follows Hyundai's announcement of a $21 billion investment in the United States.
South Korea finds 'Made in Korea' breaches intended to avoid US tariffs
South Korea has discovered increased efforts to misrepresent foreign goods, mainly from China, as Korean exports. This is done to evade tariffs imposed by the United States. The Korea Customs Service found violations worth billions of won. A significant portion of these shipments were headed to the US. The agency has formed a task force to prevent illegal exports.
South Korea, Vietnam pledge cooperation as US tariffs loom
South Korea and Vietnam have agreed to deepen cooperation amidst challenges posed by newly announced U.S. tariffs, which threaten both economies. They aim to increase bilateral trade to $150 billion by 2030, focusing on balanced and sustainable growth. Vietnam is encouraging South Korean investment in key sectors like infrastructure, electronics, and renewable energy to mitigate the impact of the tariffs.
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