Category: South Korea

KOREAN PENINSULA: Biden will likely face early challenge from North Korea

Kim Jong Un, speaking on the final day of the eighth congress of the ruling Korean Workers’ Party on 12 January, warned, “We must further strengthen the nuclear war deterrent while doing our best to build up the most powerful military strength,” signaling that North Korea will likely be an early challenge for US President Joe Biden’s administration.Read the rest

KOREAN PENINSULA: Pyongyang Parades New Weapons but Will Still Exercise Caution

North Korea, at a dawn parade on Saturday, 10 October celebrating the seventy-fifth anniversary of the founding of the Workers’ Party of Korea (WPK), unveiled two new ballistic missiles, highlighting the extent to which Pyongyang has upgraded its arsenal despite the long-range ballistic missile testing freeze introduced after negotiations with the US began in 2018.… Read the rest

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SOUTH KOREA: Moon looks to long-term growth in new stimulus package

The Moon Jae-in administration unveiled South Korea’s largest-ever supplemental budget, a KRW 35.3tn (USD 29bn) package that is more than its first two emergency budgets combined. Although the total spending is less than meets the eye, since it includes the budget includes KRW 10tn (USD 8.2bn) in savings due to “revenue adjustments,” the new budget provides significant new outlays for emergency measures, including subsidies to help employers retain workers, strengthen the safety net for unemployed workers, help ailing exporters, and boost household consumption.… Read the rest