Tag: South Korea

It is pretty amazing how stock markets continue to set new highs despite the oil disruptions in the Middle East:

South Korean stocks opened at a fresh record high Monday as investor appetite for tech shares helped offset uncertainty surrounding negotiations between the United States and Iran over a peace agreement.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 120.03 points, or 1.42 percent, to 8,596.18 as of 9:15 a.m., continuing its upward momentum after opening at a fresh high.

The KOSPI closed at a record high of 8,476.15 on Friday.

Yonhap

You can read more at the link.

It should not be surprising that the Iranian regime is willing to blatantly lie despite smoking gun evidence they committed the attack:

Two missiles were fired. The first warhead failed to explode, while the second struck the vessel’s stern hull.

Following the briefing, the foreign ministry summoned Iran’s ambassador to South Korea, Saeed Koozechi, to protest the attack and demand accountability from Tehran.

However, the Iranian envoy denied his country’s involvement in the strike. Speaking to reporters, he said he was personally sorry for the incident but insisted that Iran was not responsible and had never been involved in the attack.

The Iranian Embassy has yet to release an official statement regarding the findings.

Iran must clarify its position on the Korean foreign ministry’s briefing. Tehran’s silence will only fuel speculation and suspicions that it is hiding something.

Korea Times

You can read more at the link.

Was there any doubt on what the findings were going to be? Korea has been nothing but diplomatic with the Iranians over the years, and what do they have to show for it? Missiles launched against one of their commercial ships:

Anti-ship missiles developed and used by Iran are believed to have been used in an attack against a South Korean vessel in the Strait of Hormuz earlier this month, the foreign ministry said Wednesday.

The ministry, however, reserved a decision on which actor in Iran launched the attack or whether it was intentional.

“Technical analysis concluded that the unidentified airborne objects were likely Noor-series anti-ship missiles developed by Iran,” First Vice Foreign Minister Park Yoon-joo said at a press briefing announcing the outcome of the government’s weekslong probe into the incident.

Yonhap

You can read more at the link.

It looks like President Lee wants to be like the U.K. and start jailing people for online speech he does not agree with:

President Lee Jae Myung called Sunday for a public debate on introducing tougher measures against those who post hateful and derogatory content online or engage in such behavior. 

Lee made the remarks in a post on X, formerly known as Twitter, sharing a report that young people believed to be linked to a far-right online forum had engaged in provocative acts mocking former liberal President Roh Moo-hyun near the site of a memorial ceremony held on the anniversary of his death.

“There are differing views on whether expressions that incite social division and conflict through mockery and insults, such as (those seen on) Ilbe, should be protected under freedom of expression or (face) sanctions, including punishment,” Lee said in the post.

Yonhap

You can read more at the link, but the recent Starbucks controversy was brought up in the article. So does President Lee think the Korean Starbucks CEO should be sent to jail for a bad promotion event?

Everything seems to have gone well during the Lee-Takaichi summit. Hopefully the positive direction of Korea-Japan relations continues:

President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi agreed to strengthen cooperation on supply chains, including crude oil and liquefied natural gas (LNG), during a bilateral summit in Lee’s hometown of Andong, North Gyeongsang Province, Tuesday.

The agreement was reached as the two neighbors are deepening bilateral ties through continued summit diplomacy, amid heightened global energy security risks stemming from the U.S. war on Iran.

“We agreed that close bilateral cooperation is needed more than ever amid the instability in supply chains and energy markets arising from the recent situation in the Middle East,” Lee said in a joint press statement after the summit.

Korea Times

You can read more at the link.

Hopefully this summit continues to the positive direction of ROK and Japanese relations:

Takaichi will be received at Daegu International Airport, near Andong, by South Korea’s Second Vice Foreign Minister Kim Jina before heading to a hotel, where she will meet Lee for talks.

Honor guards in traditional costumes and gear will escort Takaichi as she is ushered into the hotel, where a 12-member color guard will welcome her at the entrance, according to presidential officials.

Lee and Takaichi will first hold a small-group meeting, followed by an expanded meeting, before making a joint press announcement on the results of their talks. 

Agenda items will likely include bilateral cooperation in response to the ongoing Middle East conflict, security in Northeast Asia and efforts to address disruptions in global supply chains.

Yonhap

You can read more at the link.

It looks like Prime Minister Takaichi and President Lee have formed so far a strong relationship:

Japanese Prime Minister Sanae Takaichi is considering visiting Korea later this month for a summit with President Lee Jae Myung in his hometown of Andong, Japanese media outlets said Saturday, citing diplomatic sources.

Japan’s Kyodo News and other media outlets reported that Takaichi is expected to visit South Korea on May 19 for a two-day trip and hold talks with Lee in Andong, about 190 kilometers southeast of Seoul, on economic security cooperation, including energy and critical mineral supply chains amid the Middle East conflict.

Takaichi last visited South Korea in October, just nine days after she took office, and held talks with Lee on the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit in the southeastern city of Gyeongju.

Korea Times

You can read more at the link.

It is pretty clear that Korea like all the other international countries are going to delay any military support to opening the Strait of Hormuz as long as possible:

South Korean Defense Minister Ahn Gyu-back (L) and U.S. Defense Secretary Pete Hegseth pose ahead of their talks at the Pentagon near Washington, D.C., on May 11, 2026. (Pool photo) (Yonhap)

 Defense Minister Ahn Gyu-back said Wednesday he has told his U.S. counterpart that Seoul will review making phased contributions to Washington’s initiative in restoring safe passage in the Strait of Hormuz.

Speaking to reporters at the South Korean Embassy in Washington, Ahn said Seoul conveyed to Washington that it would “participate as a responsible member of the international community and review ways to contribute in phases” while sharing details of his discussions with his U.S. counterpart, Pete Hegseth, at the Pentagon earlier this week.

Ahn cited the declaring of support, dispatching personnel, sharing information and providing military assets as possible means of participation.

Yonhap

You can read more at the link.