Tag: South Korea

South Korea has found another customer for their growing defense industry:

During the talks held on the sidelines of the World Defense Show, the two sides discussed ways to strengthen bilateral cooperation in defense and the arms industry, the ministry said. 

On the margins the defense exhibition, South Korea’s Defense Acquisition Program Administration (DAPA) and Saudi defense ministry signed a memorandum of understanding (MOU) to pave the way for cooperation in the defense industry and joint weapons development. 

Under the MOU, the two sides will launch a bilateral committee to jointly conduct research and development of weapons systems for continued cooperation in the defense industry, DAPA said.

Yonhap via a reader tip

Besides this MOU the ROK also secured a deal to sell missile interceptors to Saudi Arabia as well:

South Korean defense firm LIG Nex1 has clinched a US$3.2 billion deal to export mid-range surface-air-to missiles (M-SAM II) to Saudi Arabia, Seoul’s defense ministry said Tuesday.

LIG Nex1 inked the contract with the Saudi defense ministry to sell Cheongung M-SAM II in November, the ministry said.

It marks LIG Nex1’s second overseas sales of Cheongung-II following a deal with the United Arab Emirates (UAE) in January 2022.

Yonhap

You can read more at the link.

South Korea is already working on a “diplomatic buffer zone” with the early renegotiation of the USFK upkeep in case Trump does get elected:

With Donald Trump cruising to a rematch with United States President Joe Biden in the presidential election in November, the world, including South Korea, is preparing for a possible second Trump presidency, which is anticipated to force many countries to recalibrate their diplomatic strategies.

Throughout last year, the Yoon Suk Yeol administration has concentrated on strengthening its alliance with the U.S. to an unprecedented level, aligning South Korea’s diplomatic stance with its traditional ally on most issues, including sensitive ones such as the war between Ukraine and Russia.

Experts said, however, that South Korea this year will have to focus on securing a “diplomatic buffer zone” to prepare for a possible second Trump presidency, which is expected to force Seoul to shoulder a greater amount of the cost of maintaining U.S. Forces Korea’s (USFK) presence on the peninsula and make greater efforts for containing China. The speculation that Trump may condone North Korea’s possession of nuclear weapons is also a concern for Seoul, which has been striving to stymie Pyongyang’s nuclear ambitions through U.S. extended deterrence.

“In terms of the relations with the U.S., the top agenda item that South Korea should focus on this year would be creating a diplomatic buffer zone for requests that Washington may make under a possible second Trump presidency in 2025,” said Lee Geun, professor of international politics at Seoul National University’s (SNU) Graduate School of International Studies.

Korea Times

You can read more at the link.

It will be interesting to see how this safety law is enforced because you can have good safety practices and sometime things just happen:

An employee makes dough at a bakery in Seoul on Friday, one day before expanded implementation of the Serious Accidents Punishment Act, a workplace safety law aimed at penalizing employers for serious industrial accidents, takes effect as scheduled. (Yonhap)

Expanded application of the workplace safety law is expected to have a substantial impact on the South Korean business community, as it holds employers with more than five workers legally responsible for deadly accidents. Concerns are growing as this change, which officially took effect Saturday, will cover 837,000 workplaces, including small neighborhood restaurants, bakeries, pubs, cafes and mom-and-pop stores.

Regardless of the size of the businesses and their financial capabilities, under the law, employers of small and large companies face the same criminal charges if a deadly accident happens during their operations.

“I am paying more attention to safety as the workplace safety law is expanded. But I am very concerned that if an accident occurs, the business will be forced to close,” said a business owner surnamed Kim, who has been running a timber company in North Chungcheong Province for 30 years. His company has 20 employees.

The food service industry argues that safety support should be provided before punishment is pursued.

“Many restaurant business owners are anxious because they think guidelines on the scope of responsibility are unclear. They are also worried since even with good safety training, accidents can always occur due to employee negligence. Some business owners are expected to reduce the number of employees they have hired for a long time to avoid the application of the law,” an official from the Korea Food Service Industry Association said.

Korea Herald

You can read more at the link.

The ROK defense minister had some blunt talk for the Kim regime:

Defense Minister Shin Won-sik visits the 17th Fighter Wing at Cheongju Air Base, 112 kilometers south of Seoul, which operates 40 F-35 stealth fighter jets, on Jan. 24, 2024, in this photo provided by his office. 

 South Korea’s defense chief said Wednesday that North Korea will face the end of its regime if it wages war, hours after the North fired several rounds of cruise missiles into the Yellow Sea in its latest series of weapons tests. 

Defense Minister Shin Won-sik issued the warning during his visit to the 17th Fighter Wing at Cheongju Air Base, 112 kilometers south of Seoul, which operates 40 F-35 stealth fighter jets.

“North Korea has defined the Republic of Korea as its principal enemy and has maintained a hostile policy under the goal of communizing the whole Korean Peninsula,” Shin was quoted as saying, referring to South Korea’s official name.

Yonhap

You can read more at the link.

These regulations which are probably intended to help Korean tech companies at the expense of U.S. companies would also benefit Chinese tech companies as well in Korea:

Fair Trade Commission Chairman Han Ki Jeong, right, speaks with American Chamber of Commerce in Korea Chairman James Kim during a special luncheon event at Grand Hyatt Seoul in this March 2023 file photo. Yonhap

The Yoon Suk Yeol administration’s drive to regulate market-dominant online platforms could be evolving into a potential diplomatic dispute with the U.S., according to industry officials, Thursday.

The U.S. state and commerce departments reportedly raised their concerns regarding South Korea’s proposed regulations. They conveyed these concerns by sending messages to Yoon’s office, the foreign ministry, and the trade ministry late last year.

Although a Fair Trade Commission (FTC) official in charge of the matter said the agency has not received an official comment from Washington, Seoul is said to be trying to persuade the U.S. government by emphasizing that there is no intention of imposing regulations more strictly on foreign firms in favor of domestic companies.

The primary concern for U.S. firms revolves around the potential that the upcoming competition policy rules might inadvertently favor Chinese late movers, like Aliexpress and Temu, which are not expected to be affected by the regulation due to their relatively low market shares.

“It now appears the European Union’s approach is contagious, as Korea’s pro-tech government has tabled a Digital Markets Act-like bill that would unfairly target U.S. platforms while giving Chinese platforms a pass, a policy very much not in U.S. companies’ interests,” the Center for Strategic & International Studies said in a report on Jan. 11. “Korea’s proposed act and the bills under discussion set limits that unfairly target U.S. companies which will, in turn end up helping Chinese companies gain larger market share.”

Korea Times

You can read more at the link.

It will be interesting to see if China in the coming weeks or months tries to conduct military drills around Taiwan to pressure their new President:

The outcome of the presidential election in Taiwan is expected to pose significant diplomatic challenges for Korea, particularly in navigating relations with China and neighboring countries. Tensions in Asia could escalate in response to any sensitive rhetoric or actions, adding complexity to Korea’s diplomatic landscape.

In Saturday’s presidential election, Lai Ching-te of the ruling Democratic Progressive Party, known for his U.S.-friendly stance, secured victory by garnering 40.05 percent of the total ballots. He outpaced Hou Yu-ih from the China-friendly opposition Kuomintang.

Viewed widely as a proxy battle between the U.S. and China, Lai’s campaign emphasizing self-determination, social justice, and resistance to China’s threats resonated with Taiwanese voters, earning their trust even in the face of increasing pressure from Beijing.

China’s foreign ministry promptly issued a statement following Lai’s election win asserting Beijing’s “One China” policy.

“Whatever changes take place in Taiwan, the basic fact that there is only one China in the world and Taiwan is part of China will not change,” it said. “The Chinese government’s position of upholding the one-China principle and opposing ‘Taiwan independence’ separatism, ‘two Chinas’ and ‘one China, one Taiwan’ will not change,” it added.

Korea Times

Here is how the Yoon administration in South Korea has reacted to the election:

The Yoon Suk Yeol administration has displayed a strong inclination towards the U.S., as the president stated in previous media interviews that Seoul opposes attempts to alter the status quo by force in reference to tensions in the Taiwan Strait, despite China’s displeasure. Simultaneously, Korea maintains its adherence to Beijing’s “One China” policy, refraining from reinstating diplomatic ties with Taiwan that were severed in 1992 when Seoul established diplomatic relations with Beijing.

An official at Seoul’s Ministry of Foreign Affairs said, “We hope for peace and stability in the Taiwan Strait and peaceful progress in China-Taiwan relations,” adding that the Korean government’s stance on Taiwan has not changed, while Seoul hopes for practical cooperation with Taiwan in various fields.

You can read more at the link.