• Foreign Minister Cho Tae-yul Attends G7 Foreign Ministers' Meeting in Italy

  Foreign Minister Cho Tae-yul attended the 2ndG7 Foreign Ministers' Meeting in Fiuggi, Italy, from November 25 to 26, where he engaged in discussions on critical global and regional issues. The meeting addressed illegal military cooperation between Russia and North Korea, diplomatic and security matters in the Indo-Pacific, and strategies for strengthening cooperation between South Korea and the G7.   The meeting, convened by G7 member states, invited foreign ministers, and representatives of international organizations, focused on key diplomatic and security challenges, including the war in Ukraine, developments in the Indo-Pacific, and issues in the Middle East. Minister Cho participated in a special Indo-Pacific outreach session under the theme of “Strengthening Cooperation and Connectivity in the Indo-Pacific,” where he provided South Korea’s perspective on pressing regional concerns.   During his remarks, Minister Cho emphasized the unprecedented level of interconnection between European and Indo-Pacific security. Highlighting North Korea’s deployment of troops to Russia, he noted this marked the first instance in history where Asian forces were dispatched to a European battlefield at the request of a European nation. He called for heightened international vigilance and outlined South Korea’s diplomatic and security strategies in response to the actions of Russia, North Korea, and Ukraine. Minister Cho underscored the urgency of robust international collaboration, particularly among like-minded countries in Europe and the Indo-Pacific, to halt illegal military cooperation between Russia and North Korea.   The meeting also explored the Indo-Pacific strategies of participating countries and ways to enhance cooperation with the G7. Minister Cho detailed South Korea’s diplomatic initiatives within the framework of its Indo-Pacific strategy, including partnerships with ASEAN and Pacific Island nations. He emphasized the critical importance of maintaining peace and stability in regional territory, including the South China Sea, and adhering to the principles of international law. As the incoming chair of APEC for 2025, Minister Cho committed to strengthening connectivity among countries in the region.   Addressing global challenges such as geopolitical competition and the fragmentation of the global economic order, Minister Cho underscored the importance of maintaining a rules-based international order. He reaffirmed South Korea’s commitment to close collaboration with the G7 on key regional and global issues as a prominent Indo-Pacific nation. Based on this efforts,  the South Korean government plans to continue enhancing its collaboration with the G7 to address major diplomatic and security issues effectively.

• South Korea Pledges Leadership in Global Climate Action at G20 Summit

    President Yoon Suk-yeol announced South Korea’s commitment to actively serving as a "green ladder" for countries vulnerable to climate change during the G20 Summit on the 19th (local time). Speaking at the third session of the summit, which focused on sustainable development and energy transition, President Yoon outlined South Korea's contributions to tackling the climate crisis and advancing clean energy transitions.   Addressing the challenges of achieving carbon neutrality by 2050, President Yoon noted that while transitioning to clean energy is essential, the burden of doing so disproportionately affects emerging economies and developing nations. To support these efforts, he highlighted South Korea’s leadership in the Carbon-Free Energy (CFE) Initiative, first proposed at the UN General Assembly last year. He announced that South Korea will launch a global CFE task force in collaboration with partner nations during the Clean Energy Ministerial meeting in October. Additionally, the government plans to develop a carbon-free energy certification system to further expand the initiative.   President Yoon reiterated South Korea’s commitment to climate-vulnerable countries by emphasizing its expanded role in Green Official Development Assistance (ODA). He highlighted the ongoing implementation of an additional $300 million contribution to the Green Climate Fund (GCF), fulfilling a pledge made at last year’s G20 Summit in New Delhi. He also announced a new $7 million contribution to the “Loss and Damage Response Fund,” a commitment made during this year’s Korea-Africa Summit.   On mobilizing private-sector resources for sustainable development, President Yoon pledged to mitigate risks associated with renewable energy investments to encourage private green financing. He emphasized accelerating clean energy development through the introduction of market mechanisms, such as a clean hydrogen power bidding system.   Recognizing the broader environmental challenges, President Yoon stressed the importance of reducing plastic pollution as part of sustainable development efforts. He affirmed the South Korean government’s support for the successful conclusion of the fifth intergovernmental negotiations on the International Plastics Treaty, set to begin in Busan on November 25.   The President also addressed the rising energy consumption linked to advanced digital technologies, underlining the importance of achieving “digital carbon neutrality.” He called on G20 members to actively participate in these efforts to align digital innovation with climate goals.   Looking ahead, President Yoon introduced the theme of the 2025 APEC Summit, “Creating a Sustainable Tomorrow Together,” which will be hosted in Gyeongju. He reaffirmed South Korea’s dedication to responsible leadership and its proactive role in building a sustainable future.  

• South Korea Showcases Climate Action Efforts at COP29

    The Presidential Committee on Carbon Neutrality and Green Growth will introduce South Korea's efforts to address the climate crisis at the 29th United Nations Climate Change Conference (COP29), taking place in Baku, Azerbaijan, from November 11 to November 22. During the conference,Koreawill host more than 40 side events, with the committee organizing seminars on key topics such asclimate finance, clean energy, and digital carbon neutrality. The committee will also engage in discussions on expanding carbon-free energy and setting international standards for the steel industry.   On November 12, the committee held a seminar titled ‘International Reduction Cooperation Partnership for Overcoming the Climate Crisis.’ This event has bring together nations that have pursued collaborative approaches based on Article 6 of the Paris Agreement to share experiences and explore ways to enhance the effectiveness of international reduction projects.   In addition to hosting events, the committee will participate in a seminar organized by the Carbon Free Alliance (CF) Secretariat titled ‘Carbon-Free Energy Initiative – New Solutions for Addressing the Climate Crisis.’ Here, the committee will advocate for accelerated energy transitions and the increased use of carbon-free energy sources as essential components for achieving carbon neutrality.   Han Hwa-jin, the civilian chair of the committee, will attend the International Climate Committee Network (ICCN) General Assembly, held alongside COP29, to underscore the importance of exchange and cooperation among national climate committees in climate governance and policy-making. During this assembly, she will also highlight South Korea’s potential role as a bridge between developed and developing countries in addressing the climate crisis.   The COP29 conference, held under the theme ‘In Solidarity for a Green World’, is expected to draw more than 40,000 participants from around 190 member governments, as well as representatives from international organizations, businesses, academia, media, and civil society. Key issues on the agenda include establishing new climate finance targets for the post-2025 period and setting detailed implementation rules for Article 6 of the Paris Agreement.

• Korea-Africa Economic Cooperation Task Force Launched to Advance Summit Follow-Up Initiatives

    On October 25, the Ministry of Foreign Affairs, under the leadership of Deputy Minister Jung Byung-won, formally launched the intergovernmental Economic Cooperation Task Force (TF) to guide and implement key follow-up initiatives from the recent Korea-Africa Summit. Chaired by Deputy Minister Jung, the inaugural meeting focused on aligningefforts to fulfill the summit's commitments, thereby strengthening bilateral cooperation with African nations.   In his opening remarks, Deputy Minister Jung emphasized the strong interest African countries have shown in advancing post-summit actions. He highlighted the importance of a systematic approach to realizing the summit's achievements and stated that the Economic Cooperation TF was specifically established to facilitate the execution of essential economic cooperation projects between Korea and Africa.   The TF is structured to focus on several key areas of collaboration, including trade and investment, energy, critical minerals, development finance, and infrastructure. During the meeting, team members evaluated the current status of projects within each sector and deliberated on strategic plans for future activities. To ensure consistent progress, the TF will conduct regular meetings, both within individual teams and across the organization, to closely monitor the implementation of Korea-Africa summit commitments.   Representatives from major Korean companies operating in Africa, such as POSCO International and Daewoo Engineering & Construction, were also invited to the meeting to explore possibilities for public-private collaboration. POSCO International presented its ongoing efforts to diversify the critical minerals supply chain through equity investments in Tanzania’s Mahenge graphite mine. Daewoo E&C detailed its extensive experience executing projects across Africa, including in Nigeria, Libya, and Mozambique. Both companies requested continued government support to ensure stability in their African operations and to enhance their competitive edge in securing regional contracts.   The launch of the intergovernmental Economic Cooperation TF is regarded as a pivotal step in systematically advancing the economic cooperation framework established at the Korea-Africa Summit. This collaborative effort provides a structured foundation for building resilient, mutually beneficial partnerships between Korea and Africa, driving forward trade, investment, and sustainable development for both regions.

• IMF Maintains Global Growth Forecast Amid Rising Geopolitical Tensions

    The International Monetary Fund (IMF) released its World Economic Outlook (WEO) Report on the 22nd, maintaining its global economic growth forecast for this year at 3.2%, consistent with July's projections.   While keeping its growth outlook steady, the IMF cautioned that deepening geopolitical tensions could threaten long-term global economic prospects. The report expressed concern that persistent geopolitical rifts may reshape global trade, leading to substantial economic disruptions.   According to the report, a more fragmented global trade system could emerge if geopolitical tensions continue to escalate. Such fragmentation may weaken supply chains, increase financing costs, and disrupt cross-border capital flows. The efficiency of global markets could also suffer, with the transfer of knowledge and technology between advanced and developing economies slowing. Additionally, the IMF noted that corporate costs and risks are likely to rise, especially with the financial pressures associated with green transition efforts.   IMF Chief Economist Pierre-Olivier Gourinchas, in a press briefing, elaborated on the potential fallout from rising trade tensions. He explained that higher tariffs between countries could distort trade flows, resulting in inefficient resource allocation and slower economic activity. Furthermore, uncertainty around future trade policies could dampen investment, consumption, and overall economic activity, further constraining growth.   The 2024 IMF and World Bank (WB) Annual Meetings are being held in Washington from October 21 to 26. During her opening speech at the event, IMF Managing Director Kristalina Georgieva acknowledged the difficult geopolitical climate, urging policymakers to collaborate in addressing pressing global challenges. These include trade tensions, climate change, and the growing influence of artificial intelligence (AI). Georgieva emphasized the need for coordinated efforts to ease geopolitical tensions and support global stability.     As global economic uncertainties persist, the IMF's warnings underscore the potential long-term risks of a fractured global economy. The report calls for swift action to mitigate these challenges before they further undermine economic growth.

• Korea and Singapore Forge Stronger Economic Partnerships for the Future

    On October 8, President Yoon Suk-yeol attended the Korea-Singapore Business Forum at a downtown hotel in Singapore, following his participation in a similar forum in the Philippines the previous day. The president's continued engagement with business leaders reflects his ongoing efforts to strengthen economic ties in the region.   During his keynote speech, President Yoon highlighted the close cooperation between Korea and Singapore over the past 50 years, noting that both countries have worked toward a free and open economy. This collaboration, he stated, has been a key factor in their shared economic growth. The president emphasized that, thanks to the challenges and successes of business leaders, trade between the two nations has increased 400-fold, while investments have grown by more than 4,000 times.   President Yoon also underscored the significance of the ‘MOU on High-tech Industry Technology Cooperation’ signed during the forum, emphasizing that the agreement would promote collaboration between businesses from both nations to drive technological innovation across various sectors.   He reaffirmed that Korea and Singapore would emerge not only as partners in innovation but also as key allies in economic security. Highlighting Singapore’s status as a global logistics hub connected to 600 ports in 120 countries, President Yoon suggested that sharing Korea’s supply chain data with Singapore’s logistical information would help ensure mutual prosperity. He announced that both nations had signed the’ Supply Chain Partnership Arrangement (SCPA),’ marking Korea’s first bilateral supply chain partnership arrangement.   Finally, President Yoon discussed Singapore’s significance as a global hub for LNG trading, with Korea being the world’s third-largest LNG importer. He noted that the two countries had signed an ‘LNG Cooperation MOU,’ which would promote joint efforts in LNG swaps and procurement to stabilize both the supply and price of natural gas. The president pledged ongoing support for businesses in both countries to efficiently expand their supply chains and focus on economic growth

• Foreign Minister Cho Tae-yul Attends G7 Foreign Ministers' Meeting in Italy

  Foreign Minister Cho Tae-yul attended the 2ndG7 Foreign Ministers' Meeting in Fiuggi, Italy, from November 25 to 26, where he engaged in discussions on critical global and regional issues. The meeting addressed illegal military cooperation between Russia and North Korea, diplomatic and security matters in the Indo-Pacific, and strategies for strengthening cooperation between South Korea and the G7.   The meeting, convened by G7 member states, invited foreign ministers, and representatives of international organizations, focused on key diplomatic and security challenges, including the war in Ukraine, developments in the Indo-Pacific, and issues in the Middle East. Minister Cho participated in a special Indo-Pacific outreach session under the theme of “Strengthening Cooperation and Connectivity in the Indo-Pacific,” where he provided South Korea’s perspective on pressing regional concerns.   During his remarks, Minister Cho emphasized the unprecedented level of interconnection between European and Indo-Pacific security. Highlighting North Korea’s deployment of troops to Russia, he noted this marked the first instance in history where Asian forces were dispatched to a European battlefield at the request of a European nation. He called for heightened international vigilance and outlined South Korea’s diplomatic and security strategies in response to the actions of Russia, North Korea, and Ukraine. Minister Cho underscored the urgency of robust international collaboration, particularly among like-minded countries in Europe and the Indo-Pacific, to halt illegal military cooperation between Russia and North Korea.   The meeting also explored the Indo-Pacific strategies of participating countries and ways to enhance cooperation with the G7. Minister Cho detailed South Korea’s diplomatic initiatives within the framework of its Indo-Pacific strategy, including partnerships with ASEAN and Pacific Island nations. He emphasized the critical importance of maintaining peace and stability in regional territory, including the South China Sea, and adhering to the principles of international law. As the incoming chair of APEC for 2025, Minister Cho committed to strengthening connectivity among countries in the region.   Addressing global challenges such as geopolitical competition and the fragmentation of the global economic order, Minister Cho underscored the importance of maintaining a rules-based international order. He reaffirmed South Korea’s commitment to close collaboration with the G7 on key regional and global issues as a prominent Indo-Pacific nation. Based on this efforts,  the South Korean government plans to continue enhancing its collaboration with the G7 to address major diplomatic and security issues effectively.

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  2024-12-02

• The 18th International Memorial Day Ceremony for UN Veterans Flyer

    The Ministry of Patriots and Veterans Affairs (Minister Kang Jeong-ae) announced that on Monday, the 11th, at 10:50 a.m., the 18th International Memorial Day ceremony for UN veterans, who sacrificed and dedicated themselves to protect the freedom of the Republic of Korea during the Korean War, will be held at the United Nations Memorial Cemetery in Busan, the only UN cemetery in the world.   Held under the theme “Turn Toward Busan,” this year’s event will welcome over 800 attendees, including UN veterans and their families from 20 countries, Korean veterans, foreign diplomats, UN Command personnel, and students.   [UN Unidentified Soldier Interment Ceremony]   At 10:30 a.m., prior to the memorial ceremony, there will be an interment ceremony for an unidentified UN soldier in the unknown soldiers’ section of the UN Memorial Cemetery. The remains, discovered in Baekryeong-ri, Yeoncheon-gun, Gyeonggi Province in 2010, were determined through DNA analysis to be those of a European male aged 17–25, who served in the UN forces. However, his nationality and identity remain unknown. This marks the first time that an unidentified UN veteran discovered after the armistice has been interred at the UN Memorial Cemetery.   The interment ceremony will follow a process of transporting the remains, lowering them into the grave, placing soil from the location where the remains were found, and offering floral tributes and silent prayers. The ceremony will be broadcast on a screen at the main venue.   [International Memorial Day Ceremony for UN Veterans]   Following the interment, the memorial ceremony will begin at 10:50 a.m. in the main symbolic area with the raising of the national flags of the participating countries, a tribute of flowers, speeches, a theme video, a remembrance address, and a dedication performance. The ceremony will last about 40 minutes.   The ceremony will commence with 48 students from Busan Foreign Language High School and ROK military personnel raising the flags of South Korea, the UN, and the 22 other countries that participated in the Korean War, in pairs. Following this, Second Lieutenant Jin Da-ye, a granddaughter of a veteran, will recite the pledge to the national flag, and a Ministry of Defense vocal unit will lead the national anthem. At 11 a.m., a minute of silent tribute will be observed across Busan, accompanied by a 21-gun salute in honor of the UN fallen soldiers.   After the silent tribute, wreaths representing South Korea and the 22 participating nations will be placed. This will be followed by remarks from representatives of the participating nations.   The memorial performance will include a letter of gratitude from Mary McIntosh, daughter of the late Melvin Maynard, a U.S. Marine veteran of the Incheon Landing, expressing appreciation to the UN veterans. Mary McIntosh, along with her family, will perform the commemorative song “The Hidden Path (가리워진길).” Her family’s connection to Korea spans three generations, from her father’s service in the Korean War to her husband’s mission work and her children’s careers in Korea.   Following the memorial performance, a theme video will highlight that today’s development and prosperity in Korea stem from the “seeds of freedom and peace” planted by UN veterans over 70 years ago.   After the tribute speech, a declaration of peace dedicated to UN veterans will be read by members of the Veterans Honors Club, including Seol Dong-min (co-CEO of Made in People), Seon Ho-seung (an elementary school teacher), Campbell Asia, and student representative Kim Si-yeon (a Naval ROTC cadet from Pukyong National University). This declaration, produced in album format, will be presented to 12 UN veterans attending the ceremony.   The ceremony will conclude with a choral rendition of the dedication song “See You Again” by the Ministry of Defense vocal unit and the Raon Youth Choir, followed by a commemorative flight by the Air Force Black Eagles.     Minister of Patriots and Veterans Affairs Kang Jeong-ae stated, “The government and the people of Korea will forever remember that the seeds of freedom sown by UN veterans over 70 years ago have grown into today’s peace and prosperity. We will strive to honor the veterans, strengthen solidarity with participating nations, and pass on the legacy of UN participation in the Korean War to future generations.”

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  2024-11-12

• Korea and EU Strengthen Security and Defense Partnership in First Strategic Dialogue

    On November 4, Foreign Minister Cho Tae-yul held the first Korea-EU Strategic Dialogue with Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy. The discussions addressed key topics including Korea-EU relations, Russia-North Korea cooperation and the situation on the Korean Peninsula, as well as regional and international developments.   Minister Cho and High Representative Borrell underscored the importance of this strategic dialogue, noting its timely significance amid a geopolitical landscape where security dynamics in Europe and the Indo-Pacific are increasingly intertwined, as exemplified by North Korea’s recent military deployments to Russia. The dialogue was the first to take place since its establishment was agreed upon at the Korea-EU summit in Seoul in May, aiming to strengthen the Korea-EU strategic partnership, founded on shared core values and solidarity.   In line with last May’s summit, the two leaders welcomed the adoption of a Korea-EU Security and Defense Partnership document during the dialogue. This new partnership framework encompasses collaboration in 15 areas of security and defense, including maritime security, cybersecurity, arms control, non-proliferation, and the defense industry. Through this agreement, Korea and the EU intend to enhance their joint responses to growing global security threats. Notably, this non-binding political document makes Korea the EU’s fourth partner—following Moldova, Norway, and Japan—to sign such an agreement.   In a joint statement, Minister Cho and High Representative Borrell condemned North Korea’s support for Russia’s invasion of Ukraine through illegal arms transfers and the deployment of special forces, actions that they emphasized as threats to global security, including that of Korea and Europe. They called for North Korea’s immediate withdrawal of troops and the cessation of all military cooperation with Russia. Both leaders reaffirmed that North Korea cannot and will not attain nuclear-weapon-state status under the Non-Proliferation Treaty (NPT), urging North Korea to take concrete steps toward denuclearization. To this end, Korea and the EU committed to closely monitor any compensation Russia provides to North Korea in return for military support and to coordinate necessary measures with the international community.   Minister Cho and High Representative Borrell also explored ways to expand collaboration in the implementation of their respective Indo-Pacific strategies. Minister Cho emphasized Korea’s emergence as a country dedicated to democratic values and capable of making meaningful contributions to international peace and prosperity. He expressed Korea’s intention to enhance cooperation with the G7 on major global issues. In response, High Representative Borrell affirmed the EU’s commitment to working closely with Korea, both bilaterally and multilaterally, to uphold a rules-based international order.  

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  2024-11-11

• President Yoon Visits Czech Republic’s Doosan Škoda Power

  On the morning of September 20, President Yoon Suk Yeol, alongside Czech Prime Minister Petr Fiala, visited the Plzeň-based companies Doosan Škoda Power and Škoda JS. These firms are known for their core turbine technology and expertise in producing nuclear power plant equipment.    Upon arrival at Doosan Škoda Power, the two leaders participated in the "Nuclear Power Plant Full-Cycle Cooperation Agreement Ceremony." The event, attended by key nuclear-related companies, institutions, organizations from both nations, and Doosan Škoda Power employees, saw the signing of 13 Memorandums of Understanding (MOUs). These agreements cover critical areas of the nuclear ecosystem, including plant design, operation, nuclear fuel, and waste management.    A key development during the ceremony was the agreement signed by Korea Hydro & Nuclear Power (KHNP), the preferred bidder for the Czech nuclear power plant construction project, along with Doosan Enerbility and Doosan Škoda Power. The agreement stipulates that if KHNP finalizes the contract for the new Czech nuclear power plant in March next year, turbines produced by Doosan Škoda Power in Plzeň will be used in the plant. This marks the first step toward realizing the vision of a “jointly built nuclear power plant” by Korea and the Czech Republic.   In his subsequent remarks, President Yoon highlighted three key points regarding the partnership. First, he emphasized that "Team Korea" has over 50 years of experience in safely constructing and operating nuclear power plants, expressing confidence that Korea would be the ideal partner for the Czech Republic. He assured that Korea would deliver the project "on time and on budget."   Finally, President Yoon suggested that through nuclear cooperation, Korea and the Czech Republic could become leading players in the global nuclear renaissance. He called for the excellent nuclear power companies from both nations to unite in driving this shared future.    

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  2024-09-30

• Chuseok Full Moon Festa with the Mission Center for Migrants

  other church communions, designed to celebrate the diverse cultures of migrants in Korea, and it was an experience that left a lasting impression. While most people in Korea spend time with their families, migrants, who may not have a familial community, are welcomed with open arms at this event. Upon arriving at the venue, I was immediately enveloped by a vibrant atmosphere. The event aimed to honor not just Chuseok, but the rich tapestry of cultures represented by the migrant community, including those from Vietnam, China, Bangladesh, and more. Food was the heart of our celebrations. Attendees brought traditional dishes from their home countries, transforming the event into a culinary journey. I had the joy of helping set up a long table filled with a delightful array of dishes. From Vietnamese pho to Chinese dumplings, Bangladeshi biryani, and more, the flavors and aromas created a feast for the senses. Sharing these foods allowed participants to showcase their heritage and sparked conversations about culinary traditions, enhancing the sense of community. One of the highlights of the day was the friendly competition that encouraged participants to display their cultures. Groups presented cultural performances, including traditional dances, music, and storytelling. Each presentation was met with cheers and applause, as attendees celebrated each other's contributions. This exchange of cultural experiences spread joy and fostered connections, creating an atmosphere of camaraderie and mutual respect. Throughout the event, I helped organize setting up the tables for food to be distributed as a volunteer. Furthermore, as fall and winter is approaching, a discount shop for fall and winter clothes was set up. I assisted by hanging up jackets, folding clothes, as well as translating and communicating with migrants who were looking to get new pieces. As the day wound down, I reflected on the powerful connections forged during the event. The smiles and laughter were a testament to the joy that comes from celebrating our differences while embracing common traditions. Chuseok took on a new dimension, transforming from a Korean family festival into a multicultural gathering that emphasized unity and understanding.It reinforced the significance of inclusivity and the beauty of diverse cultural expressions. As we shared food, stories, and joy, we not only celebrated the harvest but also the richness that each culture brings to our collective experience in Korea. It was a reminder that, together, we can create a welcoming community where everyone feels at home.

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  2024-09-22

• Why is China Ending Foreign Adoptions Now?

    ] China’s decision to end its international adoption program has sparked concern among hundreds of American families with pending applications. Announced by Chinese foreign ministry spokesperson Mao Ning during a daily briefing, the policy now restricts intercountry adoptions except for cases involving blood relatives or stepchildren. This decision not only leaves many prospective adoptive families in limbo but also signals the culmination of trends that have been building over the past several years.   China’s international adoption program, once one of the largest in the world, has been winding down for some time. Over 82,000 children have been adopted from China by American families alone, a figure that makes China the leading source country for intercountry adoptions in the United States. However, changes in China’s political, demographic, and economic situation, coupled with the suspension of international adoptions during the COVID-19 pandemic, have led to a sharp decline in the number of adoptions and now to the program’s cessation.   Previously, one of the driving forces behind China’s international adoption boom was its one-child policy, which led to many children–particularly girls–being put up for adoption, as parents in the Confucian society sought to ensure that their sole child was male. However, as China phased out its one-child policy and introduced measures to encourage higher birth rates, the flow of children into orphanages declined. The social stigma surrounding having more than one child has also lessened, contributing to fewer children being abandoned or placed in institutional care.   Moreover, the economic strides China has made in recent years mean that families are now better able to care for their children, and fewer children are being placed up for adoption overall. Adoption agencies have reported that the number of available children has steadily decreased, with fewer children requiring placement internationally.   The COVID-19 pandemic played a pivotal role in the decline of international adoptions. In 2020, China largely suspended the program, with only a small number of adoptions allowed to proceed for those who had already received travel authorization before the pandemic. The lengthy delays in processing adoptions further discouraged prospective families, some of whom had waited nearly a decade to complete their adoption.   As the pandemic waned, China briefly resumed adoptions for those with pre-existing travel approvals, but the numbers remained minimal. In the 2022-2023 fiscal year, for example, only 16 visas were issued for adoptions from China, according to the U.S. State Department’s annual report. With this dwindling number of adoptions, China’s formal announcement effectively confirms the conclusion many had already seen coming.   The changing political landscape in China also plays a role in the decision. Under President Xi Jinping’s leadership, China has placed increasing emphasis on self-sufficiency, national strength, and social cohesion. The end of the adoption program aligns with this broader nationalist sentiment, suggesting that China now views international adoptions as less necessary or desirable.   The decision to end international adoptions has left hundreds of American families in limbo, with the U.S. State Department working to clarify how this new policy will affect pending cases. According to letters sent to adoption agencies, all pending adoptions have been canceled except, once again, those with already-issued travel authorizations. Families who have waited years for their adoption to be finalized now face an uncertain future.   The response from adoptive parents and adoptees has been mixed. While some mourn the end of an era, others see it as a necessary step toward ensuring that children are cared for within their country of origin. The Nanchang Project, a United-States based organization that helps Chinese adoptees reconnect with their biological families, stated that the program was already “on its way out” and expressed hope that the remaining children in China would receive the love and care they need domestically.   Other countries have also reexamined their international adoption policies in recent years. Denmark’s only overseas adoption agency announced it would wind down operations after concerns arose about fabricated documents, and Norway’s top regulatory body recommended halting overseas adoptions for two years while investigating procedural issues. These developments suggest a broader reevaluation of the ethics and necessity of intercountry adoptions.   As China continues to adjust to its new demographic realities–marked by declining birth rates and an aging population–the end of the international adoption program underscores a shift toward domestic solutions. The Chinese government’s emphasis on taking care of its own children within national borders, combined with a reduced need for international placements, reflects the country’s growing confidence in its ability to provide for its most vulnerable citizens.

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  2024-09-10

• 74th Anniversary of Incheon Landing Operation: A New Vision for Peace and Unification

      The 74th anniversary of the Incheon Landing Operation will be commemorated from June 6 to 12 in Incheon, with an expanded focus beyond the historical significance of the landing itself. As part of the celebrations, the Ministry of Unification and Incheon Metropolitan City hosted the 2024 Unification Culture Event—Incheon Tonghanabom (통하나봄)—on September 7 in front of Incheon City Hall. Tonghanabom signifies "seeing a united future through unification."The event featured a diverse range of performances, exhibitions, and interactive activities aimed at engaging the public. A standout attraction was the "Wish for Unification through Clay Art," where participants shaped their visions of unification into symbolic clay creations. Other interactive experiences included workshops on North Korean society, hosted by the National Institute for Unification Education, as well as a collaborative mural painting space open to everyone.At the event's opening ceremony, the Minister of Unification, Kim Youngho, and the Mayor of Incheon Metropolitan City, Yoo Jeongbok, expressed their commitment to fostering a spirit of unification grounded in freedom and peace. Minister Kim emphasized the importance of recognizing the value of freedom in the unification process, referencing President Yoon Suk Yeol's August 15 Unification Doctrine, which envisions a Korea united in freedom, peace, and prosperity."The freedom we enjoy today was possible because of the sacrifices and dedication of many people to protect it," Minister Kim said. He further underscored the need to "expand the freedom we enjoy across the Korean Peninsula by inheriting the noble spirit of freedom protection shown in the Incheon Landing Operation by our predecessors, the U.S. military, and the U.N. forces.”Mayor Yoo, in his congratulatory speech, reaffirmed Incheon’s role as an international peace city. "Incheon City will play a leading role in free, peaceful unification through various unification policies, projects for North Korean defectors, and projects to form a sense of civic unification," Yoo said.Chairman Kim Heejung, who leads the Overseas Council under the National Unification Council, emphasized the importance of private-sector initiatives in supporting these visions. "The 8.15 Doctrine reaffirms the identity of the Republic of Korea and outlines the path toward unification, rooted in freedom as specified in the Constitution," she stated, highlighting the need for grassroots movements to strengthen the nation's identity and commitment to peaceful unification.The diverse programs planned for the Incheon event aim to inspire both domestic and international participants to envision a unified Korea. The goal is to bridge the gap between the current reality of division and the aspirational future of a peaceful, unified Korean Peninsula.This year’s commemoration of the Incheon Landing Operation seeks not only to honor a pivotal moment in Korean history but also to foster a broader, forward-looking narrative. With its emphasis on peace, harmony, and unification, Incheon is positioning itself as a leading city for global festivals centered around these ideals. As Mayor Yoo remarked, "I hope this will be a place where we express our shared determination to achieve a free and democratic order—ultimately, the unification of Korea based on these principles."

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  2024-09-07

• UN Cybercrime Convention Unanimously Finalized in New York

    On August 8, 2024, at 4:40 PM local time in New York, the United Nations Convention Against Cybercrime was unanimously finalized, marking a significant milestone in the global fight against cybercrime.   The South Korean government played an active role in these negotiations, dispatching a delegation composed of representatives from the Ministry of Foreign Affairs, the Ministry of Justice, the Supreme Prosecutors' Office, and the National Police Agency.This delegation participated in the 8th session of the Ad Hoc Committee for drafting the UN Cybercrime Convention, which was held at the UN headquarters in New York from July 29.   This convention represents the first UN-level agreement in the cyber field and is the first UN convention in the criminal justice arena in nearly 20 years, following the United Nations Convention Against Corruption in 2003. Given the rapid development of information and communication technologies and the spread of transnational cybercrime, the need for international norms and standards has become increasingly urgent. The finalization of this convention brings the international community closer to realizing the first global multilateral treaty governing the cyber realm.   Throughout the drafting process, there was a consensus on the necessity of international cooperation in combating cybercrime. However, significant differences in opinions arose regarding the means and methods of implementation. Despite intense opposition between various positions, the participating countries managed to reach a consensus through concessions and compromises, even extending the session to ensure the convention's successful conclusion.   The drafting of this convention, which began with the first session in February 2022, marks the culmination of multilateral discussions aimed at strengthening international cooperation against cybercrime. Once formally adopted and enacted, the convention will establish a global network for cybercrime cooperation in which all countries can participate. This is expected to facilitate the swift preservation and sharing of electronic evidence.   The convention will now undergo text refinement and translation into the six official UN languages. It is expected to be officially adopted at the next UN General Assembly. The South Korean government plans to actively pursue the procedures for signing and ratification while preparing the necessary domestic legislation.

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  2024-08-19

• UN Memorial Cemetery: Remembrance

    The only United Nations Memorial Cemetery in the world is located in Nam-gu, Busan.After learning that fact, I decided to do a project report on the UN Memorial Cemetery in Korea. As a youth reporter for Leaders Times, I visited the UNMCK to cover meaningful historical facts.Together with reporters for Leaders Times, I initially visited Busan out of curiosity about the soldiers and countries that made sacrifices to protect Korea. There, many people were honoring the soldiers and veterans who participated in the Korean War. As I wandered through the memorial cemetery, observing the memorial stones and events, I felt an even stronger desire to learn more about the immense courage and sacrifice of these soldiers.To briefly explain the war, the Korean War began with North Korea's invasion of South Korea, supported by the Soviet Union, on June 25, 1950. Initially, North Korea pushed South Korea all the way down to Busan, where the last defense line, known as the Battle of the Pusan Perimeter, was established. However, the tide began to turn on September 15, 1950, when General MacArthur launched a daring counterattack at Incheon with the support of the United Nations. This marked a significant moment, as it was the first major military action under the United Nations Command. Thanks to the efforts of many countries and General MacArthur, the South was able to push the North back to the Yalu River near China. Feeling threatened, China intervened to help North Korea, ultimately resulting in a stalemate near the 38th parallel.Many nations, including the United States, United Kingdom, Australia, Netherlands, Canada, France, New Zealand, Philippines, Turkey, Thailand, South Africa, Greece, Ethiopia, Belgium, Luxembourg, and Colombia, contributed troops under the United Nations command. Among them, 36,516 U.S. soldiers, along with many others from various nations, lost their lives in the effort to protect Korea, a country many had never known before the war. In honor of the soldiers, the UM Memorial Cemetery is dedicated to honoring the soldiers and ensuring that those buried there rest in peace. Busan was chosen as the site because it was the only place that remained safe when North Korea invaded, and it continues to stand as a symbol of peace and protection for the country.As I saw and read more about the UN cemetery and all the nations that came to South Korea’s aid, I realized that honoring the sacrifice of these soldiers is not just about remembering history; it's about acknowledging the profound impact of their bravery on our present and future. I wanted to do something to commemorate their courage. This is why other students and I made a “Freedom isn’t Free” shirt and help fundraise enough for a wreath at the UN memorial cemetery to honor the soldiers buried in the cemetery. Although I placed a wreath for one soldier, this personal act of remembrance is my way of showing respect and gratitude for the soldiers who laid down their lives for the peace and protection of the world.Thank you for your service and sacrifice. If it were not for the soldiers who protected this small land, we would not exist today. My country, as well as the rest of the world, would not be free without your dedication and bravery.   - Hyeonseok Rho,  Junior (11th grade) at Thomas Jefferson School in St. Louis, Missouri.-      

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  2024-08-15

• Honoring the Heroes: Youth-Led Effort Commemorates Soldiers at the UN Memorial Cemetery

      The Korean War was far more than a regional conflict; it was a battle for the principles of freedom and democracy. The United Nations (UN) forces, supported by medical assistance from 22 nations, came together in an unprecedented display of international cooperation, embodying a steadfast commitment to justice and peace. The soldiers who fought valiantly to defend South Korea left an indelible mark on the nation's history and the world. The freedoms enjoyed today were hard-won, forged through their immense sacrifice, bravery, and resilience.   A powerful symbol of this enduring legacy is the United Nations Memorial Cemetery in Korea (UNMCK)—the only UN memorial cemetery in existence. This sacred ground in Busan is the final resting place for the brave souls who gave their lives in the Korean War, chosen as it was the last line of defense during the war. The cemetery stands as a lasting testament to the protection and preservation of peace.   On June 25, 2024, the 74th UN Korean War Commemoration Day, I visited the United Nations Memorial Cemetery with a desire to understand the sacrifices made by these soldiers and the nations they represented. The visit was a poignant reminder of the immense cost of freedom, particularly as I witnessed the Pledge of Allegiance and prayers honoring those who fought and died between 1950 and 1953. I also had the privilege of exchanging words with Rear Admiral Neil Koprowski, current Commander of US Naval Forces Korea.   After the ceremony, I walked through the memorial plaques and the Wall of Remembrance, which bears the names of 40,896 UN soldiers who perished during the war. The experience instilled in me a deep sense of responsibility to preserve the memory of these sacrifices and to cherish the freedoms they secured. The contributions of UN and Korean soldiers were not just significant; they were instrumental in maintaining democracy and freedom in South Korea. The gratitude owed to both the fallen and active soldiers, especially from the U.S. and UN forces, cannot be overstated. These individuals continue to work toward preserving global freedom and liberty, a cause that demands our recognition and appreciation.   Inspired to express my respect and gratitude, I created a "Freedom Isn’t Free" shirt fundraiser to purchase wreaths for the cemetery. This effort has grown to include other youths—from middle schoolers to college students—who have joined in honoring the soldiers through fundraising and memorial activities. The United Nations Memorial Cemetery in Korea website offers a feature called “Finding the Interred at the UNMCK,” allowing individuals to learn about the soldiers buried there. Through this, I discovered and chose to make a gesture of respect for Mr. Jack D. Childress from Tennessee, whose bravery in both the Korean War and World War II left a lasting impression, on the day of his passing: August 8th. Students such as Alex Jongho Lee and Juyeon Cha have chosen to lay flowers for other courageous individuals like Russell Harold Johnstad and James Patrick Daunt.   Opportunities to express gratitude for the service and sacrifice of the UN forces are always available. I encourage everyone to learn more about these heroes and the United Nations Memorial Cemetery in Korea. By doing so, we not only honor their legacy but also ensure that their sacrifices are never forgotten.

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  2024-08-12

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• Foreign Minister Cho Tae-yul Attends G7 Foreign Ministers' Meeting in Italy

  Foreign Minister Cho Tae-yul attended the 2ndG7 Foreign Ministers' Meeting in Fiuggi, Italy, from November 25 to 26, where he engaged in discussions on critical global and regional issues. The meeting addressed illegal military cooperation between Russia and North Korea, diplomatic and security matters in the Indo-Pacific, and strategies for strengthening cooperation between South Korea and the G7.   The meeting, convened by G7 member states, invited foreign ministers, and representatives of international organizations, focused on key diplomatic and security challenges, including the war in Ukraine, developments in the Indo-Pacific, and issues in the Middle East. Minister Cho participated in a special Indo-Pacific outreach session under the theme of “Strengthening Cooperation and Connectivity in the Indo-Pacific,” where he provided South Korea’s perspective on pressing regional concerns.   During his remarks, Minister Cho emphasized the unprecedented level of interconnection between European and Indo-Pacific security. Highlighting North Korea’s deployment of troops to Russia, he noted this marked the first instance in history where Asian forces were dispatched to a European battlefield at the request of a European nation. He called for heightened international vigilance and outlined South Korea’s diplomatic and security strategies in response to the actions of Russia, North Korea, and Ukraine. Minister Cho underscored the urgency of robust international collaboration, particularly among like-minded countries in Europe and the Indo-Pacific, to halt illegal military cooperation between Russia and North Korea.   The meeting also explored the Indo-Pacific strategies of participating countries and ways to enhance cooperation with the G7. Minister Cho detailed South Korea’s diplomatic initiatives within the framework of its Indo-Pacific strategy, including partnerships with ASEAN and Pacific Island nations. He emphasized the critical importance of maintaining peace and stability in regional territory, including the South China Sea, and adhering to the principles of international law. As the incoming chair of APEC for 2025, Minister Cho committed to strengthening connectivity among countries in the region.   Addressing global challenges such as geopolitical competition and the fragmentation of the global economic order, Minister Cho underscored the importance of maintaining a rules-based international order. He reaffirmed South Korea’s commitment to close collaboration with the G7 on key regional and global issues as a prominent Indo-Pacific nation. Based on this efforts,  the South Korean government plans to continue enhancing its collaboration with the G7 to address major diplomatic and security issues effectively.

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  2024-12-02

• South Korea Pledges Leadership in Global Climate Action at G20 Summit

    President Yoon Suk-yeol announced South Korea’s commitment to actively serving as a "green ladder" for countries vulnerable to climate change during the G20 Summit on the 19th (local time). Speaking at the third session of the summit, which focused on sustainable development and energy transition, President Yoon outlined South Korea's contributions to tackling the climate crisis and advancing clean energy transitions.   Addressing the challenges of achieving carbon neutrality by 2050, President Yoon noted that while transitioning to clean energy is essential, the burden of doing so disproportionately affects emerging economies and developing nations. To support these efforts, he highlighted South Korea’s leadership in the Carbon-Free Energy (CFE) Initiative, first proposed at the UN General Assembly last year. He announced that South Korea will launch a global CFE task force in collaboration with partner nations during the Clean Energy Ministerial meeting in October. Additionally, the government plans to develop a carbon-free energy certification system to further expand the initiative.   President Yoon reiterated South Korea’s commitment to climate-vulnerable countries by emphasizing its expanded role in Green Official Development Assistance (ODA). He highlighted the ongoing implementation of an additional $300 million contribution to the Green Climate Fund (GCF), fulfilling a pledge made at last year’s G20 Summit in New Delhi. He also announced a new $7 million contribution to the “Loss and Damage Response Fund,” a commitment made during this year’s Korea-Africa Summit.   On mobilizing private-sector resources for sustainable development, President Yoon pledged to mitigate risks associated with renewable energy investments to encourage private green financing. He emphasized accelerating clean energy development through the introduction of market mechanisms, such as a clean hydrogen power bidding system.   Recognizing the broader environmental challenges, President Yoon stressed the importance of reducing plastic pollution as part of sustainable development efforts. He affirmed the South Korean government’s support for the successful conclusion of the fifth intergovernmental negotiations on the International Plastics Treaty, set to begin in Busan on November 25.   The President also addressed the rising energy consumption linked to advanced digital technologies, underlining the importance of achieving “digital carbon neutrality.” He called on G20 members to actively participate in these efforts to align digital innovation with climate goals.   Looking ahead, President Yoon introduced the theme of the 2025 APEC Summit, “Creating a Sustainable Tomorrow Together,” which will be hosted in Gyeongju. He reaffirmed South Korea’s dedication to responsible leadership and its proactive role in building a sustainable future.  

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  2024-11-25

• South Korea Showcases Climate Action Efforts at COP29

    The Presidential Committee on Carbon Neutrality and Green Growth will introduce South Korea's efforts to address the climate crisis at the 29th United Nations Climate Change Conference (COP29), taking place in Baku, Azerbaijan, from November 11 to November 22. During the conference,Koreawill host more than 40 side events, with the committee organizing seminars on key topics such asclimate finance, clean energy, and digital carbon neutrality. The committee will also engage in discussions on expanding carbon-free energy and setting international standards for the steel industry.   On November 12, the committee held a seminar titled ‘International Reduction Cooperation Partnership for Overcoming the Climate Crisis.’ This event has bring together nations that have pursued collaborative approaches based on Article 6 of the Paris Agreement to share experiences and explore ways to enhance the effectiveness of international reduction projects.   In addition to hosting events, the committee will participate in a seminar organized by the Carbon Free Alliance (CF) Secretariat titled ‘Carbon-Free Energy Initiative – New Solutions for Addressing the Climate Crisis.’ Here, the committee will advocate for accelerated energy transitions and the increased use of carbon-free energy sources as essential components for achieving carbon neutrality.   Han Hwa-jin, the civilian chair of the committee, will attend the International Climate Committee Network (ICCN) General Assembly, held alongside COP29, to underscore the importance of exchange and cooperation among national climate committees in climate governance and policy-making. During this assembly, she will also highlight South Korea’s potential role as a bridge between developed and developing countries in addressing the climate crisis.   The COP29 conference, held under the theme ‘In Solidarity for a Green World’, is expected to draw more than 40,000 participants from around 190 member governments, as well as representatives from international organizations, businesses, academia, media, and civil society. Key issues on the agenda include establishing new climate finance targets for the post-2025 period and setting detailed implementation rules for Article 6 of the Paris Agreement.

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  2024-11-18

• The 18th International Memorial Day Ceremony for UN Veterans Flyer

    The Ministry of Patriots and Veterans Affairs (Minister Kang Jeong-ae) announced that on Monday, the 11th, at 10:50 a.m., the 18th International Memorial Day ceremony for UN veterans, who sacrificed and dedicated themselves to protect the freedom of the Republic of Korea during the Korean War, will be held at the United Nations Memorial Cemetery in Busan, the only UN cemetery in the world.   Held under the theme “Turn Toward Busan,” this year’s event will welcome over 800 attendees, including UN veterans and their families from 20 countries, Korean veterans, foreign diplomats, UN Command personnel, and students.   [UN Unidentified Soldier Interment Ceremony]   At 10:30 a.m., prior to the memorial ceremony, there will be an interment ceremony for an unidentified UN soldier in the unknown soldiers’ section of the UN Memorial Cemetery. The remains, discovered in Baekryeong-ri, Yeoncheon-gun, Gyeonggi Province in 2010, were determined through DNA analysis to be those of a European male aged 17–25, who served in the UN forces. However, his nationality and identity remain unknown. This marks the first time that an unidentified UN veteran discovered after the armistice has been interred at the UN Memorial Cemetery.   The interment ceremony will follow a process of transporting the remains, lowering them into the grave, placing soil from the location where the remains were found, and offering floral tributes and silent prayers. The ceremony will be broadcast on a screen at the main venue.   [International Memorial Day Ceremony for UN Veterans]   Following the interment, the memorial ceremony will begin at 10:50 a.m. in the main symbolic area with the raising of the national flags of the participating countries, a tribute of flowers, speeches, a theme video, a remembrance address, and a dedication performance. The ceremony will last about 40 minutes.   The ceremony will commence with 48 students from Busan Foreign Language High School and ROK military personnel raising the flags of South Korea, the UN, and the 22 other countries that participated in the Korean War, in pairs. Following this, Second Lieutenant Jin Da-ye, a granddaughter of a veteran, will recite the pledge to the national flag, and a Ministry of Defense vocal unit will lead the national anthem. At 11 a.m., a minute of silent tribute will be observed across Busan, accompanied by a 21-gun salute in honor of the UN fallen soldiers.   After the silent tribute, wreaths representing South Korea and the 22 participating nations will be placed. This will be followed by remarks from representatives of the participating nations.   The memorial performance will include a letter of gratitude from Mary McIntosh, daughter of the late Melvin Maynard, a U.S. Marine veteran of the Incheon Landing, expressing appreciation to the UN veterans. Mary McIntosh, along with her family, will perform the commemorative song “The Hidden Path (가리워진길).” Her family’s connection to Korea spans three generations, from her father’s service in the Korean War to her husband’s mission work and her children’s careers in Korea.   Following the memorial performance, a theme video will highlight that today’s development and prosperity in Korea stem from the “seeds of freedom and peace” planted by UN veterans over 70 years ago.   After the tribute speech, a declaration of peace dedicated to UN veterans will be read by members of the Veterans Honors Club, including Seol Dong-min (co-CEO of Made in People), Seon Ho-seung (an elementary school teacher), Campbell Asia, and student representative Kim Si-yeon (a Naval ROTC cadet from Pukyong National University). This declaration, produced in album format, will be presented to 12 UN veterans attending the ceremony.   The ceremony will conclude with a choral rendition of the dedication song “See You Again” by the Ministry of Defense vocal unit and the Raon Youth Choir, followed by a commemorative flight by the Air Force Black Eagles.     Minister of Patriots and Veterans Affairs Kang Jeong-ae stated, “The government and the people of Korea will forever remember that the seeds of freedom sown by UN veterans over 70 years ago have grown into today’s peace and prosperity. We will strive to honor the veterans, strengthen solidarity with participating nations, and pass on the legacy of UN participation in the Korean War to future generations.”

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  2024-11-12

• Korea and EU Strengthen Security and Defense Partnership in First Strategic Dialogue

    On November 4, Foreign Minister Cho Tae-yul held the first Korea-EU Strategic Dialogue with Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy. The discussions addressed key topics including Korea-EU relations, Russia-North Korea cooperation and the situation on the Korean Peninsula, as well as regional and international developments.   Minister Cho and High Representative Borrell underscored the importance of this strategic dialogue, noting its timely significance amid a geopolitical landscape where security dynamics in Europe and the Indo-Pacific are increasingly intertwined, as exemplified by North Korea’s recent military deployments to Russia. The dialogue was the first to take place since its establishment was agreed upon at the Korea-EU summit in Seoul in May, aiming to strengthen the Korea-EU strategic partnership, founded on shared core values and solidarity.   In line with last May’s summit, the two leaders welcomed the adoption of a Korea-EU Security and Defense Partnership document during the dialogue. This new partnership framework encompasses collaboration in 15 areas of security and defense, including maritime security, cybersecurity, arms control, non-proliferation, and the defense industry. Through this agreement, Korea and the EU intend to enhance their joint responses to growing global security threats. Notably, this non-binding political document makes Korea the EU’s fourth partner—following Moldova, Norway, and Japan—to sign such an agreement.   In a joint statement, Minister Cho and High Representative Borrell condemned North Korea’s support for Russia’s invasion of Ukraine through illegal arms transfers and the deployment of special forces, actions that they emphasized as threats to global security, including that of Korea and Europe. They called for North Korea’s immediate withdrawal of troops and the cessation of all military cooperation with Russia. Both leaders reaffirmed that North Korea cannot and will not attain nuclear-weapon-state status under the Non-Proliferation Treaty (NPT), urging North Korea to take concrete steps toward denuclearization. To this end, Korea and the EU committed to closely monitor any compensation Russia provides to North Korea in return for military support and to coordinate necessary measures with the international community.   Minister Cho and High Representative Borrell also explored ways to expand collaboration in the implementation of their respective Indo-Pacific strategies. Minister Cho emphasized Korea’s emergence as a country dedicated to democratic values and capable of making meaningful contributions to international peace and prosperity. He expressed Korea’s intention to enhance cooperation with the G7 on major global issues. In response, High Representative Borrell affirmed the EU’s commitment to working closely with Korea, both bilaterally and multilaterally, to uphold a rules-based international order.  

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  2024-11-11

• Korea-Africa Economic Cooperation Task Force Launched to Advance Summit Follow-Up Initiatives

    On October 25, the Ministry of Foreign Affairs, under the leadership of Deputy Minister Jung Byung-won, formally launched the intergovernmental Economic Cooperation Task Force (TF) to guide and implement key follow-up initiatives from the recent Korea-Africa Summit. Chaired by Deputy Minister Jung, the inaugural meeting focused on aligningefforts to fulfill the summit's commitments, thereby strengthening bilateral cooperation with African nations.   In his opening remarks, Deputy Minister Jung emphasized the strong interest African countries have shown in advancing post-summit actions. He highlighted the importance of a systematic approach to realizing the summit's achievements and stated that the Economic Cooperation TF was specifically established to facilitate the execution of essential economic cooperation projects between Korea and Africa.   The TF is structured to focus on several key areas of collaboration, including trade and investment, energy, critical minerals, development finance, and infrastructure. During the meeting, team members evaluated the current status of projects within each sector and deliberated on strategic plans for future activities. To ensure consistent progress, the TF will conduct regular meetings, both within individual teams and across the organization, to closely monitor the implementation of Korea-Africa summit commitments.   Representatives from major Korean companies operating in Africa, such as POSCO International and Daewoo Engineering & Construction, were also invited to the meeting to explore possibilities for public-private collaboration. POSCO International presented its ongoing efforts to diversify the critical minerals supply chain through equity investments in Tanzania’s Mahenge graphite mine. Daewoo E&C detailed its extensive experience executing projects across Africa, including in Nigeria, Libya, and Mozambique. Both companies requested continued government support to ensure stability in their African operations and to enhance their competitive edge in securing regional contracts.   The launch of the intergovernmental Economic Cooperation TF is regarded as a pivotal step in systematically advancing the economic cooperation framework established at the Korea-Africa Summit. This collaborative effort provides a structured foundation for building resilient, mutually beneficial partnerships between Korea and Africa, driving forward trade, investment, and sustainable development for both regions.

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  2024-11-04

• IMF Maintains Global Growth Forecast Amid Rising Geopolitical Tensions

    The International Monetary Fund (IMF) released its World Economic Outlook (WEO) Report on the 22nd, maintaining its global economic growth forecast for this year at 3.2%, consistent with July's projections.   While keeping its growth outlook steady, the IMF cautioned that deepening geopolitical tensions could threaten long-term global economic prospects. The report expressed concern that persistent geopolitical rifts may reshape global trade, leading to substantial economic disruptions.   According to the report, a more fragmented global trade system could emerge if geopolitical tensions continue to escalate. Such fragmentation may weaken supply chains, increase financing costs, and disrupt cross-border capital flows. The efficiency of global markets could also suffer, with the transfer of knowledge and technology between advanced and developing economies slowing. Additionally, the IMF noted that corporate costs and risks are likely to rise, especially with the financial pressures associated with green transition efforts.   IMF Chief Economist Pierre-Olivier Gourinchas, in a press briefing, elaborated on the potential fallout from rising trade tensions. He explained that higher tariffs between countries could distort trade flows, resulting in inefficient resource allocation and slower economic activity. Furthermore, uncertainty around future trade policies could dampen investment, consumption, and overall economic activity, further constraining growth.   The 2024 IMF and World Bank (WB) Annual Meetings are being held in Washington from October 21 to 26. During her opening speech at the event, IMF Managing Director Kristalina Georgieva acknowledged the difficult geopolitical climate, urging policymakers to collaborate in addressing pressing global challenges. These include trade tensions, climate change, and the growing influence of artificial intelligence (AI). Georgieva emphasized the need for coordinated efforts to ease geopolitical tensions and support global stability.     As global economic uncertainties persist, the IMF's warnings underscore the potential long-term risks of a fractured global economy. The report calls for swift action to mitigate these challenges before they further undermine economic growth.

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  2024-10-28

• Korea and Singapore Forge Stronger Economic Partnerships for the Future

    On October 8, President Yoon Suk-yeol attended the Korea-Singapore Business Forum at a downtown hotel in Singapore, following his participation in a similar forum in the Philippines the previous day. The president's continued engagement with business leaders reflects his ongoing efforts to strengthen economic ties in the region.   During his keynote speech, President Yoon highlighted the close cooperation between Korea and Singapore over the past 50 years, noting that both countries have worked toward a free and open economy. This collaboration, he stated, has been a key factor in their shared economic growth. The president emphasized that, thanks to the challenges and successes of business leaders, trade between the two nations has increased 400-fold, while investments have grown by more than 4,000 times.   President Yoon also underscored the significance of the ‘MOU on High-tech Industry Technology Cooperation’ signed during the forum, emphasizing that the agreement would promote collaboration between businesses from both nations to drive technological innovation across various sectors.   He reaffirmed that Korea and Singapore would emerge not only as partners in innovation but also as key allies in economic security. Highlighting Singapore’s status as a global logistics hub connected to 600 ports in 120 countries, President Yoon suggested that sharing Korea’s supply chain data with Singapore’s logistical information would help ensure mutual prosperity. He announced that both nations had signed the’ Supply Chain Partnership Arrangement (SCPA),’ marking Korea’s first bilateral supply chain partnership arrangement.   Finally, President Yoon discussed Singapore’s significance as a global hub for LNG trading, with Korea being the world’s third-largest LNG importer. He noted that the two countries had signed an ‘LNG Cooperation MOU,’ which would promote joint efforts in LNG swaps and procurement to stabilize both the supply and price of natural gas. The president pledged ongoing support for businesses in both countries to efficiently expand their supply chains and focus on economic growth

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  2024-10-21

• President Yoon Convenes Emergency Economic and Security Meeting Amid Middle East Tensions

    On October 2, President Yoon Suk-yeol presided over an "Emergency Economic and Security Meeting" at the presidential office in Yongsan. The meeting was convened to assess the rapidly escalating situation in the Middle East, particularly following the recent military clashes between Israel and Hezbollah, and to discuss the potential impact on South Korea’s security and economy, while outlining future response measures. Participants reviewed the current state of affairs in the region, evaluating the safety of South Korean citizens abroad, domestic businesses, deployed military units, and diplomatic missions. The group also examined various contingency plans for all possible scenarios. Special attention was given to monitoring the movements in global oil prices and exchange rates, as well as the broader ripple effects these could have on South Korea’s economy, including the supply chain and inflation.  President Yoon underscored the importance of protecting South Korean citizens in Israel and the broader Middle East, instructing all necessary measures to be taken. The president ordered the immediate deployment of military transport aircraft to assist with the evacuation of South Koreans if needed. He also emphasized the need for close cooperation with the international community to restore stability in the region as quickly as possible. Given the heightened uncertainty in the Middle East, Yoon directed the government to maintain a 24-hour monitoring system, ensuring close collaboration among relevant ministries and agencies while remaining prepared for any possible developments. He also called for a comprehensive analysis of potential risks to South Korea’s economy and security, including energy supply, export-import logistics, and supply chains, urging swift and effective countermeasures when necessary.

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  2024-10-07

• President Yoon Visits Czech Republic’s Doosan Škoda Power

  On the morning of September 20, President Yoon Suk Yeol, alongside Czech Prime Minister Petr Fiala, visited the Plzeň-based companies Doosan Škoda Power and Škoda JS. These firms are known for their core turbine technology and expertise in producing nuclear power plant equipment.    Upon arrival at Doosan Škoda Power, the two leaders participated in the "Nuclear Power Plant Full-Cycle Cooperation Agreement Ceremony." The event, attended by key nuclear-related companies, institutions, organizations from both nations, and Doosan Škoda Power employees, saw the signing of 13 Memorandums of Understanding (MOUs). These agreements cover critical areas of the nuclear ecosystem, including plant design, operation, nuclear fuel, and waste management.    A key development during the ceremony was the agreement signed by Korea Hydro & Nuclear Power (KHNP), the preferred bidder for the Czech nuclear power plant construction project, along with Doosan Enerbility and Doosan Škoda Power. The agreement stipulates that if KHNP finalizes the contract for the new Czech nuclear power plant in March next year, turbines produced by Doosan Škoda Power in Plzeň will be used in the plant. This marks the first step toward realizing the vision of a “jointly built nuclear power plant” by Korea and the Czech Republic.   In his subsequent remarks, President Yoon highlighted three key points regarding the partnership. First, he emphasized that "Team Korea" has over 50 years of experience in safely constructing and operating nuclear power plants, expressing confidence that Korea would be the ideal partner for the Czech Republic. He assured that Korea would deliver the project "on time and on budget."   Finally, President Yoon suggested that through nuclear cooperation, Korea and the Czech Republic could become leading players in the global nuclear renaissance. He called for the excellent nuclear power companies from both nations to unite in driving this shared future.    

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  2024-09-30