SOUTH KOREA
Indian pharma exporters feel pain on Bangladesh crisis
The political unrest and violence in Bangladesh are posing significant challenges for Indian pharmaceutical exporters, leading to stranded funds and concerns over financial stability. This situation threatens to impact medicine availability and healthcare services in Bangladesh. Despite the market's growth potential, many Indian companies are now hesitant to supply without advance payments, emphasising the importance of risk management in this unpredictable scenario.
South Korea to ask Telegram, other social media firms to help tackle digital sex crimes
South Korean authorities plan to seek more cooperation from social media platforms like Telegram to combat sexually explicit deepfake content. Steps include a 24-hour victim hotline and doubling digital sex crime monitoring personnel. Police will intensify efforts to tackle online sex crimes over the next seven months.
North Korea test-fires rocket launcher with new 'guiding system'
North Korea's Kim Jong Un supervised the test-firing of a 240mm multiple rocket launcher, enhanced with a new guiding system. This development follows North Korea's ongoing efforts to upgrade its military capabilities. The test occurs amid strained relations with South Korea and the annual joint military drills between the US and South Korea.
This is the best country in Europe for Americans to relocate
Due to inflation and the rise in the number of people working from home, the United States citizens would love to relocate in Europe given the number of incentives one gets to enjoy in European countries.
South Korea must 'eradicate' deepfake porn crimes, president says
South Korea's president has called for an investigation into deepfake porn after media reports revealed Telegram chatrooms sharing explicit images of minors. The scandal has ignited public outrage. Activists criticise the government's approach, emphasizing the need for stricter laws to combat digital sex crimes effectively.
Stocks, bonds face pressure ahead of Powell speech: Markets wrap
Japanese equities showed resilience while other Asian markets opened lower as investors awaited comments from Jerome Powell. US stocks experienced a selloff, with significant drops in Nvidia and Intel. Rising inflation in Japan exceeded forecasts, and the yen strengthened. Investors are closely monitoring potential economic policy changes and their impacts.
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India remains net steel importer in April-July as Chinese shipments rise
India has been a net importer of steel during April to July of the current fiscal year, importing 2.69 million tons, primarily from China. Meanwhile, exports totaled 1.57 million tons. The increasing imports have driven down steel prices to their lowest in more than three years. Major steel companies have expressed concerns over rising imports.
US and South Korea hold joint air drills to counter North Korea threat
Over 200 South Korean and U.S. fighter jets will participate in the largest joint air drills to date, flying continuous sorties for five days. These exercises, part of the annual Ulchi Freedom Shield, are aimed at enhancing military readiness against North Korean threats. The drills include simulated air combat and missile defense scenarios. North Korea, which relies on outdated aircraft, has criticized the drills as provocative, while advancing its own short-range missile and nuclear capabilities.
South Korea, US kick off annual drills over North's military, cyber threats
The drills will reflect "realistic threats" across all domains, including the North's missile threats but also GPS jamming, cyberattacks and other lessons learned from recent incidents, the two countries' militaries have said. South Korea will separately carry out the simultaneous government-led Ulchi civil defence drills, under the scenario of a nuclear attack by the North, officials said.
South Korean AI chip makers Rebellions and Sapeon agree to merge
Rebellions received a $15 million investment from Wa'ed Ventures, a venture capital arm of Saudi Aramco, in July. Rebellions said this brought its total funding to more than $225 million.
North Korea to reopen borders for tourists after 5 years
North Korea plans to restart international tourism in its northeastern city of Samjiyon starting December 2024, following a long hiatus due to COVID-19. This marks the first time in over four years that the country will open its doors to foreign visitors on such a scale.
Telangana CM meets officials of Hyundai Motor in South Korea to attract investment
Telangana Chief Minister Revanth Reddy and IT Minister Sridhar Babu met officials of Hyundai Motor in Seoul to attract investments. Hyundai Motor India Engineering plans to set up a Mega Test Centre in Telangana, featuring automated test tracks and a car manufacturing facility, which is expected to create direct and indirect employment in the region.
South Korean nuclear weapons would fracture US ties, defence chief says
South Korea could jeopardize its alliance with the United States and cause upheaval in financial markets if it starts developing nuclear weapons, according to Defence Minister Shin Won-sik. He addressed growing calls within South Korea for its own nuclear arsenal to counter North Korea's expanding nuclear and missile capabilities.
North Korea's Kim Jong Un unveils 250 new tactical ballistic missile launchers
North Korea has unveiled a new tactical ballistic missile system, with 250 launchers, at a ceremony overseen by Kim Jong Un in Pyongyang on August 4. The system, possibly the "Hwasong-11" launcher, is expected to be deployed near the South Korean border. Kim emphasized North Korea's enhanced nuclear readiness in response to US-led alliances. The event follows recent North Korean missile tests and international condemnations of its missile programs, as well as a new strategic partnership treaty with Russia.
When South Korea was misidentified as North Korea at the Paris Olympics opening ceremony
The South Korean contingent at the Paris Olympics was mistakenly introduced as North Korea during the opening ceremony, causing diplomatic concerns. The mistake occurred when the announcer referred to the South Korean athletes as representing North Korea in both French and English. South Korea's Vice Minister for Sports and Culture, Jang Mi-ran, requested an urgent meeting with International Olympic Committee President Thomas Bach to address the issue.
North Korean diplomat in Cuba defected to South Korea in November, Seoul says
NIS confirmed Ri Il Kyu's defection from Cuba to South Korea with family due to disillusionment. Yonhap mentioned job conflicts; Chosun Ilbo reported the case. 2016 saw Tae Yongho's defection, now a parliament member. 2019 saw North Korean ambassadors Jo Song Gil and Ryu Hyun-woo (Italy, Kuwait) defect. Pyongyang executions and 34,000 elite North Korean defections were noted.
North Korea threatens to boost nuclear capability in reaction to US-South Korea deterrence guidelines
North Korea threatened to enhance its nuclear capabilities and retaliate against the US and South Korea for allegedly planning an invasion This comes following the authorisation of joint nuclear deterrence guidelines by President Biden and South Korean President Yoon. The guidelines aim to strengthen their response to North Korea's nuclear arsenal. North Korea warned of severe consequences if its enemies continue provocative actions, emphasising the need to bolster its nuclear deterrent readiness.
Russia accuses South Korea of blackmail and threats over potential weapons supplies to Ukraine
In late June, South Korean National Security Advisor Chang Ho-jin said Seoul might review the possibility of supplying weapons to Ukraine, after North Korea and Russia signed a pact pledging mutual defence in the event of war.
US and South Korea sign joint nuclear deterrence guidelines in face of North Korean threats
The US and South Korea have signed joint nuclear deterrence guidelines, marking a significant step in their alliance, following a defense pact between North Korea and Russia. The US will retain control of its nuclear weapons, while South Korea will have its own nuclear consultation body.
South Korea to deploy 'StarWars' lasers against North's drones
South Korea is set to deploy laser weapons to combat North Korean drones, costing $1.45 per shot and developed by Hanwha Aerospace. The weapons have a 100 per cent successful shoot-down rate in tests and potential future capabilities to counter aircraft and missiles. Some analysts caution on practical use and operational range. Tensions remain high between the two Koreas, with South Korea suspending military deals and resuming drills amid while North Korean has increased its weapons testing.
Sister of North Korean leader Kim calls South Korea's live-fire drills 'suicidal hysteria'
Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, condemned South Korea's recent front-line live-fire drills as "suicidal hysteria" and warned of military actions if further provoked. She criticized South Korea's conservative government for escalating tensions near the border, which she claimed were aimed at diverting attention from domestic political issues. Kim Yo Jong's statement, carried by state media, hinted at potential military responses if North Korea perceives South Korean actions as violating its sovereignty or provoking war.
South Korea's Yoon to discuss Pyongyang's 'distinct threat' to Europe at NATO
South Korean President Yoon Suk Yeol plans to discuss North Korea's threat to Europe, due to its military ties with Russia, at the NATO summit in Washington. Yoon emphasized that Russia must choose its alignment, warning that military cooperation between Russia and North Korea threatens global security. He noted that South Korea's support for Ukraine would depend on Russia's actions. Yoon aims to strengthen South Korea's security ties with Europe and the U.S. and boost its role in global security matters. South Korea will also host a NATO cyber defense exercise in September.
North Korea says its recent missile tests involved new ballistic missile with 'super-large warhead'
North Korea announced Tuesday the successful test-firing of a new tactical ballistic missile, named Hwasongpho-11Da-4.5, capable of carrying a 4.5 ton-class "super-large warhead." The test aimed to verify flight stability and accuracy, with a range from 90 to 500 kilometers. South Korea reported two missiles launched, with differing flight paths: one reaching 600 kilometers and the other 120 kilometers. North Korea plans further tests in July. These developments follow heightened North Korean military activities since 2022, focusing on expanding its nuclear-capable arsenal amid regional tensions with the U.S., South Korea, and Japan.
N. Korea fires two short-range ballistic missiles, one fails
North Korea fired two short-range ballistic missiles, with one launch failing, South Korea's military reported Monday. The launches followed North Korea's warning of "fatal consequences" after joint military exercises by South Korea, Japan, and the US. The first missile flew 600 km, while the second traveled 120 km and seemed to explode mid-air. The launches come amid tensions over accusations that North Korea supplied weapons to Russia for its war in Ukraine and ongoing military activities in both Koreas.
North Korea test-launches 2 ballistic missiles, after end of new US-South Korea-Japan drill
North Korea test-fired two ballistic missiles on Monday, following a vow of "offensive and overwhelming" responses to recent US-South Korea-Japan military drills. The missiles were launched from Jangyon, with the first traveling 600 km and the second 120 km. The first missile landed in the waters off Chongjin, while the second likely crashed inland. The test comes amid heightened tensions, with North Korea condemning the "Freedom Edge" drill and asserting defensive measures against perceived threats from the trilateral alliance and regional pressures.
N. Korea condemns drills by US, Japan, S. Korea as 'Asian NATO'
North Korea has condemned joint military exercises involving South Korea, Japan, and the United States, likening them to an "Asian version of NATO" and warning of severe consequences. The drills, named "Freedom Edge," focused on ballistic missile defense, anti-submarine warfare, and cyber defense. Pyongyang, through its foreign ministry, criticized these exercises as provocative and accused the US, Japan, and South Korea of forming a military bloc against North Korea. The North has historically viewed such drills as preparations for invasion, amid ongoing tensions and cross-border provocations with South Korea.
North Korea says it tested a new multiwarhead missile. South Korea says it's covering up a failure
North Korea announced a successful test of a multiwarhead missile aimed at enhancing its capability to overcome US and South Korean defenses. However, South Korea disputed this claim, asserting the missile launch had actually failed. North Korea's state media reported the test involved separating and guiding warheads accurately, showcasing progress in its missile development despite technical challenges. Analysts anticipate further tests to refine this technology, which includes decoys to evade missile defenses. The test coincides with heightened regional tensions, including North Korea's objections to US military presence and provocative actions toward South Korea.
N. Korea may have used hypersonic missile in failed launch, South's military says
North Korea's missile launch on Wednesday ended in failure as the device exploded mid-air, according to South Korea's military. Officials suspect that the failed launch involved a hypersonic missile.
US aircraft carrier arrives in South Korea as a show of force against nuclear-armed North Korea
A U.S. aircraft carrier, the USS Theodore Roosevelt, has arrived in South Korea for a joint exercise involving Japan, aimed at bolstering military readiness against North Korean threats. The exercise, called Freedom Edge, follows heightened tensions after a security pact between Russia and North Korea. The U.S., South Korea, and Japan are increasing military cooperation, with the USS Roosevelt strike group expected to participate in the drills. The group will later head to the Middle East to promote regional stability and protect commerce.
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