Latest news with #AhnYoung-joon
Japan Today
3 days ago
- Business
- Japan Today
Asian shares mixed after U.S. stocks hit an all-time high
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, June 30, 2025. (AP Photo/Ahn Young-joon) By ELAINE KURTENBACH Asian shares started the week with gains after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration's trade policies. Canada's decision to cancel a plan to tax U.S. technology firms that had led President Donald Trump to halt trade talks helped to steady the markets. U.S. stock futures advanced after Canadian Prime Minister Mark Carney said the talks had resumed. In Tokyo, the Nikkei 225 climbed 0.6% to 40,395.99. Hong Kong's Hang Seng lost 0.3% to 24,207.36, while the Shanghai Composite index advanced 0.5% to 3,438.46. China reported that its factory activity improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others' exports, though manufacturing remained in contraction. In South Korea, the Kospi gained 0.5% to 3,070.93. Australia's S&P/ASX 200 jumped 0.6% to 8,560.80. Taiwan's Taiex lost 1.4% and the Sensex in India was down 0.4%. In Bangkok, the SET was up 0.3%. On Friday, the S&P 500 rose 0.5% to 6,173.07, above its previous record set in February. The key measure of Wall Street's health fell nearly 20% from Feb. 19 through April 8. The Nasdaq composite gained 0.5% to 20,273.46, its own all-time high. The Dow Jones Industrial Average rose 1% to 43,819.27. The gains on Friday were broad, with nearly every sector within the S&P 500 rising. Nike soared 15.2% for the biggest gain in the market, despite warning of a steep hit from tariffs. An update on inflation Friday showed prices ticked higher in May, though the rate mostly matched economists' projections. Inflation remains a big concern. Trump's on-again-off-again tariff policy has made it difficult for companies to make financial forecasts and strained household budgets. A long list of businesses from carmakers to retailers have warned that higher import taxes will likely hurt their revenues and profits. The U.S. has 10% baseline tariffs on all imported goods, along with higher rates for Chinese goods and other import taxes on steel and autos and the threat of more severe tariffs continues to hang over the economy. The current pause on a round of retaliatory tariffs against a long list of nations is set to expire on July 9. Failure to negotiate deals or further postpone the tariffs could once again rattle investors and consumers. In an interview with Fox News Channel's 'Sunday Morning Futures,' Trump said his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out 'pretty soon' before the approaching deadline, he said. The Federal Reserve is monitoring the tariff situation with a big focus on inflation. The rate of inflation has been stubbornly sitting just above the central bank's target of 2%. In a report Friday, its preferred gauge, the personal consumption expenditures index, rose to 2.3% in May. That's up from 2.2% the previous month. The Fed cut interest rates three times in late 2024 following a historic series of rate hikes to cool inflation. The PCE was as high as 7.2% in 2022 while the more commonly used consumer price index hit 9.1%. The Fed hasn't cut rates so far in 2025 over worries that tariffs could reignite inflation and hamper the economy. Economists still expect at least two rate cuts before the end of the year. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.28% from 4.27% late Friday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, stood at 3.74%. In other dealings early Monday, U.S. benchmark crude oil lost 8 cents to $65.44 per barrel. Brent crude, the international standard, gained 6 cents to $66.86 per barrel. The U.S. dollar fell to 143.93 Japanese yen from 144.46 yen. The euro rose to $1.1730 from $1.1725. __ AP Business Writers Damian J. Troise and Alex Veiga contributed. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
The Star
13-06-2025
- Politics
- The Star
South Korea President Lee promises to help companies minimise difficulties from competing globally
FILE PHOTO: South Korean President Lee Jae-myung speaks during a press conference at the Presidential office in Seoul, South Korea, Wednesday, June 4, 2025. Ahn Young-joon/Pool via REUTERS/File Photo
Japan Today
11-06-2025
- Politics
- Japan Today
South Korea halts propaganda broadcasts along border with rival North in a move to ease tensions
FILE - A South Korean military vehicle with loudspeakers is seen in front of the barbed-wire fence in Paju, near the border with North Korea, on Feb. 15, 2018.(AP Photo/Ahn Young-joon, File) By KIM TONG-HYUNG South Korea's military shut down loudspeakers broadcasting anti-North Korea propaganda along the inter-Korean border on Wednesday, marking the new liberal government's first concrete step toward easing tensions between the war-divided rivals. The South resumed the daily loudspeaker broadcasts in June last year following a yearslong pause in retaliation for North Korea flying trash-laden balloons toward the South in a psychological warfare campaign. South Korea's Defense Ministry said the move, ordered by President Lee Jae-myung, was part of efforts 'to restore trust in inter-Korean relations and promote peace on the Korean Peninsula.' Kang Yu-jung, Lee's spokesperson, described the decision as a 'proactive step' to reduce military tensions and ease the burden for South Koreans residing in border areas, who have also been affected by North Korea's retaliatory loudspeaker broadcasts. North Korea, which is extremely sensitive to any outside criticism of its authoritarian leadership and its third-generation ruler, Kim Jong Un, didn't immediately comment on the step by Seoul. South Korea reactivated its front-line loudspeakers to blast propaganda messages and K-pop songs toward the North last year in response to thousands of trash balloons that Pyongyang flew toward South Korea to drop substances including wastepaper, cloth scraps, cigarette butts and even manure. From May to November last year, North Korea flew about 7,000 balloons toward South Korea in 32 separate occasions, according to the South's military. The North said that its balloon campaign came after South Korean activists sent over balloons filled with anti-North Korean leaflets, as well as USB sticks filled with popular South Korean songs and dramas. Trash carried by at least one North Korean balloon fell on the South Korean presidential compound in July, raising concerns about the vulnerability of key South Korean facilities. Officials said that the balloon contained no dangerous material and no one was hurt. The South's broadcast playlist was clearly designed to strike a nerve in Pyongyang, where Kim's government has been intensifying a campaign to eliminate the influence of South Korean pop culture and language among the population in a bid to strengthen his family's dynastic rule. The Cold War-style psychological warfare campaigns added to tensions fueled by North Korea's growing nuclear ambitions and South Korean efforts to expand joint military exercises with the United States and strengthen three-way security cooperation with Japan. Lee, an outspoken liberal who took office last week after winning an early election to replace ousted conservative Yoon Suk Yeol, has vowed to improve relations with Pyongyang, which reacted furiously to Yoon's hard-line policies and shunned dialogue. During his election campaign, Lee promised to halt the loudspeaker broadcasts, arguing that they created unnecessary tensions and discomfort for South Korean residents in border towns. In recent months, those residents had complained about North Korea's retaliatory broadcasts, which included howling animals, pounding gongs and other irritating sounds. In a briefing on Monday, South Korea's Unification Ministry, which handles inter-Korean affairs, also called for South Korean civilian activists to stop flying anti-North Korean propaganda leaflets across the border. Such activities 'could heighten tensions on the Korean Peninsula and threaten the lives and safety of residents in border areas,' said Koo Byoungsam, the ministry's spokesperson. In his inaugural address last week, Lee vowed to reopen communication channels with North Korea. But prospects for an early resumption of dialogue between the rival Koreas remain dim. North Korea has consistently rejected offers from South Korea and the United States since 2019, when nuclear talks between Washington and Pyongyang collapsed over sanctions-related disagreements. North Korea's priority in foreign policy is now firmly with Russia, which has received thousands of North Korean troops and large amounts of military equipment in recent months for its war with Ukraine. South Korean and U.S. officials have expressed concern that Kim in return could seek Russian technology transfers that could enhance the threat posed by his nuclear weapons and missile program. Yoon, who was removed from office in April over his short-lived imposition of martial law in December, had focused on strengthening military partnerships with Washington and Tokyo and on securing stronger U.S. assurances of a swift and decisive nuclear response to defend the South against a North Korean nuclear attack. In a fierce reaction to Yoon's policies, Kim declared in January 2024 that he was abandoning the long-standing goals of a peaceful unification with the South and instructed the rewriting of the North's constitution to cement the South as a permanent 'principal enemy.' Following years of heightened testing activity, Kim has acquired a broad range of missiles that could potentially target rivals in Asia and the U.S. mainland. He has also called for increased production of nuclear materials to create more bombs. Rafael Mariano Grossi, director of the International Atomic Energy Agency, said Monday that the U.N. nuclear watchdog is monitoring signs that North Korea may be building a new uranium-enrichment plant at its main nuclear complex in Yongbyon. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Toronto Sun
05-06-2025
- Politics
- Toronto Sun
North Korea's Kim says he'll 'unconditionally support' Russia's war against Ukraine
Published Jun 04, 2025 • 2 minute read A TV screen shows a file image of North Korean leader Kim Jong Un during a news program at Seoul Railway Station in Seoul, South Korea, Thursday, May 22, 2025. Photo by Ahn Young-joon / AP Photo SEOUL, South Korea — North Korean leader Kim Jong Un told a visiting top Russian official that his country will 'unconditionally support' Russia's war against Ukraine, the North's state media reported Thursday, the latest sign of expanding cooperation between the two nations. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account In April, the two countries officially confirmed North Korean troops' deployment to Russia for the first time, saying that soldiers of the two countries were fighting alongside each other to repel a Ukrainian incursion into Russia's Kursk border region. At the time, Russian President Vladimir Putin thanked North Korea's participation in the war and promised not to forget their sacrifices. In a meeting with Russian Security Council Secretary Sergei Shoigu in Pyongyang on Wednesday, Kim affirmed that North Korea will 'unconditionally support the stand of Russia and its foreign policies in all the crucial international political issues including the Ukrainian issue,' the official Korean Central News Agency said. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Russian Security Council Secretary Sergei Shoigu attends the Security Council meeting in Moscow, Russia, Oct. 10, 2024. Photo by Mikhail Metzel / AP The two discussed how to solidify strategic partnership between North Korea and Russia and reached a consensus on the Ukraine issue and other unspecified international situations, KCNA said. It didn't elaborate. Russia's state Tass news agency, citing the Russian Security Council's press service, reported that Shoigu and Kim also discussed prospects for rebuilding the Kursk region and outlined steps to commemorate the contribution made by North Korean soldiers. Russia claimed in April 2025 that it had fully reclaimed the Kursk region, though Ukraine insists it still has troops present there. Ukraine's top army chief Oleksandr Syrskyi reiterated Saturday that Ukrainian forces were still holding territory in Russia's Kursk region. This advertisement has not loaded yet, but your article continues below. Shoigu last visited North Korea in March for a meeting with Kim. North Korea and Russia haven't said how many North Korean troops are in Russia. But U.S., South Korean and Ukraine intelligence officials earlier said North Korea dispatched 10,000-12,000 troops to Russia last fall in its first participation in a major armed conflict since the 1950-53 Korean War. South Korean authorities recently said North Korea sent around 3,000 additional troops to Russia earlier this year. North Korea has been supplying a vast amount of conventional weapons to Russia as well. South Korean, U.S. and their partners believe Russia has provided economic and military assistance to North Korea in return. They worry Russia might also transfer sophisticated technologies to help North Korea enhance its nuclear weapons program targeting its rivals. Canada Celebrity Columnists Canada Toronto & GTA
Toronto Sun
23-05-2025
- Politics
- Toronto Sun
Kim Jong Un vows to arrest those responsible for failed destroyer launch
Published May 23, 2025 • 4 minute read A TV screen shows a file image of North Korean leader Kim Jong Un during a news program at Seoul Railway Station in Seoul, South Korea, Thursday, May 22, 2025. Photo by Ahn Young-joon / AP SEOUL, South Korea (AP) — North Korea is seeking to arrest those responsible for the failed launch of its second naval destroyer, as it denied the warship suffered major damage — a claim quickly met with outside skepticism. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account A statement from North Korea on its handling of the botched launch came after leader Kim Jong Un expressed fury over the incident that he said was caused by criminal negligence. The main military committee said Friday that those responsible would be held accountable for their 'unpardonable criminal act.' Satellite imagery on the site showed the vessel lying on its side and draped in blue covers, with parts of it submerged. North Korea says it will take about 10 days to repair the damage, but outside observers question that timeframe because damage to the ship appeared much worse than what North Korea claims. Here is what you need to know about the failed ship launch: How much damage was there to the ship? North Korea's state media said Friday the severity of the damage to the 5,000-ton-class destroyer was 'not serious' as it canceled an earlier assessment that the bottom of the hull had been left with holes. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. It said the hull on the starboard side was scratched and some seawater had flowed into the stern section. It said it needs a total of 10 days to pump out the seawater, set the ship upright and fix the scratches. It's almost impossible to verify the assessment because of the extremely secretive nature of North Korea. It has a history of manipulating or covering up military-related setbacks, policy fiascoes and other mishaps, though it has periodically acknowledged some in recent years. Lee Illwoo, an expert with the Korea Defense Network in South Korea, said the North Korean warship likely suffered much worse damage, including the flooding of its engine room located in the stern section, and holes in the starboard. He said North Korea could simply set the ship upright, paint it over and claim the ship has been launched, but that repairs could take more than a year as the replacement of an engine requires cutting the hull. This advertisement has not loaded yet, but your article continues below. According to the North Korean account, the destroyer was damaged when a transport cradle on the ship's stern detached early during a launch ceremony at the northeastern port of Chongjin on Wednesday. Moon Keun-sik, a navy expert who teaches at Seoul's Hanyang University, said North Korean workers are probably not familiar with launching a 5,000-ton-class warship, which is a few times heavier than its existing main navy ships. Observers say North Korea tried to launch the destroyer sideways, a method it has never used for warships, although it has previously employed it with big cargo and passenger ships. Compared with those non-military vessels, Lee sad it would be more difficult to maintain balance with the destroyer because it's equipped with heavy weapons systems. He suspected North Korean scientists and officials likely did not factor that in. This advertisement has not loaded yet, but your article continues below. The damaged ship is assessed as the same class as North Korea's first destroyer, launched with great fanfare last month with a floating dry dock at a western shipyard. It is North Korea's biggest and most advanced warship to date, and Kim called its construction 'a breakthrough' in modernizing North Korea's naval forces to cope with what he calls U.S.-led security threats. Subsequently, a failure to launch the second destroyer was an embarrassment for Kim. But by disclosing the failure both internally and externally, Kim could be trying to show his resolve in building greater naval forces and boosting discipline at home. He ordered officials to repair the warship before a ruling Workers' Party meeting in late June. This advertisement has not loaded yet, but your article continues below. The official Korean Central News Agency said Friday that a team of prosecutors and experts began steps to arrest and investigate those responsible as part of their full-scale investigation into the case. KCNA said that Hong Kil Ho, manager of the Chongjin shipyard, has been summoned for questioning. 'No matter how good the state of the warship is, the fact that the accident is an unpardonable criminal act remains unchanged, and those responsible for it can never evade their responsibility for the crime,' the North's Central Military Commission said in an instruction to the investigation team, according to KCNA. Kim Dong-yub, a professor at the University of North Korean Studies in Seoul, said North Korea appears to be using the failed launch as a chance to strengthen the ruling party's control over science and technological sectors. Lee Choon Geun, an honorary research fellow at South Korea's Science and Technology Policy Institute, said that North Korea's handling of the damaged warship could have long-term consequences for its defence science sector. 'If scientists are held severely accountable, I would say the future of North Korea's defence science doesn't look very bright, as it would be a sign that political responsibility is being prioritized over technical accountability,' Lee wrote on Facebook. Toronto Maple Leafs Sunshine Girls Sunshine Girls Toronto & GTA Tennis
