Latest news with #Lee Jae Myung
Al Arabiya
2 days ago
- Business
- Al Arabiya
South Korea national security adviser travels to Washington ahead of tariff deadline
South Korea's national security adviser has headed to Washington, authorities said on Sunday, with less than two weeks to go until US President Donald Trump's Aug. 1 deadline to secure a trade deal or face steep tariffs. Wi Sung-lac's trip comes just two weeks after his last visit to Washington for talks on tariffs and security. After Trump's announcement, South Korea said it planned to intensify trade talks. There were no immediate details on who he was planning to meet. Presidential aide Woo Sang-ho told journalists Wi would engage in negotiations on various issues, without elaborating. Earlier this month, Trump said he planned to impose a 25 percent tariff on South Korea from August 1, posing the first major test for South Korea's President Lee Jae Myung since he came to office barely a month ago. On his last trip to Washington, Wi said he had met US Secretary of State Marco Rubio and proposed including security and investments in trade negotiations. Wi also proposed an early summit between the leaders of the two countries, according to media reports.
Reuters
2 days ago
- Business
- Reuters
South Korea national security adviser travels to Washington ahead of tariff deadline
SEOUL, July 20 (Reuters) - South Korea's national security adviser has headed to Washington, authorities said on Sunday, with less than two weeks to go until U.S. President Donald Trump's Aug. 1 deadline to secure a trade deal or face steep tariffs. Wi Sung-lac's trip comes just two weeks after his last visit to Washington for talks on tariffs and security. After Trump's announcement, South Korea said it planned to intensify trade talks. There were no immediate details on who he was planning to meet. Presidential aide Woo Sang-ho told journalists Wi would engage in negotiations on various issues, without elaborating. Earlier this month, Trump said he planned to impose a 25% tariff on South Korea from August 1, posing the first major test for South Korea's President Lee Jae Myung since he came to office barely a month ago. On his last trip to Washington, Wi said he had met U.S. Secretary of State Marco Rubio and proposed including security and investments in trade negotiations. Wi also proposed an early summit between the leaders of the two countries, according to media reports.
Bloomberg
5 days ago
- Business
- Bloomberg
South Korean Minister Nominee Says US Deal Possible in Two Weeks
South Korea's foreign minister nominee said he believes it may be possible to reach a trade deal with the US before the 25% across-the-board tariffs proposed by President Donald Trump take effect in August. 'It seems possible,' Cho Hyun, President Lee Jae Myung's pick to be his top diplomat, said during his confirmation hearing in parliament Thursday. 'It is difficult to predict, but we are making every effort on our end, and from the US perspective, too, we are not only a very important ally but also a key trade partner, so I think they will prioritize negotiating with us.'
Yahoo
12-07-2025
- Business
- Yahoo
JPMorgan Says Korean Stock Gauge May Near 5,000 Over Two Years
(Bloomberg) -- South Korea's equity benchmark may rise more than 50% from its current level over a two-year period should corporate governance reforms gain momentum, according to JPMorgan Chase & Co. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis Denver City Hall Takes a Page From NASA Korea remains a key overweight market in Asia and among emerging markets, strategists led by Mixo Das wrote in a note on Friday. The Kospi Index, which has gained 32% so far this year to near a record high, could reach around 5,000, they said. That compares with Friday's close of around 3,176. The bullish outlook comes as JPMorgan raised Korea stocks to overweight from neutral this week, citing President Lee Jae Myung's aim to unlock 'the next phase of governance reforms' and his pledge to lift the Kospi to 5,000 during his five-year term. Lee also wants to tackle the so-called Korea discount, a long-standing grievance among global investors on a valuation gap compared to regional peers such as Japan and Taiwan. 'We continue to recommend adding on any volatility as long as the reform process remains on track,' the strategists said. 'Any volatility in global/regional equities over the summer — on tariff concerns, growth slowdown, bond market volatility — could thus quickly invite buying.' Recent reforms, including the passage of the commercial code revision, have been supercharging the nation's $2.1 trillion stock market. The Kospi is one of the best-performing gauges in the world this year. The Kospi could end up trading between 3,200 and 3,500 over the rest of the year, the JPMorgan strategists wrote, pointing to PharmaResearch Co.'s spin-off plan cancelation this week as a positive sign that demonstrates 'apparent bipartisan support' for further reforms. 'Ironically, foreign buying in the market this time around is far more muted, than in early 2024,' according to the strategists. 'But given the interest we receive from global investors, we believe this is more a case of investors looking for better entry points.' Trump's Cuts Are Making Federal Data Disappear Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Soccer Players Are Being Seriously Overworked Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P.
