The US and South Korea said they will end their annual large-scale joint military exercises as Washington pursues efforts to improve ties with North Korea. The decision comes days after the conclusion of US President Donald Trump's second summit with North Korean leader Kim Jong Un in Hanoi, which ended without a formal agreement but with both sides suggesting they would keep talking. During a Saturday phone call between South Korean Defence Minister Jeong Kyeong-doo and his US counterpart Patrick Shanahan, "both sides decided to conclude the Key Resolve and Foal Eagle series of exercises," according to a Pentagon statement. The two allies will instead carry out "adjusted outside manoeuvre trainings and united command exercises to continue firm military readiness", Seoul's defence ministry said Sunday. Foal Eagle is the biggest of the regular joint exercises held by the allies. In the past, it has involved 200,000 South Korean forces and some 30,000 US soldiers. It is … [Read more...] about US, South Korea to end key joint military exercises
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US, South Korea scale back military exercise
WASHINGTON — The United States and South Korea have scaled down a joint military exercise scheduled for the spring of 2019 to facilitate nuclear talks with North Korea, US Defence Secretary Jim Mattis said Wednesday. "Foal Eagle is being reorganised a bit to keep it at a level that will not be harmful to diplomacy," Mattis said, adding that it would be "reduced in scope." US and South Korean forces have been training together for years, and routinely rehearse everything from beach landings to an invasion from the North and even "decapitation" strikes targeting the North Korean regime. But personal insults and threats of war between US President Donald Trump and North Korean leader Kim Jong Un were replaced last year by a rapid diplomatic rapprochement. In April, citing a "fresh climate of detente and peace" on the peninsula, Kim declared the nuclear quest complete and said his country would focus on "socialist … [Read more...] about US, South Korea scale back military exercise
VN and South Korea discuss tax policies
A customs official checks goods at Beán Löùt Customs Sub-Department in the southern province of Long An. — VNA/VNS Photo Hoàng Hùng Viet Nam News HÀ NỘI — Simplified tax and customs procedures would attract more foreign investors to Việt Nam, said South Korean Ambassador Kim Do-huyn at a conference in Hà Nội on September 17. Ambassador Kim said Việt Nam needed to create a more transparent and fairer tax environment for businesses. South Korea is the largest direct investment partner in Việt Nam. According to statistics, South Korea has 6,760 projects with total registered capital of US$59 billion. Speaking at the meeting, which was held by Việt Nam’s Ministry of Finance and the South Korean Embassy in Việt Nam, Deputy Minister of Finance Vũ Thị Mai said that administrative procedures, tax policies and customs were always a top concern. “The finance ministry is … [Read more...] about VN and South Korea discuss tax policies
South Korea hungry for Vietnamese garment
Viet Nam expects to continue growth of textile and garment exports to South Korea by the end of the year after strong results in the first seven months of 2018, according to the General Department of Customs.– Photo thoibaonganhang.vn Viet Nam expects to continue growth of textile and garment exports to South Korea by the end of the year after strong results in the first seven months of 2018, according to the General Department of Customs. Up until July, Viet Nam gained a year-on-year increase of 24.88 per cent in textile and garment export value to US$1.5 billion to South Korea, creating a strong breakthrough of those products to this market. In July alone, the export value of those products to this Northern Asian market reached $270.7 million, a rise of 24.18 per cent against June and 24.06 per cent compared with July 2017. China and Viet Nam were the two largest garment suppliers to the South Korean market, accounting for 34.46 per cent and 32.67 per cent, respectively. Viet … [Read more...] about South Korea hungry for Vietnamese garment
South Korea proposes record budget lifeline for jobs, welfare in 2019
South Korea proposes record budget lifeline for jobs, welfare in 2019The Saigon Times Daily Job seekers look at job advertisements at a local job fair in Seoul, South Korea, August 23, 2018 - PHOTO: REUTERS SEOUL (REUTERS) - South Korea proposed on Tuesday the sharpest expansion in fiscal spending in a decade for 2019 as policymakers focus on creating jobs and boosting welfare in the face of a deteriorating job market. Total spending will increase 9.7% to 470.5 trillion won (US$420.27 billion), the biggest jump since a 10.6% increase in 2009, the Ministry of Economy and Finance said in its budget proposal for 2019. Spending on welfare, health and jobs will account for the biggest slice of the pie at 162.2 trillion won, up 12.1% from this year. Some 23.5 trillion won of that will be used solely for job creation, a 22% increase from 2018. “Thanks to higher revenue from robust tax collection, we’re expanding the size of fiscal expenditure to add jobs, and to boost … [Read more...] about South Korea proposes record budget lifeline for jobs, welfare in 2019