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  Trade chief seeks stronger ties with Mercosur countries amid global uncertainty SEOUL, March 5 (AJP) - Trade Minister Yeo Han-koo on Thursday met with ambassadors from four Mercosur countries to discuss ways to enhance cooperation. Formed in 1991, Mercosur is a South American trade bloc comprising Argentina, Brazil, Paraguay and Uruguay. Thursday's talks follow President Lee Jae Myung's summit with Brazilian President Luiz Inácio Lula da Silva in Seoul late last month, as South Korea looks to expand economic and trade ties with the bloc. March 5, 2026
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  Seoul hires legal advisers as U.S. Coupang investors move toward arbitration SEOUL, March 05 (AJP) -South Korea has recruited legal advisers to respond to a notice of intent to arbitrate filed by U.S. investors in e-commerce giant Coupang, the Ministry of Justice said Thursday, marking the first formal step in a potential investor–state dispute under the Korea–U.S. Free Trade Agreement. The ministry said it selected South Korean law firm Peter & Kim and U.S.-based Arnold & Porter Kaye Scholer LLP to represent the government during the March 5, 2026
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  Seoul may send charter or military planes to bring home Koreans from Middle East SEOUL, March 05 (AJP) -Seoul is mulling to send chartered planes and military transport aircraft to bring home South Korean nationals stranded across the Middle East as commercial flights remain disrupted by the escalating conflict between the United States and Iran, government officials said Wednesday. Second Vice Foreign Minister Kim Jina said the government is reviewing multiple options, including dispatching aircraft and additional rapid-response teams, to assist citizens att March 5, 2026
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  Rival parties agree to pass bill this week to clear way for US investment under trade deal SEOUL, March 4 (AJP) - A bill outlining South Korea's massive investment pledges to the U.S., a follow-up measure to a tariff-related deal between the two countries is expected to pass at the National Assembly later this week. Lawmakers from the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) met on Wednesday to discuss the bill and agreed to put it to a vote at a parliamentary session on Thursday. "If all goes as planned, we expect the bill March 4, 2026
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  South Korean President Lee arrives in Manila for summit with President Marcos SEOUL, March 03 (AJP) - South Korean President Lee Jae Myung arrived in Manila on Tuesday afternoon for a state visit to the Philippines. The trip coincides with the 77th anniversary of the establishment of diplomatic relations between the two countries. President Lee is scheduled to hold a summit with President Ferdinand Romualdez Marcos Jr., followed by a joint press announcement and a state dinner. This is the second meeting between the two leaders since they met approximately March 3, 2026
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  Middle East Crisis: Seoul enters emergency mode, readies contingency plan SEOUL, March 03 (AJP) -South Korea postured itself to an emergency mode Tuesday, launching round-the-clock surveillance and readying financial support for exporters as it braces for protracted conflicts in the Middle East and disruption in the fuel flow that could unsettle the economy heavily dependent on external demand and energy imports. Authorities moved swiftly as geopolitical tensions following U.S.-Israeli strikes on Iran rippled across global energy and financial markets, ra March 3, 2026
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  South Korea to offer support program for exporters hit by Middle East conflict SEOUL, March 3 (AJP) - The government will come up with support for small and mid‑sized exporters hit by the Middle East conflict following the U.S.‑led military action against Tehran dubbed "Operation Epic Fury" last week. According to the Financial Services Commission (FSC), a financial support program worth approximately 13.3 trillion won (around US$9.2 billion) will be provided to exporters affected by the conflict. The decision was made at a meeting chaired by FSC March 3, 2026
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  Seoul claims fuel stock enough to last more than 6 months SEOUL, March 03 (AJP) -South Korea moved to calm markets, saying it holds enough crude oil and petroleum products to last at least 208 days, as spiraling fighting in the Middle East escalated into a direct threat to global energy flows and tanker traffic through the Strait of Hormuz, a chokepoint responsible for around 70 percent of fuel imports for Asia's fourth-largest economy. With Iran declaring restrictions in the strategic waterway following U.S.-Israeli strikes and retali March 3, 2026
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  New nominees tapped to lead Budget and Oceans ministries SEOUL, March 2 - Nominees to fill two vacant ministerial posts were tapped as part of a minor cabinet reshuffle, Cheong Wa Dae said on Monday. In a press briefing in Seoul, Lee Kyu-yeon, the presidential senior secretary for public relations and communications, said that President Lee Jae Myung, currently on a trip to Singapore and the Philippines, has named veteran lawmaker Park Hong-keun and senior official Hwang Jong-woo to head the Ministry of Planning and Budget and the Min March 2, 2026
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  South Korea's Lee orders emergency readiness during Singapore, Philippines trip SEOUL, March 01 (AJP)-South Korean President Lee Jae Myung departed Sunday for a four-day state visit to Singapore and the Philippines, aiming to strengthen cooperation with the Association of Southeast Asian Nations (ASEAN) in advanced industries and strategic sectors. Lee left Seoul Air Base following his attendance at the 107th Independence Movement Day ceremony earlier in the day. He was accompanied by First Lady Kim Hye-kyung aboard the presidential aircraft. Chief of Staf March 1, 2026