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Antony Blinken, the U.S. secretary of state, welcomed Yoon’s order to rescind emergency martial law. Pentagon spokesperson Maj. Gen. Pat Ryder said the martial law order had “essentially no impact” on U.S. forces. The Ministry of National Defense also deployed between 200 and 300 armed troops to the National Assembly grounds via helicopter, Kim Min-gi, secretary-general of the National Assembly, said Wednesday. Throngs of protesters also arrived at the building in opposition to the martial law declaration. The martial law order was lifted around 4:30 a.m. Wednesday local time (2:30 p.m. Tuesday ET).

Persons: Yoon Suk, Yoon, Kim Yong, Lee Sang, Cho Seung, rae, Park Ahn, Yoon Hee, Cho, Han Dong, “, ”, Luis Robayo, Han Duck, Antony Blinken, ” Blinken, ” Yoon, Pat Ryder, Kim Min, Throngs, Woo Won, sik, ” Woo, Kim, ” Stella Kim, Jennifer Jett Organizations: South Korea —, Democratic Party, Defense, ’, National Police, Yoon’s People Power Party, Group, Getty, South, Wednesday, CNBC, Democratic, North, National Assembly, Martial Law Command, Pentagon, Ministry of National Defense, Power Party, Assembly, Korea’s, Chiefs, Staff, of National Defense Locations: SEOUL, South Korea, Rio de Janeiro, Brazil, AFP, U.S, Seoul, North Korea, Hong Kong

A Chinese man living in the United States illegally was arrested Tuesday and accused of exporting guns and ammunition to North Korea and of planning to send other technology to the nuclear-armed pariah state. At least two shipments of firearms and ammunition were sent, hidden in shipping containers, from the port in Long Beach, California, and on to Hong Kong and then North Korea, according to court documents. In 2022, Wen said he was contacted by two North Korean officials in China who wanted him to send guns and ammunition to North Korea, the affidavit alleges. The North Korean officials had more than guns and ammunition on their mind, according to the affidavit. The North Korean officials also asked for military uniforms, which Wen said he believed would be use to help launch a surprise attack against South Korea, the document says.

Persons: Shenghua Wen, ” Akil Davis, Wen, Wen “, Wen's, Star Safire Organizations: DOJ, Attorney’s, North, North Korean, Star, Emergency Economic Locations: United States, North Korea, Ontario, Southern California, Los Angeles, Long Beach , California, Hong Kong, Angeles, U.S, China, Texas, California, Korean, South Korea

☆ Analysis: China, Russia and North Korea watch on as crisis unfolds in key US ally South Korea
▼ + stars: | 2024-12-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

That’s an unnerving reality for the United States military, which has nearly 30,000 troops and its largest overseas base in South Korea, serving as a check against a belligerent North Korea and counterweight to an aggressive China in a strategically critical region. ‘Major ramifications’The US-South Korea alliance has long been seen by both countries as a cornerstone of peace in the region, where North Korea continues to threaten South Korea and the US with its illegal weapons program. “Any instability in South Korea has major ramifications for our Indo-Pacific policies,” retired US Col. Cedric Leighton told CNN’s Wolf Blitzer, pointing to how US troops in the country are geared for a “fight tonight” scenario against North Korea. “We should not be surprised if Pyongyang exploits the domestic crisis in South Korea to its advantage, either rhetorically or otherwise,” he said. And Yoon, who’s taken a harder line on North Korea than many of his predecessors, has been a willingly staunch partner of the US.

Persons: Yoon Suk Yeol, Yoon, ”, That’s, Cedric Leighton, CNN’s Wolf, Joe Biden, Democracy ”, Yoon Suk, Evelyn Hockstein, Donald Trump, “, Rachel Minyoung Lee, Kim Jong, Edward Howell, hyeon Kim, Xi Jinping, who’s, Howell Organizations: CNN, United States, Leaders, Ukraine, North, South, Democracy, Korean, White, Reuters, Camp David, US National Security, Stimson, University of Oxford, National Assembly Locations: South Korea, Washington, Seoul, North Korea, China, Asia, Russia, Ukraine, Pyongyang, Beijing, Moscow, Korea, Camp, Japan, United States, United Kingdom

☆ As global defense spending surges, South Korean arms makers look like a clear winner
▼ + stars: | 2024-12-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +5 min

Now, a new facet from South Korea is poised to make a splash in investors' portfolios — defense stocks. Sang Hun Seok, who is an Indo-Pacific visiting fellow at the Royal United Services Institute, a U.K.-based policy think tank, explained to CNBC that a steady increase in global expenditure, combined with growing geopolitical uncertainties has provided South Korean arms makers with larger global markets. Chosun Ilbo said that just four countries were importing South Korean arms in 2022, but this number rose to 12 in 2023. The appetite for South Korean arms can be explained by the mantra of "cheaper, better, faster." RUSI's Seok said simply: "South Korean exports are highly cost-efficient."

Persons: Wojtek Radwanski, Hun Seok, RUSI's Seok, Bruce Bennett, Hoshik Nam, KAI, Defense Mariusz Blaszczak, JSU's Nam Organizations: Afp, Getty, Hanwha Aerospace, Korea Aerospace Industries, Hyundai Rotem, LIG, Statistics, Stockholm International Peace Research Institute, Royal United Services Institute, CNBC, Italian Institute for International Political Studies, Chosun Ilbo, CNBC South, U.S ., Center for Strategic, International Studies, RAND Corporation, Jacksonville State University, FA, Defense, U.S Locations: Korean, Torun, Korea, South Korea, Stockholm, Indo, Pacific, U.K, South Korean, Russia, Ukraine, Moscow, U.S, North Korea, Poland, Soviet, South

☆ South Korea markets open nearly 2% lower after President Yoon imposes and then revokes martial law
▼ + stars: | 2024-12-04 | by ( Dylan Butts | ) www.cnbc.com time to read: 1 min

People gather outside the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. South Korean markets opened down on Wednesday, after a day of political upheaval in South Korea that saw President Yoon Suk Yeol impose and then lift a martial law decree within hours. Amid fears of financial instability, a Bank of Korea official reportedly said the bank's monetary policy board will convene an extraordinary board meeting at around 9 a.m KST. According to Reuters, the South Korea government has announced that it will inject unlimited liquidity into financial markets for long as necessary in an attempt to calm sentiment. The Korea Exchange has announced that the country's stock markets will open normally at 9 a.m.

Persons: Yoon Suk Yeol, Yoon Suk, Kospi Organizations: National Assembly, South, Bank, Korea, Reuters, Korea Exchange Locations: Seoul, South Korea

☆ Bank of Korea to hold emergency meeting after Yoon lifts martial law
▼ + stars: | 2024-12-04 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Signage for Bank of Korea is displayed atop the central bank's headquarters building in Seoul, South Korea, on Thursday, Aug. 16, 2018. The Bank of Korea is set to hold an emergency meeting Wednesday after South Korean President Yoon Suk Yeol lifted a surprise martial law declaration overnight. Late Tuesday night, Yoon declared an emergency martial law and mobilized the army. Within hours, the National Assembly voted to overturn the emergency order, forcing Yoon to lift martial law early Wednesday morning. The iShares MSCI South Korea ETF (EWY), which tracks more than 90 large and mid-sized companies in South Korea, tumbled as much as 7% to hit a 52-week low before cutting losses to close 1.6% lower.

Persons: Yoon Suk, BOK, Yoon, Choi Sang, mok Organizations: Bank of, The Bank of, South, National Assembly, Citi, South Korea's Finance, Korea ETF Locations: Bank of Korea, Seoul, South Korea, South Korea's, The Bank of Korea, U.S, Korea, KST

☆ South Korea's political turmoil adds to 'troublesome' long-term trajectory, says Eurasia analyst
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korea's political turmoil adds to 'troublesome' long-term trajectory, says Eurasia analystJeremy Chan, senior analyst for China and Northeast Asia at Eurasia Group, says that South Korean President Yoon's term is in peril, and the long-term trajectory of South Korea looks troublesome.

Persons: Jeremy Chan, Yoon's Organizations: Eurasia Group, South Locations: Eurasia, China, Northeast Asia, Korea

☆ South Korea's martial law crisis is making the 'Korea discount' in stocks harder to shake off
▼ + stars: | 2024-12-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

AdvertisementSouth Korea's political turmoil is likely to make the 'Korea discount' in stocks harder to shake off. South Korean President Yoon Suk Yeol's short-lived martial law announcement is undoing one of his top goals: boosting the value of stocks. Shares of Samsung Electronics, South Korea's largest company, tumbled as much as 3% before paring losses. AdvertisementThe latest political turmoil in South Korea isn't going to help — particularly since South Korean stocks have already been plagued by the so-called "Korea discount" for decades. The 'Korea discount'The "Korea discount" refers to the phenomenon whereby South Korean shares generally trade at lower valuations than their overseas peers.

Persons: Yoon, Yoon Suk, Yoon —, —, Vishnu Varathan, retards, Hyosung Kwon, Rory Green, GlobalData.TS Lombard, Green, Jun Rong, Kim Jin, wook, China's CSI300 Organizations: South, US, Samsung Electronics, Korea's, Mizuho Securities, Bloomberg Economics, Citi, Reuters, Nikkei Locations: Korea, North Korea, Seoul, South Korea, Asia, Japan, South, GlobalData.TS

☆ 'This is the end of President Yoon's presidency': Analyst
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'This is the end of President Yoon's presidency': AnalystKarl Friedhoff from Chicago Council on Global Affairs talks about the future of South Korea's political leadership after the short-lived martial law in the country.

Persons: Yoon's, Karl Friedhoff Organizations: Chicago Council, Global Affairs

☆ Dollar holds ground as Fed path pondered; won stable after martial law lifted
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: +3 min

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. Dealers said the country's central bank may have supported the won at Wednesday's open by selling dollars. Australia's dollar weakened after data showed the economy expanded by less than economists estimated. The dollar added 0.18% to 149.90 yen , continuing its recovery after dipping to 148.65 yen in the previous session for the first time since Oct. 11. The offshore yuan edged down to 7.2948 per dollar, inching back towards the previous day's low of 7.3145, the weakest since November of last year.

Persons: Yoon Suk Yeol, Donald Trump, CME's, Marc Chandler, Barnier, Sterling Organizations: U.S, South Korea's, Dealers, Federal, Traders Locations: Seoul, South Korea, Beijing, France, Bannockburn, New York

Victory, but no mandateMr. Yoon, a conservative leader, has never been popular in South Korea. The vote, analysts said, was more a referendum on his liberal predecessor’s failures than an endorsement of Mr. Yoon. “Peace is meaningless unless it is backed by power,” Mr. Yoon said during the campaign. An election fueled by vitriolMr. Yoon’s party had seen the 2024 elections as an opportunity to win back the chamber. “I call on the National Assembly,” he said, “to immediately stop the outrageous behavior that is paralyzing the functioning of the country with impeachments, legislative manipulation and budget manipulation.”Image Police officers by the National Assembly.

Persons: Yoon Suk Yeol, Yoon’s, —, Yoon, Lee Jae, myung, “, ”, Chang W, Lee, hye, Moon Jae, Kim Jong, Mr, Biden, Michael Park, Doctors, Marie Antoinette, Cho Kuk Organizations: South Korea’s, South, New York Times, Samsung, North, The New York Times, Democratic Party, National Assembly, North Korea ramped, North Korean, ., New York, Mr, Police, National Assembly . Credit Locations: Seoul, South Korea, Korea, U.S, Asia, Washington, China, South Korean, North Korea, churchgoers, Japan

☆ Who Would Replace South Korea’s President Yoon?
▼ + stars: | 2024-12-04 | by ( Qasim Nauman | ) www.nytimes.com time to read: 1 min

South Korea’s opposition, which controls the National Assembly, has threatened to impeach President Yoon Suk Yeol if he does not resign after his ill-fated decision to impose martial law. If Mr. Yoon quits or is removed from office then, under the constitution, Prime Minister Han Duck-soo will step in to perform presidential duties. Mr. Yoon, a conservative, came into office after winning the 2022 presidential election by a threadbare margin, and appointed Mr. Han as the prime minister that year. Mr. Han began his career as a civil servant in the early 1970s, working on trade and industrial policy for decades. From 2009 to 2012, Mr. Han was South Korea’s ambassador to the United States.

Persons: Yoon Suk, Yoon, Han Duck, Han, Han’s, Roh Moo Organizations: National Assembly, Harvard Locations: South, United States

☆ There is a legal pathway to pursue Korean President Yoon's impeachment
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is a legal pathway for Korea's National Assembly to pursue President Yoon's impeachment: CEIPDarcie Draudt of the Carnegie Endowment for International Peace says that the political pressure on South Korea's President Yoon Suk Yeol is going to be "unsurvivable", and she expects there to be an interim government ahead of a potential snap election in the spring.

Persons: Yoon's, CEIP, Yoon Suk Organizations: National Assembly, Carnegie Endowment, International

☆ Kospi heavyweight stocks fall in volatile trade amid political chaos
▼ + stars: | 2024-12-04 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A man holds the South Korea flag outside the National Assembly in Seoul on December 4, 2024, after President Yoon Suk Yeol declared emergency martial law. South Korean heavyweight stocks fell in a volatile trading session Wednesday amid political upheaval that saw President Yoon Suk Yeol reverse a surprise martial law decree that he imposed hours earlier. The South Korean won depreciated further by 0.05% to trade at 1,415.78 against the greenback. South Korean stocks experienced significant fluctuations in the U.S. overnight. The iShares MSCI South Korea ETF, which tracks more than 90 large and mid-sized companies in South Korea, tumbled as much as 7% to hit a 52-week low before trimming losses to close 1.6% down.

Persons: Yoon Suk Yeol, Yoon Suk, Kim Byung, Yoon, Chong Koon Organizations: South, National Assembly, South Korean, Samsung Electronics, LG Energy, Hyundai Motor, SK Hynix, Naver Corp, Samsung SDI, Korea Gas Corporation, greenback, Standard Chartered Bank, CNBC, Bank of, Korea ETF Locations: South Korea, Seoul, Korean, Korea, Japan, Bank of Korea, U.S

☆ The 10 best cities in Asia for expats
▼ + stars: | 2024-12-04 | by ( Erin Liam | ) www.businessinsider.com time to read: +7 min

AdvertisementMercer's Quality of Living City Ranking 2024 looks at factors such as political stability and healthcare. Mercer, a human resource consulting service, recently released its yearly Quality of Living City Ranking, which ranks 241 cities across five continents. Although many European cities were featured high on the list, with Zurich maintaining its top spot, 12 Asian cities made the top 100 this year. Tokyo, Japan (56th)Shibuya crossing in Tokyo, Japan. Caroline Pang/Getty ImagesSingapore, a small island nation in Southeast Asia, was ranked the highest among Asian cities on the list.

Persons: Mercer, Abu Dhabi, Didier Marti, Expats, Abu, Alex Teachey, I'd, Constantine Johnny, Kiran Ali, George Hammerstein, Kaitlyn Cheung, Taro Hama, Marco Bottigelli, It's Japan's, Grace Cheng, Alicia Erickson, David McElhinney, —, Caroline Pang, Nick Burns Organizations: Living, United, United Arab Emirates, Abu Dhabi, Dubai, Getty Images Taipei, New Yorker, Dubai Statistics Center, Expats, Getty, Yokohama Station, Recruit Co, Getty Images Locations: Singapore, Asia, Zurich, Abu Dhabi, United Arab, UAE, Munich, Taipei, Taiwan, New, New York City, Dubai, Burj, Seoul, South Korea, Busan, Hong Kong, California, Nagoya, Japan, Kyoto, Tokyo, Taro, kamakura, Japan's Aichi Prefecture, Osaka, Kobe, Yokohama, Greater Tokyo, Atlanta, Getty Images Singapore, Southeast Asia, San Francisco

☆ I was at the protests in Seoul last night against martial law. Here's what I saw.
▼ + stars: | 2024-12-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Park joined the protests in Seoul after South Korea's president abruptly declared martial law. He arrived at the National Assembly building at around 11:45 pm and stayed until the next morning. Park participated in the protests against martial law outside South Korea's National Assembly building on Tuesday night. You could also get arrested since protests are illegal under martial law. Both of my parents lived through martial law when they were young.

Persons: Andrew Minjun Park, Yoon Suk Yeol, Yoon, Andrew Minjun, Cheers Organizations: Seoul National University . Park, National Assembly, South, South Korea's National, YouTube, South Korean Presidential, Getty Locations: Seoul, South, South Korea's, South Korea, North Korea

☆ South Korean president Yoon likely to be gone within weeks, says analyst
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korean president Yoon likely to be gone within weeks, says analystJeremy Chan, a senior analyst at Eurasia Group, discusses the declaration of martial law in South Korea and the upcoming consequences for the president.

Persons: Yoon, Jeremy Chan Organizations: South, Eurasia Group Locations: South Korea

☆ Analysis: The troubled history of martial law, coups and toppled presidents many hoped South Korea had left behind
▼ + stars: | 2024-12-04 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

Yoon was forced to back down and lifted the martial law order just hours later, after lawmakers unanimously voted to block the decree amid a fierce national outcry. That was the last time martial law was declared in South Korea. Seoul citizens walk beside an army tank on Saturday, Oct. 27, 1979, after martial law was declared following the death of President Park Chung-Hee. Outsted South Korean leader Park Geun-hye arrives at a court in Seoul, South Korea, August 25, 2017. Yoon also faces rising discord within his party, which has opposed his move to introduce martial law and called it unconstitutional.

Persons: Park Chung, Yoon Suk Yeol, Yoon, “, ”, Yoon’s, Chun, Hee, Kim Chon, Roh Moo, Lee Myung, Chung, Park, hye, Kim Hong, Leif, Eric Easley, Yonhap Organizations: CNN, Yonhap News Agency, Min Consulting, National Assembly, Ewha University, Democracy Party, People Power Party Locations: South Korea, South, Seoul, Japan, Gwangju, Korean

☆ CNBC Daily Open: U.S. stocks start December chilly; Korea stocks tumble on political chaos
▼ + stars: | 2024-12-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

In this article .AXJO.SPX.DJI.IXICAAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Fearless Girl statue outside the New York Stock Exchange on December 18, 2020 in New York City. Noam Galai | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDecember may have triggered the thawing of Mariah Carey, but stocks are beginning the month chilly. Moreover, in presidential election years, December typically moves up one notch to become the second-best month for stocks.

Persons: Noam Galai, Mariah Carey, Bob Pisani, George Smith, Ken Mahoney, Sarah Min, Hakyung Kim, Sean Conlon, Lisa Kailai Han, Alex Harring Organizations: New York Stock Exchange, Getty, CNBC, Dow Jones, Nasdaq, Apple, LPL, Asset Management, U.S . Federal Locations: New York City, U.S .

☆ South Korean lawmakers call to impeach President Yoon after back-track on martial law
▼ + stars: | 2024-12-04 | by ( ) www.cnbc.com time to read: +2 min

People take part in a rally to demand South Korean President Yoon Suk Yeol's removal from power, in Seoul, South Korea, December 4, 2024. South Korean lawmakers on Wednesday called for the impeachment of President Yoon Suk Yeol after he declared martial law only to reverse the move hours later, triggering the biggest political crisis in decades in Asia's fourth-largest economy. Yoon told the nation in a TV address that martial law was needed to defend the country from nuclear-armed North Korea and pro-North anti-state forces, and protect its free constitutional order, although he cited no specific threats. The military said activities by parliament and political parties would be banned, and that media and publishers would be under the control of the martial law command. But within hours of the declaration, South Korea's parliament, with 190 of its 300 members present, unanimously passed a motion requiring martial law be lifted, including all 18 members present from Yoon's party.

Persons: Yoon Suk, Yoon, soonest, Hwang Organizations: South, National Assembly Locations: Seoul, South Korea, Asia's, North Korea, Korea's

☆ South Korean president declares emergency martial law, accusing opposition of anti-state activities
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: 1 min

South Korean President Yoon Suk Yeol declared an “emergency martial law,” Tuesday accusing the country’s opposition of controlling the parliament, sympathizing with North Korea and paralyzing the government with anti-state activities. Yoon made the announcement during a televised briefing. He declared the step as critical for defending the country’s constitutional order. It wasn’t immediately clear how the steps would affect the country’s governance and democracy. Yoon since taking office in 2022 had struggled to push his agendas against an opposition-controlled parliament.

Persons: Yoon Suk Yeol, Yoon Organizations: South Locations: sympathizing, North Korea

☆ U.S. announces new export controls on China’s chip industry
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +6 min

The United States on Monday launched its third crackdown in three years on China’s semiconductor industry, curbing exports to 140 companies, including chip equipment maker Naura Technology Group, among other moves. Chinese companies facing new restrictions include nearly two dozen semiconductor companies, two investment companies and over 100 chipmaking tool makers. The companies include Swaysure Technology Co., Si’En Qingdao and Shenzhen Pensun Technology Co., which work with China’s Huawei Technologies. The telecommunications equipment leader has been hobbled by U.S. sanctions and is now at the center of China’s advanced chip production and development. However, it remains years behind chip industry leaders like Nvidia in AI chips and chip equipment maker ASML in the Netherlands.

Persons: Beijing’s, Biden, Donald Trump, Gina Raimondo, ”, Lam, Lin Jian, JAC, China’s, ASML Organizations: Monday, Naura Technology, ACM Research, SiCarrier Technology, ” Reuters, Lam Research, ASM International ., Swaysure Technology, Si’En, Shenzhen Pensun Technology, China’s Huawei Technologies, Semiconductor Manufacturing, Co, Capital, Wingtech Technology, JAC Capital, ”, U.S Locations: States, China, U.S, Singapore, Malaysia, Si’En Qingdao, Shenzhen, Netherlands, United States, Israel, South Korea, Taiwan, Japan

☆ Why did South Korea's president declare martial law?
▼ + stars: | 2024-12-03 | by ( Ellie Zolfagharifard | Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

South Korea's president, Yoon Suk Yeol, on Tuesday invoked martial law, a stunning move that threw the nation into turmoil. The last time that a South Korean leader declared martial law was in 1979 following the assassination of the president. South Korea's parliament voted unanimously to block the president's decree, declaring the shocking move invalid, but martial law remains in effect. The semi-official South Korean news agency also said that media and publishers fall under the control of the South Korean military. Hours after Yoon declared martial law, live TV showed South Korea's parliament passing a motion requiring the law to be lifted.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Kim Jong, Yoon didn't, South Korea Philip Goldberg, Yoon's, Biden, Han Dong, Lee Jae, Yonhap Organizations: South, People Power Party, Democratic Party of Korea, National Assembly, Associated Press, South Korean, State Department, Power Party, Korean, US National Security, KB Financial Group, POSCO Holdings, Wall Street Locations: Korean, South Korea, Korea's, North Korea, Korea, South

☆ South Korea's inflation climbs in November, but misses expectations
▼ + stars: | 2024-12-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

South Korea's inflation rate climbed in November to 1.5% year on year, from a 45-month low in October, as the country grapples with a weakening Korean won and slowing exports. Last Thursday, South Korea's central bank unexpectedly cut rates by 25 basis points to 3%, marking the first time that the Bank of Korea had enacted two back-to-back cuts since 2009. South Korea narrowly avoided a technical recession in the third quarter, with GDP growing 0.1% quarter on quarter, according to the bank's advance estimates, following a contraction of 0.2% in the second quarter. South Korea's currency has weakened against the greenback over October and November, hitting a two-year high of 1,411.31 as tariff fears from the incoming Trump administration take hold. Data from the World Integrated Trade Solution platform — set up by the World Bank — lists the U.S. as South Korea's second largest trade partner.

Persons: BOK Organizations: Reuters, Bank of, Trump, World, World Bank Locations: Seoul, Korean, Bank of Korea, Korea

☆ FBI arrests man allegedly helping prepare ‘surprise attack’ on South Korea
▼ + stars: | 2024-12-03 | by ( Josh Campbell | ) edition.cnn.com time to read: +3 min

CNN —A California man confessed to helping the North Korean regime prepare for an attack in a “sophisticated scheme” to illegally obtain restricted weapons and military grade technology, federal prosecutors announced Tuesday. Wen, who allegedly overstayed his visa and remained in the US illegally, was arrested Tuesday by the FBI. Thousands of US military personnel are stationed in South Korea to help bolster security and stability in the region. Justice Department officials said the arrest was unrelated to Tuesday’s internal political turmoil amid a declaration of martial law and clashes outside South Korean parliament. Akil Davis, head of the FBI’s Los Angeles division, said: “Not only did the investigative team prevent additional restricted items going to the North Korean regime, but they gathered valuable intelligence for the United States and our allies.”

Persons: Shenghua Wen, Wen, “, ”, Martin Estrada, Estrada, Shawn Gibson, Akil Davis Organizations: CNN, North, Justice Department, FBI, Korean, North Korean, . Justice, South, Prosecutors, Department of Justice, Emergency Economic, Homeland Security Investigations, Los Locations: California, Ontario , California, South Korea, Texas, Los Angeles, North Korea, United States

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