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☆ South Korea’s ex-defense minister formally arrested over martial law imposition
▼ + stars: | 2024-12-10 | by ( Story Associated Press | ) edition.cnn.com time to read: +5 min

Martial law, the first in more than 40 years, lasted only about six hours but has triggered a domestic firestorm and large street protests. The Justice Ministry has banned Yoon and eight others from leaving the country as authorities see them as key suspects in the martial law case. Kwak said the purpose of Kim’s instructions was to prevent the 300-member parliament from gathering the 150 votes necessary to overturn Yoon’s martial law order. Opposition parties and many experts say the martial law decree was unconstitutional. It pushed to impeach Kim Yong Hyun and the safety minister, but they resigned before parliament took a vote.

Persons: Yoon Suk Yeol, Yoon, Kim Yong Hyun, Kim, Yoon’s, Kwak Jong, Kwak, ” Kwak, Kim Dae, Yeo, hyung, Hong Jang Organizations: Seoul AP, Seoul Central, Court, Defense, Prosecutors, National Assembly, Democratic Party, Army Special Warfare Command, Defense Ministry, South Korea wasn’t Locations: Seoul, South Korea, Korea

For many years, South Korean activists and North Korean defectors have sent balloons to the North, loaded with propaganda material criticizing dictator Kim Jong Un and USB sticks filled with K-pop songs and South Korean television shows – all strictly prohibited in the impoverished, highly isolated nation. Choi, co-founder of the Committee for Reforming and Opening North Korea, is among the North Korean defectors who have vowed to continue sending balloons to their homeland. The leaflets include declarations of freedom for the North Korean people, and propaganda messages against dictator Kim Jong Un. Charles Miller/CNNFitted with GPS trackers, the activists can monitor these next generation “smart” balloons in real time on journeys that often span hundreds of kilometers. Relations between the two countries thawed somewhat in 2017 and 2018, allowing some South Korean elements, including parts of its pop culture, to seep into the hermit nation.

Persons: Choi, Kim Jong, Kim Yo Jong, North, Yoonjung Seo, Kim Jong Un, Charles Miller, ” Choi, “ It’s, ‘, ’ ”, Kim ramped, Vladimir Putin, ” Organizations: South Korea CNN, CNN, South, North, South Korean, North Korean, GPS, Workers ’ Party, Nations, Chiefs of Staff Locations: Seoul, South Korea, North Korea, South Korea’s, South Korean, Korean, Pyongyang, Korea, China, “ North Korea, North Korean, Japan, United States

☆ Dollar creeps higher ahead of US, China economic data
▼ + stars: | 2023-08-08 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The trade figures come a day ahead of the country's inflation reading, with markets on the lookout for further signs of deflation in the world's second-largest economy. Ahead of the data release, the offshore yuan was little changed at 7.2039 per dollar. The Aussie slipped 0.05% to $0.6571, while the kiwi fell 0.08% to $0.6102. "This week's economic data ... will continue to paint a picture of a weak Chinese economic recovery," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "With the (Federal Reserve's) interest rate policymaking remaining data dependent, every data point has been eliciting an even higher level of vigilance," said Gary Dugan, chief investment officer at Dalma Capital.

Persons: Jo Yong, Carol Kong, Sterling, Gary Dugan, Rae Wee, Sam Holmes Organizations: Korea Exchange Bank, REUTERS, New, Commonwealth Bank of Australia, Aussie, U.S, ANZ, Dalma, Thomson Locations: Seoul, SINGAPORE, U.S, Asia, New Zealand

SEOUL, March 8 (Reuters) - South Korea's government approved export licenses for Poland last year to provide Ukraine with Krab howitzers, which are built with South Korean components, a defence acquisition official in Seoul told Reuters on Wednesday. The comments are the first confirmation that South Korea officially acquiesced to at least indirectly providing weapons components to Ukraine for its war against Russia. Seoul officials have previously declined to comment on the Krabs, fuelling speculation over whether South Korea had formally agreed or was simply looking the other way. South Korean President Yoon Suk Yeol said at the time that South Korea, a U.S. ally, had not provided any weapons. Kim said Poland would need further South Korean permission to provide any of those new weapons to Ukraine.

☆ Tesla safety at centre of South Korean trial over fiery, fatal crash
▼ + stars: | 2022-11-20 | by ( Ju-Min Park | ) www.reuters.com time to read: +9 min

SEOUL, Nov 21 (Reuters) - In an upscale Seoul neighbourhood two years ago, a white Tesla Model X smashed into a parking lot wall. The criminal trial about to begin in South Korea hangs on questions about the safety of Tesla cars, at a time when the EV maker faces a range of lawsuits and increased scrutiny by regulators. A lawyer for the family of Yoon Hong-geun, who owned the car and died in the crash, declined to comment. Tesla sold 17,828 vehicles in South Korea in 2021, registration data shows. Judge Park Won-gyu said that he plans to call Tesla engineers to testify and that the safety of Tesla vehicles would be examined at trial.

☆ World stocks head back towards 2-year lows as mood sours
▼ + stars: | 2022-10-11 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

There was a modest respite for Britain's battered bond market after the Bank of England said it would start purchasing inflation-linked debt. And MSCI's world stock index was down 0.5% -- moving back towards roughly two-year lows hit last week (.MIWD00000PUS). Emerging market stocks hit their lowest level since April 2020 and are on track for a near-30% tumble year-to-date, its worst year since the 2008 global financial crisis. GILT RESPITEBritish government bond or gilt yields edged lower, having soared on Monday, following the BoE's latest efforts to shore up the battered bond market. The Aussie dollar fell to a 2-1/2-year low of around $0.6248 and the kiwi dollar hit a low of $0.5536.

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