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WASHINGTON, April 27 (Reuters) - South Korean President Yoon Suk Yeol told U.S. lawmakers on Thursday it is necessary to speed up trilateral cooperation with Japan and the United States to counter increasing North Korean nuclear threats, and said the world must not "shy away" from promoting freedom for the North. "Korea will never forget the great American heroes who fought with us to defend freedom," he said. On Wednesday, Yoon met President Joe Biden at the White House and the United States pledged to give South Korea more insight into its nuclear planning over any conflict with North Korea, amid anxiety over Pyongyang's growing arsenal of missiles and bombs. Yoon became the seventh South Korea leader to address Congress, underscoring the close relationship between Seoul and Washington. "We will actively work to safeguard the freedom of the people of Ukraine and support their efforts in reconstruction," he said.

☆ Analysis: Calls for South Korean nuclear arsenal unlikely to fade despite US deal
▼ + stars: | 2023-04-27 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

"Domestic politics could distort the incentives South Korean leaders face when it comes to limiting their nuclear options over the long run." Nuclear expert Siegfried Hecker warned in January there could be disastrous downsides to Seoul acquiring its own nuclear weapons. The United States once stationed hundreds of tactical nuclear weapons in South Korea and has made other agreements to reassure Seoul. Choi Il, a retired South Korean submarine captain, told Reuters that South Korea's fundamental answer to the growing North Korean threat remains unchanged. "If you strike us with nuclear weapons, then we will strike back with our own."

☆ Explainer: South Korea's nuclear dilemma: Would U.S. trade Seattle for Seoul?
▼ + stars: | 2023-04-26 | by ( David Brunnstrom | ) www.reuters.com time to read: +5 min

WHY IS SOUTH KOREA WORRIED? U.S. "extended deterrence" protection for South Korea rests on a simple, if grim, assumption: if North Korea were to attack South Korea with nuclear weapons, it would face devastating U.S. retaliatory strikes. Yoon vowed in his election campaign to seek redeployment of U.S. tactical nuclear weapons in South Korea and possibly "nuclear sharing," meaning joint command over U.S. weapons. But his comments have driven a growing debate that one former senior U.S. defense official said threatens to normalize a once unthinkable concept of a South Korean nuclear arsenal. WHAT WOULD BE THE IMPLICATIONS OF A NUCLEAR SOUTH KOREA?

☆ Morning Bid: Cloud control - tech trumps banks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +5 min

Alphabet (GOOGL.O) also gained 1% as it too trumpeted gains in cloud services and AI, alongside plans for a $70 billion buyback. With Meta (META.O) results out later, its stock was up 2% and Amazon (AMZN.O) raced ahead 4%. PacWest Bancorp's (PACW.O) shares jumped 15% in extended trading after the regional lender said deposits have been building recently. And in Europe, Standard Chartered (STAN.L) shares bucked otherwise dour markets on a forecast-beating 21% jump in first-quarter profits. U.S. Treasury markets continued to rally, with yields on 2-year notes dropping below 4% Tuesday and testing 3.9% early today.

☆ Inside Biden’s Renewed Promise to Protect South Korea From Nuclear Weapons
▼ + stars: | 2023-04-26 | by ( David E. Sanger | Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

WASHINGTON — In the four years since President Donald J. Trump’s leader-to-leader diplomacy with Kim Jong-un of North Korea collapsed after a failed meeting in Hanoi, the North’s arsenal of nuclear weapons has expanded so fast that American and South Korean officials admit they have stopped trying to keep a precise count. North Korea’s missile tests are so frequent that they prompt more shrugs than big headlines in Seoul. So when President Biden welcomes President Yoon Suk Yeol of South Korea to the White House on Wednesday, only the second state visit of Mr. Biden’s presidency, there will be few pretenses that disarming North Korea remains a plausible goal. Instead, American officials say, Mr. Biden’s most vivid commitment to Mr. Yoon will focus on what arms control experts call “extended deterrence,” renewing a vow that America’s nuclear arsenal will be used, if necessary, to dissuade or respond to a North Korean nuclear attack on the South.

☆ Your Wednesday Evening Briefing
▼ + stars: | 2023-04-26 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

The U.S. and South Korea agreed to cooperate on nuclear weapons. American officials said the U.S. would give South Korea a central role in the strategic planning for the use of nuclear weapons in any future conflict with North Korea. In return, South Korea agreed to not pursue its own nuclear arsenal. It is also a striking admission that the idea of disarming North Korea is no longer plausible. In news from the war in Ukraine, China’s leader, Xi Jinping, and Ukraine’s president, Volodymyr Zelensky, spoke by telephone in their first known contact since Russia’s invasion.

☆ Biden Says He Has a ‘Job to Finish,’ Downplaying Concerns Over His Age
▼ + stars: | 2023-04-26 | by ( Katie Rogers | ) www.nytimes.com time to read: +1 min

WASHINGTON — President Biden on Wednesday dismissed polling that suggests Americans are not interested in seeing a rematch between him and former President Donald J. Trump, saying he has a “job to finish” in bolstering the economy and reasserting U.S. leadership abroad. “I may not be the only one, but I know him well and I know the danger he presents to our democracy,” Mr. Biden said of his predecessor. He added that he probably would have decided to run again even if Mr. Trump had not entered the race. Recent polls show that Democrats are deeply ambivalent about Mr. Biden running again. They are broadly pleased with his job performance, but in addition to concerns about the president’s age, they want to see him clear the way for a younger generation of Democratic leaders to step up.

☆ U.S. to send nuclear submarines in new pledge to protect South Korea from North's threats
▼ + stars: | 2023-04-26 | by ( Alexander Smith | ) www.cnbc.com time to read: +5 min

The United States will deploy nuclear-armed submarines to South Korea for the first time in decades — part of a new agreement that will signal Washington's commitment to defend Seoul against rising nuclear threats from North Korea, U.S. officials said. The plan to dock the ballistic missile submarines in South Korea, which hasn't happened since the 1980's, headlines an effort to make U.S. deterrence against Kim Jong Un's regime "more visible," according to senior administration officials. President Joe Biden and his counterpart, South Korean President Yoon Suk Yeol, will unveil the new agreement in Washington on Wednesday, the officials said. In return, an official added, South Korea would reaffirm its commitment to the Nuclear Nonproliferation Treaty, known as the NPT, which bars countries from seeking nuclear weapons. Yoon's visit follows the largest U.S.-South Korea joint military exercises in years, aimed largely at countering the North Korean nuclear threat.

“We need to have tabletop exercises that go through a variety of scenarios, including possibly nuclear weapons,” a senior official told CNN earlier this month. Leaks loomRecent online leaks of Pentagon documents involving South Korea also loom over the visit. One of the leaked documents describes, in remarkable detail, a conversation between two senior South Korean national security officials about concerns by the country’s National Security Council over a US request for ammunition. Plans and pompWednesday’s events mark just the second state visit of the Biden presidency (Biden hosted French President Emmanuel Macron and his wife Brigitte in December 2022). President Joe Biden, first lady Jill Biden, South Korea's President Yoon Suk Yeol and his wife Kim Keon Hee visit the Korean War Veterans Memorial in Washington, Tuesday.

☆ Crab Cakes, Gochujang and Irish Poetry: Biden’s State Dinner With South Korea
▼ + stars: | 2023-04-26 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

WASHINGTON — Visiting foreign leaders often go for flattery when addressing the president at a state dinner. But President Yoon Suk Yeol of South Korea went straight for President Biden’s weak spot on Wednesday night, quoting Irish sayings at the beginning and end of his toast at a lavish state dinner at the White House. Mr. Yoon thanked Mr. Biden and then quoted the Irish poet Seamus Heaney, a presidential favorite who makes rather frequent guest appearances in Biden speeches. “Behavior that’s admired is the path to power among people everywhere,” Mr. Yoon said. Mr. Biden honored Mr. Yoon with only the second state dinner of his presidency, with Jill Biden treating their guests to a classic American menu with a Korean flair.

The top-tier Asian economic data cupboard on Thursday is bare, meaning regional markets will probably feed off U.S. earnings, banking sector woes, debt ceiling developments and geopolitical events for direction. This was followed up on Wednesday by Meta (META.O), whose shares surged 12% after hours after the company’s strong earnings beat. First Republic Bank's (FRC.N) shares plunged to another record low, but PacWest Bancorp (PACW.O) jumped 8% after beating estimates and stemming deposit outflows. The yuan was used in 48.4% of transactions, Reuters calculated, while the dollar's share declined to 46.7%. China added to its Treasuries holdings in February, but not enough to make up for the fairly heavy selling in January.

☆ U.S. and South Korea Agree to Cooperate on Nuclear Weapons
▼ + stars: | 2023-04-26 | by ( David E. Sanger | ) www.nytimes.com time to read: +1 min

WASHINGTON — The United States will give South Korea a central role for the first time in strategic planning for the use of nuclear weapons in any conflict with North Korea, in return for an agreement that Seoul will not pursue its own nuclear weapons arsenal, American officials said. The agreement, which the two sides are calling the Washington Declaration, is a centerpiece of this week’s state visit by President Yoon Suk Yeol of South Korea, who will appear with President Biden at the White House on Wednesday. The new cooperation is closely modeled on how NATO nations plan for possible nuclear conflict, but the American president will retain the sole authority to decide whether to employ a nuclear weapon. While the United States has never formally adopted a “no first use” policy, officials said such a decision would almost certainly come only after the North itself used a nuclear weapon against South Korea. On Wednesday morning, John Kirby, a spokesman for the National Security Council, said, “I would caution anyone from thinking that there was new focus on the centrality of nuclear weapons,” despite the wording of the new declaration.

☆ U.S. and South Korea agreed to boost economic partnerships in chips, EVs, batteries
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, April 26 (Reuters) - South Korea and the U.S. agreed to boost economic partnerships in critical technology industries such as microchips, electric vehicles and batteries, said South Korean President Yoon Suk Yeol. Reporting by Moira Warburton in Washington; Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, April 26 (Reuters) - President Joe Biden and South Korean leader Yoon Suk Yeol are expected to agree on Wednesday to deepen collaboration meant to deter nuclear escalation by North Korea amid heightened anxiety about its growing arsenal of missiles and bombs, U.S. officials said. The Republic of Korea is South Korea's official name. The officials stressed that no U.S. nuclear weapons would be returned to the peninsula, and South Korea would continue not to have control over the U.S. nuclear arsenal. South Korea will also reaffirm its commitment to the nuclear non-proliferation treaty and its non-nuclear status, they said. It is only the second state visit Biden has hosted since he took office two years ago - the first such guest was France's president.

☆ Crabcakes, ribs, banana splits for South Korea state dinner at the White House
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +1 min

The first course of Maryland crab cake, main course of braised beef short ribs, and dessert of banana split are displayed at a media preview of the state dinner during Wednesday's visit by South Korean President Yoon Suk Yeol and his wife Kim Keon Hee at the White House on April 24, 2023 in Washington, DC. Crabcakes, beef short ribs and a deconstructed banana split have made the cut for this week's White House state dinner honoring South Korea's seven decades of relations with the United States. First lady Jill Biden and her team previewed the menu and decor on Monday. Some 200 guests are expected at Wednesday's glamorous black-tie dinner, which will be held in the East Room, the largest room in the executive mansion. Guests will move down the hallway to the State Dining Room to be entertained after dinner by a trio of Broadway stars: Norm Lewis, Lea Salonga and Jessica Vosk.

☆ DeSantis urges more cooperation with South Korea
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

[1/5] Florida's Governor Ron DeSantis shakes hand with South Korea's Gyeonggi Province Governor Kim Dong-yeon during their meeting in Seoul, South Korea, April 26, 2023. DeSantis, in a meeting with Prime Minister Han Duck-soo, vowed support for South Korean companies and exchanges between the state of Florida, of which he is governor, and South Korean counterparts, Han's office said. South Korea was a key partner for Florida's economy and job creation, Han's office cited DeSantis as saying. Han called for the governor's support for South Korean companies in Florida. His visit comes as South Korean President Yoon Suk Yeol is in Washington for a summit with President Joe Biden, accompanied by more than 120 South Korean business leaders.

☆ The Full Guest List for Biden’s State Dinner With South Korea
▼ + stars: | 2023-04-26 | by ( Chris Cameron | ) www.nytimes.com time to read: 1 min

The White House invited more than 180 guests to the state dinner hosted by President Biden for President Yoon Suk Yeol of South Korea on Wednesday night, including government officials, athletes, business leaders and prominent Asian Americans. Here is the full list of those invited as provided by the White House. THE PRESIDENT AND DR. BIDENHIS EXCELLENCY YOON SUK YEOL, PRESIDENT OF THE REPUBLIC OF KOREA AND MRS. KIM KEON HEEMichael ArdenLloyd J. Austin III, secretary of defense, and Charlene AustinJoe Bae and Janice BaeCharlie Baker, former governor of MassachusettsStephen K. Benjamin, senior adviser to the president for public engagement, and DeAndrea BenjaminRepresentative Ami Bera, Democrat of California, and Dr. Janine Bera

☆ Biden addresses concerns about his age after launching his 2024 re-election bid
▼ + stars: | 2023-04-26 | by ( Katherine Doyle | ) www.cnbc.com time to read: +2 min

President Joe Biden expressed confidence in his chances of winning against former President Donald Trump in 2024 and addressed concerns about his age on Wednesday, a day after he made his re-election bid official. Asked by reporters at a press conference with South Korean President Yoon Suk-yeol what he would say to the Americans who indicated their concerns about his age in recent polling, Biden, 80, said his age doesn't register with him. Biden officially launched his 2024 re-election bid with a video message Tuesday, ending months of speculation over his political plans. Nearly half of those who said Biden shouldn't run cited his age as a "major" reason why. If he wins re-election next year and serves out a second term, Biden would turn 82 just weeks after Election Day and leave office at age 86.

The recent leak of classified Defense Department documents, which show that the United States has been gathering intelligence on its ally South Korea, will not affect the relationship between the two countries, South Korean President Yoon Suk Yeol told NBC News in an exclusive interview. The interview came as he and President Joe Biden meet this week to discuss North Korea, China and other pressing challenges. U.S. and South Korean officials have said that much of the information in the documents is inaccurate and may have been altered, without providing further specifics. The South Korean officials also saw the need for the government to formulate a clear position on the matter in case the White House pressed the issue. "President Yoon in particular, unlike previous [South Korean] presidents, really has emphasized freedom and democracy as a core theme of his foreign policy," Cha told a news briefing last week.

☆ Biden Seeks Seoul’s Pledges on Ukraine, Nuclear Deterrence
▼ + stars: | 2023-04-25 | by ( Vivian Salama | ) www.wsj.com time to read: 1 min

Photo: ReutersWASHINGTON—President Biden aims to strengthen a commitment from South Korea to bolster Ukraine’s military during a state visit by President Yoon Suk Yeol this week, while playing down disclosures in leaked U.S. intelligence documents that purportedly revealed a debate within Seoul’s government over the issue. As stockpiles of weapons dwindle across the globe more than a year into the Russian invasion of Ukraine, Seoul’s reluctance to supply arms to Kyiv is among U.S. officials’ top priorities as they prepare for the dayslong visit by Mr. Yoon and his delegation.

[1/4] South Korean President Yoon Suk Yeol delivers remarks to the U.S.-Korea Business Council at the U.S. Chamber of Commerce in Washington, D.C., U.S., April 25, 2023. He said the two countries' economies had been facing new challenges and the economic slowdown was unsettling the investment environment. "Competition for technological hegemony, energy issues and climate crises are casting more uncertainties on business activity day by day," Yoon said. "This cooperation should extend beyond semiconductors to future emerging technologies such as AI, Quantum, SMR (Small Modular Reactors) and more," Yoon said. Core technologies from the United States and South Korea's advanced manufacturing capabilities would "create enormous synergies that will benefit both countries," he said.

☆ General Motors raises 2023 guidance as first-quarter earnings beat expectations
▼ + stars: | 2023-04-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

The new range is between $8.4 billion and $9.9 billion, down from $8.7 billion to $10.1 billion. DETROIT — General Motors on Tuesday raised key guidance for 2023 after reporting first-quarter results that topped Wall Street's top- and bottom-line forecasts. Its net income during the first quarter, however, was down by roughly 18% to $2.3 billion compared to a year earlier. CFO Paul Jacobson said the company felt confident in raising its adjusted earnings guidance after first-quarter results came in above the company's internal expectations, including continued demand for high-end models. GM's first-quarter results included adjusted earnings of $3.8 billion, down 6% from a year earlier.

Hyundai and partner SK On, a battery unit of SK Innovation Co Ltd (096770.KS), will set up a new battery manufacturing plant in the state of Georgia, the companies said, formalising an earlier provisional agreement. Accompanying Yoon on the trip are top executives of some of South Korea's biggest companies, including Hyundai Motor Group Executive Chair Euisun Chung. Rivals General Motors Co (GM.N) and Samsung SDI (006400.KS) said they would invest over $3 billion to build a joint venture EV battery manufacturing plant in the United States. That compared with a Refinitiv SmartEstimate for first-quarter profit of 2.3 trillion won from 16 analysts. Hyundai and Kia cars are competitive in the U.S., based on their prices and a favourable exchange rate, he added.

☆ South Korea's chip dilemma gets sharper
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

China's security review of the $66 billion Micron is largely seen as retaliation against U.S. export controls on chipmaking technology. Yet Yoon has reason to do what America asks at the expense of South Korean companies. Bolstering the security alliance amid rising nuclear risks from North Korea will be on the top of his agenda; negotiating better terms for South Korean electric-car and chip investments into the United States will be another. As the chip war heats up, and threatens to widen, Seoul will find keeping its top two trading partners happy even tougher. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Crab cakes, beef and banana splits: Biden's South Korea state dinner menu unveiled
▼ + stars: | 2023-04-24 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

WASHINGTON, April 24 (Reuters) - Guests at President Joe Biden's and first lady Jill Biden's state dinner with their South Korean counterparts will feast on Maryland crab cakes and braised beef short ribs followed by banana splits for dessert, the White House said on Monday. The meal itself will kick off with crab cakes along with cabbage, kohlrabi, fennel and cucumber slaw. "We hope to showcase the harmony of our cultures and our people intertwined," at the dinner, she said. The first lady worked with Chef Edward Lee, author of "Smoke & Pickles" and "Buttermilk Graffiti," along with the White House chefs to design the menu. "The first person I called was my mother," Lee said, noting she had immigrated to the United States from Korea.

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