South Korean government

S. Korea discontented about Japanese PM statements

Seoul - Arab Today

The South Korean government expressed discontent on Tuesday after recent statements by the Japanese prime minister that his country plans to take measures to face refugees flow in case of any emergency in the peninsula. Japan had asked about the South Korean plan to evacuate foreigners in case of any emergency. Source: MENARead more

S Korea Fines Nissan, BMW, Porsche for Fabricated Certification Documents

Seoul - QNA

The South Korean government on Monday revoked vehicle certifications and slapped fines on the three foreign automakers of Nissan, BMW and Porsche for fabricating reports to win sales approval from the local authorities, Yonhap news agency reported. The country's Ministry of Environment said it imposed a total of $5.93 million in fines on the local units of the threeRead more

S. Korea to Frontload 2017 Budget Spending in Q1

Seoul - QNA

The South Korean government said Wednesday that it will frontload its 2017 budget spending in the first three months of next year in order to pump-prime the economy struggling with faltering exports and lukewarm consumption. "The South Korean economy will experience a further slowdown in 2017 due to rising external uncertainties and contracting domestic demand," said the government afterRead more

Net Asset of South Korea's Overseas Funds Rise

Seoul - QNA

The net asset of South Korea's overseas investment funds last week hit a record high of 88.2 trillion won (US$75.4 billion) in nearly nine years, South Korean government data showed Wednesday. It marked the highest since Dec. 6, 2007, when the corresponding figure came to 87.8 trillion won, according to data compiled by the Korea Financial Investment Association. Read more

S. Korea Approves Controversial Military Intel Sharing Pact with Japan

Seoul - Arab Today

The South Korean government on Tuesday approved a controversial intelligence sharing pact with Japan, citing the need to expand cooperation with the neighboring country in the face of growing nuclear and missile threats from North Korea. The endorsement of the General Security of Military Information Agreement (GSOMIA) comes less than a month after they resumed discussions on Oct. 27Read more

Korea wants to contribute to Kingdom’s vision 2030

Jeddah - Arab Today

The South Korean government has announced its willingness to cooperate with the Kingdom under a new strategic partnership in a wide range of areas that will help create mutual development and friendship between two nations. Korea is eager to contribute to the Kingdom’s vision 2030, according to Oh Nak Young, the consul general of South Korea, who spoke on theRead more