South Korea’s plans to boost military spending over the next five years has already proven a boon to its defense industry. Share prices of local weapons manufacturers, including Hanwha, Korea Aerospace and others, have seen their share prices jump up to 30 percent since Seoul released its defense white paper this summer. The current tension on the Korean Peninsula is seen as motivating such spending.
South Korea said Wednesday it will file a complaint with the World Trade Organization (WTO) over Japan's "politically-motivated" export restrictions, upping the ante in an intensifying dispute with the neighbor.
The South Korean won is expected to further advance against the US dollar for some time on what analysts called long-awaited but unanticipated positive developments that helped remove some uncertainties facing Asia's fourth-largest economy.
South Korea is expected to put into effect its decision to drop Japan from a list of trusted trading partners later this month, Seoul's Trade Ministry said Sunday, amid a growing trade row between the two Asian neighbors.
South Korean forces began two days of expanded drills on Sunday around an island also claimed by Japan, prompting a protest from Tokyo only days after Seoul said it would scrap an intelligence-sharing pact with its neighbor amid worsening relations.
Japan and South Korea on Wednesday agreed on the need for dialogue to resolve a feud over compensating Korean wartime workers that has spilled into trade, and put a deep chill on ties between Washington’s two biggest Asian allies.
Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources said, ahead of talks by government officials this week to resolve a dispute stemming from their wartime past.
North Korea fired what appeared to be two short-range missiles into the sea on Friday and launched a scathing attack on calls for dialogue from South Korean President Moon Jae-in, rejecting further peace talks with Seoul.