South Korea's government has raised its terror alert level for five diplomatic missions warning that North Korea could attack South Korean diplomats in the OC's missions include Seoul's embassies in Cambodia, Laos and Vietnam.

Unusual terror alert for South Korea's embassies

South Korea's parliament recently has passed a bill for a new, independent investigation into the 2022 Halloween crush in the capital, Seoul, that killed more than 150 people. Watch to know more.

S Korea: Parliament approves bill for investigation in 2022 Halloween tragedy

After Japan, Canada and New Zealand, South Korea has expressed interest in joining the AUKUS pact between the U.S., UK and Australia. Is an expansion of the trilateral strategic pact on the cards?

Gravitas | The Great Indo-pacific Battle: South Korea Wants to Join AUKUS Military Alliance Against China

South Korea’s defence minister on Wednesday said his country was actively discussing participation in a landmark defence technology pact between Australia, the UK and the US under the so-called AUKUS mechanism.

"During today’s meeting we also discussed the possibility of partnering with AUKUS pillar two," Shin Won-sik said, referring to a pact focused on developing hypersonic weapons, drones and other advanced technologies.

Shin was speaking after a meeting of Australian and South Korean defence and foreign ministers in Melbourne.

AUKUS was established in 2021 with two main goals in mind: ‘Pillar one’ aims to provide Australia with a fleet of nuclear-powered attack submarines. South Korea is not expected to be part of that project.&nbsp;

<a href="https://www.wionews.com/world/south-korean-govt-denies-blame-for-jamboree-disaster-last-year-715368">Also read |&nbsp;South Korean govt denies responsibility for Jamboree disaster last year</a>

‘Pillar two’ focuses on developing advanced warfighting capabilities such as artificial intelligence, undersea drones and hypersonic missiles.&nbsp;

Australia, the UK and the US have said they are open to other partners taking part, with Japan, South Korea and New Zealand all said to be in consideration.

Shin welcomed his country being considered as a means to "enhance regional peace".

"Korea is obviously a country with deeply impressive technology," said Australian defence minister Richard Marles. "So as Aukus pillar two develops, I think there will be opportunities in the future."

Bordered by North Korea, Seoul has one of the largest and most technologically advanced militaries in the region.

"We do welcome that Aukus members are considering Korea as an Aukus pillar two partner," Shin said.

"Korea’s defence, science and technology capabilities will contribute to peace and stability, (and to) the development of Aukus pillar two."

<a href="https://www.wionews.com/world/explained-south-koreas-hospitals-on-red-alert-as-thousands-of-doctors-stage-walkout-over-proposed-reforms-692913">Also read |&nbsp;Explained: Proposed reforms that have led South Korea’s doctors to walk out</a> 
 
Aukus has been strongly opposed by China, which sees the pact as provoking division in Asia and risking nuclear proliferation.

In recent years, Beijing has tried to chip away at US influence across the Pacific.

Washington has responded by trying to bind allies tighter together through&nbsp;a latticework of bilateral and multilaterial pacts.

Also watch |&nbsp;After Japan, South Korea confirms AUKUS talks

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/after-japan-south-korea-confirms-aukus-talks-717031/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

 
(With inputs from agencies)

&nbsp;

South Korea’s defence minister on Wednesday said his country was actively discussing participation in a landmark defence technology pact between Australia, the UK and the US under the so-called AUKUS mechanism.

South Korea’s defence minister on Wednesday said his country was actively discussing participation in a landmark defence technology pact between Australia, the UK and the US under the so-called AUKUS mechanism. "During today’s meeting we also discussed the possibility of partnering with AUKUS pillar two," Shin Won-sik said, referring to a pact focused on developing hypersonic weapons, drones and other advanced technologies. Shin was speaking after a meeting of Australian and South Korean defence and foreign ministers in Melbourne. AUKUS was established in 2021 with two main goals in mind: ‘Pillar one’ aims to provide Australia with a fleet of nuclear-powered attack submarines. South Korea is not expected to be part of that project. Also read | South Korean govt denies responsibility for Jamboree disaster last year ‘Pillar two’ focuses on developing advanced warfighting capabilities such as artificial intelligence, undersea drones and hypersonic missiles. Australia, the UK and the US have said they are open to other partners taking part, with Japan, South Korea and New Zealand all said to be in consideration. Shin welcomed his country being considered as a means to "enhance regional peace". "Korea is obviously a country with deeply impressive technology," said Australian defence minister Richard Marles. "So as Aukus pillar two develops, I think there will be opportunities in the future." Bordered by North Korea, Seoul has one of the largest and most technologically advanced militaries in the region. "We do welcome that Aukus members are considering Korea as an Aukus pillar two partner," Shin said. "Korea’s defence, science and technology capabilities will contribute to peace and stability, (and to) the development of Aukus pillar two." Also read | Explained: Proposed reforms that have led South Korea’s doctors to walk out Aukus has been strongly opposed by China, which sees the pact as provoking division in Asia and risking nuclear proliferation. In recent years, Beijing has tried to chip away at US influence across the Pacific. Washington has responded by trying to bind allies tighter together through a latticework of bilateral and multilaterial pacts. Also watch | After Japan, South Korea confirms AUKUS talks (With inputs from agencies)

South Korea discussing participation in AUKUS tech pact: Defence minister

South Korea is actively discussing participation in a landmark defence technology pact between Australia, the United Kingdom and the United States. This comes weeks after the alliance said that it would hold formal talks on Japan's entry at a meeting of Australian and South Korean defence and foreign ministers in Melbourne.

After Japan, South Korea confirms AUKUS talks

Watch the top headlines of the hour: - Netanyahu vows to raid Rafah - Police clear Columbia's Hamilton Hall - Blinken in Israel to push for truce - US moves to reclassify Marijuana - South korea discusses joining AUKUS - Multiple Delhi-NCR schools recieve bomb threats

US moves to reclassify marijuana | Police clear Columbia's Hamilton Hall

Investigators blamed the South Korean government for the nightmarish and disastrous hosting of World Scout Jamboree last year. The government denied being responsible.&nbsp;

From across the world, tens of thousands of scouts aged between 14-18 years were gathered in Saemangeum, near the town of Buan on South Korea's west coast.&nbsp;

However, they evacuated the site due to warnings about the dangers posed by the extreme heat, and other issues with food and medical facilities. The heat was so bad that some children fainted in the 40C heat. They didn't have enough food to eat.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/global-wine-production-dropped-10-in-2023-climate-change-blamed-for-downfall-715325">Global wine production dropped 10% in 2023, climate change blamed for decline</a>&nbsp;

As per a probe, the government apparently ignored the scout group and took the lead role in organising the event.&nbsp;

However, the government said in a statement that it had only played a supporting role to the Korean Scout Association. In fact, the Ministry of Gender Equality and Family said that it was a supporter of the event, not an organiser.&nbsp;

"It is not true at all that the direct cause of the event's failure is the government's involvement," it said.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/japanese-town-plans-to-block-mount-fuji-view-due-to-tourist-misbehaviour-715304">Japanese town plans to block Mount Fuji view due to tourist misbehaviour</a>&nbsp;

According to the ministry, the event was hosted by the Korea Scout Association and the World Organization of the Scout Movement.&nbsp;

The ministry further said that the government only provided financial and event-related support requested by the related organisations.&nbsp;

The investigators also accused the South Korean government of misleading international and national scout organisations intentionally.&nbsp;

Watch: Massive blaze burns at iconic oceanside pier, fire at an abandoned restaurant

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The report said, "In terms of safety, security, safeguarding of young people, medical support, food and dietary requirements, sanitation and hygiene... there were significant challenges and deficiencies, as well as a failure to consistently deliver core services - at the standard promised."&nbsp;

As per the probe, the Korean government apparently obstructed the review into the jamboree. They didn't provide information to the investigators.&nbsp;

"Regrettably, government officials were unable to provide much-needed information, especially on the financial statements relating to the event,"&nbsp;it said.&nbsp;

(With inputs from agencies)&nbsp;

Investigators blamed the South Korean government for the nightmarish and disastrous hosting of World Scout Jamboree last year. The government denied being responsible.

Investigators blamed the South Korean government for the nightmarish and disastrous hosting of World Scout Jamboree last year. The government denied being responsible. From across the world, tens of thousands of scouts aged between 14-18 years were gathered in Saemangeum, near the town of Buan on South Korea's west coast. However, they evacuated the site due to warnings about the dangers posed by the extreme heat, and other issues with food and medical facilities. The heat was so bad that some children fainted in the 40C heat. They didn't have enough food to eat. Also read: Global wine production dropped 10% in 2023, climate change blamed for decline As per a probe, the government apparently ignored the scout group and took the lead role in organising the event. However, the government said in a statement that it had only played a supporting role to the Korean Scout Association. In fact, the Ministry of Gender Equality and Family said that it was a supporter of the event, not an organiser. "It is not true at all that the direct cause of the event's failure is the government's involvement," it said. Also read: Japanese town plans to block Mount Fuji view due to tourist misbehaviour According to the ministry, the event was hosted by the Korea Scout Association and the World Organization of the Scout Movement. The ministry further said that the government only provided financial and event-related support requested by the related organisations. The investigators also accused the South Korean government of misleading international and national scout organisations intentionally. Watch: Massive blaze burns at iconic oceanside pier, fire at an abandoned restaurant × The report said, "In terms of safety, security, safeguarding of young people, medical support, food and dietary requirements, sanitation and hygiene... there were significant challenges and deficiencies, as well as a failure to consistently deliver core services - at the standard promised." As per the probe, the Korean government apparently obstructed the review into the jamboree. They didn't provide information to the investigators. "Regrettably, government officials were unable to provide much-needed information, especially on the financial statements relating to the event," it said. (With inputs from agencies)

South Korean govt denies responsibility for Jamboree disaster last year

South Korea's 'first-ever' sex festival was cancelled hours before it was about to get started, as performers backed out fearing that they would be stabbed. The event, which was called '2024 KFX The Fashion', was organised by 'Play Joker', as per the announcements.

South Korea's 'first-ever' sex festival was cancelled hours before it was about to get started, as performers backed out fearing that they would be stabbed. The event, which was called '2024 KFX The Fashion', was organised by 'Play Joker', as per the announcements. The event was organised aboard a ship at Jamwon Hangang Park in Seoul on April 21 and 22. The organisers, however, faced pressure from councils and women's groups because of which they had to change the location of the event three times. The event, which featured Japanese porn stars, cost the head of Play Joker Lee Hee Tae thousands of dollars. Also Read: South Korea successfully launches second military spy satellite amid race with North Korea Finally, the organisers decided to host the event in secret at a bar in the Gangnam neighbourhood in Seoul, in their last effort to make the festival happen. Gangnam council adopts extreme measures to stop sex festival The council, however, did not budge and took extreme measures to stop the event from happening. As reported by the BBC, Gangnam council wrote letters to hundreds of restaurants in their neighbourhood and warned them that they would be shut down if they were caught hosting the event, which the council called "morally harmful". The bar decided not to back out from hosting the event, however, the programme stumbled upon a rock when the Japanese stars of the show pulled out while citing fears of violence, as well as stabbing. The performers' agency stated that backlash "reached fever pitch". Speaking to the BBC, Lee said that he failed to believe "such an unthinkable turn" had happened and added that death threats were sent to him. "I have been treated like a criminal without doing anything illegal", he added. He further claimed that the event was not violating any law since there were to be no sexual acts or nudity. Watch: South Korean environmentalists celebrate Earth Day in Seoul According to the BBC, the festival was to comprise a bondage fashion show, some adult games and a sex toy exhibition. "Virtually every developed country has a sex festival, but here in South Korea we don't even have an adult entertainment culture. I want to take the first steps towards creating one," Lee Hee Tae said. He added, "The authorities are hypocrites. If you go online everyone is sharing pornography, then people log off and pretend they are innocent. How much longer are we going to keep up this pretence?" (With inputs from agencies)

South Korea's 'first' sex festival gets cancelled. Here's what changed its fate

China's burgeoning artificial intelligence (AI) sector is leading to the creation of numerous data centers with high water usage. Watch to know more.

China's AI data centers to exceed South Korea's water needs by 2023: Study

Environmentalists participate in a fashion show featuring plastic wastes to mark the Earth Day in Seoul, South Korea, Monday, April 22, 2024. Watch to know more.

Earth Day 2024: South Korean environmentalists organise fashion show featuring plastic wastes

Against the backdrop of North Korea is increasing its war Readiness and boosting its military Arsenal South Korea and US held air drills in a display of strength and unity. Watch in for more details!

US, South Korea practice ways to detect, counter enemy threat

South Korea, US conduct joint air drills

The K-pop industry is currently mourning the tragic death of singer Park Bo Ram. She is the latest in the list of South Korean celebrities who've had their lives cut short too soon.

K-Pop stars who died too young

The latest defeat in parliamentary elections was a wake-up call for the ruling party in South Korea and it is taking cues prime minister is partially conceding to the demands of the doctors finally.

Doctor's Strike to end in South Korea?

South Korea and Japan are locked in a fresh territorial dispute over a group of small Islets. A fresh territorial row erupted after Japan renewed its claim to the disputed islets controlled by Seoul. Watch in for more details!

Japan claims sovereignty over disputed Island

Japan annual diplomatic report renews claims to Islets Island

South Korea, Japan and the United States conducted joint Naval exercises to enhance readiness against North Korea's nuclear and missile threats. Watch in for more details!

US, South Korea and Japan conduct naval drills amid North Korea threats

The Bank of Korea (BOK) is anticipated to maintain its policy rate at 3.5 per cent in its forthcoming meeting on Friday. <o:p></o:p>

According to Bloomberg, this decision comes as South Korea experiences a political shift and as two of the bank's board members prepare to step down. <o:p></o:p>

All 23 economists surveyed by Bloomberg are in consensus that the central bank will keep its benchmark rate unchanged, indicating a cautious approach towards policy adjustments. <o:p></o:p>

The BOK last raised its rates in January 2023 and has since maintained a "restrictive" rate level to combat inflation.<o:p></o:p>

Inflation emerged as a major issue during Wednesday's parliamentary election. <o:p></o:p>

Despite the government's efforts to mitigate inflation through various initiatives, including encouraging retailers to reduce grocery prices and temporarily freezing public utility charges, President Yoon Suk Yeol's party suffered a major defeat. <o:p></o:p>

Last month, consumer prices surged by 3.1 per cent, surpassing expectations and remaining above the BOK's target of 2 per cent. <o:p></o:p>

Additionally, the looming concern of escalating household debt adds to the BOK's hesitancy in announcing an early policy shift.<o:p></o:p>

Bloomberg cited Kim Sung-soo, an analyst at Investment &amp; Securities, who advised caution, saying, “Inflation is showing the last mile is not easy.” <o:p></o:p>

This sentiment is reverberated by the rise in South Korea’s three-year bond yield, which has increased by approximately 24 basis points this year to 3.39 per cent, nearing the BOK's current rate. <o:p></o:p>

Market indicators, such as the swaps market, currently project zero rate cuts over the next six months.<o:p></o:p>

A strong rebound in exports and industrial production supports the case for the BOK to retain its high-interest rates. <o:p></o:p>

South Korea's semiconductor output, a crucial component of its industrial strength, witnessed its most significant surge in 14 years in February. <o:p></o:p>

Moreover, semiconductor exports reached their highest monthly total since 2022 last month. <o:p></o:p>

Meanwhile, the South Korean won has depreciated by around 5.6 per cent this year against the dollar, aligning with global trends as the Federal Reserve's data has diminished expectations for imminent rate cuts.<o:p></o:p>

Stable exchange rates are important for South Korea, given its heavy reliance on imports for food and energy. <o:p></o:p>

The BOK is trying to prevent a rapid currency devaluation, which could trigger capital outflows and unsettle financial markets. <o:p></o:p>

Following Friday's decision, the BOK will bid farewell to two early advocates for higher rates, Cho Yoon-Je and Suh Young Kyung, who were involved in the decision to raise rates from a record low of 0.5 per cent in 2021.<o:p></o:p>

Despite the impending departure of these board members, the BOK's stance is unlikely to shift towards a more dovish approach immediately. <o:p></o:p>

Governor Rhee Chang-yong previously indicated no expectations for a rate cut in the first half of the year. <o:p></o:p>

With five more decisions to make in 2024 following the April meeting, the central bank's approach remains cautious but has shown signs of moderation. <o:p></o:p>

Recent discussions within the board have hinted at rate cuts in the short term if necessary, suggesting a slightly softer stance compared to previous months.<o:p></o:p>

Looking ahead, analysts from Citi Research anticipate the BOK may adjust its policy statement to signal a more flexible approach to monetary policy later this year. <o:p></o:p>

They suggest that the BOK "may open the scope for a gradual normalization of monetary policy in the rest of this year due to dovish risk factors." <o:p></o:p>

These potential risks include deteriorating credit conditions for construction firms, a deceleration in private spending, and escalating geopolitical tensions impacting global trade. <o:p></o:p>

Goldman Sachs economists anticipate a shift towards a more accommodative policy in the coming months, forecasting an easing cycle starting in July and a subsequent rate cut in the last quarter of 2024.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

The Bank of Korea (BOK) is anticipated to maintain its policy rate at 3.5 per cent in its forthcoming meeting on Friday. According to Bloomberg, this decision comes as South Korea experiences a political shift and as two of the bank's board members prepare to step down.

The Bank of Korea (BOK) is anticipated to maintain its policy rate at 3.5 per cent in its forthcoming meeting on Friday. According to Bloomberg, this decision comes as South Korea experiences a political shift and as two of the bank's board members prepare to step down. All 23 economists surveyed by Bloomberg are in consensus that the central bank will keep its benchmark rate unchanged, indicating a cautious approach towards policy adjustments. The BOK last raised its rates in January 2023 and has since maintained a "restrictive" rate level to combat inflation. Inflation emerged as a major issue during Wednesday's parliamentary election. Despite the government's efforts to mitigate inflation through various initiatives, including encouraging retailers to reduce grocery prices and temporarily freezing public utility charges, President Yoon Suk Yeol's party suffered a major defeat. Last month, consumer prices surged by 3.1 per cent, surpassing expectations and remaining above the BOK's target of 2 per cent. Additionally, the looming concern of escalating household debt adds to the BOK's hesitancy in announcing an early policy shift. Bloomberg cited Kim Sung-soo, an analyst at Investment & Securities, who advised caution, saying, “Inflation is showing the last mile is not easy.” This sentiment is reverberated by the rise in South Korea’s three-year bond yield, which has increased by approximately 24 basis points this year to 3.39 per cent, nearing the BOK's current rate. Market indicators, such as the swaps market, currently project zero rate cuts over the next six months. A strong rebound in exports and industrial production supports the case for the BOK to retain its high-interest rates. South Korea's semiconductor output, a crucial component of its industrial strength, witnessed its most significant surge in 14 years in February. Moreover, semiconductor exports reached their highest monthly total since 2022 last month. Meanwhile, the South Korean won has depreciated by around 5.6 per cent this year against the dollar, aligning with global trends as the Federal Reserve's data has diminished expectations for imminent rate cuts. Stable exchange rates are important for South Korea, given its heavy reliance on imports for food and energy. The BOK is trying to prevent a rapid currency devaluation, which could trigger capital outflows and unsettle financial markets. Following Friday's decision, the BOK will bid farewell to two early advocates for higher rates, Cho Yoon-Je and Suh Young Kyung, who were involved in the decision to raise rates from a record low of 0.5 per cent in 2021. Despite the impending departure of these board members, the BOK's stance is unlikely to shift towards a more dovish approach immediately. Governor Rhee Chang-yong previously indicated no expectations for a rate cut in the first half of the year. With five more decisions to make in 2024 following the April meeting, the central bank's approach remains cautious but has shown signs of moderation. Recent discussions within the board have hinted at rate cuts in the short term if necessary, suggesting a slightly softer stance compared to previous months. Looking ahead, analysts from Citi Research anticipate the BOK may adjust its policy statement to signal a more flexible approach to monetary policy later this year. They suggest that the BOK "may open the scope for a gradual normalization of monetary policy in the rest of this year due to dovish risk factors." These potential risks include deteriorating credit conditions for construction firms, a deceleration in private spending, and escalating geopolitical tensions impacting global trade. Goldman Sachs economists anticipate a shift towards a more accommodative policy in the coming months, forecasting an easing cycle starting in July and a subsequent rate cut in the last quarter of 2024. (With inputs from Bloomberg)

Bank of Korea expected to maintain interest rates amid political shifts, inflation concerns

Voting has concluded in South Korea's parliamentary elections and a major blow to president Yoon Suk Yeol South Korea's liberal opposition block is expected to strengthen its majority in the country's 300-member Parliament.

South Korean elections 2024: Yoon's party to suffer stinging defeat

South Korea's opposition has emerged victorious in an action-packed election and the ruling party's leadership including the Prime Minister have tendered the resignations in the face of defeat but what does this mean for president Yoon Suk Yeol is the question? Watch in for more details!

South Korea Elections: Opposition registers sweeping win in parliamentary polls

South Korean opposition bloc set to win elections

South Korean elections 2024: Opposition bloc set to win elections

North Korea's Supreme Leader Kim Jong Un said on Wednesday (Apr 10) that unstable geopolitical situations surrounding the country meant now was the time to be more prepared for war than ever.

North Korea's Supreme Leader Kim Jong Un said on Wednesday (Apr 10) that unstable geopolitical situations surrounding the country meant now was the time to be more prepared for war than ever. Kim made this remark as he inspected the Kim Jong Il University of Military and Politics. According to a report by the news agency KCNA, the university is the "highest seat of military education" in the country. Kim told the university staff that if the enemy opted for a military confrontation with North Korea, the country would deal a death blow to the enemy without hesitation by mobilising all means in its possession. Also watch | South Korea successfully launches second military spy satellite amid race with North Korea "Outlining the complicated international situation ... and the uncertain and unstable military and political situation around the DPRK, he said that now is the time to be more thoroughly prepared for a war than ever before," state media quoted Kim on Thursday. North Korea test-fires new hypersonic missile Kim's remarks came as North Korea successfully fired a new hypersonic missile on Tuesday- the latest step in a plan aimed at using solid fuel to power missiles of all ranges. Overseeing the launch of the Hwasong-16B missile, the supreme leader called it a strategic weapon showcasing the "absolute superiority" of Pyongyang's defence technology, KCNA reported. That would give North Korea the capacity for "rapidly, accurately and powerfully striking any target in the enemy side worldwide," he added. Also watch | North Korea fires intermediate-range ballistic missile, Japan PM condemns launch × The missile launch drew swift condemnation from South Korea, Japan and the United States. South Korea's Joint Chiefs of Staff (JCS) said that the launch probably focused on testing the missile's flight performance in the early stages of development. But the missile exaggerated several specifications, from flight range to a delay in igniting the second-stage engine and quickly changing flight orbit. (With inputs from agencies)

Now is the time to be more prepared for war than ever: North Korea's Kim Jong Un

Polls opened Wednesday in South Korea's parliamentary elections that could determine whether President Yoon Suk Yeol will fall into a lame duck situation or be able to move his agenda forward with legislative support during the remaining three years in office. Watch in for more details!

South Korea Elections 2024: Litmus test for Yoon Suk Yeol

South Korea Elections 2024: South Koreans vote for new parliament

Watch in top headlines of the hour: - Israel threatens to strike Iran - South Korea opposition set for big win - Xi meets Taiwan's Ex-President - Musk to meet Modi in India - Muslims worldwide celebrated Eid

Israel threatens to strike Iran | South Korea opposition set for big win

South Korea Elections 2024: Referendum on Yoon Suk Yeol's presidency

South Korea Elections 2024: Voting begins for new parliament

South Korea Elections 2024: Voters cast their ballot for 300 parliamentary seats

South Korea Elections 2024: Challenges for Yoon Suk Yeol

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