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South Korea
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South Korea hits record-low weddings as birth rate plunges
South Korea has seen a record low in marriages last year, with only 192,000 couples tying the knot, according to data released by Statistics Korea.
This represents a drop of over 40% from a decade ago, with the average age for men and brides hitting record highs of 33.7 and 31.3 years, respectively. The country is struggling with a decline in its birth rate, with only 249,000 babies born last year.
The government has spent around $213bn since 2006 to boost birth rates, but experts cite high costs, property prices, and competitive society as factors contributing to the decline.
Japan, South Korea thaw ties to tackle regional threats
Japan and South Korea have ended their trade dispute and pledged renewed diplomacy at a summit in Tokyo, with both leaders agreeing to regular reciprocal visits.
The neighbours have been locked in a bitter dispute for years over Japan’s use of wartime forced labour, which deteriorated after South Korea’s Supreme Court in 2018 ordered Japanese firms to compensate victims of forced labour. However, relations have thawed with Seoul announcing a plan to pay those affected without Tokyo’s involvement.
The resumption of “shuttle diplomacy” and reciprocal visits aims to build confidence and form a united front against regional challenges, including North Korea.
South Korea to build ‘world’s largest’ chip centre
South Korea plans to invest $230bn of private investment, primarily from Samsung Electronics, to build the world’s largest chip centre, in a drive to advance the country’s position in the global industry.
The cluster plan is due to be completed by 2042 and is part of the government’s investment drive in key technologies, including chips, displays and batteries, where South Korean tech giants are already established.
The investment also comes as securing supplies of advanced chips is an increasingly significant international issue.
South Korean President Yoon hails key ‘step forward’ in Japan ties
South Korean President Yoon Suk Yeol is optimistic about closer cooperation with Japan on issues including North Korea and semiconductors. Yoon’s new plan to compensate Korean victims of Japanese forced labour without Tokyo’s direct involvement has been met with controversy.
Despite this, Yoon is eager to settle the historic dispute and seek closer ties with Japan in the face of growing threats from North Korea. Both countries are ramping up defense spending and joint military exercises to ensure regional and global stability.
North Korea fires two ballistic missiles, Seoul says
North Korea launched two short-range ballistic missiles towards the East Sea, marking its second launch in three days and the first since the US-South Korea military drills began. Seoul and Washington have been increasing their defence cooperation in response to North Korea’s growing military and nuclear threats, including a series of banned weapons tests.
The joint military exercises, known as Freedom Shield, started on Monday and will run for 10 days. North Korea views such drills as rehearsals for invasion and has warned it would take “overwhelming” action in response.
US, S.Korea kick off largest drills in five years
The US and South Korea have launched their largest joint military exercises in five years, called Freedom Shield, focusing on the “changing security environment” due to North Korea’s increased aggression. North Korea views the drills as rehearsals for an invasion and had fired two “strategic cruise missiles” from a submarine in waters off its east coast over the weekend. Experts predict that North Korea will use the exercises as an excuse to further invest in weapons of mass destruction, with more missile launches and acts of intimidation likely.
Seoul says will halt WTO dispute over Japan export curbs
South Korea announced it would halt its WTO complaint over Japanese export curbs after announcing plans to compensate victims of Japan’s forced wartime labor, which led to a strained relationship between the two countries. However, South Korea clarified that it was not withdrawing the WTO complaint, which would depend on the bilateral consultations’ progress.
Seoul announces plan to compensate victims of Japan wartime forced labour
South Korea plans to compensate victims of Japan’s forced wartime labour to boost ties and end a cycle of bitterness between the two nations. Victims criticised the proposal because it falls far short of their demand for a full apology from Tokyo and direct compensation from the Japanese companies involved. The move follows years of disputes over World War II slaves, which soured Japan-South Korean ties. Analysts said the significance of the announcement will be measured in large part by what Japan does next.
