See More on Facebook

Current affairs, Economics

‘No rush’ on NK denuclearization, Trump says

Trump and Kim are due to meet in Vietnam at the end of this month.


Written by

Updated: February 21, 2019

US President Donald Trump said on Tuesday that he had no strict timeline for North Korea’s ultimate denuclearization as negotiators from the two countries head to Vietnam for last-minute talks ahead of a second summit next week.

“I’m in no rush. There’s no testing. As long as there is no testing, I’m in no rush,” Trump told reporters at the White House after a phone conversation with South Korean President Moon Jae-in.

“I’d just like to see, ultimately, denuclearization of North Korea,” he said.

The US president made similar remarks last week, in an apparent move to reduce the pressure of public expectations for his meeting with North Korean leader Kim Jong-un in Hanoi on Feb. 27-28.

“I have no pressing time schedule,” he said at that time. “I think a lot of people would like to see it go very quickly from the other side,” he said.

In June the two leaders held a historic meeting, but the resulting agreement was criticized as lacking in specifics about the path toward denuclearization.

While calling North Korea’s decision to halt nuclear and missile testing a sign of good faith, sanctions against Pyongyang will remain in place, he said.

“I really believe that North Korea can be a tremendous economic power when this is solved,” he said.

In response to North Korea’s intercontinental ballistic missile and nuclear tests in 2017, additional sanctions were imposed on the already cash-strapped country.

Meanwhile, working-level negotiators from the US and North Korea headed to Hanoi to nail down details of what will be discussed at the high-profile summit.

Kim Hyok-chol, special representative for US affairs at the North’s State Affairs Commission, is expected to meet his counterpart, US Special Representative for North Korea Stephen Biegun, on Thursday to continue their preparations. The two envoys met in North Korea from Feb. 6-8.

Biegun said after his North Korea visit that his talks were “productive” but there was still “hard work to do” before the summit.

Experts expect that North Korea will offer to verifiably dismantle the Yongbyon Nuclear Scientific Research Center, its core nuclear facility, in exchange for reciprocal measures from Washington, such as a declaration formally ending the Korean War and the establishment of a liaison office in Pyongyang, among others.

 



Enjoyed this story? Share it.


The Korea Herald
About the Author: The Korea Herald is the nation’s largest English-language daily and the country’s sole member of the Asia News Network.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Current affairs, Economics

US urged to comply with WTO ruling

The US, under Trump, has shunned several international organizations. The United States has challenged the authority of the World Trade Organization by ignoring a WTO ruling, and such a move may escalate trade tension with China, experts said on Wednesday. The WTO announced on Tuesday that the revised countervailing measures imposed by the US on imports of certain products from China were inconsistent with WTO laws. However, the US failed to comply with the WTO ruling and accused China of “using State-owned enterprises to subsidize its economy”. The WTO mechanism is what members use to settle trade disputes, and countries in most cases abide by the rulings made by the organization, said Xue Rongjiu, deputy director of the China Society for WTO Studies. “If member economies don’t follow this procedure, the rule-based global multilateral system will be damaged and thr


By China Daily
July 19, 2019

Current affairs, Economics

S. Korea may review military info-sharing pact with Japan

It is unclear how the ongoing trade dispute with Japan has affected the decision. A senior Blue House official said Thursday South Korea will review whether to renew a pact with Japan on sharing military information, if needed, according to a politician here. “For now, (the government) has a position to maintain it. It can be reconsidered in accordance with (relevant) situations,” Chung Eui-yong, director of Cheong Wa Dae’s national security office, was quoted by Rep. Sim Sang-jung, head of the progressive Justice Party, as saying during a closed-door meeting with politicians. Chung, during the meeting at Cheong Wa Dae, briefed the politicians on the government’s response to Japan’s tougher export restrictions against South Korea.Sim told reporters that she raised the issue of the bilateral General Security of Military Information Agreement (GSOMIA) in the meeting.


By The Korea Herald
July 19, 2019

Current affairs, Economics

S. Korea cuts growth outlook to 2.2%, key rate to 1.5% amid uncertainties

Japan’s export curbs had impact on drastic lowering of outlook: BOK chief. The Bank of Korea has slashed its forecast for this year’s economic growth to 2.2 percent, reflecting the negative impact of external uncertainties including Japan’s ongoing export curbs. It also carried out an earlier-than-expected base interest rate cut to 1.5 percent, embracing the monetary easing signals in the United States and other developed economies. “Considering the changes in economic conditions since the last outlook (announcement) in April, we have set the economic growth rate for this year at 2.2 percent and the consumer price inflation at 0.7 percent,


By The Korea Herald
July 19, 2019

Current affairs, Economics

Dozens die in suspected arson at animation studio in Kyoto

The perpetrator has been arrested. More than two dozen people died when a fire, possibly caused by arson, broke out at a studio managed by animation production company Kyoto Animation Co. in Fushimi Ward, Kyoto, on Thursday morning. The Kyoto city fire department initially confirmed that one person had died, but dozens were later found in cardiac arrest inside the three-story building. The Kyoto Prefectural Police later confirmed that 25 people had died. According to the fire department, a nearby resident made an emergency call at about 10:35 a.m., saying they had heard the sound of an explosion. Officials of the prefectural police rushed to the studio and found a man, 41, on a road near the studio. The man told them, “I sprinkled liquid on the first floor and set it on fire.”


By The Japan News
July 19, 2019

Current affairs, Economics

US tourism feels trade war pinch

Chinese travel fell 5.7 percent in 2018, its first drop in 15 years.  Travelers from China are seeking alternative destinations amid the trade war with the United States, as travel industry insiders keep a close eye on the decline in the number of those visitors. China is the third-largest source of overseas travel to the US, producing 3.2 million visitors in 2017 and accounting for 8.2 percent of all overseas travel to the country, according to the US Travel Association. Travel is the top US industry export to China, generating a $29.8 billion trade surplus with the country in 2017 and accounting for 19 percent of all exports. In addition, Chinese tourists spend an average of $6,700 per trip, about 50 percent more than the average for international visitors. Chinese travel to the US fell by 5.7 percent last year to 2.9 million visitors, the first fall in 15 years, according to


By China Daily
July 18, 2019

Current affairs, Economics

Death toll in Mumbai building collapse likely to rise

A massive rescue operation is underway in India. The death toll in the building collapse in India’s financial capital Mumbai rose to 14 on Wednesday as rescue operations continued for the second day after the 100-year-old structure crumbled to the ground under incessant rains on Tuesday.   The death toll is likely to go up further as the rescue operations progress, an official from the Mumbai disaster management cell said. Dozens are still feared trapped in the rubble. At least 40 to 50 people were feared trapped under the debris of the four-storey building in the Dongri locality of Mumbai, local residents said. The National Disaster Response Force (NDRF) is also carrying out rescue and search operations with the help of sniffer dogs. Nine people, including two children, have been rescued so far. Three NDRF teams were joined by the fire


By Ishan Joshi
July 18, 2019