Day: June 19, 2024

Russian President Vladimir Putin has arrived in North Korea in his first trip to the reclusive country in 24 years, Russian news outlets reported Wednesday, as he is set to hold a summit with leader Kim Jong-un in another sign of their deepening ties.

Putin began his state visit to Pyongyang, according to Sputnik and TASS, amid growing concerns that burgeoning bilateral defense cooperation would help prop up Russia’s war operations in Ukraine and enhance North Korea’s weapons programs to the detriment of regional and global peace.

Kim greeted the Russian leader at the airport, reports said — a spectacle underscoring their growing bond that has jelled in the midst of crippling international sanctions against their countries and their diplomatic isolation on the global stage.

Putin last visited Pyongyang in July 2000 when he met with then North Korean leader Kim Jong-il, the late father of the current leader. This week’s visit comes nine months after the current North Korean leader had a summit with Putin i
n Russia’s Far East in September.

Yuri Ushakov, Putin’s foreign policy aide, has told TASS that the summit between Kim and Putin may produce a treaty on a “comprehensive strategic partnership,” a document expected to accelerate and broaden the two countries’ cooperation.

Since the summit in September, Pyongyang and Moscow have been strengthening their security partnership in ways reminiscent of their countries’ Cold War-era camaraderie.

Washington has revealed that the North has supplied Russia with dozens of ballistic missiles and more than 11,000 containers of munitions for use in Ukraine.

In return, the North has been seeking assistance from Moscow, including fighter aircraft, surface-to-air missiles, armored vehicles and ballistic missile production equipment, according to U.S. officials.

As Putin arrived in the North, the White House reiterated concerns about military ties between Pyongyang and Moscow.

“Deepening cooperation between Russia and the DPRK is a trend that should be of great concern to
anyone interested in maintaining peace and stability on the Korean Peninsula, upholding the global nonproliferation regime, abiding by the U.N. Security Council resolutions and supporting the people of Ukraine as they defend for their freedom and their independence against Russia’s aggression,” White House spokesperson Karine Jean-Pierre told a press briefing.

DPRK stands for the North’s official name, the Democratic People’s Republic of Korea.

Analysts said Kim and Putin may adopt a joint declaration that calls for both sides to elevate the level of military, security and economic cooperation, but they saw a low possibility of them clinching a treaty akin to a military alliance.

The two sides are also expected to highlight cooperation in the economic sector, as their arms deals and military cooperation constitute a violation of U.N. Security Council resolutions banning Pyongyang’s nuclear and missile programs, according to observers.

In an article contributed Tuesday to the Rodong Sinmun, the North’s mai
n newspaper, Putin said Russia has a plan to build trade and settlement systems with North Korea that will not be controlled by Western countries.

Source: Yonhap News Agency

U.S. Secretary of State Antony Blinken pledged Tuesday to do “everything” to cut off North Korea’s support for Russia amid the war in Ukraine, as Russian President Vladimir Putin is set to hold a summit with North Korean leader Kim Jong-un in Pyongyang this week.

Blinken made the remarks as Putin and Kim are scheduled to hold a summit in the North Korean capital on Wednesday (Korea time) amid growing concerns about security implications of their countries’ deepening military cooperation.

“We’ll continue to do everything we can to cut off the support that countries, like Iran and North Korea, are providing,” the secretary said during a press conference after his meeting with North Atlantic Treaty Organization Secretary General Jens Stoltenberg in Washington.

Washington has revealed that the North provided Russia with more than 11,000 containers of munitions and related material and dozens of ballistic missiles for use in Ukraine.

Blinken reiterated that Russia is trying “in desperation” to develop and stre
ngthen relations with countries that can provide it with what it needs to continue the war in Ukraine, while criticizing China’s support for Russia’s defense industrial base and Iran’s provision of drones to Russia.

“We are very much concerned about this because this is what’s keeping the war going,” the secretary said, accusing China of “fueling the biggest security threat to Europe as a whole since the end of the Cold War.”

“The fastest way to end the war is for Putin to be disabused of the notion that he can outlast Ukraine and outlast all of Ukraine’s supporters, but also if he knows that the fuel he needs for his war machine won’t be there anymore,” he added.

Stoltenberg pointed out that Putin’s trip to the North “confirms the very close alignment between Russia and authoritarian states,” and underscores that security is a “global” issue.

“What happens in Europe matters for Asia. What happens in Asia matters for us. And this is clearly demonstrated in Ukraine, where Iran, North Korea and China are pr
opping up, fueling Russia’s war aggression against Ukraine,” he said.

“So this idea that we can divide security into regional theaters doesn’t work anymore. Everything is intertwined, and therefore we need to address these challenges together.”

As Putin arrived in the North, the White House reiterated concerns about military ties between Pyongyang and Moscow.

“Deepening cooperation between Russia and the DPRK is a trend that should be of great concern to anyone interested in maintaining peace and stability on the Korean Peninsula, upholding the global nonproliferation regime, abiding by the U.N. Security Council resolutions and supporting the people of Ukraine as they defend for their freedom and their independence against Russia’s aggression,” White House spokesperson Karine Jean-Pierre told a press briefing.

DPRK stands for the North’s official name, the Democratic People’s Republic of Korea.

“This is something that we have been warning about for some time as the DPRK’s provision of weapons to Russia h
as helped enable Russia’s brutal war in Ukraine,” she added.

Jean-Pierre also called attention to the summit statement that Putin and Chinese President Xi Jinping issued last month.

“We noted that the Putin-Xi joint statement called for all sides to reaffirm that political and diplomatic means as the only way to resolve issues on the Korean Peninsula. We hope this is a message that Putin will convey to Kim in their discussion,” she said.

“As we have said before, we don’t believe any country should give Mr. Putin a platform to promote the war of aggression that we are currently seeing in Ukraine, and Russia, we believe, is blatantly violating the U.N. Charter and working to undermine the international system.”

The planned summit between Kim and Putin is being carefully watched by Seoul, Washington and others as it could further accelerate their cooperation in defense and other areas.

Yuri Ushakov, Putin’s foreign policy aide, has told Russia’s news agency TASS that the summit may produce a treaty on a “co
mprehensive strategic partnership,” a document likely to cement the bilateral partnership at a time of their isolation on the global stage.

Source: Yonhap News Agency

Russian President Vladimir Putin has arrived in North Korea in his first trip to the reclusive country in 24 years, Russian news outlets reported Wednesday, as he is set to hold a summit with leader Kim Jong-un in another sign of their deepening ties.

Putin began his state visit to Pyongyang early Wednesday morning (Korea time), according to TASS and Sputnik, amid growing concerns that burgeoning bilateral defense cooperation would help prop up Russia’s war operations in Ukraine and enhance North Korea’s weapons programs to the detriment of regional and global peace.

Kim and the Russian leader greeted each other with a hug at the airport, reports said — a spectacle underscoring their growing bond that has jelled in the midst of crippling international sanctions against their countries and their diplomatic isolation on the global stage.

Putin last visited Pyongyang in July 2000 when he met with then North Korean leader Kim Jong-il, the late father of the current leader. This week’s visit comes nine months
after the current North Korean leader had a summit with Putin in Russia’s Far East in September.

Yuri Ushakov, Putin’s foreign policy aide, has told TASS that the summit between Kim and Putin may produce a treaty on a “comprehensive strategic partnership,” a document expected to accelerate and broaden the two countries’ cooperation.

Since the summit in September, Pyongyang and Moscow have been strengthening their security partnership in ways reminiscent of their countries’ Cold War-era camaraderie.

Washington has revealed that the North has supplied Russia with dozens of ballistic missiles and more than 11,000 containers of munitions for use in Ukraine.

In return, the North has been seeking assistance from Moscow, including fighter aircraft, surface-to-air missiles, armored vehicles and ballistic missile production equipment, according to U.S. officials.

As Putin arrived in the North, the White House reiterated concerns about military ties between Pyongyang and Moscow.

“Deepening cooperation between Rus
sia and the DPRK is a trend that should be of great concern to anyone interested in maintaining peace and stability on the Korean Peninsula, upholding the global nonproliferation regime, abiding by the U.N. Security Council resolutions and supporting the people of Ukraine as they defend for their freedom and their independence against Russia’s aggression,” White House spokesperson Karine Jean-Pierre told a press briefing.

DPRK stands for the North’s official name, the Democratic People’s Republic of Korea.

Analysts said Kim and Putin may adopt a joint declaration that calls for both sides to elevate the level of military, security and economic cooperation, but they saw a low possibility of them clinching a treaty akin to a military alliance.

The two sides are also expected to highlight cooperation in the economic sector, as their arms deals and military cooperation constitute a violation of U.N. Security Council resolutions banning Pyongyang’s nuclear and missile programs, according to observers.

In an ar
ticle contributed Tuesday to the Rodong Sinmun, the North’s main newspaper, Putin said Russia has a plan to build trade and settlement systems with North Korea that will not be controlled by Western countries.

Following his trip to Pyongyang, Putin will fly to Vietnam for another state visit.

Source: Yonhap News Agency

Corporate direct financing in South Korea dropped from a month earlier in May partly on a sharp decline in the sale of stocks, data showed Wednesday.

Local companies raised a combined 21.18 trillion won (US$15.33 billion) by selling stocks and bonds in May, down 14.1 percent from the previous month, according to the data from the Financial Supervisory Service.

Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks and other financial institutions.

Stock issuance plunged 70.2 percent on-month to 49.4 billion won while the number of initial public offerings (IPOs) more than halved from 10 in April to four, with the amount of stocks sold through IPOs plummeting 85.8 percent from 558 billion won to 79.5 billion won.

Rights offerings also fell 10.5 percent to 130 billion won over the cited period.

Bond sales dipped 12.4 percent on-month to 20.97 trillion won last month.

As of end-May, the value of outstanding corporate bonds stood at 660.8 trillion won,
up 3.5 trillion won, or 0.5 percent, from a month earlier.

Local businesses issued 97.5 trillion won worth of commercial papers in May, down 7.7 percent from a month earlier, while they also issued 61.6 trillion won worth of short-term bonds, down 11.6 percent from 69.7 billion won issued in April.

Source: Yonhap News Agency

U.S. Secretary of State Antony Blinken pledged Tuesday to do “everything” to cut off North Korea’s support for Russia amid the war in Ukraine, as Russian President Vladimir Putin is set to hold a summit with North Korean leader Kim Jong-un in Pyongyang this week.

Blinken made the remarks as Putin and Kim are scheduled to hold a summit in the North Korean capital on Wednesday (Korea time) amid growing concerns about security implications of their countries’ deepening military cooperation.

“We’ll continue to do everything we can to cut off the support that countries, like Iran and North Korea, are providing,” the secretary said during a press conference after his meeting with North Atlantic Treaty Organization Secretary General Jens Stoltenberg in Washington.

Washington has revealed that the North provided Russia with more than 11,000 containers of munitions and related material and dozens of ballistic missiles for use in Ukraine.

Blinken reiterated that Russia is trying “in desperation” to develop and stre
ngthen relations with countries that can provide it with what it needs to continue the war in Ukraine, while criticizing China’s support for Russia’s defense industrial base and Iran’s provision of drones to Russia.

“We are very much concerned about this because this is what’s keeping the war going,” the secretary said, accusing China of “fueling the biggest security threat to Europe as a whole since the end of the Cold War.”

“The fastest way to end the war is for Putin to be disabused of the notion that he can outlast Ukraine and outlast all of Ukraine’s supporters, but also if he knows that the fuel he needs for his war machine won’t be there anymore,” he added.

Stoltenberg pointed out that Putin’s trip to the North “confirms the very close alignment between Russia and authoritarian states,” and underscores that security is a “global” issue.

“What happens in Europe matters for Asia. What happens in Asia matters for us. And this is clearly demonstrated in Ukraine, where Iran, North Korea and China are pr
opping up, fueling Russia’s war aggression against Ukraine,” he said.

“So this idea that we can divide security into regional theaters doesn’t work anymore. Everything is intertwined, and therefore we need to address these challenges together.”

As Putin arrived in the North, the White House reiterated concerns about military ties between Pyongyang and Moscow.

“Deepening cooperation between Russia and the DPRK is a trend that should be of great concern to anyone interested in maintaining peace and stability on the Korean Peninsula, upholding the global nonproliferation regime, abiding by the U.N. Security Council resolutions and supporting the people of Ukraine as they defend for their freedom and their independence against Russia’s aggression,” White House spokesperson Karine Jean-Pierre told a press briefing.

DPRK stands for the North’s official name, the Democratic People’s Republic of Korea.

“This is something that we have been warning about for some time as the DPRK’s provision of weapons to Russia h
as helped enable Russia’s brutal war in Ukraine,” she added.

Jean-Pierre also called attention to the summit statement that Putin and Chinese President Xi Jinping issued last month.

“We noted that the Putin-Xi joint statement called for all sides to reaffirm that political and diplomatic means as the only way to resolve issues on the Korean Peninsula. We hope this is a message that Putin will convey to Kim in their discussion,” she said.

“As we have said before, we don’t believe any country should give Mr. Putin a platform to promote the war of aggression that we are currently seeing in Ukraine, and Russia, we believe, is blatantly violating the U.N. Charter and working to undermine the international system.”

In a separate briefing, Pentagon spokesperson Maj. Gen. Pat Ryder criticized the North’s weapons support for Russia, saying it has been able to help Russia “perpetuate” what he termed an illegal and unprovoked war against Ukrainian people.

“Our focus continues to be on promoting regional security an
d stability in the region as well as our extended deterrence efforts as it comes to supporting our ROK and Japanese allies,” he said, referring to South Korea by its official name, the Republic of Korea.

Extended deterrence refers to the U.S.’ commitment to using the full range of its military capabilities, including nuclear, to defend its allies.

The planned summit between Kim and Putin is being carefully watched by Seoul, Washington and others as it could further accelerate their cooperation in defense and other areas.

Yuri Ushakov, Putin’s foreign policy aide, has told Russia’s news agency TASS that the summit may produce a treaty on a “comprehensive strategic partnership,” a document likely to cement the bilateral partnership at a time of their isolation on the global stage.

Source: Yonhap News Agency

North Korea was found to have been building up walls within the demilitarized zone (DMZ) separating the two Koreas. Bisected by the Military Demarcation Line (MDL), the DMZ is the buffer that keeps the armistice intact, more or less, between the two Koreas that never signed a peace treaty after their 1950-1953 fratricidal war.

By Tuesday the sources were cautiously determining the walls as more likely to be anti-tank barriers while saying they need more time to see if North Korea is actually building something akin to a border wall. They also questioned whether the North would build a defensive border wall along the entire 248-kilometer-long MDL. The construction of the walls seems to be the autocratic Kim Jong-un regime’s effort to tighten its grip on power against outside influences including hallyu, or the Korean wave. North Korea’s insularity is one of the major components of its regime’s stability.

Yet another incursion of North Korean soldiers on Tuesday, following the one last week into the southern
part of the DMZ, related to the wall’s construction, is troubling. Both sides limited themselves so that the incident did not blow over into a bigger crisis, but these Cold War-style campaigns are uncalled for, and they drain the two Koreas’ resources.

There has been a heightened propaganda war between the two Koreas recently, with the North sending its trash balloons and the South resuming loudspeaker broadcasts. Pyongyang had said that its trash balloons were in response to South Korea-based civic groups sending balloons carrying K-pop content in USB devices, rice and U.S. dollar bills. The civic groups are led mainly by North Korean defectors, who know firsthand the reality in North Korea.

North Korea has been fortifying itself against outside influences, such as with its law rejecting reactionary thought and culture in late 2020, to ensure that most of its 26 million people are barred from access to outside news. Pyongyang also shut down by putting up wire fences through the 1,400-kilometer-long border
it shares with China.

But an actual physical wall between the two Koreas may well mean the North materializing the “two-state entity” paradigm its leader proclaimed earlier this year.

North Korean leader Kim Jong-un has been declaring that the two Koreas’ relations have become “fixed into the relations between two states hostile to each other” since late last year. Kim shuttered organizations dealing with South affairs and ordered changes to the three principles of reunification – independence, peaceful unification and unity of the (Korean) peoples – in the North’s constitution. Monuments with mentions of reunification were also ordered to be torn down.

South Korea should be ready to decipher multi-faceted meanings of the North’s latests provocations as attempts at insularity or becoming emboldened over growing cooperation with Russia. President Vladimir Putin is currently in Pyongyang for a two-day trip beginning June 18. The outcome of the Kim-Putin summit will enable Seoul to come up with relevant respo
nses.

As to the walls being erected, South Korea’s Joint Chief of Staff official Tuesday said that the North’s activities were aimed to strengthen internal control. The North Korean regime has managed to sustain its hereditary power by heavily suppressing the people. But its younger generations are those who have experienced the power of “jangmadang” or private black markets to feed the people, and the existence of cellphones allows a porous inflow of outside information. Nevertheless, North Korean leader Kim has been desperate to do everything he can to tighten his grip on the regime.

Kim Yo-jong, the influential sister of the North Korean leader, recently warned of a “new type of counteractions” following the resumption of the South’s loudspeaker broadcasts. For Seoul, calm but alert vigilance of the North’s possible surgical and drone attacks is in order.

Source: Yonhap News Agency