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South Korea Counters U.S. Tariff Threat While Launching Bribery Probe and Tech Funding

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  • Trade Minister Yeo Han-koo speaks to reporters at Incheon International Airport, the key gateway to South Korea, on Feb. 5, 2026, after wrapping up his trip to Washington for tariff talks. (Yonhap)
    Image: Yonhap
    Trade Minister Yeo Han-koo speaks to reporters at Incheon International Airport, the key gateway to South Korea, on Feb. 5, 2026, after wrapping up his trip to Washington for tariff talks. (Yonhap) Source Full size

Diplomatic Push to Defuse 25% Tariff Threat Trade Minister Yeo Han‑koo returned from a week‑long Washington trip, saying Seoul will maintain close consultations with Washington to avert the 25 percent tariff Trump announced after Seoul delayed legislation needed for the bilateral trade deal that had lowered most U.S. tariffs to 15 percent [1]. The ministry emphasized that dialogue, not retaliation, remains the preferred path to resolve the dispute [1].

Police Seek Arrest Warrants in Election Bribery Case Seoul police on Thursday asked courts for arrest warrants for independent lawmaker Kang Sun‑woo and former Seoul councilor Kim Kyung, alleging they participated in a bribery scheme linked to the 2022 local elections [1]. investigators claim the two accepted illicit payments in exchange for influencing candidate selections, prompting a high‑profile probe into election‑related corruption [1].

U.S.–South Korea Talks Expand Nuclear Fuel and Submarine Cooperation Foreign Minister Cho Hyun met U.S. Energy Secretary Chris Wright in Washington, reaffirming urgency for civil uranium enrichment, spent‑fuel reprocessing rights, and acquisition of nuclear‑powered submarines as outlined in a joint fact sheet released after summits between Presidents Lee Jae Myung and Donald Trump [1]. Both sides described the cooperation as “strategic” and essential for regional security and energy independence [1].

Seoul Extends Holiday Transit and Medical Services The city announced subway and bus lines will run until 1 a.m. on February 16‑18 for the Lunar New Year, while 72 emergency medical facilities stay open 24 hours and an average of 2,600 hospitals and pharmacies operate daily throughout the holiday period [1]. Officials said the extensions aim to accommodate increased travel and ensure continuous health coverage during the festive season [1].

International Banks Raise South Korea Growth Forecast to 2.1% Eight major global investment banks lifted their average GDP growth projection for South Korea to 2.1 percent as of end‑January, up 0.1 point from the previous month, citing an upcycle in the worldwide semiconductor industry [1]. The Korea Center for International Finance compiled the forecast, noting that strong export demand underpins the optimistic outlook [1].

Industry Ministry Allocates Over 460 Billion Won for Auto Technology The Ministry of Trade, Industry and Resources will earmark up to 464.5 billion won (about US$317.6 million) to support domestic automotive development of autonomous driving and other cutting‑edge technologies [1]. The funding follows a record US$72 billion in auto exports last year, despite ongoing U.S. tariff pressures [1].

Sources

Timeline

Oct 2023 – President Yoon Suk Yeol and Defence Minister Kim Yong‑Hyun begin drafting a scheme to suspend the National Assembly and seize legislative power, marking the earliest planning of the later martial‑law bid [2][15].

Dec 3, 2024 – Yoon issues an emergency martial‑law decree, orders troops to surround the National Assembly and brands the liberal‑controlled legislature “anti‑state forces,” while simultaneously launching covert drone flights over North Korea to create a pretext [1][30].

Dec 4, 2024 – Lawmakers vote down the decree within hours, forcing Yoon to end the martial‑law attempt; the brief episode triggers nationwide protests and sets the stage for his impeachment [1][30].

Apr 4, 2025 – The Constitutional Court unanimously removes Yoon from office, clearing the way for a snap presidential election [24].

Jun 3, 2025 – Lee Jae Myung wins the presidential election, pledging democratic restoration and accountability for the martial‑law crisis [1][24].

Dec 1, 2025 – President Lee posts on X urging that all “acts of insurrection” from the 2024 martial‑law bid be fully addressed, warning that unresolved acts will “inevitably resurface” [26].

Dec 2, 2025 – Lee declares the martial‑law crisis a testament to South Korea’s democratic resilience, noting the swift restoration of civil liberties after the temporary suspension [22].

Dec 2, 2025 – Gyeonggi Governor Lee Jae‑yeong proposes designating Dec 3 as “National Sovereignty Day” to commemorate the 1961 martial‑law coup and honor democratic values [23].

Dec 2, 2025 – Citizens observe the first anniversary of the Dec 3, 2024 martial‑law declaration at a commemorative stone outside the National Assembly [24].

Dec 3, 2025 – The National Assembly passes the 2026 budget of 728 trillion won ahead of schedule, enabling Lee’s policy agenda and signaling bipartisan fiscal cooperation [25].

Dec 4‑5, 2025 – The Office for Government Policy Coordination announces a penalty‑exemption policy for officials who self‑report involvement in the martial‑law attempt, aiming to encourage early disclosure [20].

Dec 8, 2025 – The presidential office backs the creation of a special court division to handle insurrection‑related cases, despite constitutional concerns [19].

Dec 9, 2025 – Seoul’s presidential office reaffirms Dokdo as unequivocally Korean territory, issuing its first strong response to Japan’s claim since Lee’s inauguration [17].

Dec 15, 2025 – Independent counsel Cho Eun‑suk releases a six‑month investigation concluding that Yoon deliberately prepared the martial‑law decree to eliminate rivals and monopolize power, with planning beginning before Oct 2023 [1].

Dec 16, 2025 – Special counsel reports that Yoon’s plan aimed to tag opponents as “anti‑state forces,” replace the Assembly with an emergency body, and consolidate power, confirming the scheme pre‑dated late‑Oct 2023 reshuffles [15].

Dec 23‑24, 2025 – The ruling People Power Party pushes through the Information Act, an insurrection‑tribunal bill, and an anti‑fake‑news bill, expanding state oversight and emergency‑style powers amid ongoing controversy [10].

Jan 9, 2026 – Seoul Central District Court hears arguments on Yoon’s insurrection case, with prosecutors seeking the death penalty for his failed martial‑law bid; the court schedules further proceedings for Jan 13 [2][9].

Jan 13, 2026 – The court holds the final hearing in Yoon’s trial, concluding the evidentiary phase of the case that began after his indictment [8].

Jan 14, 2026 – President Lee meets ethnic Koreans in Nara, Japan, thanking them for “lighting beacons” that protected Korean democracy during the martial‑law crisis and apologizing for past espionage accusations [6]; later that day he tours Horyu‑ji Temple with Japanese Prime Minister Sanae Takaichi, underscoring cultural diplomacy [7].

Jan 14, 2026 – Special counsel Cho Eun‑suk’s team formally requests the death penalty for Yoon, labeling him the insurrection ringleader who sought to seize the judiciary and legislature [7].

Jan 20, 2026 – The government announces plans to push legislation protecting roughly 8.7 million gig workers, expanding labor rights amid broader reform efforts [5].

Jan 23, 2026 – Lee calls for public backing of a balanced regional‑growth strategy that will develop five hubs and three self‑governing provinces, aiming to reduce Seoul’s dominance [4]; the same day police impose travel bans on three civilians linked to alleged drone flights over North Korea [4].

Jan 2026 (unspecified) – Seoul police request arrest warrants for independent lawmaker Kang Sun‑woo and former councilor Kim Kyung over a bribery scheme tied to the 2022 local elections [3].

Feb 5, 2026 – Trade Minister Yeo Han‑koo returns from Washington, pledging close consultations to avert a U.S. 25 % tariff on Korean goods, while Foreign Minister Cho Hyun secures U.S. commitments on civil uranium enrichment, spent‑fuel reprocessing and nuclear‑powered submarines [3]; the Ministry of Trade, Industry and Resources earmarks 464.5 billion won for autonomous‑driving and other auto‑tech development [3].

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