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≡ N. Korea Renews Threat To Drop Planned Summit With US
A senior North Korean official has renewed threats to call off a planned summit between regime leader Kim Jong-un and U.S. President Donald Trump.
In a statement carried by the Korean Central News Agency, Vice Foreign Minister Choe Son-hui said Pyongyang will reconsider the June 12th summit if Washington sticks to its "unlawful and outrageous acts."
The North has ramped up criticism of the Trump administration for attempting to force "unilateral" denuclearization, with no promise of concessions until the process is in motion.
Choe's remarks come just a week after first vice foreign minister Kim Kye-gwan said the regime is not interested in being coerced into giving up its nuclear arsenal, warning it could walk away from the unprecedented meeting.■
[2018.05.24]
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≡ Constitutional Revision Bill Nullified Due To Lack Of Quorum
A government-proposed bill on a constitutional revision has been nullified as it failed to meet minimum voting requirements at the National Assembly.
Parliament convened a plenary session earlier today to deal with the bill proposed by President Moon Jae-in in March, which called for changing the current single five-year presidential term to a maximum of two successive four-year terms.
However, it was declared void due to the lack of a quorum.
Only 114 ruling party lawmakers took part in the vote -- well short of 192 out of 288 members needed to be valid.
Lawmakers of the Liberty Korea Party and the Bareunmirae Party did not attend the session to boycott the move.
Today is the legal deadline to vote on the bill.■[2018.05.24]
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≡ US Weighs Slapping Stiff Tariffs On Auto Imports
The U.S. Commerce Department has launched an inquiry that could allow the Trump administration to impose tariffs as high as 25 percent on auto imports.
Commerce Secretary Wilbur Ross announced Wednesday that he initiated a so-called Section 232 investigation on auto trade to determine whether the imports of automobiles and auto parts threaten U.S. national security.
Washington used the same justification to impose 25 percent tariffs on steel and aluminum last year.
A statement released by the White House confirmed that President Trump had instructed the department to consider kicking off the probe.
Though details of the investigation are not yet known, Korean automakers have expressed concerns that Washington's move could add uncertainties to the market in the short term.■
[2018.05.24]
