Berliner Boersenzeitung - South Korea's new leader vows to 'heal wounds' with nuclear-armed North

EUR -
AED 4.301388
AFN 81.339917
ALL 97.793215
AMD 449.822133
ANG 2.095785
AOA 1073.877214
ARS 1477.8043
AUD 1.80227
AWG 2.107938
AZN 1.953194
BAM 1.953268
BBD 2.364834
BDT 143.24429
BGN 1.953765
BHD 0.441434
BIF 3444.136711
BMD 1.171077
BND 1.498058
BOB 8.093507
BRL 6.412459
BSD 1.171281
BTN 100.547644
BWP 15.626474
BYN 3.833031
BYR 22953.104232
BZD 2.35265
CAD 1.601231
CDF 3378.556766
CHF 0.935052
CLF 0.02873
CLP 1102.498888
CNY 8.402363
CNH 8.406252
COP 4721.89855
CRC 591.533101
CUC 1.171077
CUP 31.033534
CVE 110.434311
CZK 24.645338
DJF 208.124315
DKK 7.460052
DOP 70.322766
DZD 151.805596
EGP 58.163163
ERN 17.566151
ETB 162.55056
FJD 2.636439
FKP 0.857996
GBP 0.860443
GEL 3.1851
GGP 0.857996
GHS 12.175994
GIP 0.857996
GMD 83.746883
GNF 10136.840645
GTQ 9.003328
GYD 245.042313
HKD 9.192818
HNL 30.600328
HRK 7.537987
HTG 153.221355
HUF 399.838412
IDR 19044.518483
ILS 3.914541
IMP 0.857996
INR 100.478444
IQD 1534.310828
IRR 49331.608397
ISK 142.613315
JEP 0.857996
JMD 186.937643
JOD 0.830262
JPY 171.083185
KES 151.619576
KGS 102.410576
KHR 4708.899653
KMF 492.435197
KPW 1053.969363
KRW 1609.888811
KWD 0.357761
KYD 0.976018
KZT 608.431194
LAK 25236.703583
LBP 104928.476501
LKR 352.393137
LRD 234.801086
LSL 20.796139
LTL 3.457885
LVL 0.708373
LYD 6.31237
MAD 10.55784
MDL 19.759046
MGA 5136.340942
MKD 61.557682
MMK 2458.723874
MNT 4196.670975
MOP 9.470422
MRU 46.440791
MUR 52.674928
MVR 18.042732
MWK 2030.567452
MXN 21.86138
MYR 4.959485
MZN 74.901921
NAD 20.796139
NGN 1792.250706
NIO 43.104117
NOK 11.857691
NPR 160.87643
NZD 1.951324
OMR 0.450279
PAB 1.171281
PEN 4.175471
PGK 4.910634
PHP 66.329739
PKR 332.779765
PLN 4.251766
PYG 9333.898979
QAR 4.281649
RON 5.065843
RSD 117.16512
RUB 92.163356
RWF 1691.307289
SAR 4.392132
SBD 9.763178
SCR 16.525032
SDG 703.228077
SEK 11.146267
SGD 1.498194
SHP 0.920282
SLE 26.290837
SLL 24556.898127
SOS 669.332238
SRD 43.625536
STD 24238.924258
SVC 10.248713
SYP 15226.253808
SZL 20.790047
THB 38.173933
TJS 11.273185
TMT 4.110479
TND 3.393194
TOP 2.742782
TRY 46.825826
TTD 7.938708
TWD 34.049039
TZS 3091.867482
UAH 49.00297
UGX 4201.552857
USD 1.171077
UYU 47.009055
UZS 14707.931763
VES 128.20187
VND 30617.801538
VUV 138.688767
WST 3.035441
XAF 655.096506
XAG 0.031929
XAU 0.000352
XCD 3.164894
XDR 0.81167
XOF 655.107679
XPF 119.331742
YER 283.575941
ZAR 20.838315
ZMK 10541.098103
ZMW 28.372731
ZWL 377.086235
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

South Korea's new leader vows to 'heal wounds' with nuclear-armed North
South Korea's new leader vows to 'heal wounds' with nuclear-armed North / Photo: ANTHONY WALLACE - POOL/AFP

South Korea's new leader vows to 'heal wounds' with nuclear-armed North

South Korea's new President Lee Jae-myung vowed to reach out to the nuclear-armed North and "heal wounds" as he took office Wednesday, after winning snap elections triggered by his predecessor's disastrous martial law declaration.

Text size:

South Korea's new centre-left leader also warned that "rising protectionism and supply chain restructuring" posed an existential threat to Asia's export-dependent fourth-largest economy, which has been buffeted by the global trade chaos sparked by US President Donald Trump.

Lee scored a thumping victory over conservative Kim Moon-soo, of disgraced ex-president Yoon Suk Yeol's former party, in snap elections, with his term beginning immediately after the vote tally was certified early Wednesday.

Lee secured 49.4 percent of the vote, far ahead of the 41.2 percent for Kim -- who conceded, having been hampered by party infighting and a third-party candidate splitting the right-wing vote.

Lee spoke to South Korea's top military commander and formally assumed operational control of the country's armed forces Wednesday, urging them to maintain "readiness" in case of Pyongyang provocations -- but said in his first comments that he was ready to talk.

"We will heal the wounds of division and war and establish a future of peace and prosperity," he said.

"No matter how costly, peace is better than war."

He said the country would "deter North Korean nuclear and military provocations while opening communication channels and pursuing dialogue and cooperation to build peace on the Korean Peninsula".

Lee took office just hours before the United States was set to slap tariffs of 50 percent on South Korea's crucial steel and aluminium exports.

"The rapid changes in the global order such as rising protectionism and supply chain restructuring pose a threat to our very survival," Lee said.

Markets reacted favourably to the election, with the benchmark KOSPI and the won rising Wednesday.

- 'Significant departure' -

Lee's comments on North Korea are a "significant departure" from those of his hawkish predecessor Yoon, as he did not immediately attach preconditions to dialogue with Pyongyang, said Hong Min, a senior analyst at the Korea Institute for National Unification.

It signals "his desire to resolve disagreements through talks", Hong told AFP.

"While it remains to be seen how Pyongyang will respond, it is notable that Lee has clearly indicated a different approach to North Korea," he added.

Lee held a modest inauguration ceremony at the National Assembly -- where Yoon deployed armed troops on the night he attempted to suspend civilian rule.

Just a few hundred guests attended, in contrast to the large outdoor events held after regularly scheduled elections, which often attract tens of thousands.

He will later head to the presidential office to begin naming key cabinet members, with the focus on who is tapped to serve as presidential chief of staff, prime minister and director of the National Intelligence Service.

The day is expected to end with a flurry of congratulatory phone calls from world leaders, with Trump likely to be the first on the line.

Washington's alliance with Seoul was "ironclad", the US secretary of state said in a statement, citing "shared values and deep economic ties".

Lee comes to power with his party already holding a parliamentary majority -- secure for the next three years -- meaning he is likely to be able to get his legislative agenda done.

(Y.Berger--BBZ)