To discuss the effect of the trade war between China and the U.S. on the South Korean economy, Vice minister of economy and finance, Lee Ho-seung, held a meeting on Monday in Seoul with economy-related officials.
The meeting comes after Korean stocks plunged and the won sharply depreciated last week.
The vice minister said Washington's decision will have a limited impact on the real economy because the higher tariffs will apply to new shipments from China starting May 10th meaning no 'immediate' effect.
Because the two sides are still expressing a willingness to pursue negotiations, he emphasized there's no need for excessive pessimism.
U.S. Secretary of State Mike Pompeo has once again pledged not to follow the path of previous administrations when it comes to negotiations on North Korea's denuclearization, which failed and even led to the additional development of the regime's nuclear program.
He explained that the Trump administration's goal is achieving the regime's complete denuclearization.
Pompeo also made it clear that Washington is determined to cooperate fully with South Korea and Japan, while convincing Russia and China that the move is in the best interest of the international community.
The South Korean government is pushing forth ways to provide humanitarian food aid to the North.
And to this, one of North Korea's propaganda websites Meari on Sunday condemned the idea, blasting South Korea's attempt as rather condescending.
It said it was deriding for the people of North Korea as South Korea is pushing aside the basic problems of the inter-Korean joint declaration to instead talk about a few cases of insubstantial humanitarian aid.
The news outlet said that, if South Korea was genuinely interested in developing inter-Korean relations, it should stick to the implementation of the agreed joint declaration on inter-Korean cooperation, without being self-conscious of the United States.
Amid South Korea's efforts to provide food aid to North Korea, David Beasley, the Executive Director for the World Food Programme is to discuss the issue with Seoul's foreign affairs and unification ministers on Monday.
Beasley is in Seoul for a forum on agricultural development.
However, the ministries have said that his sit-down with the ministers will mainly cover the W.F.P.'s recent report on how North Korea needs roughly 1-point-4 million tons of food aid.
With U.S. President's support, Seoul announced last week, that it will start reviewing humanitarian food aid to the North.
Source: Arirang News
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