Homepage / Asia / South Korea relieved about Trump-Kim summit revival efforts
Alibaba’s Jack Ma says bitcoin is 'likely' a bubble while embracing its underlying blockchain tech Netflix is on pace for its worst day in 2 years Carnival shares plunge the most in 2 years after slashing full-year forecast Even amid a potential trade war, US stocks are still beating the rest of the world Chip stocks plunge after Trump's reported plan to restrict foreign technology investment Apple will have a special news section for the midterm elections, curated by human editors Amazon could double Whole Foods' customer base with Prime perks: Analyst Goldman Sachs-backed Circle sees boom in crypto demand from institutional investors, despite bear market Treasury Secretary Mnuchin says investment restrictions will apply to 'all countries that are trying to steal our technology' Former Starbucks CEO Howard Schultz calls the stock ‘cheap,’ but some say it’s cheap for a reason AT&T to buy online ad firm AppNexus US new home sales surge in May Buy AMD because of its ‘generational opportunity’ to gain share against Intel: Bank of America 'This isn't even a tech index': Ex-NYSE president Tom Farley throws shade at the Nasdaq Legendary investor Bill Miller reveals the biggest mistake value investors are making now Majority of Americans approve of Trump's handling of the economy for the first time: CNBC survey Microsoft given buy rating because of cloud computing growth Intel is downgraded due to ‘lack of leadership’ after CEO resignation; shares fall Here are 5 reasons why your portfolio isn't performing well China extends its lead as the most prolific make of supercomputers Uber kicks off a fight to keep operating in one of its most important cities Erdogan wins more power, and it might not help Turkey's economy Beyond the South China Sea: Beijing may target these waterways next European markets seen lower on trade, migration concerns India has proposed a new fix for its bad debt problem. It may not be enough One of the world's hottest property markets is readying a contentious change US to give North Korea post-summit timeline with 'asks' soon, official says Trump is reportedly planning major new restrictions against China Asia set for a cautious open as US-China trade tensions simmer Many companies at Cannes Lions had yachts, but Google, Facebook, Spotify and Twitter have beaches Tech could soon turn into the market's headache: Wells Fargo's Chris Harvey Forget millennials: Here's a good reason why Apple should hire your grandmother How Amazon's roaring success selling batteries is making it wonder which market it can disrupt next A company is showing how blockchain is more than just cryptocurrency — it can also cut food waste AT&T and Verizon have drones that could provide cell service and save lives this hurricane season How the Supreme Court may have made Web shopping pricier for just about everyone but Amazon How to choose between an Amazon Echo, a Google Home and an Apple HomePod Electric scooters draw hordes of investors and avid users — but a number of critics as well This floating robotic factory will build satellites and spaceships in orbit Meet the man whose job it is to reassure people that Google search isn’t evil Euro is here to stay: German finance minister China's ZTE expected to take last step to lift ban Cramer Remix: The best way to play the stress test results Red Hat CEO on earnings-led stock drop: 'I would encourage investors to look long term' Apple launches free repair program for MacBook and MacBook Pro keyboards The founder of JetBlue is about to start a new airline Tesla is suing an ex-employee for hacking into its 'MOS' software — here's what that system does Morgan Stanley sees 'a pattern forming' of the space industry developing like self-driving cars Buy Intel shares because its CEO change will not hurt the chipmaker: Credit Suisse Xiaomi reportedly awards founder $1.5 billion in stock ahead of IPO Tesla reports another fire at Fremont factory Tesla shares drop after analyst raises concern over a rise in its services costs Increased threat of a trade war is ramping up fears of a 'full-blown recession' CarMax shares surge to record high, on pace for their best day in 4 years If energy can clear one hard-to-break level, it’s off to the races, chart watcher says Warren Buffett: 'Any time the market takes a sharp dive,' read this book Supreme Court rules warrants required for cellphone location data Trump urges OPEC to 'keep prices down' as oil cartel's meeting wraps up Cramer: Strength in tech and retail has 'masked' weakness in the broader market Buy EA shares because it is ‘building a Netflix for video games’: Needham What’s at stake in Turkey’s elections, and why Erdogan could actually lose Facebook’s ‘lack of accountability’ in its data scandal spurs European sustainability fund to dump shares Goldman Sachs: GE should suspend dividend for the next 18 months OPEC ministers strike deal on oil production levels Stocks making the biggest moves premarket: BB, MDT, URI, JPM, BAC & more Pro tips on taking great video of your vacation — right from your phone All 35 times the market did this, stocks ended the year higher Bitcoin tumbles after Japan watchdog orders exchanges to beef up practices against money laundering Husband cheating? Ashley Madison says member signups spiked in these cities last year James Comey: Public anger about migrant children is ‘why Trump ran’ from the policy Chinese stocks are flirting with bear market territory as trade worries fester BlackBerry posts quarterly loss Friday will likely be the year's biggest stock market volume day with big action in Apple, JP Morgan Rival Koreas agree to reunions of war-separated families US companies like Micron are accusing China of intimidation and outright theft to dominate tech Disney said it's willing to divest more Fox assets for to get a deal cleared by regulators Tesla is preparing to close a dozen solar facilities in 9 states Uber driver was streaming Hulu show 'The Voice' just before self-driving car crash: Police report OPEC heads into showdown over oil output, with Saudi Arabia and Iran on different sides Chinese media says US has 'delusions' as impact of trade war spreads YouTube introduces paid subscriptions and merchandise selling in bid to help creators monetize the platform Airbus says no-deal Brexit would force it to reconsider UK presence European stocks seen slightly higher ahead of OPEC meeting Euro zone hits 'historic moment' as it closes eight years of financial support to Greece Trade tensions are the biggest risk for the euro zone, the IMF says With freedom to drive, Saudi Arabia's women could change the economy Taiwan's Foxconn says biggest challenge is US-China trade war Euro zone agrees on debt relief package for Greece Asian shares set to decline, taking cues from Wall Street's losses; OPEC meeting ahead Chevrolet is bringing back the Blazer as a crossover Cramer Remix: It was the hottest group in the market until Red Hat reported SpaceX’s Falcon Heavy rocket wins Air Force certification and a $130 million contract Cramer goes out on a limb in support of chipmaker Micron Okta CEO explains why his cybersecurity company has a leg up on big-name tech giants like Microsoft Cramer: CEO change aside, Intel's stock is too cheap at these levels The head of Amazon's marketplace has lost most of his authority amid internal shake-up Alphabet reportedly may spin out molten-salt project with Bill Gates' $1 billion energy fund Red Hat slides on low guidance Tax automation company soars after Supreme Court decision Why Amazon is the winner of the Supreme Court sales tax ruling

Asia

South Korea relieved about Trump-Kim summit revival efforts

South Korea on Saturday expressed cautious relief about the revived talks for a summit between President Donald Trump and North Korean leader Kim Jong Un following a whirlwind 24 hours that saw Trump canceling the highly-anticipated meeting before saying it’s potentially back on.

The statement by Seoul’s presidential office came hours after Trump welcomed North Korea’s conciliatory response to his Thursday letter withdrawing from the summit with Kim and said that the meeting might be getting back on track. Trump later on Saturday tweeted that the summit, if it does happen, will likely take place on June 12 in Singapore as originally planned.

“We see it as fortunate that the embers of dialogue between North Korea and the United States weren’t fully extinguished and are coming alive again,” Seoul’s presidential spokesman Kim Eui-kyeom said in a statement. “We are carefully watching the developments.”

South Korea, which brokered the talks between Washington and Pyongyang, was caught off guard by Trump’s abrupt cancellation of the summit citing hostility in recent North Korean comments. South Korean President Moon Jae-said Trump’s decision left him “perplexed” and was “very regrettable.” He urged Washington and Pyongyang to resolve their differences through “more direct and closer dialogue between their leaders.”

Moon and Kim held a historic summit in April where they announced vague aspirations for a nuclear-free peninsula and permanent peace, which Seoul has tried to sell as a meaningful breakthrough to set up the summit with Trump.

Trump’s back-and-forth over his summit plans with Kim has exposed the fragility of Seoul as an intermediary. It fanned fears in South Korea that the country may lose its voice between a rival intent on driving a wedge between Washington and Seoul and an American president who thinks less of the traditional alliance with Seoul than his predecessors.

Early this month, North Korea canceled a high-level meeting with Seoul over South Korea’s participation in regular military exercises with the United States and insisted that it will not return to talks unless its grievances are resolved.

Trump’s decision to pull out of the summit with Kim came just days after he hosted Moon in a White House meeting where he openly cast doubts on the Singapore meeting but offered no support for continued inter-Korean progress, essentially ignoring the North’s recent attempts to coerce the South.

In his letter to Kim, Trump objected specifically to a statement from senior North Korean diplomat Choe Son Hui. She referred to Vice President Mike Pence as a “political dummy” for his earlier comments on North Korea and said it was up to the Americans whether they would “meet us at a meeting room or encounter us at nuclear-to-nuclear showdown.”

North Korea issued an unusually restrained and diplomatic response to Trump, saying it’s still willing to sit for talks with the United States “at any time, (in) any format.”

“The first meeting would not solve all, but solving even one at a time in a phased way would make the relations get better rather than making them get worse,” North Korean Vice Foreign Minister Kim Kye Gwan said in a statement carried by Pyongyang’s official Korean Central News Agency, which mainly targets external audience.

Notably, the statement did not appear in Saturday’s edition of Rodong Sinmun, the official mouthpiece of the North’s ruling party that’s widely read by North Koreans.

The newspaper instead focused on Kim Jong Un’s visit to the coastal town of Wonsan to inspect the construction of a beachfront tourist complex. Kim ordered the complex to be finished by April 15 next year to mark the birthday of his late grandfather and North Korea founder Kim Il Sung. Kim Jong Un’s comments published by the newspaper did not include any mention of his potential meeting with Trump.

Analysts say Kim’s diplomatic outreach in recent months after a flurry of nuclear and missile tests in 2017 indicates he is eager for sanctions relief to build his economy and the international legitimacy the summit with Trump would provide. But there’s also skepticism whether Kim will ever agree to fully relinquish his nuclear arsenal, which he likely sees as his only guarantee of survival.

Comments in North Korea’s state media indicate Kim sees any meeting with Trump as an arms control negotiation between nuclear states, rather than a process to surrender his nukes. The North has said it will refuse to participate in talks where it would be unilaterally pressured to give up its nukes.

Source: cnbc china
South Korea relieved about Trump-Kim summit revival efforts

Comments are closed.