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S.Korea president proposes peace park with N.Korea

Agence France-PresseMay 8, 2013 14:18
South Korea's president on Wednesday proposed an international park on the tense border with North Korea as part of a peace initiative to bring down soaring tensions in the region. "The Demilitarized Zone must live up to its name, a zone that strengthens the peace, not undermines it," President Park Geun-Hye told a joint meeting of the US House of Representatives and Senate. "It is with this vision in mind that I hope to work toward an international park inside the DMZ. It will be a park that sends a message of peace to all of humanity," she said.

Japan hails Chinese pressure on N. Korea

Kyodo News InternationalMay 8, 2013 06:41
Japan on Wednesday welcomed Chinese moves to put pressure on North Korea to abandon its nuclear and missile development programs, after China's state-run bank halted transactions with a North Korean lender allegedly linked to these programs. "We hail such a response made by China, which has influence on North Korea," Chief Cabinet Secretary Yoshihide Suga said at a news conference. Beijing is a major ally of Pyongyang.

Obama vows firm commitment to defend S. Korea from North

Kyodo News InternationalMay 7, 2013 18:00
U.S. President Barack Obama and his South Korean counterpart Park Geun Hye pledged to stand firm together against North Korea's provocations and security threats, with Obama reaffirming Washington's commitment to defending Seoul. At a joint press conference following their first meeting at the White House, Obama said, "We are determined to be fully prepared for any challenge or threat to our security and obviously that includes the threat from North Korea."

Obama to renew strong commitment to defend S. Korea from North

Kyodo News InternationalMay 7, 2013 15:30
U.S. President Barack Obama met with his South Korean counterpart Park Geun Hye on Tuesday and is expected to reaffirm strong U.S. commitment to the defense of South Korea from the security threat posed by North Korea. During their first meeting at the White House, Obama and Park are likely to emphasize the robust security alliance and close economic relations.

Korea Aerospace wins $1 billion order for fighter jets

May 7, 2013 13:36
SEOUL (Reuters) - Korea Aerospace Industries Ltd (KAI) <047810.KS> has won a 1.12 trillion won ($1.02 billion) order to supply an unnamed number of FA-50 fighter jets to South Korea's military through the Defense Acquisition Program Administration (DAPA). The South Korean aircraft maker said in a regulatory filing on Tuesday that the contract is based on an initial mass-production agreement reached in December 2011, and will last until October of 2016. ($1 = 1094.4500 Korean won)

Euro zone sentiment rises in May as Italy, Cyprus worries ease

May 7, 2013 13:10
BERLIN (Reuters) - Euro zone sentiment improved in May as investors' views on the outlook for the currency bloc steadied following two months of declines sparked by uncertainty in Cyprus and Italy. Sentix research group said on Monday its monthly index tracking investor sentiment in the 17-nation currency bloc rose to -15.6 in May from -17.3 in April, just short of the consensus in a Reuters poll of economists for -15.2.

Hashimoto clarifies remarks on "comfort women" after flak

Kyodo News InternationalMay 7, 2013 12:30
Osaka Mayor Toru Hashimoto on Wednesday sought to clarify his remarks on a system to recruit women into sexual servitude for Japan's soldiers during World War II, saying he personally does not condone the scheme. Two days after he made controversial remarks that the so-called comfort women were "necessary to maintain discipline" in the Japanese military, Hashimoto told reporters he simply stated a fact that people at the time had that kind of view.

North Korea missiles moved away from launch site: U.S. officials

May 7, 2013 11:02
WASHINGTON (Reuters) - North Korea has taken two Musudan missiles off launch-ready status and moved them from their position on the country's east coast, U.S. officials told Reuters on Monday, after weeks of concern that Pyongyang was poised for a test-launch. The United States did not believe the missiles were moved to an alternate launch site and were instead in a non-operational location, one of the U.S. officials said. The official did not elaborate. (Reporting by Phil Stewart; Editing by Sandra Maler)

U.S. seeks North Korean amnesty for American jailed for 15 years

May 7, 2013 10:32
By Ju-min Park and Paul Eckert SEOUL/WASHINGTON (Reuters) - North Korea sentenced an American citizen to 15 years of hard labor on Thursday for crimes against the state, prompting a U.S. call for his amnesty in hopes of avoiding him becoming a bargaining chip between the two countries. Kenneth Bae, 44, was born in South Korea but is a naturalized citizen and attended the University of Oregon. His sentencing comes after two months of saber-rattling that saw North Korea threaten the United States and South Korea with nuclear war.

Top China bank shuts key N. Korea account: Dow Jones

Agence France-PresseMay 7, 2013 08:16
The state-owned Bank of China has shut the account of a North Korean bank accused by the United States of supporting the North's nuclear programme, Dow Jones Newswires said Tuesday. "The Foreign Trade Bank of North Korea, the country's main foreign-exchange bank, has been told its account has been closed," Dow Jones reported, citing a statement from the Chinese financial institution.
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