tiptrot.com March 24, 2018

South Korea: Taking military helm will scare the North

29 September 2017, 12:17 | Cedric Leonard

South Korea: Taking military helm will scare the North

North Korea's Foreign Minister Ri Yong Ho said Trump had “declared war” on his country by tweeting that North Korean leader Kim Jong Un “won’t be around much longer.”

Market participants see Seoul's diplomatic standoff with Beijing over security issues as a hurdle in extending the $56 billion swap deal, given China continues to boycott made-in-Korea products over Korea's decision to deploy a US anti-missile defence system in the country.

South Korean President Moon Jae-in insisted Thursday he has "confidence" in his own military as he moved to take wartime operational control from the United States.

Tension on the Korean peninsula has risen in recent weeks as North Korea's leader Kim Jong Un and U.S. President Donald Trump exchanged war-like threats and insults over the North's nuclear and missile development program.

South Korea and the USA insist it is only to curb North Korea's missile threats. "I lived in China in the 1990's when then-President Clinton made the deal with North Korea". North Koreans can launch artillery within seconds and hit Seoul.

"Short-term, its hard to expect markets to recover fast (from North Korea related jitters)", Hwang said, adding that his team will be on stand-by to provide policy responses to any escalations that occur over the long Chuseok holiday from October 2 through October 9, when local financial markets will be closed.

Pyongyang conducted its sixth and largest nuclear test on Sept 3 and has launched dozens of missiles this year as it accelerates a programme aimed at enabling it to target the USA with a nuclear-tipped missile.

The United States and South Korea are technically still at war with North Korea because the 1950-53 Korean conflict ended with a truce and not a peace treaty. The North Koreans have an extensive chemical weapons stockpile.

The sources said it appeared that China was trying to drive a wedge in relations between South Korea, Japan and the United States by highlighting Seoul's hopes of keeping the door for dialogue open with North Korea.

Daines outlined what South Korea faces every day.

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