The Minute to Read (Weekend) series provides a quick overview of significant events in Korea from the week, conveniently condensed into a one-minute read. Here’s a recap of what happened this week: Apr. 7-11.
Han talks trade, defense in first call with Trump
South Korea’s acting President and Prime Minister Han Duck-soo held a 28-minute phone call with U.S. President Donald Trump on April 8. It was their first bilateral conversation since the Dec. 3 martial law declaration and the launch of Trump’s second administration. Trump raised concerns about the U.S. trade deficit with South Korea, tariffs, shipbuilding cooperation, U.S. liquefied natural gas (LNG) exports, and defense cost-sharing. According to the Prime Minister’s Office, Han expressed hope for a “win-win” outcome between the two nations. Shortly after the call, Kevin Hassett, head of the National Economic Council, told reporters that Trump had ordered trade negotiators to prioritize allies such as South Korea and Japan.
Presidential race heats up with high-profile entrants
With South Korea’s 21st presidential election set for June 3, multiple candidates from both the ruling and opposition parties have entered the race. Employment and Labor Minister Kim Moon-soo resigned on April 8 to run for president. The following day, former Prime Minister Hwang Kyo-ahn left the People Power Party to launch an independent bid. Former PPP leader Han Dong-hoon and Democratic Party leader Lee Jae-myung declared their candidacies on April 10, while PPP leader Na Kyung-won joined the race on April 11, becoming the first woman in the race.
Ousted President Yoon leaves official residence
Former South Korean President Yoon Suk-yeol moved out of the presidential residence in Hannam-dong, Seoul, at 5 p.m. on April 11 and returned to his private home in Seocho-dong, 886 days after first moving into the official residence on Nov. 7, 2022. Thanking the public, Yoon said he would “return to civilian life and seek a new path for the nation,” vowing to continue contributing to South Korea’s freedom and prosperity. Following his impeachment, the Presidential Security Service assigned a 40-member protection team to Yoon under current law, which grants former presidents removed from office security coverage for five years, extendable up to 10.
Chinese nationals caught illegally filming military sites in S. Korea
Chinese nationals have been repeatedly caught illegally photographing major South Korean military facilities, raising national security concerns. Two Chinese teenagers were apprehended on March 21 near Suwon Air Base filming fighter jet operations with a DSLR camera and smartphones. Authorities found dozens of images of Suwon-based aircraft. They had entered the country on tourist visas just three days earlier and were also spotted filming near Osan Air Base. Investigators suspect reconnaissance activity but face legal limits in applying espionage charges under current laws.
Trump order to revive U.S. shipbuilding spurs hope in S. Korea
South Korea may benefit from a new executive order signed by U.S. President Donald Trump on April 9 to revive America’s shipbuilding industry as a national security priority. The order, titled “Restoring America’s Maritime Dominance,” includes measures to curb China’s influence in maritime logistics and shipbuilding. The move is seen as favorable for South Korea, a key U.S. ally and global leader in shipbuilding.
Trump previously discussed shipbuilding cooperation with former President Yoon Suk-yeol last year and reiterated the topic with acting President Han Duck-soo during a phone call on April 8. Following Hanwha’s acquisition of the Philadelphia Navy Yard, interest in Korean firms like HD Hyundai has grown, along with expanding partnerships in advanced technologies such as AI and autonomous vessels.
Hanwha Aerospace cuts rights offering amid succession concerns
Hanwha Aerospace said on April 8 that it would reduce its planned rights offering from 3.6 trillion won to 2.3 trillion won. The move comes amid growing speculation that the funds would be used to facilitate a succession process within the Hanwha Group, raising concerns in both financial and political circles. Rights offerings can dilute share value, prompting backlash from existing shareholders. To offset the reduction, Hanwha Energy—fully owned by Chairman Kim Seung-yeon’s three sons—will inject 1.3 trillion won into Hanwha Aerospace by purchasing a 4% stake through a separate third-party allocation.
‘Mickey 17’ heads to streaming after $80m box office flop
Director Bong Joon-ho’s much-anticipated film “Mickey 17″ is heading to digital platforms just one month after its North American theatrical release, with estimated losses nearing $80 million, according to U.S. media reports. Released on March 7, the film became available on Amazon Prime starting April 7. Despite being Bong’s first feature since the Oscar-winning “Parasite” (2019), “Mickey 17″ struggled at the box office. As of April 5, it had grossed $122.37 million globally, well below its $300 million break-even point. Variety estimates the film’s total losses between $75 million and $80 million.
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