https://www.scmp.com/rss/524211/feed The latest news and top stories on Kim Yong-beom, Chief Policy Officer in South Korea's Presidential Office. He is a seasoned economic bureaucrat with extensive experience in financial policy and crisis management. Formerly First Vice Minister at the Ministry of Economy and Finance and Vice Chairman of the Financial Services Commission, he played a key role in navigating economic challenges, including the COVID-19 pandemic response. His expertise extends to digital finance and virtual assets,... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Park Chan-kyong Park Chan-kyong For the first time in over three decades, South Korea is doing something it hoped it would never do again: telling the market what it can charge for fuel. President Lee Jae Myung’s order is more than a mere policy reversal, however. For a country that imports nearly every barrel it consumes, it is an act of pre-emptive self-defence – the reflex of an economy watching the Middle East burn and knowing exactly what that means. Fuel prices have already surpassed 1,900 won (US$1.28) per litre at some... https://www.scmp.com/week-asia/economics/article/3345985/south-korea-enacts-historic-fuel-price-cap-fight-iran-oil-shock?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3345985/south-korea-enacts-historic-fuel-price-cap-fight-iran-oil-shock?utm_source=rss_feed Tue, 10 Mar 2026 00:00:15 +0000 Park Chan-kyong Park Chan-kyong South Korea and the United States reached a comprehensive trade deal on Wednesday, ranging from tariffs and investment to shipbuilding, at the summit in Gyeongju between President Lee Jae-myung and his American counterpart, Donald Trump. “We reached a deal. We did a lot of different things. Great session,” Trump said. The two countries agreed to maintain tariffs at 15 per cent following a preliminary deal reached earlier this year, Chief Presidential Secretary for Policy Kim Yong-beom told... https://www.scmp.com/week-asia/economics/article/3330803/south-korea-us-reach-trade-deal-trump-lee-summit-tariffs-investment?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3330803/south-korea-us-reach-trade-deal-trump-lee-summit-tariffs-investment?utm_source=rss_feed Wed, 29 Oct 2025 13:00:30 +0000 Park Chan-kyong Park Chan-kyong South Korea is digging in as negotiations stall over a US demand for a staggering US$350 billion in direct investments, a condition that critics warn could plunge Seoul into a financial crisis. President Lee Jae-myung indirectly criticised Washington’s pressure tactics at a meeting with US Treasury Secretary Scott Bessent in New York on Wednesday. Stressing that any agreement should make sense commercially, Lee warned against forcing Seoul into a deal that could destabilise its economy. Kim... https://www.scmp.com/week-asia/politics/article/3326784/south-korea-resists-trumps-us350-billion-trade-demand-amid-financial-crisis-fears?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3326784/south-korea-resists-trumps-us350-billion-trade-demand-amid-financial-crisis-fears?utm_source=rss_feed Thu, 25 Sep 2025 05:11:52 +0000