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Posts Tagged ‘South Korea’

Report: Boeing, IAI to Sell Arrow Missile System to South Korea

Tuesday, January 31st, 2012

Boeing and Israel Aerospace Industries (IAI), partners in production of the Arrow ballistic-missile defense system, intend to sell the weapon system to South Korea, according to Defense News.

The report stated that the deal is estimated to exceed $1 billion, and would be consummated between the US and South Korean governments.

“There’s still a long way to go, but we and our Israeli partners are working very persistently to be able to provide this phenomenal capability to South Korea, an important U.S. ally,” Roger Krone, president of Boeing said recently in Tel Aviv.

Last week, Boeing and IAI announced that they were increasing collaboration on the Arrow anti-ballistic missile program and other projects in the missile defense arena.

US Appeals to South Korea to reduce Iran Oil Imports

Tuesday, January 17th, 2012

Reflecting its recent campaign to increase economic pressure on the Iranian regime, a senior US official encouraged South Korea on Tuesday to lower its oil imports from Iran.

South Korea has been a dependable ally of the US in its efforts to curb Iran’s nuclear program, but it relies on Iran for approximately 10% of its oil supplies.

South Korea has not yet responded to the US entreaty.

 

North Korean Kim Jong-il is Dead at Age 69

Monday, December 19th, 2011

Kim Jong-il, the leader of North Korea is dead at age 69. North Korean media reports that he died on December 17 while traveling on a train.
Kim Jong-un, his third oldest son is supposed to replace him as the new head of state.
Jong-un, in his late twenties, is reported to have gone to school in Switzerland while living there under a pseudonym. He is reported to be a diabetic and suffer from hypertension. His father made him a general in 2010.
In response to the news of Jong-il’s death, South Korea has put its military on high alert.

South Korea on Board with Iran Sanctions

Friday, December 16th, 2011

South Korea has joined the list of nations who will sanction Iran in the hopes of stopping its nuclear program. The International Atomic Energy Agency has recently issued a report showing proof that Iran’s nuclear ambitions are not civilian in nature as claimed by the Iranian regime.

In turn, last month Britain, Canada and the US hit Iran with new sanctions focusing on Iran’s financial, petrochemical and energy operations. Now, South Korea has added over 100 names to the already large list of Iranian firms and individuals who are sanctioned by Seoul.

However, South Korea’s new measures did not include a ban on imports of petrochemicals or crude oil. For this reason the move was seen as not broad enough for the US State Department, whose special adviser for non-proliferation, Robert Einhorn, visited Seoul last week and called on US allies to ban petrochemical imports from Iran.

For countries which have trading ties with Iran, like South Korea, that is not so easy.  South Korea imported about $333 million of petrochemicals from Iran in 2010 and exported about $466 million of petrochemicals to Iran in the same year. Iran is also a major supplier of energy to South Korea: 8.3 percent of the 870 million barrels imported in 2010 into South Korea came from Iran.

Last year South Korea did take major steps to sanction Iran by restricting new investment in Iran’s oil and gas industry and by imposing reductions in exports. But any reduction or halt in Iranian crude imports would likely disrupt the Korean economy and complicate its efforts to hold down inflation.

Printed from: http://www.jewishpress.com/news/global/south-korea-on-board-with-iran-sanctions/2011/12/16/

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