With Donald Trump cruising to a rematch with United States President Joe Biden in the presidential election in November, the world, including South Korea, is preparing for a possible second Trump presidency, which is anticipated to force many countries to recalibrate their diplomatic strategies.
The United States will work closely with Korea to prepare for talks on the allies next defense-cost sharing deal, a State Department spokesperson said Wednesday, noting no decisions have been made on any specifics yet.
CEOs of the country’s major banking groups, both active and retired, are drawing attention as potential candidates to next lead the Korea Federation of Banks (KFB), a lobby group representing lenders, according to industry sources, Tuesday.
Contrary to recent South Korean media reports, negotiations seeking a military cost-sharing agreement between Washington and Seoul remain deadlocked. The festering dispute risks straining the important U.S.–South Korean alliance and sets a negative precedent for similar negotiations with Japan later this year. At the heart of the dispute is President Trump’s demand for an exorbitant increase in allied contributions for the cost of stationing U.S. forces overseas.
The Industrial Bank of Korea (IBK) is set to appoint a new leader from within its ranks rather than parachuting in an outside figure, amid growing criticism over the government s long-held custom of nominating bureaucrats for the position. According to sources from the financial industry here, IBK Deputy CEO Kim Seong-tae is widely expected to replace outgoing CEO Yoon Jong-won when his term ends on Jan. 2.