Asia
Lee Jae-myung inaugurated as South Korea’s new president, vows unity and economic revival

South Korea’s new President Lee Jae-myung pledged to “build a new country of hope” as he was sworn into office at the National Assembly on Wednesday, following his victory in the elections.
Lee, from the Democratic Party (DP), addressed the South Korean people in his inaugural speech in Seoul, saying, “Regardless of whom you supported in this election, I will be a president who embraces everyone and serves all citizens.”
Before the ceremony, Lee Jae-myung visited the Seoul National Cemetery to pay tribute to Korean soldiers who died in wars.
Lee, who officially began his five-year term, acknowledged that Asia’s fourth-largest economy faces an “intertwined network of crises in diplomacy, national security, and democracy.”
He promised to fundamentally change the outdated economic development model, which he blamed for fueling inequality and hindering growth. He said he would address the urgent economic problems facing the country by focusing on cost-of-living issues affecting middle- and low-income families and the struggles of small business owners.
He emphasized that they would revive growth by adopting a pragmatic and market-oriented approach to the economy and strengthen advanced technologies.
South Korea’s economy is under pressure due to Donald Trump’s aggressive trade policies and intense competition from Chinese exporters. It is also approaching the July deadline set by the White House for negotiations on import tariffs, which Washington cites as the cause of the large trade imbalance between the two countries.
Message of dialogue with North Korea
In foreign policy, Lee Jae-myung reiterated his pre-election promise to communicate with North Korea, saying, “We will keep communication channels open with the North and achieve peace on the Korean peninsula through dialogue and cooperation.”
“It is better to win without fighting than to win through conflict, and the most reliable security is peace that makes war unnecessary,” he added. However, he also pledged to respond to possible “nuclear and military provocations.”
Lee reaffirmed South Korea’s commitment to its alliance with the US, stating they would enhance trilateral cooperation involving Japan and pursue a practical and national interest-based approach in relations with neighboring countries. Lee described his conservative predecessor’s foreign policy towards China and Russia as “unnecessarily hostile.”
White House concerned
Lee is expected to pursue “pragmatic diplomacy” with Beijing while negotiating an agreement on tariffs with the US president, at a time of intensified competition between the US and China.
US Senator Marco Rubio congratulated Lee on his election victory and said the two countries “share an unwavering commitment to an alliance based on a mutual defense treaty, shared values, and deep economic ties.” He also stated that the two countries are “modernizing the alliance to meet the demands of today’s strategic environment and address new economic challenges.”
The White House stated that Lee’s election was “free and fair” but that the US is concerned about and opposes China’s interference and influence in democracies worldwide.
Early election
The country is navigating a prolonged political crisis triggered in December by then-President Yoon Suk Yeol’s brief declaration of martial law. An early election was called after Yoon was impeached by a court decision.
The National Election Commission announced this morning, following its meeting, that Lee won yesterday’s presidential election. According to official results, Lee won 49.42% of the votes, while Kim Moon-soo, the candidate of the ruling People Power Party (PPP), received 41.15%. Voter turnout reached 79.4%, the highest level in 20 years.
Lee’s victory has shifted both the presidency and control of the National Assembly from conservatives to liberal parties after several years of divided government.
The Bank of Korea last week lowered its growth forecast for this year from 1.5% to 0.8%, following a slight contraction in the economy in the first quarter due to a sharp slowdown in exports. South Korea’s benchmark Kospi stock index rose over 2.4% in morning trading. Investors anticipate that Lee will introduce governance reforms to increase the power of minority shareholders and reduce the influence of families controlling the country’s largest industrial groups.
From mayor to president
Lee, a 61-year-old former human rights lawyer, described Tuesday’s election as a “judgment day” against Yoon’s martial law and the People Power Party’s failure to stop this unfortunate move.
Lee began his political career in 2010 when he was elected Mayor of Seongnam, where he gained attention for his social welfare projects. He served as Governor of Gyeonggi Province from 2018 to 2021 and was noted for his effective measures against the COVID-19 pandemic. He narrowly lost the 2022 presidential election to Yoon Suk Yeol.
In 2024, he survived an assassination attempt and, in the same year, played an active role in the resistance against Yoon’s declaration of martial law.
Lee has also faced past accusations of making false statements during his election campaign, and legal proceedings on this matter are ongoing. However, according to the South Korean constitution, a sitting president cannot be prosecuted, so the cases have been postponed.
Lee Jae-myung’s presidency could herald significant changes for South Korea in both domestic and foreign policy.
Asia
Chinese navy chief and top nuclear scientist expelled from legislature

The chief of staff for the People’s Liberation Army (PLA) Navy, Vice Admiral Li Hanjun, and Liu Shipeng, the deputy chief engineer of the state-owned China National Nuclear Corporation, were removed from their positions in the country’s legislative body.
Li is the latest in a series of PLA generals and a handful of defense industry executives implicated in a widespread investigation within the military.
In a statement on Friday, the NPC Standing Committee announced, “The Navy Soldiers’ Congress has decided to remove Li Hanjun from his post as a representative to the 14th National People’s Congress.”
The Gansu People’s Congress also dismissed Liu Shipeng from his role as an NPC deputy.
Additionally, the Standing Committee revealed it had voted to remove Miao Hua, a former top general who previously oversaw the PLA’s ideological work, from the Central Military Commission (CMC), China’s highest military command body led by President Xi Jinping.
The removal of Li and Liu from their NPC memberships suggests they are facing serious disciplinary action.
China typically remains silent about purges within the military, and announcements from the NPC are one of the few indicators of such campaigns.
There is little public information available about Li and Liu, as both have worked in sensitive positions.
Before becoming the navy’s chief of staff, Li, 60, was the deputy director of the CMC’s Training and Administration Department. He was appointed to this role after serving for a year in the CMC’s Office for Reform and Organisational Structure.
In 2014, he was promoted to vice admiral upon his appointment as commander of the naval base in Fujian province, where Miao also spent a significant part of his career. At that time, he was the director of training at the China Naval Command College and was soon promoted to president of the school.
According to official media reports, nuclear scientist Liu was born into a family that “served China’s nuclear dream for three generations.”
As the deputy chief engineer at CNNC, which oversees all aspects of China’s civil and military nuclear programs, Liu also served as the Communist Party secretary and president of CNNC’s “404 base” in Gansu.
Covering an area of over 1,000 square kilometers, the base was established in 1958 and is the country’s first and largest nuclear research center. It played a crucial role in the development of China’s first atomic bomb in 1964 and its first hydrogen bomb three years later.
This secretive base is still considered a key hub for China’s nuclear deterrence and nuclear industry.
According to statements from provincial authorities, Liu was named “Gansu’s outstanding entrepreneur” in 2023.
Asia
China, US reach agreement on export controls

The Chinese Ministry of Commerce announced on Friday afternoon that Beijing and Washington have remained in close contact since the two-day trade talks in London earlier this month, confirming the details of a framework agreement.
“China will review and approve export applications for controlled items in accordance with its laws and regulations, and the US side will, in turn, lift a series of restrictive measures against China,” the ministry stated.
“We hope the US side will cooperate with China in line with the important consensus and conditions established during the conversation between the two presidents on June 5,” the statement continued.
On Thursday, US President Donald Trump said the US had “signed” a trade deal with China the previous day, without providing details.
“We signed the deal with China yesterday, right? We signed the deal with China,” Trump said at a White House event introducing a budget law. “With the China deal, we are starting to open up China,” he added.
He also mentioned that a “very big” deal, likely with India, would be signed soon.
Rare earth elements
Following the event, US Commerce Secretary Howard Lutnick told reporters that the US and China had signed an agreement codifying the terms decided upon in previous trade negotiations.
“They will deliver rare earth elements to us,” Lutnick said in a televised interview with Bloomberg, adding that if this commitment is fulfilled, Washington will lift its “countermeasures.”
Rare earth elements, essential for producing high-tech products, including those for the defense industry, were a major point of contention in the trade talks. China holds a near-monopoly on the supply of these minerals due to its massive share of global refining capacity.
Responding to a question on Thursday about rare earth exports, ministry spokesman He Yadong said China had approved a “certain number” of applications and would “continue to strengthen” the review and approval process for eligible applications.
He added that Beijing is willing to “strengthen communication and dialogue” with other countries on export controls and actively promote appropriate trade.
Lutnick also stated that the US plans to reach agreements with 10 major trading partners in the coming weeks. The deadline for countries to negotiate trade terms before higher tariffs are reinstated was July 9, following a 90-day suspension of import tariff hikes announced on April 2.
The two negotiating teams concluded the London talks by announcing they had agreed “in principle” on a “framework” that both sides would take home for their respective leaders to review, as they sought to get their uneasy truce, signed last month in Geneva, back on track.
The negotiations began after a highly anticipated phone call between Xi Jinping and Trump, which seemingly ended an intractable stalemate.
In the weeks following the initial agreement in Switzerland, Washington claimed China was restricting exports of critical minerals, while Beijing reacted to US restrictions on semiconductors and threats to impose visa barriers on Chinese students.
Asia
China hosts SCO defense ministers on warship amid regional tensions

Chinese Defense Minister Dong Jun hosted his Iranian counterpart and other high-level defense officials from Shanghai Cooperation Organisation (SCO) member states aboard an advanced Chinese warship, just days after the US bombed Iran’s nuclear facilities.
Iranian Defense Minister Aziz Nasirzadeh was among the defense officials welcomed by Dong on a military vessel in the coastal city of Qingdao, China, as part of a two-day SCO defense ministers’ meeting that concluded on Thursday.
According to Chinese state television CCTV, Nasirzadeh and other defense officials toured the People’s Liberation Army (PLA) Navy’s Type 052D destroyer, the Kaifeng, and later attended a reception on the ship’s deck.
Aboard the ship, Nasirzadeh thanked Beijing for “supporting Iran’s legitimate position following the recent attacks” by Israel and the US.
“We hope that China will continue to stand on the side of justice, help maintain the current ceasefire, and play a greater role in de-escalating regional tensions,” Nasirzadeh said, according to Xinhua.
In his address to the assembled ministers, Dong reportedly stated that “unilateralism, protectionism, and hegemonic and bullying acts are on the rise, seriously disrupting the international order and becoming the greatest source of chaos and conflict.”
Dong called for closer cooperation within the United Nations, the SCO, and other multilateral frameworks, urging members to unite with “more like-minded forces” to defend international justice and maintain global stability.
“SCO countries must remain true to the organization’s founding ideals, uphold the ‘Shanghai Spirit,’ and deepen practical cooperation in all areas,” Dong said. “With stronger actions, we can jointly safeguard a peaceful environment for development,” he added.
The event followed the US attacks on three of Iran’s key nuclear facilities on Saturday, which Beijing strongly condemned.
The Chinese Foreign Ministry stated that the attacks on nuclear facilities under the supervision of the International Atomic Energy Agency seriously violated the UN Charter and its principles.
Additionally, the SCO meeting coincided with a NATO leaders’ summit in The Hague. In a statement from The Hague, US President Donald Trump announced that the US would hold talks with Iran about a possible nuclear deal “in the coming week.”
Bilateral Talks
According to Xinhua, the Chinese defense minister later held separate bilateral meetings with the defense ministers of Belarus, Pakistan, Kyrgyzstan, and Russia. The state news agency reported that all parties appreciated Beijing’s efforts and significant contributions to developing SCO operational mechanisms and deepening inter-sectoral cooperation during its rotating presidency. They also expressed a strong will to further consolidate and expand military ties.
Pakistani Defense Minister Khawaja Asif praised Beijing’s role in de-escalating tensions. “Pakistan highly values its robust friendship with China and is ready to work together to implement its three global initiatives, deepen military cooperation, and help maintain regional peace and stability,” he said.
For Russian Defense Minister Andrei Belousov, this year—the 80th anniversary of the victory in World War II, the Chinese people’s war of resistance against Japanese aggression, and the world’s anti-fascist war—presents an opportunity to deepen bilateral military relations. “In line with the consensus of our leaders, we will intensify strategic communication and cooperation and contribute to global strategic stability,” he said.
Meanwhile, Indian Defense Minister Rajnath Singh also attended the Qingdao meeting. This marked the first visit by an Indian defense minister to China since the deadly border clash between the two countries in 2020.
Military trust
According to the Chinese Ministry of Defense, the SCO defense ministers’ meeting is one of the key events held during China’s rotating presidency of the SCO this year. The ministers, along with representatives from the SCO and regional anti-terrorism bodies, gathered to further strengthen military trust and deepen practical cooperation among member states.
The SCO, a 10-nation bloc comprising China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Pakistan, India, Iran, and Belarus, currently covers approximately three-fifths of the Eurasian continent and about 43% of the world’s population.
The Beijing meeting, held under the rotating presidency of the Shanghai Cooperation Organisation, highlighted China’s role as a significant international actor and the importance Tehran places on its relationship with Beijing, even as China has largely remained on the sidelines of the Israel-Iran conflict.
During a regular press conference at the Chinese Ministry of Defense on Thursday, when asked if Beijing was considering providing military support to Iran as an SCO member, ministry spokesman Zhang Xiaogang told CNN, “China is ready to cooperate with all parties to play a constructive role in maintaining peace and stability in the Middle East.”
Kaifeng destroyer
The Kaifeng destroyer, where the meeting’s reception was held, is the sixth vessel of the extended Type 052D variant and serves in the North Sea Fleet. Commissioned in April 2021, the ship is approximately 159 meters (521 feet) long, weighs 7,500 tons, and is equipped with 517C anti-stealth radar. Its expanded deck allows for the landing of the PLA Navy’s Z-20 helicopters.
The warship has conducted numerous long-range exercises, including a passage through the Tsushima Strait in April, as part of Beijing’s growing operational presence in the western Pacific.
It was publicly displayed during the 74th-anniversary celebrations of the Chinese navy in Qingdao in 2023.
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