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http://ift.tt/2sjt63S South Korean President Moon Jae-in delivers a speech at the National Assembly in Seoul on June 12, 2017.<br />Moon appealed to parliament for approval of the supplementary budget for job creation, stressing the seriousness and importance of the nation’s unemployment issue. / AFP PHOTO / POOL / Ahn Young-joon South Korean President Moon Jae-In on Monday urged parliament quickly to approve his $10-billion stimulus plan aimed at tackling youth unemployment, warning the issue could otherwise become a “national disaster”. Moon, who took power in May after the ousting of impeached president Park Geun-Hye, has proposed a 11.2-trillion won ($10 billion) extra budget aimed at tackling unemployment and strengthening welfare provisions in Asia’s fourth-largest economy. The proposal, which requires parliamentary approval, aims to help create 110,000 jobs — including 71,000 in the public sector — in response to a record-high jobless rate for the under-30s. “U...

http://ift.tt/2pB4IIF PHOTO:AFP The dollar built on the previous day’s gains on Thursday after the Federal Reserve opened the door for another US interest rate hike next month, while Seoul outperformed most other Asian markets to end at a record high. After a closely watched meeting the US central bank gave a broadly positive view of the world’s top economy and said a recent spout of soft data, including below-par first-quarter growth, were “likely to be transitory” and that activity would pick-up over the year. The Fed’s statement fanned expectations it will announce another rate lift next month — the second since December — as long as data points in the right direction. Focus now turns to the release Friday of the government’s jobs creation data for April and statements from Fed boss Janet Yellen as well as other top bank officials, which could provide some forward guidance to markets. “The Fed has doubled down on its confidence that the US economy is still on track for ...

http://ift.tt/2p0XhXG (FILES) This handout photo taken on November 1, 2015 and received by the US Department of Defense/Missile Defense Agency shows a terminal High Altitude Area Defense (THAAD) interceptor being launched from a THAAD battery located on Wake Island in the Pacific Ocean, during the Flight Test Operational (FTO)-02 Event 2a. A controversial missile defense system whose deployment has angered China is now operational in South Korea, a US defense official said May 1, 2017. Washington and Seoul agreed to the Terminal High Altitude Area Defense (THAAD) battery deployment in July in the wake of a string of North Korean missile tests. "It has reached initial intercept capability," the official told AFP on condition of anonymity./ AFP PHOTO / DoD / Ben Listerman / China called Tuesday for the immediate suspension of a controversial missile defence system hours after Washington confirmed the shield was now operational in South Korea. “China’s position is clear-cut...