Iran’s Foreign Minister Heads to Pakistan…Possible Second U.S.-Iran Talks
Iran’s Foreign Minister Abbas Araghchi is expected to visit Pakistan. While no schedule has been finalized for U.S.-Iran talks, the prospect of resumed negotiations has re-emerged.
On April 24, Reuters quoted Pakistani sources saying Araghchi is expected to arrive in Islamabad with a small delegation. The actual timetable for U.S.-Iran talks remains unconfirmed.
The Associated Press, citing two Pakistani officials, reported Araghchi could arrive as early as today and no later than this weekend.
Pakistan has acted as a mediator between the United States and Iran. Reuters said Islamabad is maintaining heightened security in case talks are held, but local confusion persists because no date has been set.
President Lee Jae-myung returned to Seoul on April 24, concluding a five-night, six-day state visit to India and Vietnam.
Air Force One, carrying the president, the first lady and their aides, landed at Seoul Airport in Seongnam, Gyeonggi Province at about 9:03 p.m.
Jeong Cheong-rae, leader of the Democratic Party, Chief Presidential Secretary Kang Hoon-sik and Senior Secretary for Political Affairs Hong Ik-pyo greeted them at the airport. Prime Minister Kim Min-seok and Interior Minister Yoon Ho-jung also met the president and the first lady.
President Lee and First Lady Kim Hye-kyung stepped off the plane and exchanged handshakes with the officials who had come to welcome them.
President Lee visited India on April 19 for a two-night, three-day state visit.
At a summit with Prime Minister Narendra Modi, the two leaders agreed to expand cooperation in strategic industries such as shipbuilding, artificial intelligence (AI) and defense. They pledged to strengthen supply-chain cooperation by creating an Industry Cooperation Committee and accelerating negotiations to improve the Comprehensive Economic Partnership Agreement (CEPA). They also agreed to continue coordinating on global issues, including developments in the Middle East.
The KOSDAQ index climbed above 1,200 to reach its highest level since 2000, driven by strength in semiconductor materials, parts and equipment and biotech stocks. The KOSPI took a breather after recently setting record highs.
According to the Korea Exchange on April 24, the KOSDAQ closed at 1,203.84, up 29.53 points (2.51%) from the previous trading day. The KOSDAQ has not closed above 1,200 since August 4, 2000—about 25 years and 8 months ago.
Gains were led by semiconductor materials, parts and equipment and biotech names. As investors took profits in large-cap semiconductor shares, buying shifted toward KOSDAQ growth stocks, widening the rally.
The KOSPI closed at 6,475.63, down 0.18 points from the previous session. It rose as high as 6,516.54 early in the session but gave back those gains and finished near flat. Profit-taking after three straight record closes and geopolitical risks in the Middle East limited further upside.
The Samsung Electronics labor union has notified authorities that it plans to hold a rally in front of Chairman Lee Jae-yong’s residence on the first day of a planned general strike. The dispute over the performance-bonus system has spilled beyond company grounds, increasing pressure on the founding family.
On April 24, the cross-company Samsung union said it filed a notice with the Yongsan Police Station in Seoul for a rally at 1:00 p.m. on May 21 in front of the chairman’s home in Hannam-dong, Yongsan-gu. The notice listed about 50 participants.
The union has announced an 18-day strike from May 21 through June 7. The event is expected to take the form of a press conference announcing the strike plan rather than a large-scale protest.
The union is demanding removal of the cap on performance bonuses and a payout equal to 15% of operating profit. The Joint Struggle Headquarters of the Samsung Electronics labor unions held a rally the day before in front of Samsung’s Pyeongtaek campus in Gyeonggi Province, urging management to accept the demands.
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