South Korea

Yonhap | English | News | Jan. 19, 2026 | North Korea

North Korean leader Kim Jong-un sent a New Year's message to Chinese President Xi Jinping, as reported by North Korea's state media on January 18, 2026. The message was mentioned without any detailed content, reflecting a restrained approach amid Pyongyang's growing ties with Moscow. Kim also sent New Year's greetings to leaders of Vietnam, Singapore, Tajikistan, and Azerbaijan. The report referred to Xi by his title and mentioned his wife without naming her.

Earlier in January, North Korean media had reported that Xi and his wife sent a New Year's message to Kim, again without providing specific details. This cautious and minimal coverage of the exchanges with China contrasts sharply with Pyongyang's portrayal of its relationship with Russia.

In December 2025, North Korean media published detailed accounts of letters exchanged between Kim and Russian President Vladimir Putin. Kim described the relationship with Russia as a "precious common asset," while Putin praised North Korea's "heroic" deployment of troops in Russia’s war in Ukraine. The report underscores Pyongyang's overt support for Moscow, as reflected in extensive media coverage and diplomatic gestures compared to its muted communications with Beijing.

정용진 회장도 참여한 '록브리지'...美 창립자 "한국 역할이 중요"

Hankyung | Local Language | News | Jan. 19, 2026 | UndeterminedBizdev-Partnering

Christopher Buskirk, co-founder of the Rokbridge Network and 1789 Capital, visited Korea from January 13 to 15, 2026, meeting with Rokbridge Korea officials and key figures in Korean political and economic sectors. Rokbridge Network, a significant political organization in the U.S., was founded by Buskirk and Vice President J.D. Vance. It launched in Korea as a policy think tank in November 2025, aiming to strengthen Korea-U.S. relations and address international affairs. Buskirk emphasized the importance of alliances like Korea for America's renewed global leadership under the Trump administration and highlighted Rokbridge's role in this process.

Jeong Yong-jin, chairman of Shinsegae Group and Asia chairman of Rokbridge, along with other prominent figures such as former Prime Minister Kim Boo-kyum and former Minister of Planning and Finance Park Jae-wan, participate in the Rokbridge Korea board. Buskirk officially joined the Rokbridge Korea board during his visit. The organization focuses on domestic and international policy issues, based on Korea-U.S. cooperation, and aims to be a platform for advancing Korea’s national interests beyond political divides.

Rokbridge Korea board members highlighted challenges facing Korea, including population decline, industrial competitiveness, shifts in the international order, and democratic crises. They emphasized the necessity of cooperation with allies like the U.S. and Japan to navigate these complex issues. Despite difficulties faced by policy think tanks in Korea, Rokbridge Korea intends to address broad social and political challenges through strategic engagement and collaboration.

Yonhap | English | News | Jan. 19, 2026 | Regulation

South Korea's major commercial banks are collaborating with government foreign exchange authorities to address the recent weakening of the won. Measures include offering incentives for customers to sell U.S. dollars and reducing interest rates on foreign-currency deposits. Despite these efforts and verbal interventions, the won has hovered near 1,450 per dollar, with the rate at 1,473.6 per dollar as of Friday, pressured by a strong U.S. dollar, geopolitical risks, and robust overseas equity investments by local investors.

Authorities have urged banks to actively stabilize the foreign exchange market. The Financial Supervisory Service (FSS) plans to meet with major banks to discourage aggressive marketing of U.S. dollar and foreign currency deposits. The Bank of Korea recently reviewed foreign currency deposit reserve requirements and related interest rates with local banks and announced a temporary plan to pay interest on foreign currency reserves to enhance domestic dollar liquidity and support the won.

Banks, such as KB Kookmin and Woori, have introduced promotional events encouraging currency conversion to the won and lowered interest rates on dollar deposits to discourage holding foreign currency. Regulators are also focusing on insurers, as sales of dollar-denominated insurance products have surged, contributing to speculation and pressure on the won. The FSS, led by Governor Lee Chan-jin, has ordered financial firms to curb excessive marketing of such products and plans to review insurers' internal controls and conduct inspections if necessary.