Focus on Headline 08/01/2023

1. According to the South Korean Ambassador to the U.S. Cho Hyundong, the upcoming trilateral summit between the leaders of S. Korea. U.S. and Japan at Camp David will serve as an opportunity for the leaders to have a casual meet up. The meeting will likely address a range of security and economic agenda, and whether or not the three countries will hold the trilateral summit on a regular basis.

2. South Korea's trade balance continued to stay in the black for the second straight month in July. According to data by the Industry Ministry on Tuesday, this is mainly because of rising auto exports and falling raw material prices.

3. South Korean President Yoon Suk Yeol pledged to eradicate “cartels” with vested interest in the construction industry, citing them as a reason behind poor construction practices. The pledge follows revelations that not enough reinforcing rods were used in building underground parking lots at apartment complexes nationwide.