The new South Korean administration will likely make efforts to buy time for U.S. trade talks, as it studies the negotiations of Japan and China for leverage.

Opposition leader Lee Jae-myung was sworn in as South Korea’s next president on Wednesday following a dramatic snap election six months after the country’s previous leader declared martial law and plunged the nation into chaos.

The future of South Korea's export-oriented economy may hinge on what kind of deal the country's new president, Lee Jae-myung, can strike with U.S. leader Donald Trump.

South Korea's exports fell in May for the first time in four months, as shipments to the United States and China dropped on global trade conflict triggered by U.S. President Donald Trump'ssweeping tariffs.

At age 14 he was an impoverished factory worker. On Wednesday, he became the leader of one of Asia’s most powerful economies, a US ally and cultural juggernaut.

SEOUL (Reuters) -South Korea's consumer inflation slowed in May to the weakest pace in five months, government data showed on Wednesday, coming in below market expectations. The consumer price index rose 1.9% in May from a year earlier, after rising 2.1% in April, according to Statistics Korea.

South Korea's Industry Ministry said on Monday it will respond to the looming 50% U.S. tariff on steel products as part of its trade discussions with Washington in order to minimise the impact on industry.

South Korean opposition leader Lee Jae-myung is projected to be the new president following a snap election on Tuesday, according to an exit poll by Korean broadcasters, in a vote held exactly six months after the country’s previous leader declared martial law and plunged the nation into chaos.