Briefly

SOUTH KOREA

Seoul to restore Tokyo's trade status

South Korean President Yoon Sukyeol said on Tuesday his government will move to restore Japan's preferential trade status, as he pushes to resolve history and trade disputes with Japan despite domestic opposition. In lengthy, televised comments during a Cabinet Council meeting, Yoon defended his moves, saying that leaving ties with Japan as fraught as they are would be neglecting his duty because greater bilateral cooperation is vital to resolve diverse challenges facing Seoul. South Korea and Japan have deep economic and cultural ties and are both key US allies that together host about 80,000 US troops. But their relations have often fluctuated mainly due to issues stemming from Japan's 1910-45 colonial rule of the Korean Peninsula.

SRI LANKA

IMF approves $3b bailout for nation

The International Monetary Fund said on Monday that its executive board has approved a nearly $3 billion bailout program for Sri Lanka over four years to help salvage the country's bankrupt economy. About $333 million will be disbursed immediately and the approval will also open up financial support from other institutions, the IMF said. The approval will unlock financing of up to $7 billion from the IMF and other international multilateral financial institutions, President Ranil Wickremesinghe's office said. Wickremesinghe said he has made some tough decisions to ensure stability, debt sustainability and to grow an inclusive and internationally attractive economy.

UKRAINE

Kishida arrives in Kyiv for talks with Zelensky

Japanese Prime Minister Fumio Kishida arrived in Kyiv for a surprise visit Tuesday for talks with Ukrainian President Volodymyr Zelensky. Footage shown on Japanese national broadcaster NHK showed Kishida walking on the platform of Kyiv Central Station, escorted by a few people who appeared to be Ukrainian officials. Kishida's surprise trip to Ukraine comes just hours after he met with Indian Prime Minister Narendra Modi in New Delhi. Japan has contributed more than $7 billion to Ukraine, and accepted more than 2,000 displaced Ukrainians and helped them with housing assistance and support for jobs and education — a rare move for a country that is known for its strict immigration policy.

Agencies - Xinhua