Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

North Korea says U.S. is setting up Asian NATO; vows stronger defence

2022 06 27T061344Z 2 LYNXMPEI5Q06C RTROPTP 4 NORTHKOREA MISSILES SOUTHKOREA USA - Global Banking | Finance

By Hyonhee Shin

SEOUL (Reuters) – North Korea has accused the United States of setting up a military alliance like NATO in Asia, saying the unwavering U.S. aim to oust North Korea’s government compelled it to develop stronger defences.

The North Korean criticism comes amid concern it could be preparing its first nuclear test in five years and after a recent agreement between South Korean President Yoon Suk-yeol and U.S. President Joe Biden to deploy more U.S. weapons if deemed necessary to deter the North.

“While blatantly holding joint military exercises with Japan and South Korea, the United States is making a full-fledged move to establish an Asia-style NATO,” North Korea’s foreign ministry said in a statement on its website on Sunday.

It was referring to recent military exercises conducted by U.S., South Korean and Japanese forces. The United States also held exercises with South Korean forces that involved a U.S. aircraft carrier, for the first time in more than four years.

North Korea, which has been conducting regular missile tests this year, repeated its assertion that such drills were preparation for war aimed at overthrowing it.

“This proves the hypocrisy of the U.S. rhetoric of ‘diplomatic engagement’ and ‘dialogue without preconditions’, while at the same time revealing again that there is no change in the U.S. ambition to overthrow our system by force,” the North Korean ministry said.

It did not refer explicitly to its nuclear or missile programmes but said U.S. hostility compelled it to develop its defences.

“The reality … makes us feel the need to make all-out efforts to develop even stronger power to be able to subdue all kinds of hostile acts by the United States,” it said.

The United States is insisting that North Korea give up its nuclear weapons and has repeatedly offered to meet North Korean officials “at any time without preconditions” to discuss the issue. North Korea has rebuffed the offers.

The North Korean criticism came a day before South Korea’s president left to attend a NATO summit in Spain, the first South Korean leader to do so.

South Korea, aiming to strengthen its partnership with NATO and play a bigger global security role, plans to set up a delegation to NATO at its Brussels headquarters, South Korea’s national security adviser said last week.

(Reporting by Hyonhee Shin; Editing by Robert Birsel)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post