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S.Korean ruling party leadership to resign en masse after election loss

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The leadership of South Korea’s ruling Democratic Party (DP) decided to resign en masse on Thursday following its loss in this week’s presidential election.

DP Chairman Song Young-gil announced the decision following a meeting of the party’s supreme council after Lee Jae-myung, the party’s presidential candidate, was defeated by Yoon Suk-yeol of the main opposition People Power Party (PPP) in Wednesday’s election, reports Yonhap News agency.

“We respect the people’s decision shown through the votes and humbly accept the results,” Song said at a press conference at the National Assembly.

“I plan to resign by holding myself responsible for the election loss,” he added.

The party will operate under an emergency steering committee, which will be lead by DP floor leader Yun Ho-jung. The party is reviewing on electing a new floor leader before March 25.

With all the votes counted, the PPP’s Yoon received 48.56 per cent of the vote and the DP’s Lee got 47.83 per cent in Wednesday’s election, according to the National Election Commission.

The 0.73 percentage-point gap makes this year’s election the closest ever.

International News

India-New Zealand ‘Waka’ set to embark on new journey: PM Modi

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Auckland, July 11: Prime Minister Narendra Modi on Saturday said that the India-New Zealand relationship is built on cherished memories, enduring friendship, shared values and a common commitment.

Addressing a grand Indian diaspora event in Auckland titled ‘Kia Ora Modi’ alongside his New Zealand counterpart, Christopher Luxon, PM Modi highlighted that he has brought with him the best wishes of 140 crore Indians and that it is his “great fortune” to become the first Indian PM in 40 years to visit New Zealand.

“Friends, in the relationship between India and New Zealand, there are memories, there is friendship, there are values, and there is also a commitment. One beautiful New Zealand tradition defines this relationship perfectly – it is the word ‘waka’ (Māori canoe) which binds this relationship… Waka is not merely a boat. It is a symbol of shared journey, a symbol of our shared relationship. This waka is set to take a new journey today and a sea of opportunities lies ahead of us, the wind and waves are backing us,” said PM Modi to a huge applause from thousands of people gathered at the venue.

PM Modi went on to add that he has complete faith in the success of this journey.

“Not because of Modi, but because you all are its true navigators,” he stated.

The venue echoed with chants of “Modi, Modi” and “Bharat Mata Ki Jai” as Prime Minister Modi continued his address.

“From Auckland to Wellington, Christchurch to Queenstown, the Indian community spread across every corner of New Zealand is a vital part of this shared journey. I would like to specially acknowledge my friend Prime Minister Christopher Luxon, all the colleagues from the New Zealand government, and the members of the Labour Party present here. This demonstrates the immense bipartisan support that exists for India-New Zealand relations. It also highlights the magnitude of the achievements and contributions of the Kiwi-Indian community,” reflected PM Modi.

Earlier, artists presented a series of cultural dance performances and folk music to welcome the Indian Prime Minister, adding to the celebratory mood and showcasing India’s rich cultural heritage before the assembled audience.

Holding Indian Tricolour and New Zealand flags, enthusiastic members of the diaspora eagerly waited to catch a glimpse of Prime Minister Modi.

Many raised their mobile phones to capture the memorable moment, contributing to the lively and energetic atmosphere throughout the venue.

The event reflected the strong people-to-people ties between India and New Zealand, with the large turnout underscoring the excitement among the Indian community over the Prime Minister’s visit.

During the programme, Prime Minister Modi and Prime Minister Christopher Luxon were also presented with commemorative jerseys bearing their names and the number “100”, marking a special moment during the celebrations.

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Business

PM Modi invites New Zealand investors to partner India in key sectors

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Auckland, July 11: Prime Minister Narendra Modi on Saturday invited New Zealand investors and business houses to partner India in infrastructure development, civil aviation, logistics, clean energy, urban mobility, water management, waste management and digital economy sectors.

Hailing India’s vibrant startup ecosystem, PM Modi called for closer engagement between the private sectors of both countries in the fields of innovation, fintech and emerging technologies.

Addressing a select group of CEOs and business leaders, PM Modi noted that New Zealand’s strengths in dairy science, horticulture, and forestry, and India’s consumer market, food parks and agri-tech talent should come together to create global food value chains.

The Prime Minister encouraged businesses to expand investment and commercial partnerships and help realise the target of doubling bilateral trade to 7 billion New Zealand dollars (approximately Rs 35,000 crore) by 2030.

PM Modi emphasised that India-New Zealand economic partnership could become a model for inclusive and sustainable trade and a platform for innovation and prosperity.

In the presence of New Zealand Prime Minister Christopher Luxon at the event, PM Modi said India and New Zealand are bound by shared democratic values, respect for the rule of law, diversity, and a common commitment to sustainable development, providing a strong foundation for an ambitious and forward-looking economic partnership.

He described the India-New Zealand Free Trade Agreement (FTA) as a landmark deal that would add depth and dynamism to the bilateral economic ties, and open new opportunities for market access, investment, services, technology and talent mobility.

According to an official statement, PM Modi also underscored that India’s sustained high growth coupled with young and skilled workforce, expanding middle class, digital revolution, next-generation infrastructure push, and continuing economic reforms, offer significant opportunities for trade, investment, and innovation for companies in New Zealand.

The Prime Minister noted that political stability and sustained growth path has positioned India as a significant contributor to global growth.

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International News

Iranian FM discusses regional developments with foreign officials over phone amid renewed US strikes

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Tehran, July 10: Iranian Foreign Minister Seyed Abbas Araghchi discussed the latest regional developments with his Omani and Turkish counterparts as well as Pakistan’s army chief in separate phone calls following renewed US strikes on Iran, the Iranian Foreign Ministry said.

In phone calls with Omani Foreign Minister Sayyid Badr bin Hamad Al Busaidi and Turkish Foreign Minister Hakan Fidan, Araghchi discussed the recent developments in the Strait of Hormuz and other issues of common concern, read a ministry statement.

They stressed the importance of pursuing diplomacy and maintaining contacts and coordination to address regional issues and prevent further escalation, the statement said.

In the phone call with Pakistan’s Chief of Army Staff Asim Munir, Araghchi strongly condemned the recent US attacks on Iran, calling them flagrant violations of the UN Charter and the recently signed Iran-US peace memorandum of understanding (MoU), read another ministry statement.

Araghchi warned against any “adventurism” by the US military, reaffirming Iran’s determination to defend its territorial integrity, sovereignty and national security, it said.

The United States said its forces carried out strikes on multiple targets inside Iran on Wednesday and Thursday in response to Iran’s latest attacks on commercial vessels transiting the Strait of Hormuz, saying the operation was intended to degrade Iran’s ability to threaten commercial shipping in the strategic waterway.

Iranian authorities said Thursday that the US overnight strikes killed 14 people and injured 78 others, and damaged a bridge and a railway.

In retaliation, Iran’s Islamic Revolution Guard Corps and the army said they launched missile and drone strikes on US military bases and facilities in Kuwait, Bahrain, Qatar and Jordan.

The latest escalation came as Iran and the United States are engaged in a 60-day negotiating process under the MoU aimed at reaching a final agreement.

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