Foreign

• France and Germany are seeking a radical reorganization of the EU's foreign policy service to better address current geopolitical challenges. • Proposed changes include limiting the powers of EU diplomacy chief Kaja Kallas and her department, potentially returning those authorities to the European Commission. • Simultaneously, a financial dispute has emerged as Poland demands the return of approximately 450 million euros spent on military aid for Ukraine.

Former Labor foreign affairs minister says belief US would defend Australia in event of an existential attack is a ‘ludicrous delusion’Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAukus will prove to be one of the worst defence and foreign policy decisions ever made by an Australian government and is only being permitted by Donald Trump in order to destroy Chinese nuclear threats to the US mainland, former foreign affairs minister Gareth Evans says.Giving evidence to an independent public inquiry into the $368bn nuclear agreement with the US and UK on Thursday, Evans, a cabinet minister in the Hawke and Keating governments, will warn the transfer and construction of submarines to Australia from the early 2030s is effectively only an extension of the American military fleet. Continue reading...

• India is shifting its technological focus from a long-standing dominance in software exports and IT services toward the hardware and electronics manufacturing sector. • While the country previously built its global identity on code and back-office operations, there is now a significant surge in foreign investment targeting components and fabrication. • This transition matters as India seeks to diversify its industrial capabilities and reduce reliance on imported hardware to become a global manufacturing hub.

• Foreign news outlets are framing South Korea's upcoming local elections as a critical litmus test for President Lee Jae Myung's first year in office. • The vote is viewed as a primary measure of public support for Lee's administration and a gauge of the conservative opposition's ability to recover. • This political contest follows significant turmoil triggered by former President Yoon Suk Yeol's declaration of martial law.

• Major foreign media outlets from the United States and Japan are closely monitoring South Korea's nationwide local and National Assembly elections held on June 3. • Most international reports predict a victory for the ruling Democratic Party, citing current polling and political momentum. • Nikkei highlighted a potential risk for the ruling party, noting that South Korean elections often experience sharp shifts in balance due to last-minute variables or opposition supporter consolidation.

• Foreign investors' net equity holdings in India have plummeted to their lowest levels since 2016. • This decline is driven by global capital shifting toward AI, semiconductors, and tech-led growth in markets such as Taiwan and South Korea. • The trend is further exacerbated by slowing corporate earnings and macroeconomic pressures linked to oil prices, leading to muted Foreign Portfolio Investment (FPI) flows.

• South Korea experienced a significant tourism boom in April, with Seoul alone welcoming over 1.5 million foreign visitors. • China emerged as the primary driver of this surge, leading other major contributing markets including the United States, Japan, Taiwan, and the Philippines. • The influx of tourists resulted in a massive economic boost, with total visitor spending soaring to 1.15 trillion won.

Revelations appear in second tranche of released files about Mandelson’s appointment as US ambassadorPeter Mandelson was receiving sensitive security briefings about the Foreign Office’s work, and was in discussions with the head of MI6, before he had completed the developed vetting process, newly released documents reveal.Declassified emails show the ambassador designate and Richard Moore, the former chief of MI6 – a role known as “C” – had agreed to meet in early January 2025 before Mandelson went to Washington. Continue reading...

• Kenyan Deputy President Rigathi Gachagua (Mudavadi) has arrived in Seoul to participate in a summit featuring foreign ministers from 54 African states and four regional organizations. • The meeting focuses on strengthening ties, highlighting South Korea's significant Official Development Assistance (ODA) and increasing investments in Kenya's manufacturing, industry, and infrastructure sectors. • Economic cooperation is expected to accelerate following the recent establishment of Korea Exim Bank offices in Nairobi to facilitate financing.

Þorgerður Katrín Gunnarsdóttir accuses opponents of fearmongering amid warnings over misinformation and AIIceland’s foreign minister has said she fears her country faces a “Brexit moment” in its looming EU referendum amid warnings over misinformation, foreign interference and AI.With just over three months to go until Iceland votes on whether or not to continue accession talks with the EU, developments are being closely watched by Washington, Moscow and Brussels. Continue reading...