Welcome to Weekly News Highlights where we wrap up your week with a glimpse back into what went on over the past week.
I'm Kim Dami in Seoul.

As conflict in the Middle East conflict between Israel and Hamas continues.
U.S. President Joe Biden stood in solidarity with Israel during his visit to the country on Wednesday.

The leaders of China and Russia bonded and showed off their friendship in their first sitdown in seven months this time on the margins of China's third Belt and Road Forum in China while leaving no official joint comment on the war in the Middle East.

One of Northeast Asia's biggest aerospace and defense exhibitions, Seoul ADEX 2023, took place this week on its largest-ever scale as part of efforts by South Korea to leap forward to become a leading global arms exporter.

Russia's Vladimir Putin headed to Beijing this week for summit talks with China's Xi Jinping on the sideline of the third Road and Belt Forum.
Calling each other close friends, the two affirmed their unity on close diplomatic and economic cooperation.
But there was no official comment on war in the Middle East.

U.S. President Joe Biden made a whirlwind trip to Israel to stress his country's support for and solidarity with Israel.
His visit also came with the announcement that Israel is letting food and other essentials enter Gaza, for civilians.
Park Kun-woo tells us more.


And the possibility of the fight being expanded to other regions --further out from the Gaza area --cannot be ruled out.
In fact, violence in Israel's West Bank is becoming intense so brutal that the battles there could become a spillover to what's already happening in Gaza.
The West Bank, Palestinian-governed since the Israel-Palestine peace accord, is also home to Jews, who make up 20 percent of the West Bank population.
That's something Israel needs to be mindful of when deploying troops there.
Already, attacks and fighting in the territory have left dozens of people dead.
Tensions in Gaza are reaching their peak every day, bleeding into the West Bank and turning the Israel-Hamas conflict regional.

And there may be a link between North Korea and conflict in the Middle East according to South Korea's military authorities.
It appears that the weapons and tactics used by the Palestinian militant group Hamas came from the regime.
Our defense correspondent Choi Min-jung has this report.

And more evidence of an apparent arms deal between Moscow and Pyongyang.
According to the Washington Post earlier on Monday, new satellite images show that Russian ships have traveled back and forth from North Korea to a Russian military port on multiple occasions over the past two months.
This is in line with comments from the White House last week that the North shipped more than a thousand containers of weapons to Russia.
Following the news, during a meeting in Jakarta with top nuclear envoys of the U.S. and Japan, South Korea's nuclear envoy Kim Gunn warned that both North Korea and Russia will pay a price for any military deal, calling such actions a clear violation of the UN Security Council resolutions.


And this week, the United States further curbed China's technological advancement by tightening China's access to AI chips.
A new set of rules was announced to update and strengthen restrictions on the export of advanced computer chips to China.
Lee Seung-jae has more.

South Korea's central bank again held its key interest rate steady at 3.5% on Thursday for the sixth time in a row.
According to the Bank of Korea, uncertainty over inflation and economic growth increased due to prolonged monetary tightening in major countries and rising geopolitical risks including the Israel-Hamas conflict.
Experts say while a two percentage point gap with the U.S. Fed may put pressure on the BOK, experts say the central bank will likely begin a rate-cutting cycle in the second quarter of next year at the earliest.

Meanwhile, international credit rating agency Fitch Ratings has maintained South Korea's long-term foreign currency issuer default rating at the fourth-highest double A minus with a stable outlook.
Balancing robust external finances, resilient macroeconomic performance, and a dynamic export sector against geopolitical risks and an aging population were among the reasons for the view.
As for its economic growth outlook for next year, the credit appraiser projects 2-point-1-percent growth for Korea, driven by positive export and investment momentum led by semiconductors.
In fact, Fitch's rating for Korea has remained unchanged since September 2012...

#Israel #Hamas #Conflict #Russia #China #Summit #Belt_and_Road_forum #VladimirPutin #XiJinping #Seoul_ADEX_2023
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2023-10-21, 12:00 (KST)

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