Israel and Hamas have finally reached a ceasefire agreement to end over 15 months of fighting in the Gaza Strip after intensified efforts by mediators, Egypt's state-affiliated Al-Qahera News TV channel reported Wednesday.
Meanwhile, Israeli media, citing U.S. and Israeli officials, confirmed that the two warring parties have reached an agreement on a ceasefire and hostage release.
Israel's state-owned Kan TV news earlier quoted an Israeli official as reporting that Israel received a "positive" written reply from Hamas for approving a proposed Gaza ceasefire-for-hostage release deal.
Also on Wednesday, Al Jazeera reported that Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani met with Hamas and Israeli negotiators in Doha in a "final push" to reach a ceasefire deal.
In another development, Israeli Foreign Minister Gideon Sa'ar said in a statement on Wednesday that the government is expected to vote on the Gaza ceasefire-for-hostage deal on Thursday.
Meanwhile, an Israeli official said the Security Cabinet will also convene on Thursday morning to vote on the deal.
Israel, Hamas reach Gaza ceasefire agreement: media reports
Israel, Hamas reach Gaza ceasefire agreement: media reports
Israel, Hamas reach Gaza ceasefire agreement: media reports
South Korean experts have warned that the United States' new tougher foreign policy under President Donald Trump poses a threat to the East Asian country's economy which has already suffered a slowdown in growth amid an ongoing political crisis.
Trump is expected to take a hard line on trade and diplomacy with South Korea. He wants the Asian partner to pay more for the stationing of over 28,000 U.S. troops in the country, while their trilateral security relationship with Japan is also likely to take a back seat under the newly inaugurated president.
Trump's tariff-driven approach could also see South Korea diversify its markets away from the U.S. With an export-driven economy, according to experts.
"Trump seems to be backing off on some of his remarks, but I think it is fairly definite that he will impose tariffs on a wide range of products as he has emphasized again and again that he has faith in the power of tariffs which virtually no economist shares," said Yang Jun-sok, a professor of economics at Catholic University of Korea.
There is also concern that Trump's policies will be inflationary, making it hard for countries like South Korea to cut key lending rates, along with an expectation that Trump's second term will cause a global slowdown and add to the pain of South Korea's already sluggish economy.
Another big concern for South Korea is security, some experts hold that Trump made no progress with de-nuclearization on the peninsula during his first term. Until last month, the U.S. had been expected to green-light South Korea's request to lift restrictions on reprocessing nuclear materials.
"I don't think there's a reasonable chance for the Trump administration to actually allow South Korea to develop its own nuclear weapons because of the martial law declaration and the political chaos that ensued after the declaration," said Bong Young-shik, a research fellow at Yonsei University.
The expert also noted that the political paralysis in South Korea caused by martial law since early December and the arrest of President Yoon Suk-yeol pose problems for Trump.
"The main challenge must be the absence of reliable and responsible leadership," Bong added.
New U.S. policy finds Seoul struggling with political turmoil, and follows extended national medical strikes. That's also the biggest concern in South Korea. Experts have warned that the political uncertainty is adding to market jitters.
"The political turmoil comes on top of that risk and it's making the capital markets, the financial markets very nervous, it's also beginning to make the export market a bit nervous as well," said Yang.
Trump's tougher foreign policy threatens South Korea's economy: experts