South Korean President Yoon Suk-yeol Addresses Concerns North Korea Continues Nuclear Tests

JAKARTA - South Korea's new president Yoon Suk-yeol said on Wednesday that the security situation on the Korean peninsula was difficult, citing talk of a possible nuclear test by North Korea.

Yoon made the comments during a meeting with a number of ministers, urging officials to remain vigilant to respond better in such situations, according to a report from South Korea's presidential office.

"The security situation is difficult, with many from abroad also worrying amid (North Korea's) talks on continuing nuclear tests," President Yoon said.

President Yoon was sworn in on Tuesday amid rising tensions on the Korean Peninsula, with North Korea testing a series of new weapons, including the latest one just three days before his inauguration.

He also said at the meeting that rising prices were the biggest problem facing the economy.

"The economy is in a very difficult situation and the main problem is price growth," he said.

"We need to do a thorough review of various indicators and continue to study ways to hold prices based on analysis of the sources of price growth," he said.

As previously reported, South Korean President Yoon Suk-yeol has asked North Korea to give up its nuclear weapons, in exchange for massive economic aid.

At his swearing-in on Tuesday, President Yoon described Pyongyang's missiles as a threat to regional and global security.

"If North Korea truly begins the process of completing denuclearization, we are ready to work with the international community to present a bold plan that will greatly strengthen North Korea's economy, improving the quality of life of its people," he said.