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SEOUL: South Korea fired warning shots at North Korean soldiers that briefly crossed the heavily fortified border earlier this week, Seoul said Saturday after Pyongyang accused it of risking “uncontrollable” tensions.
South Korea’s new leader Lee Jae Myung has sought warmer ties with the nuclear-armed North and vowed to build “military trust,” but Pyongyang has said it has no interest in improving relations with Seoul.
Seoul’s military said several North Korean soldiers crossed the border Tuesday while working in the heavily mined Demilitarized Zone (DMZ) separating the two Koreas.
The incursion prompted “our military to fire warning shots,” Seoul’s Joint Chiefs of Staff said in a statement, adding “the North Korean soldiers then moved north” of the de facto border.
Pyongyang’s state media said earlier Saturday that the incident occurred as North Korean soldiers worked to permanently seal the frontier dividing the peninsula, citing a statement by Army Lt. Gen. Ko Jong Chol.
Calling the event a “premeditated and deliberate provocation,” Ko said Seoul’s military used a machine gun to fire more than 10 warning shots toward the North’s troops, according to the official Korean Central News Agency.
“This is a very serious prelude that would inevitably drive the situation in the southern border area where a huge number of forces are stationing in confrontation with each other to the uncontrollable phase,” Ko said.
The last border confrontation between the arch-rivals was in early April when South Korea’s military fired warning shots after around 10 North Korean soldiers briefly crossed the frontier.
North Korea’s military announced last October it was moving to totally shut off the southern border, saying it had sent a message to US forces to “prevent any misjudgment and accidental conflict.”
Shortly after, it blew up sections of the unused but deeply symbolic roads and railroad tracks that connect the North to the South.
Ko warned that North Korea’s army would retaliate against any interference with its efforts to permanently seal the border.
“If the act of restraining or obstructing the project unrelated to the military character persists, our army will regard it as deliberate military provocation and take corresponding countermeasure,” he said.
Under Lee’s more hawkish predecessor, relations between the two Koreas had sunk to one of their lowest points in years.
After Lee’s election in June, he pledged to pursue dialogue with the nuclear-armed North without preconditions, saying last week his government “will take consistent measures to substantially reduce tensions and restore trust.”
Even so, South Korea and the United States began annual joint exercises on Monday aimed at preparing for potential threats from the North.
Lee described the drills as “defensive” and said they were “not intended to heighten tensions.”
North Korea – which attacked its neighbor in 1950, triggering the Korean War – has long been infuriated by such exercises between the US and the South, decrying them as rehearsals for invasion.
Hong Min, a senior analyst at the Korea Institute for National Unification, said Pyongyang was again accusing Seoul of pursuing a “dual approach” with its latest outburst – calling for dialogue while in its view raising military tensions.
Pyongyang’s leader Kim called earlier this week for the “rapid expansion” of the North’s nuclear weapons capability, citing the ongoing US-South Korean military exercises that he claimed could “ignite a war.”
His powerful sister has since said Seoul “cannot be a diplomatic partner” of the North, and that Lee “is not the sort of man who will change the course of history.”

WASHINGTON: President Donald Trump on Friday announced the US government has secured a 10 percent stake in struggling Silicon Valley pioneer Intel in a deal that was completed just a couple weeks after he was depicting the company’s CEO as a conflicted leader unfit for the job.
“The United States of America now fully owns and controls 10 percent of INTEL, a Great American Company that has an even more incredible future,” Trump wrote in a post.
The US government is getting the stake through the conversion of $11.1 billion in previously issued funds and pledges. All told, the government is getting 433.3 million shares of non-voting stock priced at $20.47 apiece — a discount from Friday’s closing price at $24.80. That spread means the US government already has a gain of $1.9 billion, on paper.
The remarkable turn of events makes the US government one of Intel’s largest shareholders at a time that the Santa Clara, California, company is in the process of jettisoning more than 20,000 workers as part of its latest attempt to bounce back from years of missteps taken under a variety of CEOs.
Intel’s current CEO, Lip-Bu Tan, has only been on the job for slightly more than five months, and earlier this month, it looked like he might be on shaky ground already after some lawmakers raised national security concerns about his past investments in Chinese companies while he was a venture capitalist. Trump latched on to those concerns in an August 7 post demanding that Tan resign.
But Trump backed off after the Malaysian-born Tan professed his allegiance to the US in a public letter to Intel employees and went to the White House to meet with the president, leading to a deal that now has the US government betting that the company is on the comeback trail after losing more than $22 billion since the end of 2023. Trump hailed Tan as “highly respected” CEO in his Friday post.
In a statement, Tan applauded Trump for “driving historic investments in a vital industry” and resolved to reward his faith in Intel. “We are grateful for the confidence the President and the Administration have placed in Intel, and we look forward to working to advance US technology and manufacturing leadership,” Tan said.
Intel’s current stock price is just slightly above where it was when Tan was hired in March and more than 60 percent below its peak of about $75 reached 25 years ago when its chips were still dominating the personal computer boom before being undercut by a shift to smartphones a few years later. The company’s market value currently stands at about $108 billion — a fraction of the current chip kingpin, Nvidia, which is valued at $4.3 trillion.
The stake is coming primarily through US government grants to Intel through the CHIPS and Science Act that was started under President Joe Biden’s administration as a way to foster more domestic manufacturing of computer chips to lessen the dependence on overseas factories.
But the Trump administration, which has regularly pilloried the policies of the Biden administration, saw the CHIPs act as a needless giveaway and is now hoping to make a profit off the funding that had been pledged to Intel.
“We think America should get the benefit of the bargain,” US Commerce Secretary Howard Lutnick said earlier this week. “It’s obvious that it’s the right move to make.”
About $7.8 billion had been been pledged to Intel under the incentives program, but only $2.2 billion had been funded so far. Another $3.2 billion of the government investment is coming through the funds from another program called “Secure Enclave.”
Although US government can’t vote with its shares and won’t have a seat on Intel’s board of directors, critics of the deal view it as a troubling cross-pollination between the public and private sectors that could hurt the tech industry in a variety of ways.
For instance, more tech companies may feel pressured to buy potentially inferior chips from Intel to curry favor with Trump at a time that he is already waging a trade war that threatens to affect their products in a potential scenario cited by Scott Lincicome, vice president of general economics for the Cato Institute.
“Overall, it’s a horrendous move that will have real harms for US companies, US tech leadership, and the US economy overall,” Lincicome posted Friday.
The 10 percent stake could also intensify the pressure already facing Tan, especially if Trump starts fixating on Intel’s stock price while resorting to his penchant for celebrating his past successes in business.
Nancy Tengler, CEO of money manager Laffer Tengler Investments, is among the investors who abandoned Intel years ago because of all the challenges facing Intel.
“I don’t see the benefit to the American taxpayer, nor do I see the benefit, necessarily to the chip industry,” Tengler said while also raising worries about Trump meddling in Intel’s business.
“I don’t care how good of businessman you are, give it to the private sector and let people like me be the critic and let the government get to the business of government.,” Tengler said.
Although rare, it’s not unprecedented for the US government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60 percent stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in GM.
The US government’s stake in Intel coincides with Trump’s push to bring production to the US, which has been a focal point of the trade war that he has been waging throughout the world. By lessening the country’s dependence on chips manufactured overseas, the president believes the US will be better positioned to maintain its technological lead on China in the race to create artificial intelligence.
Even before gaining the 10 percent stake in Intel, Trump had been leveraging his power to reprogram the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are powering the AI craze, to pay a 15 percent commission on their sales of chips in China in exchange for export licenses.