A South Korean delegation will meet U.S. counterparts on Thursday for an opening round of trade talks, with cooperation on shipbuilding and energy expected to be on the agenda, and possibly shared defence costs,

South Korea's economy unexpectedly contracted in the first quarter of the year, the country's central bank said Thursday, amid political turmoil at home and global uncertainty around Trump's tariff scheme.

Data from the Bank of Korea showed that the drop was mostly due to a fall in construction, with the sector contracting 12.4% year-on-year.