SEOUL, May 8 (Korea Bizwire) – Hundreds of thousands of barrels of Russian naphtha, a crucial raw material for plastics and synthetic fibers, have been stranded at sea for over a week as South Korea, a major buyer, shuns cargoes from the nation following its invasion of Ukraine, according to Bloomberg. The standoff is a consequence [...]
SEJONG, May 8 (Korea Bizwire) – Sam’s Club, the membership-only retail warehouse chain owned by Walmart, is eager to purchase Korean products across several categories, presenting a significant opportunity for small and medium-sized Korean companies looking to penetrate China’s consumer market. The Korea Trade-Investment Promotion Agency (KOTRA) revealed on May 7 a list of items that [...]
SEOUL, May 8 (Korea Bizwire) — With President Yoon Suk Yeol set to begin his third year in office, South Korea has presented sluggish economic growth amid stubborn inflation unseen in decades, experts said Wednesday, calling for a clear, detailed policy mix to spur growth while maintaining its restrictive fiscal stance and structural reforms. Growth [...]
SEOUL, May 8 (Korea Bizwire) — North Korean leader Kim Jong-un has sent a congratulatory message to Russian President Vladimir Putin for formally starting his fifth term as Moscow’s leader, state media said Wednesday, amid deepening military cooperation between the two nations. Putin began his fifth term Tuesday, extending his 24-year rule for another six [...]
SEOUL, May 8 (Korea Bizwire) — Veterans Minister Kang Jung-ai has posthumously conferred a medal to a late French politician, Louis Marin (1876-1960), to honor his support for Korea’s independence from Japan’s 1910-45 colonial rule, the ministry said Wednesday. Kang presented the Order of Merit for National Foundation to Louis Dominici, the president of the [...]
SEOUL, May 8 (Korea Bizwire) — Doosan Bears left-hander Brandon Waddell is pitching in his third season in the Korea Baseball Organization (KBO), but this is the first time he has been with the Seoul-based club from spring training onward. In each of the past two years, Waddell stepped in as a midseason replacement, pitching [...]
SEJONG, May 8 (Korea Bizwire) – Industry Minister Ahn Duk-geun has said the government is weighing the “appropriate timing” to raise utility prices, including gas and electricity, amid the volatility in the global market. “As the situations in the Middle East remain unstable, we are monitoring the situation while finding the appropriate timing to raise [...]
SEOUL, May 8 (Korea Bizwire) – Two-time defending K League 1 champions Ulsan HD FC announced Wednesday their defender Seol Young-woo will undergo a shoulder operation. Seol, who has also collected 16 caps for the national team, was scheduled to have his surgery later Wednesday to address chronic dislocation of his right shoulder. Ulsan said [...]
SEOUL, May 8 (Korea Bizwire) — The education ministry warned Pusan National University (PNU) of punitive action, including the suspension of student admissions, on Wednesday a day after the school decided to halt its planned hike in medical school admissions. The university in the port city of Busan, 320 kilometers southeast of Seoul, was one [...]
SEOUL, May 8 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its medical equipment unit Samsung Medison Co. has acquired the French artificial intelligence medtech startup Sonio, as part of its effort to expand its AI-powered health care solution business. Samsung Medison entered into a share purchase agreement to acquire Sonio, which specializes in AI [...]