SEOUL, Feb. 17 (Korea Bizwire) — If the Trump administration moves forward with tariffs on the automotive sector, South Korea and Japan are expected to be among the hardest-hit nations outside North America, according to industry analysts. A report from CNBC on February 13, citing consulting firm GlobalData, highlighted that South Korea and Japan accounted [...]
SEOUL, Feb. 17 (Korea Bizwire) — Kia Corp., South Korea’s second-largest carmaker, said Monday it will participate in the International Defence Exhibition & Conference (IDEX) 2025 in the United Arab Emirates this week, showcasing its non-passenger military vehicles. IDEX 2025, the Middle East’s largest defense industry trade show, is set to open on Monday (local [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea’s fresh fruit imports reached an all-time high in 2024, surpassing $1.4 billion for the first time, driven by rising domestic fruit prices and increased demand for imported alternatives. According to the Korea Rural Economic Institute (KREI), imports of 12 major fresh fruits amounted to $1.447 billion (approximately [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea will run a country booth at a defense exhibition in the United Arab Emirates (UAE) this week, the state arms procurement agency said Monday, as the country seeks to boost its overseas arms exports. The Defense Acquisition Program Administration (DAPA) will set up the booth at the [...]
SEOUL, Feb. 17 (Korea Bizwire) — Major South Korean information and communications technology (ICT) companies are moving away from independent development efforts, forming strategic partnerships with global tech giants in artificial intelligence to minimize risks and boost their service capabilities. KT Corporation, one of South Korea’s largest telecommunications companies, announced plans to collaborate with Microsoft to [...]
SEOUL, Feb. 17 (Korea Bizwire) — The government and the ruling People Power Party were set to discuss preventive measures Monday following a fatal stabbing of an 8-year-old student by a school teacher in the central city of Daejeon last week. During the consultations, the two sides will also discuss whether to seek an amendment [...]
SEOUL, Feb. 17 (Korea Bizwire) — North Korean leader Kim Jong-un has unveiled a construction plan to expand the capital, Pyongyang, eastward, vowing to refurbish dilapidated suburban areas, state media reported Monday. Kim announced the plan in his speech during a groundbreaking ceremony the previous day for the construction of 10,000 flats in Pyongyang’s Hwasong [...]
SEOUL, Feb. 17 (Korea Bizwire) — Major South Korean business lobby groups are preparing to send delegations to the United States in the near future for discussions on bilateral economic cooperation under the second Donald Trump administration, according to industry observers Monday. A business delegation led by Chey Tae-won, chairman of SK Group and the [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korean financial authorities have unveiled plans to reform project financing (PF) regulations, significantly relaxing the strict completion guarantee requirements that construction companies have long argued were excessively burdensome. According to financial authorities, the Financial Services Commission (FSC) shared a draft of improved completion guarantee guidelines with about 40 representatives [...]
GLENDALE, United States, Feb. 16 (Korea Bizwire) – In his first spring training with the Los Angeles Dodgers, South Korean infielder Kim Hye-seong has been working on a swing change. After a long day at Camelback Ranch in Glendale, Arizona, on Sunday, Kim told South Korean media that he has been trying to tweak the [...]