SEOUL, Feb. 11 (Yonhap) – South Korea plans to expand its official development assistance (ODA) to 50 nations by 2029, the agriculture ministry said Tuesday, a move partly aimed at strengthening the global competitiveness of the country’s agri-food industry. The move comes as part of the government’s five-year plan to bolster the country’s international agriculture [...]
SEOUL, Feb. 10 (Korea Bizwire) – A U.S. nuclear-powered submarine arrived at a major southeastern naval base in South Korea on Monday to replenish supplies and provide rest for crew members, the South’s Navy said. The USS Alexandria, a Los Angeles-class attack submarine, entered the naval base in Busan, some 320 kilometers southeast of Seoul, [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea ranked first in new global shipbuilding orders in January, outpacing its rival China, industry data showed Friday. South Korean shipyards clinched orders totaling 900,000 compensated gross tons (CGTs) for 13 ships, accounting for 62 percent of the global total at 1.46 million CGTs last month, according to [...]
SEOUL, Feb. 5 (Korea Bizwire) — Acting President Choi Sang-mok said Wednesday that DeepSeek has emerged as a “fresh shock,” forecasting that the latest artificial intelligence (AI) model from the Chinese startup could reshape the industrial landscape. “A Chinese company recently unveiled its AI model, DeepSeek R1, to deliver high performance at a low cost. [...]
SEOUL, Feb. 5 (Korea Bizwire) - The South Korean government is advancing plans to export integrated power plant and grid systems through public-private partnerships, despite growing market uncertainties surrounding the new Trump administration in the United States. The Ministry of Trade, Industry and Energy announced these plans on February 4 during the kickoff meeting of the [...]
SEOUL, Feb. 4 (Korea Bizwire) — The South Korean Ministry of the Interior and Safety announced on February 3 that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” — establishments recognized for providing quality goods and services at reasonable prices. Under the new initiative, consumers who [...]
SEOUL, Feb. 3 (Korea Bizwire) - The Navy held a ceremony on Monday to mark the establishment of a new fleet command aimed at better responding to North Korea’s military threats at sea, officials said. On Saturday, the Navy officially launched the Republic of Korea Navy Task Fleet Command, calling it a “core unit of [...]
SEOUL, Feb. 3 (Yonhap) - South Korea’s retail sales, a key indicator of private spending, fell by the most in 21 years in 2024, marking the third consecutive year of decline, despite solid industrial output, data showed Monday. Retail sales fell 2.2 percent on-year as sales of both durable and nondurable goods, particularly food, lost ground [...]
SEOUL, Jan. 30 (Korea Bizwire) — Samsung Display Co., a panel manufacturing unit of Samsung Electronics Co., said Thursday its new office building has received top ratings from a U.S. green building certification system for its energy efficiency and eco-friendly design. Samsung Display Research, the company’s newly built headquarters in Giheung on the southern outskirts [...]
SEOUL, Jan. 30 (Korea Bizwire) — Starbucks Korea is planning to add at least 100 outlets this year after recently opening the 2,003rd store in Asia’s fourth-biggest economy, an industry source said Thursday. The Seattle-based coffee giant introduced its first store in front of Ewha Womans University in Seoul in 1999 in partnership with local [...]