SEOUL, July 31 (Korea Bizwire) — South Korea has agreed to purchase US$100 billion worth of liquefied natural gas (LNG) and other energy products from the United States over the next four years under a tariff deal, U.S. President Donald Trump’s administration announced Thursday. However, the plan does not involve purchasing Alaskan LNG or participation [...]
SEOUL, July 31 (Korea Bizwire) — South Korean farmers and civic groups on Thursday welcomed the exclusion of rice and beef from the nation’s latest trade deal with the United States. “The government emphasized that there will be no further opening of rice and beef markets,” they said in a statement issued during a rally [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s top 92 conglomerates now operate more than 6,360 overseas affiliates across 131 countries, with the United States accounting for the largest share at over 26%, according to a new report from the Korea CXO Institute released on Thursday. The number of foreign subsidiaries grew by nearly 200 [...]
SEOUL, July 31 (Korea Bizwire) — Over the past year, more than two-thirds of South Korea’s top 50 family-run conglomerates have undergone notable shifts in ownership structure, with approximately 1 trillion won (US$750 million) worth of shares transferred—largely through inheritance and gifts to heirs, signaling a new wave of succession planning. According to corporate tracker [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s Hanwha Ocean, one of the nation’s “Big Three” shipbuilders, has opened a new engineering center in India to bolster its competitiveness in the rapidly expanding offshore plant market. According to industry sources on Thursday, Hanwha Ocean’s Offshore Division officially inaugurated the Hanwha Ocean Global Engineering Center India [...]
SEOUL, July 31 (Korea Bizwire) — As South Korean consumers grapple with rising food prices, ultra-low-cost products priced under 1,000 won are gaining popularity—prompting convenience stores to expand their “super-value” offerings. On July 30, 7-Eleven announced the launch of two canned coffee products, “Seven Select Black Coffee” and “Seven Select Café Latte,” each priced at [...]
WASHINGTON, July 30 (Korea Bizwire) — U.S. President Donald Trump announced a tentative trade agreement with South Korea on Tuesday, stating that the United States will lower its reciprocal tariff rate on Korean goods from 25% to 15% in exchange for a $350 billion investment package from Seoul. In a post on Truth Social following [...]
UIJEONGBU, South Korea, July 30 (Korea Bizwire) – As South Korea endures an unrelenting heatwave with temperatures nearing 40 degrees Celsius, over 81,000 chickens and pigs have died in Gyeonggi Province alone between July 11 and 25, according to local government data released Wednesday. The fatalities began mounting shortly after heat advisories were issued across [...]
SEOUL, July 30 (Korea Bizwire) — August has emerged as the deadliest month for drowsy driving-related fatalities in South Korea, with the summer vacation season and long-distance travel contributing to a sharp rise in accidents, according to data released Wednesday by the National Police Agency. Between 2020 and 2024, a total of 9,559 drowsy driving [...]
SEOUL, July 30 (Korea Bizwire) — POSCO Group said Wednesday it will establish a group-wide special safety task force to strengthen safety management across operations following a string of fatal industrial accidents at its sites. According to the group, the task force will be launched Friday and will report directly to Chairman Chang In-hwa. It [...]