SEOUL, Nov. 24 (Korea Bizwire) — South Korea’s president, Lee Jae Myung, has taken the unusual step of sending personal letters of consolation to more than 300 Korean workers who were swept up in a weeklong immigration raid this fall at a Hyundai–LG joint battery plant in Georgia. The gesture, announced Monday, is at once [...]
SEOUL, Nov. 24 (Korea Bizwire) — Despite a global economic downturn and a 14 percent cut to next year’s official development assistance budget, South Korea has pledged US$100 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria—matching its previous commitment and strengthening its standing in international health governance. The announcement was made Friday at [...]
CAIRO, Nov. 20 (Korea Bizwire) – President Lee Jae Myung on Thursday held summit talks with Egyptian President Abdel Fattah El-Sisi and agreed to work together to promote peace on the Korean Peninsula and in the Middle East while strengthening economic and defense industry cooperation. The summit in Cairo took place during Lee’s official visit [...]
CAIRO & SEOUL, Nov. 20 (Korea Bizwire) – President Lee Jae-myung, on a state visit to Egypt, appealed Thursday for deeper cooperation between Seoul and Cairo, invoking what he described as striking historical parallels in the two nations’ struggles for peace and independence. In a keynote address at Cairo University, Lee said that although South Korea [...]
SEOUL, Nov. 20 (Korea Bizwire) — A Korean civic organization campaigning to correct distorted world maps has received its first formal endorsement from an international body, marking a significant milestone in its effort to address long-standing misrepresentations of Africa’s size. VANK, a digital diplomacy group, said on Nov. 20 that the Statistical, Economic and Social Research [...]
ABU DHABI & SEOUL, Nov. 19 (Korea Bizwire) — On a warm November morning in the Emirati capital, President Lee Jae-myung arrived at a polished conference hall filled with Korean and Emirati business executives, all seated beneath a chandelier of cascading glass. But it was the future — not the décor — that commanded [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korea has secured a decisive victory in its protracted legal war with Lone Star Funds, closing a contentious chapter that has shaped the country’s financial and political landscape for more than two decades. The U.S. private equity firm—long criticized in Korea as a predatory “vulture fund”—first entered the market [...]
SEOUL, Nov. 18 (Korea Bizwire) — North Korea on Tuesday issued its first official response to last week’s U.S.–South Korea summit, denouncing the joint fact sheet and Security Consultative Meeting (SCM) statement as fresh evidence of what it called Washington and Seoul’s “hostile and confrontational intent.” In a lengthy commentary carried by the Korean Central News [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States released a joint fact sheet on Thursday (U.S. time) that, while avoiding explicit references to China, carries unmistakable signals of Washington’s intent to enlist Seoul more deeply in countering Beijing’s expanding military footprint in the Indo-Pacific. The document, unveiled a day after the two [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States have agreed to strengthen digital trade freedoms and prevent discriminatory regulation against American firms operating in Korea, according to a joint fact sheet released Friday by the presidential office. Under the agreement, the two governments pledged to ensure that U.S. companies are not subjected [...]