SEJONG/ SEOUL, August 1 (Korea Bizwire) — South Korea’s top trade negotiator said Friday that further opening of the Korean rice market was not discussed in the recently concluded trade deal with the United States, refuting Washington’s claim on the politically sensitive issue. Finance Minister Koo Yun-cheol, who doubles as deputy prime minister for economic [...]
SEOUL, August 1 (Korea Bizwire) — Unification Minister Chung Dong-young met with the acting U.S. ambassador in Seoul and emphasized the importance of President Donald Trump’s role in building solid peace on the Korean Peninsula. Chung made the remarks during a meeting with acting U.S. Ambassador to South Korea Joseph Yun, as both the Lee [...]
SEJONG, Aug. 1 (Korea Bizwire) — The Seoul government held an emergency meeting Friday to devise response measures to the United States’ new 50 percent tariffs on imported copper, the industry ministry said. The Ministry of Trade, Industry and Energy met with officials from Korean companies that export copper-related products, including LS Metal and Poongsan [...]
SEOUL, July 31 (Korea Bizwire) — In a notable win for South Korea’s agricultural sector, the government has successfully resisted U.S. demands to further open its domestic rice and beef markets during recent bilateral trade negotiations. The move has been welcomed by farmers and industry groups, who had feared the talks would lead to fresh [...]
SEJONG, July 31 1 (Korea Bizwire) — South Korea and the United States reached a dramatic tariff agreement on July 31, narrowly avoiding the imposition of a 25% mutual tariff that had loomed over bilateral trade. Under the deal, South Korea will invest $350 billion in the U.S., including a $150 billion shipbuilding fund, in [...]
SEOUL, July 31 (Korea Bizwire) — With the tariff deal concluded, South Korea may face the task of resetting key alliance issues with the United States, as the Donald Trump administration is pressing its allies to take on a greater share of defense and security responsibilities. The tariff agreement reached Thursday commits South Korea to [...]
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung urged the government Thursday to closely monitor public concerns over the trade deal with the United States and prepare follow-up measures to protect the nation’s core interests. Lee made the call after Seoul clinched a trade deal with Washington to lower the reciprocal and auto-specific [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s tariff deal with the United States has eased trade uncertainty for the export-driven economy, but President Lee Jae Myung now faces a tougher test of navigating complex alliance and security issues when he meets U.S. President Donald Trump in the coming weeks. Lee confronted a significant challenge [...]
SEOUL, July 31 (Korea Bizwire) — South Korea’s offer to help revitalize the United States’ shipbuilding industry was a key to reaching a tariff deal with the Donald Trump administration, Seoul’s trade minister said Thursday, also highlighting a “key role” U.S. Secretary of Commerce Howard Lutnick played in securing the last-minute deal. “I think the [...]
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 [...]