SEOUL, July 4 (Korea Bizwire) — The United States has asked for greater access to the South Korean market for the agriculture, automotive, digital and services sectors during recent bilateral trade consultations, Seoul’s top trade negotiator said Friday. “In the areas of tariffs and non-tariff measures, the U.S. has urged South Korea to grant improved [...]
SEOUL, July 3 (Korea Bizwire) — President Lee Jae Myung on Thursday praised Seoul’s recently completed defense export deal with Poland involving South Korean-produced K2 tanks, calling it a “splendid feat” for the Korean defense sector. Lee’s remarks came a day after the Defense Acquisition Program Administration (DAPA) announced that it had secured the second [...]
SEOUL, July 3 (Korea Bizwire) — President Lee Jae Myung held his first phone talks with Mark Rutte, secretary general of the North Atlantic Treaty Organization (NATO), on Thursday and discussed ways to deepen Seoul’s partnership with the transnational military alliance, Lee’s office said. During the call, Lee congratulated Rutte for the successful hosting of [...]
SEOUL, July 3 (Korea Bizwire) — Samyang Foods Inc., maker of the globally popular Buldak spicy ramyeon, said Thursday it has begun construction of its first overseas production facility in China to meet growing demand for its signature product. The company will invest 201.4 billion won (US$148 million) in the new plant, which will be [...]
SEOUL, July 3 (Korea Bizwire) — North Korea has established drone production with Russia’s help, and Russian instructors are also training drone pilots in Pyongyang and the eastern city of Wonsan, a Russian official’s Telegram showed Thursday. “As I said back in the autumn … the production of Shahed-Geran drones in North Korea has already [...]
SEOUL, July 2 (Korea Bizwire) — South Korea has finalized a landmark defense export deal with Poland for a second batch of K2 Black Panther tanks, marking the largest single defense export contract in the country’s history and the first major arms deal under President Lee Jae-myung’s administration. The Defense Acquisition Program Administration (DAPA) announced [...]
SEOUL, July 2 (Korea Bizwire) — In a move that could become the first major diplomatic test of President Lee Jae-myung’s nascent administration, China has approached South Korea about his potential attendance at a military parade this September, commemorating the 80th anniversary of its World War II victory over Japanese aggression. Diplomatic sources revealed Wednesday [...]
SEOUL, July 2 (Korea Bizwire) — South Korea and China have discussed cooperation on the upcoming Asia-Pacific Economic Cooperation (APEC) summit here and other pending bilateral issues, likely including Beijing’s steel structures in the overlapping maritime zone in the Yellow Sea, Seoul officials said Wednesday. The working-level dialogue took place Tuesday, led by Kang Young-shin, [...]
SEOUL, July 2 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said Wednesday their combined vehicle sales in the United States rose 0.9 percent in June from a year earlier, with growth slowing from the previous month amid ongoing concerns over U.S. auto tariffs. The two automakers sold a total of [...]
SEOUL, July 2 (Korea Bizwire) — South Korea and Poland have completed talks over the export of additional K2 tanks to the European nation, the South’s state arms procurement agency said Wednesday, in what would be the first major arms contract signed under the new government when signed. Polish Defense Minister Wladyslaw Kosiniak-Kamysz and Hyundai [...]