SEOUL, Dec. 11 (Korea Bizwire) — The Russian Embassy in North Korea has hosted a reception to celebrate the ratification of a mutual defense treaty between the two nations, the North’s state media reported Wednesday. North Korea’s top officials, including Choe Ryong-hae, chairman of the Supreme People’s Assembly’s standing committee, Foreign Minister Choe Son-hui and [...]
SEOUL, Dec. 11 (Korea Bizwire) — U.S. Treasury Secretary Janet Yellen has reaffirmed the strong alliance between South Korea and the United States during talks with her South Korean counterpart, the finance ministry said Wednesday. Yellen and Finance Minister Choi Sang-mok held a video conference on Tuesday to discuss the ongoing unrest and evaluate economic [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korean electronics manufacturers are closely monitoring potential trade policy shifts as President-elect Donald Trump continues to emphasize the importance of high tariffs on Korean-made washing machines. Industry observers are particularly concerned about Trump’s campaign promise to impose a universal 10-20% tariff on all imports, which could affect the entire range [...]
SEOUL, Dec. 10 (Korea Bizwire) – Political turmoil following President Yoon Suk Yeol’s declaration of martial law has cast doubt on South Korea’s anticipated 9 trillion won export deal with Poland for additional K2 Black Panther tanks. As the December 3 martial law crisis continues to impede the president’s ability to perform his duties normally, concerns are [...]
SEOUL, Dec. 10 (Korea Bizwire) — A South Korean national residing in Australia traveled to North Korea and met with two nephews in October in the first privately arranged separated families reunion in five years, the South Korean unification ministry said Tuesday. The 80-something person, who also holds Australian citizenship, reported the North Korean trip [...]
SEJONG, Dec. 10 (Korea Bizwire) — South Korea’s trade ministry said Tuesday it will work closely with related government agencies and local businesses to avoid any disruptions in preparing for the launch of the new U.S. administration amid ongoing domestic political turmoil. Trade Minister Cheong In-kyo discussed such strategies with trade and international relations experts [...]
WASHINGTON, Dec. 5 (Korea Bizwire) — The South Korea-U.S. alliance “transcends any particular president,” a State Department spokesperson said Thursday, as the National Assembly is moving to vote on an impeachment motion against President Yoon Suk Yeol over his short-lived martial law imposition. Principal deputy spokesperson Vedant Patel made the remarks, voicing expectation that the [...]
WASHINGTON, Dec. 4 (Korea Bizwire) — President Yoon Suk Yeol “badly misjudged” his short-lived imposition of emergency martial law this week, a senior U.S. diplomat said Wednesday, highlighting that South Korea’s past experience of similar events has a “deep” and “negative” resonance in the Asian country. Deputy Secretary of State Kurt Campbell made the remarks [...]
SEOUL, Dec. 5 (Korea Bizwire) — A new defense treaty signed by the leaders of North Korea and Russia in June came into force this week as the two nations have exchanged the treaty ratification instruments, state media reported Thursday. The comprehensive strategic partnership treaty went into effect Dec. 4, when the two sides signed [...]
SEOUL, Dec. 4 (Korea Bizwire) — The United States Embassy in South Korea issued an emergency alert to its citizens Wednesday, warning the situation is “fluid” after the lifting of martial law and advising them to take safety precautions. The embassy posted the emergency information on its website a day after President Yoon Suk Yeol [...]