SEOUL, June 9 (Korea Bizwire) — Doosan Enerbility Co., a major South Korean plant builder, said Monday it has secured a 900 billion-won (US$664 million) contract to build a combined cycle power plant in Vietnam by 2028. Doosan Enerbility has formed a consortium with local plant engineering firm PECC2 to construct the 1,155-megawatt power plant [...]
SEOUL, June 8 (Korea Bizwire) — A South Korean appeals court has ruled in favor of a 107-year-old victim of Japan’s wartime forced labor, ordering Mitsubishi Heavy Industries to pay compensation nearly 80 years after the abuse occurred. The civil appeals division of the Seoul Central District Court overturned a 2022 lower court decision that had [...]
SEOUL, June 5 (Korea Bizwire) – A wooden boat carrying four North Korean residents drifted into waters south of the Northern Limit Line, the de facto inter-Korean maritime border, in the East Sea last week, the military said Thursday. “The military detected a small North Korean wooden boat in waters some 100 kilometers east of [...]
SEOUL, June 5 (Korea Bizwire) — South Korea considers the White House’s recent comments about China’s interference in democracies, made after the presidential election, as a separate issue unrelated to the election itself, a Seoul official said Thursday. Following South Korea’s presidential election Tuesday, a White House official said that while “South Korea had a [...]
SEOUL, June 4 (Korea Bizwire) — U.S. President Donald Trump signed a proclamation Tuesday raising tariffs on imported steel and aluminum from 25% to 50%, dramatically escalating trade tensions and sending shockwaves through South Korea’s embattled steel industry. The move, viewed by many as the realization of a “steel curtain” around the U.S. market, erects [...]
SEOUL, June 4 (Korea Bizwire) — President Lee Jae-myung said Wednesday that he would take note of the importance of policy coherence in relations with Japan. Lee, who was sworn into office earlier in the day, made the remarks when asked whether he would uphold the previous government’s approach on the wartime forced labor compensation [...]
SEOUL, June 4 (Korea Bizwire) – A Czech court has canceled an injunction banning the signing of a multibillion-dollar nuclear power plant contract with South Korea, lifting a major hurdle in the final agreement between the two sides, the Korean company in charge of the project said Wednesday. The Korea Hydro & Nuclear Power Co. [...]
![[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila](http://koreabizwire.com/wp/wp-content/uploads/2025/06/an-FA-50-fighter-landing-at-an-air-base-in-the-southwestern-city-of-Gwangju.-.jpg "[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila")
SEOUL, June 4 (Korea Bizwire) — South Korean defense firm Korea Aerospace Industries Ltd. (KAI) has signed a deal with the Philippine defense ministry to export 12 FA-50 light attack fighters by 2030, the state arms procurement agency said Wednesday. The US$700 million deal signed Tuesday marks the second round of FA-50 exports to Manila, [...]
WASHINGTON•BEIJING, June 4 (Korea Bizwire) — The Trump administration on Tuesday congratulated South Korea’s newly elected President Lee Jae-myung and reaffirmed its commitment to deepening trilateral cooperation with Seoul and Tokyo, as tensions with China continue to mount. In an official statement, U.S. Secretary of State Marco Rubio, who also serves as National Security Advisor, [...]
SEOUL, June 4 (Korea Bizwire) — South Korea will host a series of events marking World Environment Day from June 4 to 13, with a flagship ceremony taking place in Jeju on June 5—the first time in 28 years that the global observance is held in the country. The ceremony, organized by the Ministry of [...]