SEOUL, June 12 (Korea Bizwire) — Incheon International Airport Corp. (IIAC) said Thursday it has signed a memorandum of understanding (MOU) with the Guayaquil Airport Authority of Ecuador to cooperate on the development and operation of a new international airport in the South American country’s largest commercial hub. Under the MOU signed Wednesday, the two [...]
SEOUL, June 11 (Korea Bizwire) – Pilots made an emergency escape following an accident involving a South Korean KF-16 fighter jet taking part in the U.S.-led multinational Red Flag air exercise in Alaska, the South’s Air Force said Wednesday. The two pilots ejected themselves from the double-seat fighter after an emergency situation occurred at around [...]
SEOUL, June 10 (Korea Bizwire) — The Korea Trade-Investment Promotion Agency (KOTRA) said Tuesday it has launched an internal task force aimed at overhauling the country’s export strategy structure to help the country achieve US$1 trillion in annual exports. The trade structure innovation task force was formed to strategically respond to the rapidly changing global [...]
SEOUL, June 10 (Korea Bizwire) -- HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Tuesday it has secured a 2.4 trillion-won (US$1.76 billion) order to build eight container ships for an Asian shipping company by 2028. The 15,900 twenty-foot equivalent unit (TEU) container carriers will be constructed at the shipyard of HD Hyundai [...]
SEOUL, June 10 (Korea Bizwire) — South Korea is likely to sign a deal worth around US$6 billion to export additional K2 tanks to Poland later this month, government sources said Tuesday, in what would be Seoul’s biggest single arms export contract. Under the deal set to be signed in late June, Poland will receive [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s top military officer met with the chief of the U.S. Transportation Command on Monday and discussed ways to bolster cooperation, such as regularizing combined transportation drills, the South’s Joint Chiefs of Staff (JCS) said. JCS Chairman Adm. Kim Myung-soo and Gen. Randall Reed held talks in Seoul, [...]
SEOUL, June 9 (Korea Bizwire) — President Lee Jae-myung and Japanese Prime Minister Shigeru Ishiba agreed to deal with geopolitical crises under the framework of trilateral cooperation with the United States in their first phone talks Monday, the presidential office said. During the 25-minute conversation, Lee and Ishiba also reaffirmed the importance of bilateral ties [...]
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 [...]