SEOUL, May 23 (Korea Bizwire) — South Korea’s defense ministry said Friday it has not held any discussions with the Pentagon over the possibility of scaling back U.S. Forces Korea (USFK) troops stationed in South Korea, stressing it is a matter that requires bilateral consultation. The remark came in response to a report by The [...]
SEOUL, May 22, 2025 (Korea Bizwire) — A new report warns that South Korea’s manufacturing sector remains disproportionately dependent on foreign demand—particularly from the United States and China—raising concerns about economic vulnerability amid ongoing global trade tensions. According to data released Wednesday by the Korea Employers Federation (KEF), 58.4% of South Korea’s manufacturing GDP in [...]
LEIPZIG, Germany, May 21 (Korea Bizwire) — Top transport officials from member nations of the Organization for Economic Cooperation and Development (OECD), including South Korea, gathered in Germany on Wednesday to discuss measures to improve the resilience of the transport sector amid challenges involving global trade tensions and climate change. The three-day 2025 International Transport [...]
SEOUL, May 21 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Wednesday it expects limited impact from recent U.S. policy developments stemming from a drug pricing executive order signed by President Donald Trump. Last week, Trump announced an executive order introducing a most-favored nation (MFN) pricing model, intended to align U.S. [...]
SEOUL, May 21 (Korea Bizwire) — Senior South Korean and U.S. defense officials met this week to discuss efforts to expand cooperation in maintenance, repair and overhaul (MRO) projects of military equipment to aircraft and tanks, Seoul’s defense procurement agency said Wednesday. Defense Acquisition Program Administration (DAPA) Minister Seok Jong-gun held talks with Vic Ramdass, [...]
SEOUL, May 20 (Korea Bizwire) — South Korea and the European Union (EU) agreed Tuesday on the need to boost cooperation in responding to growing cyberthreats worldwide, including North Korea’s cryptocurrency theft, to ensure a safe and open cyberspace order, Seoul’s foreign ministry said. The two sides shared the understanding during their bilateral policy dialogue [...]
SEOUL, May 20 (Korea Bizwire) — South Korea’s automobile exports to the United States fell sharply in April 2025, as new U.S. tariffs and a temporary slowdown in electric vehicle demand took a toll on the country’s largest export market for cars. According to data released Tuesday by the Ministry of Trade, Industry and Energy, [...]
SEOUL, May 19 (Korea Bizwire) — South Korea’s military on Monday raised the possibility that North Korea received technological assistance from Russia in developing a new air-to-air missile following the North’s test of the weapon last week. On Saturday, the North’s state media reported North Korean leader Kim Jong-un oversaw anti-air combat and air raid [...]
HONOLULU, May 16 (Korea Bizwire) — The top U.S. military commander in South Korea emphasized the continued need for American ground forces on the Korean Peninsula, citing growing strategic concerns involving China and Russia and the geographic importance of South Korea within the Indo-Pacific region. Speaking at the LANPAC Symposium hosted by the Association of the [...]
JEJU, South Korea, May 16 (Korea Bizwire) — South Korea has again asked the United States to exempt the country from all tariffs, Seoul’s Industry Minister Ahn Duk-geun said Friday, after meeting with U.S. Trade Representative Jamieson Greer on the sidelines of a trade ministers’ meeting of the Asia-Pacific Economic Cooperation (APEC) member economies. In [...]