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Seoul Says USFK Reduction is Matter Requiring Bilateral Consultation

Seoul Says USFK Reduction is Matter Requiring Bilateral Consultation

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 [...]

South Korean Manufacturing Faces Growing Risk Amid Heavy Reliance on U.S. and China Demand

South Korean Manufacturing Faces Growing Risk Amid Heavy Reliance on U.S. and China Demand

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 [...]

OECD Transport Ministers Gather to Discuss Transport Resilience Amid Global Trade Uncertainties, Climate Change

OECD Transport Ministers Gather to Discuss Transport Resilience Amid Global Trade Uncertainties, Climate Change

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 [...]

Celltrion Expects Limited Impact from U.S. Executive Order on Price Reduction

Celltrion Expects Limited Impact from U.S. Executive Order on Price Reduction

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. [...]

S. Korea, U.S. Discuss Expanding Military Maintenance Cooperation to Aircraft, Tanks

S. Korea, U.S. Discuss Expanding Military Maintenance Cooperation to Aircraft, Tanks

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, [...]

S. Korea, EU Agree on Close Cooperation in Countering N. Korea’s Crypto Theft

S. Korea, EU Agree on Close Cooperation in Countering N. Korea’s Crypto Theft

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 [...]

Trump-Era Tariffs Hit Korean Auto Exports to U.S., Though Global Sales Cushion Blow

Trump-Era Tariffs Hit Korean Auto Exports to U.S., Though Global Sales Cushion Blow

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, [...]

Military Says N. Korea Likely Received Russian Support for Air-to-Air Missiles

Military Says N. Korea Likely Received Russian Support for Air-to-Air Missiles

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 [...]

U.S. Commander Highlights Strategic Value of U.S. Ground Forces in South Korea Amid China-Russia Threats

U.S. Commander Highlights Strategic Value of U.S. Ground Forces in South Korea Amid China-Russia Threats

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 [...]

S. Korea Again Requests Exemption From All U.S. Tariffs; 2nd Round of Technical Talks to Be Held Next Week

S. Korea Again Requests Exemption From All U.S. Tariffs; 2nd Round of Technical Talks to Be Held Next Week

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 [...]