JEJU, South Korea, May 16 (Korea Bizwire) — Trade ministers of the Asia-Pacific Economic Cooperation (APEC) on Friday reaffirmed the importance of the World Trade Organization (WTO) in addressing global trade issues amid escalating uncertainties sparked by growing protectionism. The trade chiefs of the Asia-Pacific region reached such a consensus in a joint statement unanimously [...]
SEOUL, May 16 (Korea Bizwire) – The chief executive officers (CEOs) of HD Hyundai and Hanwha Ocean Co., South Korea’s major shipbuilders, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the companies said Friday. HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul had separate meetings [...]
SEOUL, May 15 (Korea Bizwire) — In a bid to ease mounting labor shortages in its service industry, the South Korean government announced Thursday an expansion of permissible job roles for foreign workers under the Employment Permit System (E-9 visa), particularly in delivery services, restaurants, and the hospitality sector. At the 47th Foreign Workforce Policy [...]
SEOUL, May 15 (Korea Bizwire) — Choi Jung-wha, professor emeritus at the Hankuk University of Foreign Studies (HUFS) and president of the Corea Image Communication Institute (CICI), became the first Korean woman to be awarded the Officier grade of the Legion of Honor, France’s highest order of merit. According to the institute, Choi received the [...]
SEOUL, May 15 (Korea Bizwire) — South Korea expressed hope Thursday that U.S. President Donald Trump’s announcement on a plan to lift sanctions on Syria will serve as a turning point in efforts toward promoting stability and economic growth in the Arab nation. The foreign ministry made the statement after Trump said he would lift [...]
SEOUL, May 15 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Thursday its business will remain largely unaffected by U.S. President Donald Trump’s executive order aimed at lowering drug prices to match those in other countries. The order seeks to address a drug pricing system in which the United States pays [...]
JEJU, South Korea, May 15 (Korea Bizwire) — South Korean Trade Minister Cheong In-kyo met with U.S. Trade Representative (USTR) Jamieson Greer on Thursday to discuss tariff and other trade issues on the sidelines of a trade ministers’ meeting of the Asia-Pacific Economic Cooperation (APEC), Seoul’s industry ministry said. Cheong and Greer held a one-on-one [...]
WASHINGTON, May 15 (Korea Bizwire) — A majority of Americans believe that investments by South Korean companies in the United States are beneficial to the U.S. economy, according to a recent poll released by the Korea Economic Institute of America (KEI), a Washington-based think tank. The survey, conducted by polling firm YouGov between December 17, 2024, and [...]
SEOUL, May 14 (Korea Bizwire) — North Korean leader Kim Jong-un has supervised combined tactical drills of special operations forces, stressing that the most “crucial” task for the North’s armed forces is to make full preparations for war, state media reported Wednesday. The combined tactical drills of special operations and tank subunits’ joint fire strike [...]
INCHEON, South Korea, May 14 (Korea Bizwire) — U.S. Trade Representative (USTR) Jamieson Greer arrived in South Korea on Wednesday to attend a trade ministers’ meeting of the Asia-Pacific Economic Cooperation (APEC) member economies and meet with Seoul’s trade chief this week. Greer arrived at Incheon International Airport, west of Seoul, around 6:10 p.m., but [...]