SEOUL, April 30 (Korea Bizwire) — South Korea’s major battery makers are increasingly reliant on U.S. subsidies under the Inflation Reduction Act (IRA) as a prolonged slump in electric vehicle (EV) demand—known as the “EV chasm”—drags on, clouding earnings prospects and investment strategies. Now, growing political uncertainty in Washington is further complicating the industry’s outlook. Companies like [...]
SEOUL, April 30 (Korea Bizwire) — Some 600 North Korean soldiers are believed to have been killed fighting for Russia against Ukraine, South Korea’s spy agency told lawmakers Wednesday, adding that more than 4,000 North Korean soldiers have been also wounded. The National Intelligence Service (NIS) gave the assessment during a closed-door briefing for the [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s unification ministry said Wednesday it has detected signs of North Korea and Russia launching the construction of a road bridge linking them across the Tumen River as the two nations have been deepening cooperation. In June last year, North Korea and Russia agreed to build the motorway [...]
SEOUL, April 30 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that South Korea is not hurrying to conclude trade negotiations with the United States ahead of its upcoming presidential election, noting that recent remarks by U.S. Treasury Secretary Scott Bessent were not specifically directed at Seoul. His comments came after Bessent on Tuesday [...]
WASHINGTON, April 29 (Korea Bizwire) — U.S. Treasury Secretary Scott Bessent said Tuesday that he can see the contours of a trade deal with South Korea “coming together,” as Seoul is seeking to secure exemptions and exceptions from the Trump administration’s “reciprocal” and sectoral tariffs. During a press conference, Bessent also claimed that South Korea [...]
SEOUL, April 29 (Korea Bizwire) — National Assembly Speaker Woo Won-shik has held talks with Mongolian President Ukhnaagiin Khurelsukh and other top officials to discuss ways to boost bilateral ties in critical minerals and supply chains, Woo’s office said Tuesday. During his meeting with Khurelsukh on Monday, Woo also discussed partnerships in areas of transportation, [...]
SEOUL, April 29 (Korea Bizwire) – North Korea’s acknowledgment of its troop dispatch to Russia to support its war in Ukraine will not affect South Korea’s efforts to accept North Korean soldiers captured by Ukraine if they wish to defect to the South, a foreign ministry official said Tuesday. Two North Korean soldiers have been [...]
After centuries lost to history, a revered Korean statue returned home — only to leave again. In its passage, it carries the weight of memory, loss, and the fragile hope for reconciliation. SEOSAN, South Korea, April 29 (Korea Bizwire) – In the quiet foothills of Seosan, beneath the soft breath of spring winds, a golden [...]
BUSAN, April 28 (Korea Bizwire) — A replica of a historic Joseon-era diplomatic ship set sail for Osaka on Monday, marking the first such voyage in 261 years as South Korea and Japan commemorate the 60th anniversary of normalized diplomatic relations. The Busan Cultural Foundation announced that the vessel departed from Yongho Starlight Park in Busan’s Nam-gu [...]
DAEJEON, April 28 (Korea Bizwire) — South Korea’s Korea Advanced Institute of Science and Technology (KAIST) announced Monday that it has completed the first phase of establishing the Kenya Advanced Institute of Science and Technology (Kenya-AIST) in Kenya’s Konza Technopolis, marking the culmination of a decade-long overseas development initiative. The project, aimed at creating a premier [...]