SEOUL, May 4 (Korea Bizwire) — As the second Trump administration signals renewed interest in U.S.-Korea collaboration in shipbuilding, South Korea is eyeing an opportunity to revitalize its maritime industry. However, analysts warn that meaningful gains will require overcoming major domestic obstacles, including limited U.S. infrastructure and an acute labor shortage at home. According to a [...]
SEOUL, May 2 (Korea Bizwire) – South Korea will continue to engage the United States in discussions over the latter’s new tariff schemes, Trade Minister Cheong In-kyo said Friday, stressing that any progress in those talks will provide a basis for the country’s incoming administration to build on. Cheong’s remarks come one day after former [...]
SEOUL, May 1 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong plans to attend the annual meeting of the Asian Development Bank (ADB) and gatherings of ASEAN finance ministers and central bank governors in Milan next week to discuss global economic conditions and other major financial issues, his office said Thursday. Rhee is [...]
SEOUL, May 1 (Korea Bizwire) – A civic group has accused elementary school textbooks in South Korea of depicting Africa with prejudice and oversimplifying portrayals of the continent as just a recipient of aid. The Voluntary Agency Network of Korea (VANK) released its review of five sixth grade social studies textbooks on content concerning Africa [...]
SEOUL, May 1 (Korea Bizwire) — HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., South Korea’s leading shipbuilders, have pledged to strengthen cooperation with the United States in naval shipbuilding and maintenance during a visit by a top U.S. Navy official this week, according to the companies Thursday. U.S. Secretary of the Navy John [...]
South Korea Secures Major Nuclear Power Deal in Czech Republic, Marking Breakthrough in European Energy Market SEOUL, April 30 (Korea Bizwire) — For more than a decade, South Korea’s nuclear industry had its eyes set westward. On a Tuesday in April, that ambition finally crystallized into reality. After months of negotiations and fierce competition with industry [...]
SEOUL, April 30 (Korea Bizwire) – U.S. Secretary of the Navy John Phelan visited South Korea’s leading shipbuilders, HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., Wednesday, as Washington seeks to strengthen bilateral cooperation in the sector under President Donald Trump. Phelan, on a two-nation Asia trip also involving Japan, visited HD Hyundai Heavy’s [...]
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 [...]