SEOUL, April 7 (Korea Bizwire) — The foreign ministry said Monday that a South Korean sea salt farm recently placed under U.S. import restrictions is no longer involved in forced labor, after the U.S. customs agency’s ban on its products over alleged labor abuses. The U.S. Customs and Border Protection (CBP) said Thursday (U.S. time) [...]
WASHINGTON, April 4 (Korea Bizwire) – U.S. experts on Friday anticipated a tough road ahead for the Seoul-Washington alliance in the coming months, noting the bilateral relationship would remain in limbo until South Korea elects a successor to now-dismissed President Yoon Suk Yeol. Some pointed to Yoon’s ouster in accordance with constitutional procedures as another [...]
SEOUL, April 4 (Korea Bizwire) — The European Union (EU) expressed respect Friday for South Korea’s Constitution and legal proceedings after the Constitutional Court ruled to remove President Yoon Suk Yeol from office, while reaffirming the strategic partnership with Seoul. “The EU respects the Constitution and legal proceedings in the Republic of Korea,” an EU [...]
SEOUL, April 4 (Korea Bizwire) — The government will hold a series of emergency meetings with representatives from major South Korean industries expected to suffer damage from the United States’ hefty tariffs, the industry ministry said Friday. The Ministry of Trade, Industry and Energy held a meeting with officials from the home appliances, display and [...]
WASHINGTON, April 3 (Korea Bizwire) — The White House confirmed Thursday that the United States will impose a 26 percent reciprocal tariff on imports from South Korea, after questions emerged over the difference between what President Donald Trump presented during a public event and what is written in an official document. During a Rose Garden [...]
BRUSSELS, April 3 (Korea Bizwire) — The top diplomats of South Korea, the United States and Japan met for talks in Brussels on Thursday, a day after U.S. President Donald Trump announced sweeping global tariffs. The talks between Foreign Minister Cho Tae-yul, and his U.S. and Japanese counterparts, Marco Rubio and Takeshi Iwaya, respectively, took [...]
SEOUL, April 3 (Korea Bizwire) — South Korea’s economy will likely face headwinds as the U.S. administration’s plan to impose “reciprocal” tariffs is expected to deal a severe blow to the country’s shipments to the United States, while seriously disrupting the global market that may again adversely affect South Korean exports, local experts said. They [...]
SEOUL, April 3 (Korea Bizwire) — U.S. President Donald Trump’s announcement on “reciprocal” tariffs Wednesday appears to have put South Korea deeper into a soul-searching mode over its growing reliance on the United States for trade, as the protectionist move further jeopardized the fate of a bilateral free trade agreement (FTA). Trump announced a 10 [...]
SEOUL, April 2 (Korea Bizwire) — Once fierce competitors in the global auto industry, South Korea and Japan may now find common ground as shifting geopolitical landscapes and the digital transformation of mobility open new paths for cooperation, a new report suggests. In its latest analysis titled “Strategies and Implications for Japan’s Auto Industry in an [...]
SEOUL, April 2 (Korea Bizwire) — The United States’ plan to impose25 percent tariffs on imported automobiles starting this week has ignited concerns over the long-term stability of GM Korea Co., the South Korean unit of General Motors (GM) Co., raising the possibility of its potential withdrawal from South Korea, industry observers noted Wednesday. GM’s [...]