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 [...]
SEOUL, April 1 (Korea Bizwire) — The United States appears to have unexpectedly included South Korea’s defense offset program in an annual trade barrier report in a bid to possibly use it as a bargaining chip for future defense trade deals with Seoul, observers said Tuesday. On Monday, the Office of the U.S. Trade Representative [...]
WASHINGTON, March 31 1(Korea Bizwire) — The U.S. Trade Representative (USTR) on Monday released an annual report on foreign trade barriers that listed South Korea’s “offset” defense trade policy, emission-related regulations on imported cars and pricing policies for pharmaceuticals to name a few. The Office of the USTR issued the 2025 National Trade Estimate Report [...]
SEOUL, April 1(Korea Bizwire) — South Korean industries stayed vigilant Tuesday over a wave of U.S. tariffs set to take effect this week, fueling concerns over the potential impact on the country’s export-driven economy, industry observers noted. On Wednesday (U.S. time), Washington is set to unveil its reciprocal tariffs, taking into account each country’s tariff [...]
SEOUL, March 31 (Korea Bizwire) — South Korea will share its railroad construction technologies and experience with Vietnam as part of bilateral railway cooperation with the Southeast Asian nation, Seoul’s transport ministry said Monday. At a joint forum on the railway industry in Hanoi, the two countries signed a memorandum of understanding for cooperation ranging [...]
SEOUL, March 31 (Korea Bizwire) — The government of South Korea faces mounting pressure from the United States to commit to purchasing liquefied natural gas (LNG) from Alaska, a move that could carry significant economic and geopolitical consequences for Seoul. But despite a visit by Alaska Governor Mike Dunleavy last week and growing American expectations, South [...]
SEOUL, March 31 (Korea Bizwire) — A major veterans group on Monday staged a rally condemning China’s recent construction of large steel structures in a maritime zone jointly managed by South Korea and China in the Yellow Sea, calling for their immediate removal. The Korean Veterans Association’s rally took place near the Chinese Embassy in [...]
BEIJING, March 28 (Korea Bizwire) — Samsung Electronics Co. Chairman Lee Jae-yong and SK hynix Inc. Chief Executive Officer (CEO) Kwak Noh-jung met Chinese President Xi Jinping in Beijing on Friday with other global business leaders. The meeting was held at around 11 a.m. with CEOs from other global companies that participated in the China [...]
WASHINGTON, March 27 (Korea Bizwire) — The alliance between South Korea and the United States is in a “quiet crisis,” a prominent U.S. expert said Thursday, pointing to a series of recent developments, including the absence of leader-level contact and Seoul’s exclusion from the Pentagon chief’s ongoing Indo-Pacific trip. Victor Cha, Korea Chair at the [...]
SEOUL, March 28 (Korea Bizwire) — The Korea Customs Service (KCS) said Friday it has launched a special unit to “preemptively” protect domestic companies from potential fallout due to the latest tariff measures by the U.S. administration. The team aims to minimize anticipated disruptions stemming from U.S. President Donald Trump’s planned reciprocal tariffs, which are [...]