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 [...]
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 [...]