PESQUERIA, Mexico, March 6 (Korea Bizwire) — South Korean companies with manufacturing bases in Mexico, along with around 100 local partner firms, are struggling to deal with business uncertainties stemming from the unpredictability of U.S. President Donald Trump’s tariff policy on the neighboring country, industry officials said Thursday. Earlier in the day, Trump signed executive actions to [...]
SEOUL, March 7 (Korea Bizwire) — The government will come up with measures next month to respond to the United States’ plan to impose tariffs on auto imports, the industry ministry said Friday, as the new U.S. tariffs are expected to deal a severe blow to the South Korean automotive industry. The Ministry of Trade, [...]
SEOUL, March 7 (Korea Bizwire) — South Korean steel companies said Friday they will closely cooperate with the government and related agencies to minimize the impact of planned U.S. tariffs on all steel and aluminum imports from next week. U.S. President Donald Trump has announced a series of levies on some of his country’s trading [...]
SEOUL, March 6 (Korea Bizwire) — A working-level Asia-Pacific Economic Cooperation (APEC) meeting on food security was held in South Korea to discuss global food security, Seoul’s agriculture ministry said Thursday. The three-day APEC policy partnership on food security took place in Gyeongju, about 275 kilometers southeast of Seoul, from Tuesday, with some 120 officials [...]
SEOUL, March 6 (Korea Bizwire) — South Korea will nominate Paik Jin-hyun, former president of the International Tribunal for the Law of the Sea (ITLOS), as a candidate for the election for judge of the International Court of Justice (ICJ), the foreign ministry said Thursday. Paik, an honorary professor at Seoul National University, will compete [...]
WASHINGTON, March 5 (Korea Bizwire) – A top South Korean security official on Wednesday anticipated a “good” outcome from consultations between Seoul and Washington on tariff and other trade issues, highlighting the two countries’ desire for a “win-win” result. National Security Adviser Shin Won-sik made the remarks as he arrived in Washington for talks with [...]
SEOUL, March 5 (Korea Bizwire) — Around 1,500 North Korean soldiers who were believed to be additionally deployed to Russia have been already on front lines to aid Russia’s war against Ukraine, a South Korean lawmaker who recently visited Kyiv said Wednesday, citing Ukraine’s defense intelligence agency. Rep. Yu Yong-weon of the ruling People Power [...]
SEOUL, March 5 (Korea Bizwire) — The escalating tariff war initiated by U.S. President Donald Trump is disrupting the decades-old global free trade system, triggering a shift toward protectionism among major economies, including China. The retreat from free trade threatens export-driven economies like South Korea, which now faces mounting challenges amid intensifying U.S.-China economic rivalry. [...]
SEOUL, March 4 (Korea Bizwire) — U.S. President Donald Trump has abruptly suspended all military aid to Ukraine, escalating tensions with Kyiv and raising broader concerns among allies who depend on American security and economic support. According to Bloomberg News on March 3, Trump ordered an immediate halt to U.S. military assistance to Ukraine, including shipments [...]
MOSCOW, March 4 (Korea Bizwire) — Should economic sanctions against Russia be lifted, South Korea’s Hyundai and Kia are expected to be the first foreign automakers to resume operations in the country, according to Russian industry experts. In an interview with TASS News Agency on March 4, Maxim Kadakov, editor-in-chief of Russian automotive magazine Za Rulem, [...]