SEOUL, March 26 (Korea Bizwire) — The Korea International Trade Association (KITA) said Wednesday it has hosted a forum themed on the reconstruction of Ukraine with business representatives from the Eastern European nation to strengthen bilateral ties in Kyiv’s postwar rebuilding efforts. The event was held Tuesday in Seoul in conjunction with a visit by [...]
SEOUL, March 26 (Korea Bizwire) — The South Korean Ministry of Interior and Safety announced on March 25 that it has dispatched an address system delegation to Mongolia, responding to the Mongolian government’s formal request to implement the Korean-style address system (K-Address). Led by Deputy Minister Kim Min-jae, the four-member delegation met with Solongoo Bayarsaikhan, [...]
SEOUL, March 26 (Korea Bizwire) — South Korea’s largest conglomerates are rapidly expanding their investments in the United States, positioning themselves to navigate trade pressures and align with policy shifts under President Donald Trump’s second term. Leading this push is Hyundai Motor Group, which on March 24 (local time) announced a sweeping $21 billion investment plan [...]
SEOUL, March 25 (Korea Bizwire) — South Korea’s efforts to localize its industries in Egypt, such as defense manufacturing and infrastructure, will help further strengthen cooperation between the two countries, the top Egyptian envoy to Seoul has said. Egyptian Ambassador to South Korea Khaled Abdel Rahman made the remarks, emphasizing that his country’s initiatives in [...]
SEOUL, March 24 (Korea Bizwire) — Acting President Choi Sang-mok on Monday instructed the government to promptly engage in follow-up discussions regarding a recent decision by the U.S. Department of Energy to place South Korea on its “sensitive and other designated countries list.” Seoul and Washington have begun working-level talks to address the issue, following [...]
SEOUL, March 21 (Korea Bizwire) — The finance ministry said Friday it will ease restrictions on duty-free alcohol purchases for local tourists visiting the southern resort island of Jeju. Under the revised regulations, the current two-bottle limit will be removed, while the overall allowance remains at up to 2 liters of duty-free alcoholic beverages, with [...]
SEOUL, March 20 (Korea Bizwire) — South Korea has formally confirmed its ratification of a U.N. agreement on the sustainable use of marine biological diversity, becoming the first East Asian country to do so, Seoul’s foreign ministry said Thursday. South Korean Ambassador to the U.N. Hwang Joon-kook deposited an instrument of the ratification for the [...]
SEOUL, March 20 (Korea Bizwire) — The South Korean government has unveiled a comprehensive plan to protect its steel industry from mounting trade risks, including the recent 25% tariff imposed by the Trump administration in the United States and an influx of low-cost Chinese steel. The Ministry of Trade, Industry and Energy announced on Wednesday [...]
SEOUL, March 19 (Korea Bizwire) — A new government survey has revealed that the number of non-professional foreign workers holding E-9 visas in South Korea now exceeds 300,000, with the vast majority employed in the mining and manufacturing industries. Statistics Korea released its “2024 Survey on Immigration Status and Employment – Foreign Residents by Visa Status” [...]
SEOUL, INCHEON & BEIJING, March 18 (Korea Bizwire) — A standoff between South Korean and Chinese maritime authorities has erupted in the West Sea’s Provisional Measure Zone (PMZ) near Ieodo, after South Korea attempted to investigate an unauthorized steel structure installed by China. According to government sources, on February 26, South Korea dispatched the Onnuri, a [...]