SEOUL, Jan. 8 (Korea Bizwire) — Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, and a group of other South Korean business leaders will attend U.S. President-elect Donald Trump’s inauguration ceremony later this month, officials said Wednesday. Chung has been invited to the inauguration ceremony slated for Jan. 20 (U.S. time) in Washington, [...]
SEOUL, Jan. 7 (Korea Bizwire) — The Oxford English Dictionary has added seven new words from Korean culture, including “dalgona” and “hyung,” in its latest update. The December update, announced Tuesday, incorporated “noraebang,” “maknae,” “jjigae,” “tteokbokki” and “pansori” into the dictionary. It marks the first significant addition of Korean-origin words since September 2021, when 26 [...]
SEOUL, Jan. 6 (Korea Bizwire) — Chinese businesses are making significant inroads into South Korea, diversifying their presence across retail, electric vehicles (EVs), e-commerce, and consumer electronics. This trend reflects a broader shift as Chinese companies seek to offset slowing domestic growth and navigate rising trade barriers in the U.S. and Europe. Retail Resurgence: Miniso’s [...]
WASHINGTON, Jan. 2 (Korea Bizwire) — South Korean crypto mogul Kwon Do-hyeong could face up to 130 years in prison if he is convicted of all fraud and other charges, the U.S. Justice Department said Thursday, as he made his initial appearance in a New York court and pleaded not guilty to those charges. Kwon, [...]
SEOUL, Jan. 3 (Korea Bizwire) — Five electric vehicle models from Hyundai Motor Group are set to qualify for a $7,500 consumer tax credit under the U.S. Inflation Reduction Act (IRA), a development expected to boost the automaker’s competitiveness in the American market. According to the U.S. Department of Energy, Hyundai’s Ioniq 5, Ioniq 9, [...]
SEOUL, Jan. 3 (Korea Bizwire) — The release of Squid Game 2 on Netflix has ignited global fascination with traditional Korean games, particularly the childhood pastime of “Gonggi,” a variation of jacks. Since its debut on December 26, 2024, the series has captivated audiences worldwide, logging nearly 500 million viewing hours in its first week [...]
SEOUL, Jan. 2 (Korea Bizwire) – Japanese Ambassador to South Korea Koichi Mizushima on Thursday reaffirmed the importance of the bilateral relations between South Korea and Japan despite the political turmoil surrounding President Yoon Suk Yeol’s impeachment over his brief martial law bid. Mizushima made the remarks in his New Year’s message, voicing hope that [...]
SEOUL, Dec. 31 (Korea Bizwire) — South Korea will implement a new trade rule this week focusing on offering broader support for companies impacted by free trade agreements (FTAs) and other trade pacts, the industry ministry said Tuesday. The Act on Addressing Changes in Trade Environment, an upgraded version of the Act on Trade Adjustment [...]
SEOUL, Dec. 31 (Korea Bizwire) — North Korean leader Kim Jong-un has sent a New Year’s letter to Russian President Vladimir Putin, vowing to further solidify bilateral military cooperation, the North’s state media reported Tuesday. “The New Year 2025 will be recorded as the first year of war victory in the 21st century when the [...]
SEOUL, Dec. 27 (Korea Bizwire) — Ukrainian forces have likely captured a North Korean soldier in what could be the first instance of its kind, a Ukrainian news report has said, as North Korean troops were fighting alongside Russia against Ukraine. Ukraine’s special operations troops reportedly took the soldier during operations in Russia’s western front-line [...]