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Biz Lobby Launches Promotion Committee for APEC CEO Summit

Biz Lobby Launches Promotion Committee for APEC CEO Summit

SEOUL, Jan. 23 (Korea Bizwire) — South Korea’s business community on Thursday launched a promotion committee to support the government’s preparations for the Asia-Pacific Economic Cooperation (APEC) CEO Summit set to be held in the country this year. The Korea Chamber of Commerce & Industry (KCCI) said the committee, led by KCCI Chairman Chey Tae-won, [...]

China’s Record Trade Surplus Sparks Global Backlash Over Low-Cost Exports

China’s Record Trade Surplus Sparks Global Backlash Over Low-Cost Exports

SEOUL, Jan. 22 (Korea Bizwire) — A surge in Chinese exports is stoking tensions across the global industrial landscape, as countries worldwide grapple with an influx of low-priced Chinese goods that many say is disrupting their domestic markets. China’s customs authority reported that exports reached a record 25.5 trillion yuan in 2024, jumping more than 7% [...]

Trump Calls N. Korea ‘Nuclear Power,’ Says Kim Will Be Happy to See His Presidential Comeback

Trump Calls N. Korea ‘Nuclear Power,’ Says Kim Will Be Happy to See His Presidential Comeback

WASHINGTON, Jan. 20 (Korea Bizwire) – U.S. President Donald Trump on Monday described North Korea as a “nuclear power” and anticipated that North Korean leader Kim Jong-un will be “happy” to see his return to the White House. During a press availability at the Oval Office, Trump made his first public mention of the recalcitrant [...]

Captured N.K. Soldier in Ukraine Says Didn’t Know He Would Be Fighting Ukrainians

Captured N.K. Soldier in Ukraine Says Didn’t Know He Would Be Fighting Ukrainians

SEOUL, Jan. 21 (Korea Bizwire) — One of the two North Korean soldiers captured by Ukraine this month has claimed that he arrived in Russia without knowing whom he would be fighting, according to another video of his interrogation released by Ukrainian President Volodymyr Zelenskyy. Earlier this month, Zelenskyy disclosed that his forces had captured [...]

Trump’s Return Sparks Uncertainty in South Korea’s Competition Policy

Trump’s Return Sparks Uncertainty in South Korea’s Competition Policy

SEJONG, Jan. 20 (Korea Bizwire) — With Donald Trump’s inauguration as U.S. president on January 20, 2025, South Korea’s competition policy faces heightened uncertainty due to his administration’s protectionist agenda and potential pushback against regulatory moves targeting Big Tech firms. U.S. Resistance to South Korean Platform Regulation South Korea’s proposed legislative reforms aimed at curbing [...]

Gov’t to Bolster Safety Monitoring of Products on Overseas Shopping Platforms

Gov’t to Bolster Safety Monitoring of Products on Overseas Shopping Platforms

SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s standard agency said Wednesday it plans to enhance safety surveillance of products sold on overseas shopping platforms amid soaring direct purchases made by local consumers. Under the plan, the country will monitor the safety of 1,000 products sold on major overseas platforms this year, sharply up from [...]

Zelenskyy Releases Additional Video of Captured N.K. Soldier

Zelenskyy Releases Additional Video of Captured N.K. Soldier

SEOUL, Jan. 15 (Korea Bizwire) — Ukrainian President Volodymyr Zelenskyy has released another video showing a captured North Korean soldier undergoing interrogation, accusing Russia of using North Korean troops to “prolong and escalate” its war against Ukraine. “Communication between captured North Korean soldiers and Ukrainian investigators continues. We are establishing the facts. We are verifying [...]

N. Korea Ranks 34th in Global Firepower Ranking; S. Korea 5th

N. Korea Ranks 34th in Global Firepower Ranking; S. Korea 5th

SEOUL, Jan. 14 (Korea Bizwire) – North Korea ranked as the 34th strongest in military firepower globally, while South Korea came in fifth, a global firepower index showed Tuesday. The numbers were released in the 2025 Military Strength Ranking, compiled by Global Firepower (GFP), which assesses the “potential war-making capability” of 145 nations by conventional [...]

Busan Mayor Invited to Trump’s Inauguration Ceremony

Busan Mayor Invited to Trump’s Inauguration Ceremony

BUSAN, Jan. 14 (Korea Bizwire) — Busan Mayor Park Heong-joon has received an official invitation to the inauguration ceremony of U.S. President-elect Donald Trump, slated for Jan. 20, and he is carefully considering whether to fly to Washington, D.C., city officials said Tuesday. Park has become the first mayor of Busan to be invited to [...]