WASHINGTON/SEOUL, Jan. 11 (Korea Bizwire) — The Korean American grassroots organization, Korean American Public Action Committee (KAPAC), has publicly condemned Rep. Young Kim (R-CA) for her defense of what it described as “pro-coup forces” aligned with South Korean President Yoon Suk-yeol. KAPAC criticized Kim for remarks made in a recent op-ed published by The Hill, [...]
SEOUL, Jan. 9 (Korea Bizwire) — For the second year in a row, South Korea will participate in the annual North Atlantic Treaty Organization (NATO) Military Chiefs’ meeting, reflecting its growing engagement in global security discussions. According to military sources, Lieutenant General Son Jeong-hwan, head of Strategic Planning at South Korea’s Joint Chiefs of Staff (JCS), [...]
SEOUL, Jan. 8 (Korea Bizwire) — In a recent op-ed for The Hill, U.S. Congresswoman Young Kim (R-CA) argued that the political forces behind South Korean President Yoon Suk-yeol’s impeachment pose a threat to the U.S.-South Korea alliance and trilateral cooperation with Japan. Kim’s comments mark the first instance of U.S. lawmakers openly criticizing the impeachment [...]
SEOUL, Jan. 8 (Korea Bizwire) — Global investment banks are increasingly sounding alarm bells over South Korea’s unprecedented low growth trajectory amid continuing political instability, with attention turning to a potential interest rate cut in January. JP Morgan has issued the most pessimistic outlook, projecting just 1.3% growth for the country in 2025, as domestic economic [...]
SEOUL, Jan. 8 (Korea Bizwire) – Hyundai Steel Co. is reviewing constructing an automotive steel mill in the United States to respond to the incoming Donald Trump administration’s protectionist policies, industry sources said Wednesday. The steel-making unit of South Korea’s auto giant Hyundai Motor Group has discussed the estimated 10 trillion won (US$6.9 billion) investment [...]
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, [...]