SEOUL, Aug. 8 (Korea Bizwire) — Prime Minister Kim Min-seok said Friday the government should consider raising the national terror alert level as the Asia-Pacific Economic Cooperation (APEC) summit draws near, in order to ensure the event is hosted successfully. According to his office, Kim made the remarks while presiding over a counter-terrorism commission meeting, [...]
SEOUL, Aug. 7 (Korea Bizwire) — The government on Thursday announced a series of measures aimed at boosting consumer sentiment in non-metropolitan regions as part of its broader economic stimulus plan. Under the latest plan, consumers who spend 50,000 won (US$36) or more using credit cards at small businesses outside the capital area, such as [...]
SEOUL, Aug. 6 (Korea Bizwire) — South Korea has entered a new era of trade uncertainty as the United States officially begins implementing President Donald Trump’s “reciprocal tariffs” policy, levying a 15% duty on a wide array of Korean exports starting midnight on August 7 Eastern Time. The tariffs, part of Trump’s broader strategy to realign [...]
SEOUL, Aug. 6 (Korea Bizwire) — President Lee Jae-myung on Wednesday ordered a sweeping investigation and potential punitive measures against POSCO E&C, following a series of fatal industrial accidents at the company’s worksites this year. Speaking after yet another serious accident at a POSCO E&C construction site left a worker unconscious earlier this week, President [...]
SEOUL, August 5 (Korea Bizwire) — A wave of civil lawsuits has emerged in South Korea following the country’s first court ruling last month recognizing psychological damages linked to the controversial “December 3 Martial Law” plan, a move that has reignited public scrutiny over the failed emergency military order. According to legal sources, two separate [...]
SEOUL, Aug. 4 (Korea Bizwire) — Industry Minister Kim Jung-kwan reaffirmed government efforts to minimize the impact of U.S. tariffs on local industries in meetings with the chiefs of two major business lobby groups in Seoul on Monday while also delivering his gratitude for the business community’s efforts to help South Korea strike a trade [...]
SEOUL, Aug. 4 (Korea Bizwire) — More than 6 in 10 South Koreans gave a positive assessment of the trade deal reached last week between Seoul and Washington, a poll showed Monday. According to the survey conducted by Realmeter on 1,016 adults aged over 18 on Friday, 63.9 percent said they viewed the deal positively, [...]
National security concerns and U.S. trade pressure shape South Korea’s cautious stance on data sovereignty SEOUL, August 4 (Korea Bizwire) — The South Korean government is deferring a key decision on whether to allow Google to export high-resolution mapping data until after an upcoming summit between President Lee Jae-myung and U.S. President Donald Trump, underscoring [...]
SEOUL, August 4 (Korea Bizwire) — South Korea’s recent breakthrough trade agreement with the United States—touted as a major diplomatic win—may offer temporary relief on tariffs but leaves the door open for further pressure from Washington on sensitive trade issues, experts warn. The deal, struck on July 30, outlines a sweeping $450 billion investment and [...]
SEOUL, August 4 (Korea Bizwire) — In a major step following recent U.S.-South Korea trade negotiations, Korea Trade Insurance Corporation (K-SURE) has issued its first investment guarantee under a $200 billion bilateral fund aimed at boosting Korean business ventures in the United States. K-SURE announced Sunday that it will provide a $1 billion financial guarantee [...]