SEOUL, Feb. 11 (Korea Bizwire) – The newly established South Korean Embassy in Havana, Cuba, has launched its website as it has begun its activities in earnest, pledging to expand consular services and seek bilateral cooperation with the host country. South Korea opened its embassy in Cuba last month, a year after the two countries [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s ambitious deep-sea gas exploration project, codenamed “Daewang Whale,” faces an uncertain future after the first drilling attempt failed to yield economically viable hydrocarbon reserves. With the government unwilling to fund a second drilling phase and the Korea National Oil Corporation (KNOC) grappling with financial instability, the project’s continuation [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korea’s Ministry of Justice has embarked on a sweeping revision of the nation’s Civil Act, marking the first comprehensive overhaul since its enactment in 1958. The reform aims to modernize property and contract laws, reflecting economic shifts and aligning with global legal standards. The ministry announced on February 7 [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s economic outlook is growing increasingly uncertain as global trade tensions intensify, raising concerns that the country’s real GDP growth rate could fall to the mid-1% range this year. Compounding the risks of domestic political instability, the latest wave of U.S. tariff hikes on key trading partners has further [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]
SEOUL, Feb. 2 (Korea Bizwire) — The Navy has launched a new fleet command that will operate multiple destroyers, including those equipped with Aegis combat systems, in efforts to better respond to North Korea’s military threats at sea, officials said Sunday. “The Republic of Korea Navy Task Fleet Command, a core unit of the maritime [...]
WASHINGTON, Jan. 29 (Korea Bizwire) — U.S. President Donald Trump will pursue the “complete denuclearization of North Korea,” a White House official said Tuesday, amid questions over whether Trump’s recent reference to the North as a “nuclear power” signaled any policy shift. National Security Council spokesperson Brian Hughes made the remarks shortly after the North’s [...]
JEONJU, South Korea, Jan. 28 (Korea Bizwire) — The planned Saemangeum International Airport in South Korea is at the center of heated debate, with environmental groups and regional authorities clashing over its potential bird strike risks. Following the Jeju Air disaster at Muan International Airport, concerns have intensified about the safety of constructing an airport near [...]
SEOUL, Jan. 28 (Korea Bizwire) — The rapid rise of individual media creators in South Korea has led to significant earnings for top content producers. The top 1% of YouTubers and live-streamers, also known as BJs (Broadcast Jockeys), earned an average of 1.325 billion KRW (approximately $1 million USD) annually, according to data released by Representative [...]
GWANGJU, South Korea, Jan. 23 (Korea Bizwire) — The South Korean city of Gwangju has reciprocated a symbolic gift from the U.S. state of Virginia with a gesture that underscores shared democratic ideals. On January 16, Gwangju Mayor Kang Gi-jung sent the city’s flag to Virginia Governor Glenn Youngkin via professors from Chonnam National University’s Food [...]