SEOUL, Nov. 20 (Korea Bizwire) – An advisory committee of the Korea Heritage Service (KHS) expressed strong concerns on Thursday over the Seoul Metropolitan Government’s plan to build high-rise buildings near the historic Jongmyo Shrine. The Cultural Heritage Committee under the KHS criticized the city’s development plan for the Sewun 4 District, located across from [...]
ABU DHABI & SEOUL, Nov. 19 (Korea Bizwire) — On a warm November morning in the Emirati capital, President Lee Jae-myung arrived at a polished conference hall filled with Korean and Emirati business executives, all seated beneath a chandelier of cascading glass. But it was the future — not the décor — that commanded [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korea has secured a decisive victory in its protracted legal war with Lone Star Funds, closing a contentious chapter that has shaped the country’s financial and political landscape for more than two decades. The U.S. private equity firm—long criticized in Korea as a predatory “vulture fund”—first entered the market [...]
SEOUL, Nov. 18 (Korea Bizwire) — North Korea on Tuesday issued its first official response to last week’s U.S.–South Korea summit, denouncing the joint fact sheet and Security Consultative Meeting (SCM) statement as fresh evidence of what it called Washington and Seoul’s “hostile and confrontational intent.” In a lengthy commentary carried by the Korean Central News [...]
SEOUL, Nov. 16 (Korea Bizwire) — Seoul partially suspended operations of its new Hangang bus service on Sunday after a vessel ran aground near Jamsil Pier, prompting the rescue of more than 80 passengers and intensifying political scrutiny over the project’s safety record. The accident occurred at around 8:24 p.m. Saturday, when a river bus [...]
WASHINGTON, Nov. 14 (Korea Bizwire) – South Korean and U.S. officials struck an upbeat note on the trajectory of the two countries’ evolving relationship, calling it a “model” and “forward-looking” alliance, as they celebrated the Korean National Day and Armed Forces Day in Washington on Thursday. Their display of confidence over the decades-old alliance came [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States released a joint fact sheet on Thursday (U.S. time) that, while avoiding explicit references to China, carries unmistakable signals of Washington’s intent to enlist Seoul more deeply in countering Beijing’s expanding military footprint in the Indo-Pacific. The document, unveiled a day after the two [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States have agreed to strengthen digital trade freedoms and prevent discriminatory regulation against American firms operating in Korea, according to a joint fact sheet released Friday by the presidential office. Under the agreement, the two governments pledged to ensure that U.S. companies are not subjected [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea and the United States have agreed to accelerate long-stalled efforts to transfer wartime operational control (OPCON) to Seoul, a move that aligns with President Lee Jae-myung’s pledge to complete the transition before the end of his term in 2030. The commitment was included in a joint fact sheet [...]
WASHINGTON, Nov. 13 (Korea Bizwire) – The United States has formally endorsed South Korea’s long-standing ambition to build nuclear-powered submarines and expressed support for Seoul’s push to acquire civil uranium enrichment and spent-fuel reprocessing capabilities, according to a joint fact sheet released Thursday. The document, issued by the White House, summarizes the outcomes of two [...]