SEOUL, May 31 (Korea Bizwire) – President Moon Jae-in on Wednesday vowed to build a stronger maritime nation by bolstering its economic and military powers at sea. As part of the efforts, he promised to establish a public corporation to provide financial assistance to the nation’s ailing shipping and shipbuilding industries, and revive their global [...]
SEOUL, May 30 (Korea Bizwire) – North Korea announced Tuesday it succeeded in the latest launch of a ballistic missile, which it said features a new high-precision guidance system and a quick launch process. The North’s leader Kim Jong-un observed the test-firing of a “precision-guided ballistic rocket capable of making ultra-precision strike,” the Korean Central [...]
SEOUL, May 26 (Korea Bizwire) – “Moonshine Policy” is what the media have dubbed President Moon Jae-in’s stance towards North Korea, taken from late President Kim Dae-jung’s famous Sunshine Policy that earned him the Nobel Peace Prize in 2000. After over nine years of rule at the hands of two conservative presidents, South Korea has a [...]
SEOUL, May 22 (Korea Bizwire) – North Korean leader Kim Jong-un has approved the deployment of a new intermediate-range ballistic missile for combat use as the country succeeded in test-firing it, Pyongyang’s state media said Monday. North Korea’s leader observed the launch of the ground-to-ground Pukguksong-2 missile, expressing satisfaction with its accuracy in hitting targets, [...]
BEIJING, May 22 (Korea Bizwire) – Chinese-made electronic goods and cars are completely dominating the North Korean market amid the United Nations’ years-long tough economic sanctions against its unwavering nuclear and missile development, the office of the Korea Trade-Investment Promotion Agency (KOTRA) here said Sunday. The North imported US$75.04 million worth of LCD TVs from [...]
SEOUL, May 19 (Korea Bizwire) – The top organizer of the 2018 Winter Olympics in South Korea has offered to open the land route for North Korean athletes if they decide to compete south of the tense border. In a meeting with journalists at the South Korean Embassy in London on Thursday (local time), Lee [...]
SEOUL, May 17 (Korea Bizwire) — South Korea and China appear to be moving toward mending their strained ties over the installation of a U.S. missile defense system here as exchanges and contacts in diverse areas have apparently been gaining traction since the inauguration of liberal President Moon Jae-in, experts said Tuesday. The recently wrapped-up [...]
SEOUL, May 15 (Korea Bizwire) – North Korea said Monday it has successfully tested-fired a new mid- and long-range ballistic missile that can carry a large nuclear warhead, claiming that the U.S. mainland is within its striking range. North Korea said that a “large-size heavy nuclear warhead” can be fit on its new ground-to-ground missile, [...]
SEOUL, May 11 (Korea Bizwire) – Gas prices in North Korea have skyrocketed amid rumors that China might control its oil supply to the troublesome ally to comply with the international community’s sanctions against the North’s nuclear development, a U.S. broadcaster said Thursday. Gas stations in Pyongyang recently raised oil prices by more than 85 [...]
SEOUL, May 11 (Korea Bizwire) — North Korea has unveiled what it claims are satellite images of the Terminal High Altitude Area Defense (THAAD) system recently deployed in South Korea, a move aimed at flaunting the country’s capability to gather intelligence against Seoul. The North’s state-run Korean Central TV Broadcasting Station aired two pictures showing [...]