SEOUL, November 16 (Korea Bizwire) – South Korean military officials are reportedly contemplating a change to the current rules of engagement at the inter-Korean border, following criticism over the response to North Korean troops firing shots at a defecting North Korean soldier. According to a source close to the military on Wednesday, despite the United Nations [...]
SUWON, November 15 (Korea Bizwire) – Now going on three days since a wounded North Korean soldier was brought to Ajou University Hospital, doctors have found the presence of parasitic worms in his abdomen, providing a glimpse into the poor conditions facing North Koreans. On November 15, professor Lee Kook-jong said while explaining the two [...]
SEOUL, Nov. 14 (Korea Bizwire) — North Korean-manufactured machines guns were seized by a French frigate in an inspection of small Iranian ships on their way to Somalia in the Arabian Sea in March, a U.S. broadcaster reported Tuesday, citing a U.N. report. According to the report recently released by the Monitoring Group of the [...]
SEOUL, Nov. 14 (Korea Bizwire) — Oceans Minister Kim Young-choon on Tuesday interpreted North Korea’s recent repatriation of a seized South Korean fishing boat as a “conciliatory gesture,” as Seoul seeks to improve cross-border ties. During a parliamentary session, Kim also dismissed speculation that Pyongyang captured the boat, 391 Hungjin, last month in a move [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korea said Tuesday it is gauging an “appropriate” time to implement its planned aid to North Korea via U.N. agencies. In September, South Korea approved a plan to offer US$8 million in humanitarian assistance to North Korea to support infants and pregnant women amid tensions sparked by North [...]
SEOUL, Nov. 13 (Korea Bizwire) – South Korean companies that operated factories at the now-shuttered joint industrial park in North Korea said Monday they will accept the tens of billions of won in compensation recently offered by the government, yet decided to seek additional support. On Friday, the government said it will provide compensation to hundreds of domestic companies who suffered losses [...]
JAKARTA, Nov. 9 (Korea Bizwire) — The presidents of South Korea and Indonesia agreed Thursday to upgrade their relations to “special strategic partnership” to push forward all-compassing cooperation in economy, culture, politics and security issues. During their summit, Presidents Moon Jae-in and Joko Widodo also pledged efforts to sharply increase bilateral trade and diversify business [...]
SEOUL, Nov. 8 (Korea Bizwire) — The Financial Action Task Force announced it will continue its countermeasures against North Korea during a general meeting in Buenos Aires, Argentina. According to the Financial Services Commission (FSC) on Monday, the FATF has decided to maintain its economic sanctions at the highest level for the seventh consecutive year [...]
SEOUL, Nov. 7 (Korea Bizwire) – North Korea has rejected Hyundai Asan Corp.’s request to hold a ceremony in the reclusive country later this month to mark the anniversary of the launch of a now-suspended inter-Korean tour program, industry source said Tuesday. The company had received a green light from Seoul’s unification ministry to contact [...]
SEOUL, Nov. 1 (Korea Bizwire) – North Korea is aggressively registering its trademarks amid its leader Kim Jong-un’s repeated order to produce “world-class” consumer products, a U.S. broadcaster said Wednesday. The North recently registered three trademarks with the World Intellectual Property Organization (WIPO), including those of the Ryukyung Kimchi Factory and the Pyongyang Bag Factory, [...]