SEOUL, April 30 (Korea Bizwire) – U.S. Secretary of the Navy John Phelan visited South Korea’s leading shipbuilders, HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., Wednesday, as Washington seeks to strengthen bilateral cooperation in the sector under President Donald Trump. Phelan, on a two-nation Asia trip also involving Japan, visited HD Hyundai Heavy’s [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s major battery makers are increasingly reliant on U.S. subsidies under the Inflation Reduction Act (IRA) as a prolonged slump in electric vehicle (EV) demand—known as the “EV chasm”—drags on, clouding earnings prospects and investment strategies. Now, growing political uncertainty in Washington is further complicating the industry’s outlook. Companies like [...]
SEOUL, April 30 (Korea Bizwire) — Actor Kim Soo-hyun has filed an additional stalking lawsuit against a YouTuber, who accused him of having an inappropriate relationship with late actress Kim Sae-ron when she was still a minor, the actor’s legal representative said Wednesday. LKB & Partners said the latest lawsuit aims to compel Kim Se-ui, [...]
SEOUL, April 30 (Korea Bizwire) — Some 600 North Korean soldiers are believed to have been killed fighting for Russia against Ukraine, South Korea’s spy agency told lawmakers Wednesday, adding that more than 4,000 North Korean soldiers have been also wounded. The National Intelligence Service (NIS) gave the assessment during a closed-door briefing for the [...]
SEOUL, April 30 (Korea Bizwire) — South Korea’s unification ministry said Wednesday it has detected signs of North Korea and Russia launching the construction of a road bridge linking them across the Tumen River as the two nations have been deepening cooperation. In June last year, North Korea and Russia agreed to build the motorway [...]
SEOUL, April 30 (Korea Bizwire) — The U.S. Forces Korea (USFK) on Wednesday advised its troops and employees subscribed to SK Telecom Co. to take safety measures following a major cyberattack at South Korea’s biggest mobile carrier. In a post titled “SK Telecom Breach Cyber Threat Advisory” updated on its website, the USFK warned of [...]
SEOUL, April 30 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that South Korea is not hurrying to conclude trade negotiations with the United States ahead of its upcoming presidential election, noting that recent remarks by U.S. Treasury Secretary Scott Bessent were not specifically directed at Seoul. His comments came after Bessent on Tuesday [...]
SEOUL, April 30 (Korea Bizwire) — South Korea will invest 113.4 billion won (US$79.1 million) this year to develop next-generation defense technologies, including artificial intelligence (AI), semiconductors and robots, the industry ministry said Wednesday. The figure marks a 32.3 percent increase from the corresponding tally for 2024, according to the Ministry of Trade, Industry and [...]
As non-regular workers fall further behind in wages, benefits, and protections, a growing segment of the workforce risks being left out of the country’s economic future. SEOUL, April 30 (Korea Bizwire) — In South Korea’s rapidly changing labor market, a widening wage chasm is sending a sobering message: for non-regular workers, the dream of financial parity [...]
SEOUL, April 30, (Korea Bizwire) — When a fire breaks out, every second can mean the difference between life and death. In South Korea, officials have zeroed in on a critical benchmark: reaching the scene within seven minutes of the emergency call. Beyond that window, authorities say, conditions become catastrophic. Within eight minutes, a typical [...]