SEOUL, March 5 (Korea Bizwire) — Trial operations of self-driving freight trucks can now be conducted on all highways in South Korea, which could lead to the start of long-haul autonomous commercial logistics services nationwide in the future, the government said Wednesday. The Ministry of Land, Infrastructure and Transport said it has expanded the country’s [...]
SEOUL, March 5 (Korea Bizwire) — The government announced Wednesday its plan to create a 50 trillion-won (US$34.4 billion) fund to support the semiconductor, rechargeable battery, bio, artificial intelligence (AI) and other advanced industries as part of efforts to bolster South Korea’s industrial competitiveness. The plan was endorsed at a weekly meeting of economy-related ministers, [...]
SEOUL, March 5 (Korea Bizwire) — The state arms procurement agency delivered a training simulator to the Navy on Wednesday to help train troops to operate high-speed amphibious landing craft, officials said. The Navy has sought to train more personnel to steer the vessels designed to play a key role in amphibious landing operations. The [...]
SEOUL, March 5 (Korea Bizwire) — Around 1,500 North Korean soldiers who were believed to be additionally deployed to Russia have been already on front lines to aid Russia’s war against Ukraine, a South Korean lawmaker who recently visited Kyiv said Wednesday, citing Ukraine’s defense intelligence agency. Rep. Yu Yong-weon of the ruling People Power [...]
SEOUL, March 5 (Korea Bizwire) — A government audit has uncovered a growing black market for discounted goods from military stores, with unauthorized resellers exploiting various loopholes to secure products for resale through online marketplaces. According to a Defense Ministry audit report released by the Board of Audit and Inspection (BAI) on March 4, resellers have increasingly [...]
SEOUL, March 5 (Korea Bizwire) — The escalating tariff war initiated by U.S. President Donald Trump is disrupting the decades-old global free trade system, triggering a shift toward protectionism among major economies, including China. The retreat from free trade threatens export-driven economies like South Korea, which now faces mounting challenges amid intensifying U.S.-China economic rivalry. [...]
SEOUL, March 4 (Korea Bizwire) — U.S. President Donald Trump has abruptly suspended all military aid to Ukraine, escalating tensions with Kyiv and raising broader concerns among allies who depend on American security and economic support. According to Bloomberg News on March 3, Trump ordered an immediate halt to U.S. military assistance to Ukraine, including shipments [...]
MOSCOW, March 4 (Korea Bizwire) — Should economic sanctions against Russia be lifted, South Korea’s Hyundai and Kia are expected to be the first foreign automakers to resume operations in the country, according to Russian industry experts. In an interview with TASS News Agency on March 4, Maxim Kadakov, editor-in-chief of Russian automotive magazine Za Rulem, [...]
SEOUL, March 4 (Korea Bizwire) — Shares of South Korean defense companies surged on March 4 following heightened geopolitical uncertainty after a failed summit between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky, fueling expectations of increased military spending in Europe. According to the Korea Exchange, Hanwha Aerospace [012450] soared 18.01% to close at 701,000 [...]
SEOUL, March 4 (Korea Bizwire) — A recent global survey has revealed that four out of 10 South Koreans have difficulty maintaining quality sleep at least three times a week, with stress identified as the leading cause of sleep deprivation. ResMed, a global sleep solutions provider, released the findings of its fifth annual Global Sleep Health [...]