SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s economic outlook is growing increasingly uncertain as global trade tensions intensify, raising concerns that the country’s real GDP growth rate could fall to the mid-1% range this year. Compounding the risks of domestic political instability, the latest wave of U.S. tariff hikes on key trading partners has further [...]
SEOUL, Feb. 4 (Korea Bizwire) - A joint motorway bridge project linking North Korea and Russia across the Tumen River is under way, with completion targeted by the end of 2026, according to a Russian report. The Russian government has tasked TonnelYuzhStroi, a construction company, with designing and building a motorway bridge over the river [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea has received 122,095 refugee applications since implementing its refugee program in 1994, with only 1,544 individuals being granted refugee status — an approval rate of 2.7% — according to statistics released by the Ministry of Justice on February 3. The country began accepting refugee applications in March 1994 [...]
SEOUL, Feb. 4 (Korea Bizwire) — More than half of South Korean job seekers say they are willing to accept positions at any company amid growing economic uncertainty, according to a new survey released on February 3. Career platform Saramin found that 55.2% of 464 entry-level job seekers surveyed said they would work “anywhere that offers [...]
SEOUL, Feb. 4 (Korea Bizwire) — The South Korean Ministry of the Interior and Safety announced on February 3 that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” — establishments recognized for providing quality goods and services at reasonable prices. Under the new initiative, consumers who [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]
SEOUL, Feb. 3 (Korea Bizwire) — The Bank of Korea (BOK) disposed of nearly 3.38 trillion won ($23.1 billion) worth of damaged or contaminated banknotes and coins in 2024, a slight decrease from the previous year. According to a report released on Monday, the central bank discarded approximately 474.89 million currency units last year, down 1.9% [...]
SEOUL, Feb. 3 (Korea Bizwire) — The South Korean auto industry is bracing for significant disruptions after U.S. President Donald Trump announced new universal tariffs on the country’s largest trading partners, including Canada, Mexico, and China. The move is expected to have immediate financial implications for South Korean automakers and suppliers, particularly those that have [...]
SEOUL, Feb. 3 (Korea Bizwire) — Nearly half of South Korean men in their 20s and 30s are classified as obese, while about 30% of young adults are in the pre-diabetes or pre-hypertension stage, according to a new study highlighting alarming health trends among the country’s younger population. The findings, published in a recent issue [...]
BUSAN, Feb. 3 (Korea Bizwire) - Authorities launched a joint investigation into a fire-destroyed Air Busan plane on Monday, a week after the plane caught fire at a South Korean airport shortly before takeoff, prompting passengers to make an emergency exit. The transportation ministry, together with the Bureau of Enquiry and Analysis for Civil Aviation Safety, [...]