SEOUL, August 1 (Korea Bizwire) — Unification Minister Chung Dong-young met with the acting U.S. ambassador in Seoul and emphasized the importance of President Donald Trump’s role in building solid peace on the Korean Peninsula. Chung made the remarks during a meeting with acting U.S. Ambassador to South Korea Joseph Yun, as both the Lee [...]
SEOUL, August 1 (Korea Bizwire) — The Navy held anti-piracy drills with government officials and a local shipping company Friday ahead of a regular rotation of anti-piracy troops in waters off Somalia, officials said. The drills took place in waters off Geoje Island, some 330 kilometers southeast of Seoul, joined by officials from the foreign [...]
SEOUL, August 1 (Korea Bizwire) — Jailed former President Yoon Suk Yeol on Friday resisted a special counsel team’s attempt to detain him by lying on the floor of his prison cell wearing only his underwear, the team said. Assistant special counsel Moon Hong-ju, and a prosecutor and an investigator from special counsel Min Joong-ki’s [...]
SEJONG, Aug. 1 (Korea Bizwire) — The Seoul government held an emergency meeting Friday to devise response measures to the United States’ new 50 percent tariffs on imported copper, the industry ministry said. The Ministry of Trade, Industry and Energy met with officials from Korean companies that export copper-related products, including LS Metal and Poongsan [...]
SEOUL, August 1 (Korea Bizwire) — President Lee Jae Myung on Friday vowed efforts to promote balanced regional development, saying the government will provide more budgetary support for regions outside of the capital area. Lee made the remarks during a meeting with mayors and provincial governors at the presidential office, the first such gathering since [...]
SEOUL, August 1 (Korea Bizwire) — South Korea’s multicultural households are seeing marked improvements in education and living standards, with over 61% of multicultural youth entering higher education institutions in 2023 — a significant rise from 40.5% in 2021. The gap between multicultural and general youth college enrollment rates has narrowed from 31 percentage points [...]
SEOUL, July 31 (Korea Bizwire) — In a notable win for South Korea’s agricultural sector, the government has successfully resisted U.S. demands to further open its domestic rice and beef markets during recent bilateral trade negotiations. The move has been welcomed by farmers and industry groups, who had feared the talks would lead to fresh [...]
SEJONG, July 31 1 (Korea Bizwire) — South Korea and the United States reached a dramatic tariff agreement on July 31, narrowly avoiding the imposition of a 25% mutual tariff that had loomed over bilateral trade. Under the deal, South Korea will invest $350 billion in the U.S., including a $150 billion shipbuilding fund, in [...]
SEOUL, July 31 (Korea Bizwire) — South Korea has begun allowing its nationals to contact North Koreans without restrictions, provided such contacts are declared in advance, Unification Minister Chung Dong-young said Thursday. Chung said he signed off on the disposal of ministry guidelines governing declarations of contacts with North Koreans the previous day, speaking to [...]
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung on Thursday called for establishing a next-generation power grid as he underscored the importance of shifting the country’s power supply infrastructure to one that centers on renewable energy. “Energy transition has become an essential task,” Lee said as he presided over a meeting of senior [...]