SANCHEONG, August 4 (Korea Bizwire) — In the aftermath of back-to-back disasters, the rural county of Sancheong in South Gyeongsang Province finds itself overwhelmed, under-resourced, and emblematic of a broader crisis facing South Korea’s depopulating regions. Slammed first by a massive wildfire in March and then by record-breaking rains in July that dumped nearly 800 [...]
National security concerns and U.S. trade pressure shape South Korea’s cautious stance on data sovereignty SEOUL, August 4 (Korea Bizwire) — The South Korean government is deferring a key decision on whether to allow Google to export high-resolution mapping data until after an upcoming summit between President Lee Jae-myung and U.S. President Donald Trump, underscoring [...]
SEOUL, August 4 (Korea Bizwire) — South Korea’s recent breakthrough trade agreement with the United States—touted as a major diplomatic win—may offer temporary relief on tariffs but leaves the door open for further pressure from Washington on sensitive trade issues, experts warn. The deal, struck on July 30, outlines a sweeping $450 billion investment and [...]
SEOUL, August 4 (Korea Bizwire) — In a major step following recent U.S.-South Korea trade negotiations, Korea Trade Insurance Corporation (K-SURE) has issued its first investment guarantee under a $200 billion bilateral fund aimed at boosting Korean business ventures in the United States. K-SURE announced Sunday that it will provide a $1 billion financial guarantee [...]
MASGA initiative aims to deepen Korea-U.S. shipbuilding cooperation under Lee-Trump trade framework SEOUL, August 3 (Korea Bizwire) — South Korea’s leading shipbuilders have formed a joint task force to coordinate participation in the newly announced Korea-U.S. shipbuilding partnership, known as the MASGA (Maritime and Shipbuilding Growth Arrangement) initiative—a $150 billion sector-specific fund unveiled as part [...]
SEOUL, August 2 (Korea Bizwire) — South Korea’s emergency consumer coupon program, launched to revitalize local economies, achieved a 90% disbursement rate within just 11 days of rollout, but has since come under scrutiny over illegal cash conversions and human rights concerns related to the card’s design. The “Livelihood Recovery Consumer Coupons,” issued in prepaid [...]
SEOUL, August 2 (Korea Bizwire) — As South Korea’s foster care rate lags behind international standards, foster parents are sounding the alarm over growing financial burdens and administrative hurdles that discourage families from taking in vulnerable children. According to the Ministry of Health and Welfare, only 44.7% of children in protective care were placed in [...]
SEOUL, August 1 (Korea Bizwire) — As South Korea prepares to review Google’s request to export high-resolution local mapping data next month, government officials are signaling that national security—not trade relations—will remain the key lens through which the issue is assessed. Despite recent speculation that the matter might surface in the context of U.S.-Korea trade [...]
SEOUL, Aug. 1 (Korea Bizwire) – In a bid to curb traffic violations and enhance safety among commercial motorbike drivers, South Korea’s Ministry of Land, Infrastructure and Transport announced Wednesday that it will launch a one-year pilot program in October requiring front-facing number stickers on delivery motorcycles. Currently, motorcycles in Korea are only required to [...]
SEOUL, August 1 (Korea Bizwire) — Poland on Friday signed a deal worth about US$6.5 billion to purchase the second batch of K2 tanks from major South Korean defense contractor Hyundai Rotem Co., Seoul’s defense ministry said. The deal marks the largest-ever arms export contract won by a South Korean company and the first major [...]