SEOUL, April 7 (Korea Bizwire) — South Korea’s financial regulator asked local banks on Monday to play an active role in providing funds for businesses facing difficulties due to the Donald Trump administration’s sweeping tariffs. Kim Byoung-hwan, the chief of the Financial Services Commission (FSC), made the call during a meeting with the heads of [...]
SEOUL, April 6 (Korea Bizwire) — Short selling activity in South Korean amounted to 6.4 trillion won (US$4.38 billion) in the first week after a more than a yearlong ban was lifted, the bourse operator said Sunday. Last Monday, short selling was allowed for all listed firms following a suspension imposed in November 2023 after [...]
SEOUL, April 6 (Korea Bizwire) — The South Korean government announced Sunday it will grant special residency status to three Indonesian nationals who played a critical role in aiding wildfire evacuations earlier this year. The move comes as part of a broader emergency response that also includes supplying 1,460 temporary housing units to residents displaced by [...]
SEOUL, April 4 (Korea Bizwire) — The unification ministry vowed Friday to monitor any movements by North Korea and stably manage the security situation on the Korean Peninsula after the Constitutional Court’s ruling that ousted impeached former President Yoon Suk Yeol from office. “The ministry will closely monitor North Korea’s movements while making every effort [...]
SEOUL, April 3 (Korea Bizwire) — South Korea’s economy will likely face headwinds as the U.S. administration’s plan to impose “reciprocal” tariffs is expected to deal a severe blow to the country’s shipments to the United States, while seriously disrupting the global market that may again adversely affect South Korean exports, local experts said. They [...]
SEOUL, April 3 (Korea Bizwire) — U.S. President Donald Trump’s announcement on “reciprocal” tariffs Wednesday appears to have put South Korea deeper into a soul-searching mode over its growing reliance on the United States for trade, as the protectionist move further jeopardized the fate of a bilateral free trade agreement (FTA). Trump announced a 10 [...]
SEOUL, April 2 (Korea Bizwire) — South Korea officially launched a support program Wednesday for foreigners with expertise in advanced technologies who wish to work in the country that includes a special visa for such foreign talent, a move aimed at enhancing the competitiveness of local advanced industries. The so-called K-Tech Pass program has been [...]
Seeks to Boost Exports Fivefold and Create Global Veterinary Drug Champions SEOUL, April 2 (Korea Bizwire) — South Korea will work to triple the size of the animal medicine market to 4 trillion won (US$2.7 billion) by 2035 as part of efforts to foster new growth engines for the economy, the agriculture ministry said Wednesday. [...]
SEOUL, April 2 (Korea Bizwire) — Supplements marketed as promoting hair growth and preventing hair loss—particularly those containing brewer’s yeast and biotin—have no scientific basis for their claims, according to a new investigation by South Korea’s consumer watchdog. The Korea Consumer Agency (KCA) announced on Tuesday that it reviewed 30 hair health products sold online and [...]
WASHINGTON, March 31 1(Korea Bizwire) — The U.S. Trade Representative (USTR) on Monday released an annual report on foreign trade barriers that listed South Korea’s “offset” defense trade policy, emission-related regulations on imported cars and pricing policies for pharmaceuticals to name a few. The Office of the USTR issued the 2025 National Trade Estimate Report [...]