SEOUL, Aug. 25 (Korea Bizwire) — South Korea will seek a joint response with the European Union over the U.S. Inflation Reduction Act that excludes electric vehicles assembled outside of North America from tax incentives, the industry ministry said Thursday. The law, signed by U.S. President Joe Biden last week, calls for the expansion of [...]
BRUSSELS/SEOUL, July 1 (Korea Bizwire) — The European Union (EU) has approved a guideline recommending its member states reopen their borders to 14 countries, including South Korea, after restricting all non-essential entries from outside the bloc over coronavirus fears. The European Council representing 27 member states adopted the non-binding recommendation on Tuesday (Belgium time), taking [...]
SEOUL, Aug. 5 (Korea Bizwire) — Recent data has revealed that South Korea was the fifth-largest importer of European beer last year. The biggest export market for European Union (EU) beer last year was the United States, where a combined 1 billion liters of beer were exported, according to EU statistics agency Eurostat. This is [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea and Britain will hold working-level talks next week to chart their future partnership after British parliamentarians’ vote this week on their government’s deal to leave the European Union (EU), an official at Seoul’s foreign ministry said Monday. The director-general meeting is set for Jan. 23 after the [...]
BRUSSELS, Dec. 14 (Korea Bizwire) — The European Union has said South Korea could be off its tax haven blacklist as soon as late January, if the country promises to amend or scrap tax breaks for international companies. South Korea was branded as a tax haven along with 16 other countries including Mongolia and Namibia according [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s foreign ministry said Thursday it plans to persuade the European Union (EU) to exclude Asia’s fourth-largest economy from the EU’s new blacklist of tax havens. On Tuesday, the EU unveiled a list of 17 noncooperative tax jurisdictions including South Korea, Macau and the Marshall Islands, saying that [...]
SEOUL, Aug. 22 (Korea Bizwire) – The former head of Lone Star Korea Steven Lee has been arrested in Italy after twelve years on the run. The 48-year old American citizen was apprehended by police earlier this month, according to the Ministry of Justice. His wanted status stems from questions over his role at the [...]
SEOUL, Aug. 11 (Korea Bizwire) — The European Union’s recent acknowledgement that large-scale shipments of eggs from Belgium and the Netherlands may have been contaminated by a pesticide has stores and markets rethinking the sales value of Belgian waffles. The pesticide, Fipronil, is believed to be hazardous to humans. So far, Germany, England, Sweden, Switzerland [...]
SEOUL, Aug. 5 (Korea Bizwire) — Korea is expected to implement the third stage of law market reforms permitting the establishment of joint venture law firms between local firms and foreign law firms according to free trade agreements with the European Union and the United States. The Ministry of Justice announced on August 4 that it [...]
SEOUL, May 7 (Korea Bizwire) — China became South Korea’s second-largest investment destination last year, relegating the European Union (EU) to the third spot, central bank data showed Thursday. South Korea’s external investment, which includes stocks and bonds, reached US$716.6 billion at the end of last year, up $95.5 billion from the previous year, according to [...]