Middle East Archives | Be Korea-savvy
Gov’t Conducts Emergency Review Of Oil, Gas Supplies Amid Rising Tensions In Middle East

Gov’t Conducts Emergency Review Of Oil, Gas Supplies Amid Rising Tensions In Middle East

SEOUL, June 13 (Korea Bizwire) — The government conducted an emergency review of the country’s oil and gas supplies Friday amid escalating tensions in the Middle East following Israel’s strike on Iran, the industry ministry said, adding the country faces no immediate problem. The Ministry of Trade, Industry and Energy held the meeting with officials [...]

South Korean Pharmaceutical Companies Make Bold Push Into the Middle East

South Korean Pharmaceutical Companies Make Bold Push Into the Middle East

SEOUL, Feb. 27 (Korea Bizwire) — South Korean pharmaceutical and biotech companies are rapidly expanding their presence in the Middle Eastern market, capitalizing on the region’s growing healthcare demands and high-income population.  Daewoong Pharmaceutical recently launched its botulinum toxin product, Nabota, in Saudi Arabia, a market known for its stringent entry barriers for such products. The company [...]

South Korean Tech Giants Accelerate Middle East Expansion, Led by Naver’s Saudi Push

South Korean Tech Giants Accelerate Middle East Expansion, Led by Naver’s Saudi Push

SEOUL, Oct. 28 (Korea Bizwire) – South Korean technology companies are rapidly expanding their presence in the Middle East, focusing on artificial intelligence (AI), cloud computing, and cybersecurity initiatives.  Naver, South Korea’s leading IT platform company, is spearheading this expansion. The company announced on September 23 that it plans to establish “NAVER Arabia,” its Middle East [...]

Builders Win US$10 Bln in Orders from Middle East in Jan.-May

Builders Win US$10 Bln in Orders from Middle East in Jan.-May

SEOUL, Jun. 11 (Korea Bizwire) — Domestic construction companies’ combined orders from the Middle East amounted to nearly US$10 billion so far this year, recording stellar growth from 2023, industry data showed Tuesday. According to the data from the International Contractors Association of Korea, domestic builders’ project orders from the Middle East amounted to $9.98 [...]

S. Korea Vows Thorough Market Monitoring, Immediate Responses to Middle East Crisis

S. Korea Vows Thorough Market Monitoring, Immediate Responses to Middle East Crisis

SEOUL, Apr. 23 (Korea Bizwire) — Finance Minister Choi Sang-mok met with experts of economic and international affairs Tuesday and discussed responses to growing uncertainties in the Middle East, the finance ministry said. During a meeting of the international economic advisory panel in Seoul, experts called on the government to “check developments and assess potential [...]

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

S. Korea to Extend Fuel Tax Cut through June amid Middle East Tensions

SEOUL, Apr. 15 (Korea Bizwire) – The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the consumption [...]

Middle East Instability, Russia’s War Raise Questions over U.S. Ability to Address Multiple Crises

Middle East Instability, Russia’s War Raise Questions over U.S. Ability to Address Multiple Crises

WASHINGTON, Nov. 2 (Korea Bizwire) — Escalating tensions in the Middle East and Russia’s protracted war in Ukraine are raising anew consequential security questions over whether the United States can respond to a third crisis concurrently should it arise on the Korean Peninsula, the Taiwan Strait or elsewhere. After the war between Israel and Hamas [...]