SEOUL, Dec. 6 (Korea Bizwire) — Organizers of the 2018 PyeongChang Winter Olympics said Wednesday they “respect” the decision by the International Olympic Committee (IOC) to ban Russia from the competition over its state-sponsored doping. The IOC’s Executive Board announced in Lausanne, Switzerland, that it would suspend the Russian Olympic Committee (ROC) with “immediate effect.” [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean retail giant Lotte Group said Friday that it has purchased a hotel and farm in Russia as it seeks to tap deeper into the overseas markets. Hotel Lotte, the lodging and accommodation arm of South Korea’s fifth-largest conglomerate with sprawling businesses in food, retail and construction, bought [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korea and Russia agreed Wednesday to cooperate closely in exploring Arctic sea routes, the foreign ministry here said. The two countries held their first Arctic Consultation in Seoul earlier in the day, headed by South Korean Amb. for Arctic Affairs Kim Young-jun and his Russian counterpart Amb. Vladimir [...]
VLADIVOSTOK, Sept. 7 (Korea Bizwire) — President Moon Jae-in on Thursday proposed expanding economic cooperation between South Korea and Russia in a wide range of areas, including energy, infrastructure and agriculture, noting those projects might set an example of co-prosperity for isolated North Korea. In his address to the third Eastern Economic Forum (EEF) in [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s leading automaker Hyundai Motors Co. said Tuesday it has unveiled a light truck designed for the local market at a Russian commercial car exhibition. Hyundai will promote the HD36L, a 2.5-liter diesel-powered light truck, at the 2017 Comtrans Commercial Vehicles Auto Show set to run this week [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korean President Moon Jae-in is set to visit Russia next week for a bilateral summit with his Russian counterpart Vladimir Putin and other heads of state, as well as a regional forum aimed at boosting economic cooperation in Northeast Asia that includes Russia’s Far East, an official from [...]
HANGZHOU, China, Aug. 4 (Korea Bizwire) — Alipay, the world’s largest online and mobile payment platform and lifestyle super app operated by Ant Financial Services Group, today announced its partnership with VTB Group, one of Russia’s leading banking groups. VTB Group has recently started merchant acquiring for Alipay payments service in its over-120,000-POS-device network, which [...]
SEOUL, June 7 (Korea Bizwire) – A monument of one of Russia’s most beloved poets, Alexander Sergeyevich Pushkin, was erected in front of Lotte Hotel Seoul in November 2013, an initiative of Korea-Russia Dialogue, a non-government group promoting binational exchanges. The site was offered by Lotte, which had been running multiple businesses in Russia since [...]
SEOUL, March 30 (Korea Bizwire) – Russia and China have recently adopted punitive measures affecting North Korea’s aviation industry in a bid to mount pressure on the regime following its series of military provocations, the foreign ministry here said Thursday. “Last May, the European Union banned North Korean airplanes or airplanes that depart from North [...]
SEOUL, March 16 (Korea Bizwire) – As China continues to withdraw its tourists from South Korea over a political issue surrounding the deployment of a THAAD missile defense system, South Korea’s tourism industry is looking to Russia to fill the gap left by what was once its biggest source of profits. According to the [...]