SEOUL, Oct. 29 (Korea Bizwire) — South Korea has never provided lethal weapons to Ukraine, President Yoon Suk-yeol said Friday, after Russian President Vladimir Putin warned of negative consequences for the two countries’ relations if Seoul sent arms to Ukraine. Putin said Thursday that he was aware South Korea has decided to supply weapons and [...]
SEOUL, Oct. 1 (Korea Bizwire) — The South Korean government said Saturday it does not recognize Russia’s recent annexation of Ukrainian territory as legitimate while strongly condemning Moscow’s invasion of the eastern European country. On Friday, Russian President Vladimir Putin signed treaties to annex four regions in Ukraine, following referendums in the territory late last [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korea has decided to cancel plans to launch satellites using Russian rockets later this year amid the international community’s sanctions on Russia’s space program over the Ukrainian war, a government document showed Wednesday. The government had planned to launch the Korea Multipurpose Satellite 6, known as the Arirang [...]
SEOUL, July 14 (Korea Bizwire) — North Korea has formally recognized the independence of two pro-Russian separatist “people’s republics” in eastern Ukraine, becoming the world’s third nation to do so, according to the North’s state media Thursday. The North’s Foreign Minister Choe Son-hui sent letters to her counterparts in the Donetsk People’s Republic and the [...]
SEOUL, June 18 (Korea Bizwire) — South Korea’s foreign ministry said Saturday it is ascertaining the veracity of the Russian defense ministry’s data that showed four of its nationals who volunteered to fight alongside Ukrainian forces have died. “We are aware of Russia’s defense ministry’s data,” an official with the foreign ministry said. “We have [...]
SEOUL, April 21 (Korea Bizwire) — Korean Air Lines Co., South Korea’s national flag carrier, said Thursday it was slapped with a fine of 110 billion won (US$89 million) in Russia due to the omission of its departure process at a Moscow airport a year ago. Russia’s customs authorities imposed the fine, arguing Korean Air’s [...]
SEOUL, March 20 (Korea Bizwire) — South Korean tech giant LG Electronics Inc. said Sunday it has suspended shipments to Russia due to difficulties in the global offshore logistics. LG said in a statement that it is “suspending all shipments to Russia and will continue to keep a close watch on the situation as it [...]
SEOUL, March 15 (Korea Bizwire) — South Korean national flag carrier Korean Air Lines Co. said Tuesday it will suspend routes to Russia until the end of April due to safety concerns involving Russia’s invasion of Ukraine. Korean Air will temporarily halt the operation of passenger jets to Moscow and Vladivostok, and cargo planes that [...]
SEOUL, March 14 (Korea Bizwire) — With an increasing number of global companies pulling back from Russia, Hyundai Motor Group is facing a dilemma in a country where it has been enjoying solid performance. The group has Hyundai Motor Co., its independent Genesis brand, and affiliate Kia Corp., under its wing. In 2021, Kia sold [...]
SEOUL, March 8 (Korea Bizwire) — South Korean companies with business ties with Russia will likely be hit by Moscow’s retaliatory moves to allow Russian companies to make payments to foreign creditors in the Russian currency. Moscow announced a list of a few dozens of “unfriendly” nations on Monday, including South Korea, the United States, [...]