SEOUL, Nov. 18 (Korea Bizwire) — A new long-range radar system developed with homegrown technology has been approved for combat suitability, the state arms procurement agency said Monday, with the equipment expected to bolster surveillance of aircraft in the country’s air defense identification zone (KADIZ). The new radar system is capable of conducting around-the-clock surveillance [...]
SEOUL, Nov. 11 (Korea Bizwire) — Armed with some of the brightest young stars and top closers in its domestic league, South Korea will eye a berth in the final four at the upcoming international baseball tournament in Taipei. Starting Wednesday, South Korea will compete in the third edition of the World Baseball Softball Confederation [...]
SEOUL, Nov. 7 (Korea Bizwire) – The South Korean government is set to lower barriers for foreign investment in the Saemangeum reclamation project, one of the country’s largest infrastructure developments, according to a joint announcement on November 6 by the Ministry of Land, Infrastructure and Transport and the Saemangeum Development and Investment Agency. Under current regulations, [...]
SEOUL, Nov. 4 (Korea Bizwire) — Top industry officials of South Korea and Qatar agreed Monday to maintain strong cooperation on energy supplies amid geopolitical tensions and expand their ties into a wide range of energy and shipbuilding sectors, Seoul’s industry ministry said. South Korea’s Industry Minister Ahn Duk-geun and Qatar’s Minister of State for [...]
SEOUL, Nov. 1 (Korea Bizwire) — The navies of South Korea and the United States have agreed to create a joint cooperative group on maritime science and technology, officials said Friday, amid efforts to deepen bilateral defense and technology ties. Representatives from the two sides signed an initial agreement to form the Maritime Science, Technology [...]
SEOUL, Oct. 25 (Korea Bizwire) – South Korea is set to maintain its economic edge over Japan and Taiwan in per capita GDP this year, according to recent International Monetary Fund projections, with forecasts suggesting it will surpass the $40,000 milestone by 2027. In its World Economic Outlook report released on October 22, the IMF projected [...]
CHEONAN, Oct. 23 (Korea Bizwire) – “You won’t find bathrooms like this in Paris. These are facilities you’d expect in a five-star hotel, but here in Korea, anyone can use them for free right in the middle of a highway. It’s truly amazing,” said Mikael, 39, a French tourist, giving a thumbs up after using the [...]
WASHINGTON, Oct. 14 (Korea Bizwire) — This year’s Nobel economics prize laureates on Monday applauded South Korea’s economic rise, a key subject of their research, but pointed out a set of challenges ahead, including the fast-graying population of Asia’s fourth largest economy. They also drew a stark contrast between the economic backwater of North Korea [...]
SEOUL, Oct. 9 (Korea Bizwire) — North Korea’s military said it will cut off all roads and railways connected to South Korea starting Wednesday and build “strong defense structures” in the areas in response to South Korea-U.S. military maneuvers. “A project will be launched first on October 9 to completely cut off roads and railways [...]
WASHINGTON, Oct. 2 (Korea Bizwire) — South Korean and U.S. officials on Wednesday expressed strong confidence over the present and future of the two countries’ evolving alliance, calling it “ironclad” and “unwavering,” as they celebrated the Korean National Day and Armed Forces Day in Washington on Wednesday. Their paean for the decadesold alliance came as [...]