RIYADH, Oct. 22 (Korea Bizwire) — South Korea and Saudi Arabia will sign 51 deals and memorandums of understanding (MOU) worth a total of US$15.6 billion on the occasion of South Korean President Yoon Suk Yeol’s state visit to the Arab country, his office said Sunday. Most of the agreements were signed Sunday during a [...]
SEOUL, Oct. 20 (Korea Bizwire) — The South Korean economy is forecast to be on a recovery track next year but the pace will be “very gradual” as China’s significant economic slowdown and a recession in the United States would hinder the growth of its exports, a senior Fitch Ratings analyst said Friday. Jeremy Zook, [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s state-run oil company said Friday it is inspecting the readiness of local storage facilities to prepare for a potential release of reserves should the ongoing Middle East crisis escalate. “If the crisis escalates, including a scenario of the war expanding to other parts of the Middle East, [...]
SEOUL, Oct. 20 (Korea Bizwire) – One out of every three adults in South Korea is obese, with the obesity rate for those in their 30s exceeding 50 percent. Regionally, Jeju Island has the highest obesity rate. On Wednesday, the Korea Disease Control and Prevention Agency (KDCA) unveiled the current trends in obesity rates reported by municipal [...]
SEOUL, Oct. 19 (Korea Bizwire) — Geopolitical risks stemming from the conflict between Israel and the Palestinian militant group Hamas are feared to cause a flare-up in inflation and ripple effects for the South Korean financial market and the real economy, the finance minister said Thursday. Choo Kyung-ho made the assessment during a parliamentary audit [...]
SEOUL, Oct. 19 (Korea Bizwire) — Foreign investors sold a net 1.71 trillion won (US$1.26 billion) worth of South Korean stocks in September, extending their selling spree for a second consecutive month, data showed Thursday. After the sell-off, foreigners owned some 663.7 trillion won worth of local stocks, or 26.7 percent of total market capitalization, [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea’s industry ministry said Wednesday the recently revised export controls on chips by the United States will have no significant impact on local businesses. Overnight, the U.S. Department of Commerce announced a set of rules to update and strengthen its restrictions on the export of advanced computing semiconductors to [...]
SEOUL, Oct. 18 (Korea Bizwire) — Most South Korean industries are likely to see a modest recovery next year, with rechargeable batteries, automobile and shipbuilding sectors expected to show robust growth, according to a think tank Wednesday. The Hana Institute of Finance stressed the need to prepare for China’s slowing growth, strengthening of global environmental [...]
SEOUL, Oct. 18 (Korea Bizwire) – Efforts are underway to install a full-scale replica of Noah’s Ark, constructed by a Dutch architect approximately ten years ago, in South Korea. According to an official from the Korea Noah’s Ark Attraction Committee, composed of Christian figures, Dutch architect Johan Huibers expressed his intention to donate Noah’s Ark, completed in [...]
WASHINGTON, Oct. 16 (Korea Bizwire) — South Korea, the United States and Japan established a trilateral communication hotline, a senior Seoul official said Monday, in another sign of progress in their three-way security cooperation amid North Korea’s evolving military threats and China’s increasing assertiveness. The establishment of the hotline came after President Yoon Suk Yeol [...]