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 [...]
SEOUL, Sept. 26 (Korea Bizwire) — President Yoon Suk Yeol said Thursday the government and the private sector will join hands to make full-scale efforts to boost South Korea’s artificial intelligence (AI) capabilities to expand its presence in the global AI sector. Yoon set a target for South Korea to become one of the world’s [...]
SEOUL, Sept. 18 (Korea Bizwire) – For Ahmed Lababidi, a 31-year-old Syrian refugee who fled forced military conscription in 2012, January marked a bittersweet milestone. After 12 years in South Korea, Lababidi, who uses the Korean name La Yeonu, finally reunited with his family in Turkey, only to find that time had transformed them into near-strangers. [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea and Ethiopia have held a policy consultation meeting on envisioned joint projects in energy, transportation and health care fields through the cooperation fund, Seoul’s finance ministry said Wednesday. During the meeting held in Addis Ababa on Tuesday, the two nations chose energy, transportation and health and medical [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s economy is showing signs of a downturn, with domestic demand struggling to gain momentum. Analysts attribute this trend to the reduction in household discretionary income, a consequence of high interest rates and inflation. According to data from the Korean Statistical Information Service (KOSIS) released on September 2, the [...]
WASHINGTON, Aug. 15 (Korea Bizwire) — A White House official on Thursday suggested the possibility of holding a trilateral summit among the leaders of South Korea, the United States and Japan by the end of this year, following the historic Camp David summit last year. Mira Rapp-Hooper, the senior director for East Asia and Oceania [...]
SEOUL, Jul. 30 (Korea Bizwire) — South Korea and China have agreed to continue communications to ensure stable supply chains and spur bilateral trade and investment during their economic talks in Beijing, Seoul’s foreign ministry said Tuesday. Kim Jin-dong, director-general for bilateral economic affairs at the ministry, met with his Chinese counterpart, Wang Liping, on [...]
SEOUL, Jul. 30 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it has discussed ways to broaden economic exchanges with Saudi Arabia, pledging to work closely toward the prompt implementation of a free trade pact between Seoul and the Gulf Cooperation Council (GCC). Industry Minister Ahn Duk-geun met with his Saudi counterpart, Majid bin [...]