SEOUL, July 31 (Korea Bizwire) — South Korea’s offer to help revitalize the United States’ shipbuilding industry was a key to reaching a tariff deal with the Donald Trump administration, Seoul’s trade minister said Thursday, also highlighting a “key role” U.S. Secretary of Commerce Howard Lutnick played in securing the last-minute deal. “I think the [...]
SEOUL, July 31 (Korea Bizwire) — South Korea has agreed to purchase US$100 billion worth of liquefied natural gas (LNG) and other energy products from the United States over the next four years under a tariff deal, U.S. President Donald Trump’s administration announced Thursday. However, the plan does not involve purchasing Alaskan LNG or participation [...]
SEOUL, July 31 (Korea Bizwire) — National Assembly Speaker Woo Won-shik on Thursday welcomed a new tariff deal between South Korea and the United States, vowing to spare no effort in providing legislative support. Woo made the remark in a Facebook post after the South Korean delegation reached the deal with the administration of U.S. [...]
SEOUL, July 31 (Korea Bizwire) — South Korean farmers and civic groups on Thursday welcomed the exclusion of rice and beef from the nation’s latest trade deal with the United States. “The government emphasized that there will be no further opening of rice and beef markets,” they said in a statement issued during a rally [...]
SEOUL, July 30 (Korea Bizwire) — South Korea and the United States are continuing last-minute trade negotiations on areas including semiconductors, batteries and biotechnology on top of in-depth discussions on shipbuilding cooperation, the presidential office said Wednesday. Kim Yong-bum, the presidential chief of staff for policy, made the remarks as top Seoul officials are visiting [...]
SEOUL, July 29 (Korea Bizwire) — Samsung Electronics Co. Chairman Lee Jae-yong on Tuesday departed for the United States, raising speculation that he may support ongoing trade talks between Seoul and Washington ahead of a key negotiation deadline this week. Lee arrived at Seoul Gimpo Business Aviation Center in western Seoul around 3:50 p.m. and [...]
SEOUL, July 17 (Korea Bizwire) — Industry Minister nominee Kim Jung-kwan on Thursday pledged to mobilize all available resources to boost exports and spur economic growth, while vowing to pursue “pragmatic” trade policies in response to the United States’ aggressive tariff scheme. Kim made the commitment during his parliamentary confirmation hearing, after being nominated as [...]
SEOUL, July 2 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. said Wednesday their combined vehicle sales in the United States rose 0.9 percent in June from a year earlier, with growth slowing from the previous month amid ongoing concerns over U.S. auto tariffs. The two automakers sold a total of [...]
SEOUL, July 1 (Korea Bizwire) — South Korean stocks rose for a second straight session Tuesday as investors welcomed signs of progress in trade talks over the United States’ tariff scheme and were keen on a potential revision of a shareholders-friendly law. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock [...]
SEOUL, June 2 (Korea Bizwire) – South Korean stocks finished slightly higher Monday, as investors took a wait-and-see posture ahead of the crucial presidential election amid signs of renewed trade tensions between the United States and China. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.3 [...]