SEOUL, Jan. 8 (Korea Bizwire) – Hyundai Steel Co. is reviewing constructing an automotive steel mill in the United States to respond to the incoming Donald Trump administration’s protectionist policies, industry sources said Wednesday. The steel-making unit of South Korea’s auto giant Hyundai Motor Group has discussed the estimated 10 trillion won (US$6.9 billion) investment [...]
SEOUL, Jan. 8 (Korea Bizwire) — Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, and a group of other South Korean business leaders will attend U.S. President-elect Donald Trump’s inauguration ceremony later this month, officials said Wednesday. Chung has been invited to the inauguration ceremony slated for Jan. 20 (U.S. time) in Washington, [...]
SEOUL, Dec. 24 (Korea Bizwire) — A recent Bank of Korea survey reveals that one in three major South Korean export companies anticipates a decrease in exports next year, citing intensifying competition from China and potential impacts from a second Trump administration among key concerns. According to the central bank’s regional economic report released on December [...]
WASHINGTON, Dec. 17 (Korea Bizwire) — A prominent U.S. expert has expressed his hope for Acting President Han Duck-soo to be a “source of stability” amid South Korea’s political turmoil, but warned that absent a fully elected president, Seoul could face a disadvantage in engaging with the administration of incoming U.S. President Donald Trump. Victor [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea will make sure it has plans in place to engage with the incoming U.S. administration under President-elect Donald Trump, should stalled nuclear talks with North Korea resume, Seoul’s top diplomat said Wednesday. Foreign Minister Cho Tae-yul made the remarks in a press conference with foreign correspondents in [...]
SEOUL, Dec. 17 (Korea Bizwire) — Back in presidency, Donald Trump is expected to reopen direct talks with North Korean leader Kim Jong-un to address escalating military threats from the North. But clinching a deal would depend on whether Washington is willing to recognize Pyongyang as a nuclear state, experts said. Tackling security threats involving [...]
SEOUL, Dec. 11 (Korea Bizwire) — The South Korean and American business communities have urged their governments to ensure the stability of business activities of Korean companies in the United States amid rising economic and political uncertainties ahead of Donald Trump’s second term. At the 35th Korea-U.S. Business Council and the U.S.-Korea Business Council in [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korean electronics manufacturers are closely monitoring potential trade policy shifts as President-elect Donald Trump continues to emphasize the importance of high tariffs on Korean-made washing machines. Industry observers are particularly concerned about Trump’s campaign promise to impose a universal 10-20% tariff on all imports, which could affect the entire range [...]
SEJONG, Dec. 10 (Korea Bizwire) — South Korea’s trade ministry said Tuesday it will work closely with related government agencies and local businesses to avoid any disruptions in preparing for the launch of the new U.S. administration amid ongoing domestic political turmoil. Trade Minister Cheong In-kyo discussed such strategies with trade and international relations experts [...]
WASHINGTON, Dec. 1 (Korea Bizwire) — The South Korean Embassy in the United States has hired a public strategy company previously associated with President-elect Donald Trump’s chief of staff nominee, a move seen as aiming to enhance communication with Trump’s team. According to the U.S. Department of Justice on Sunday, Mercury Public Affairs reported its [...]