Category: South Korea

North Korea’s Kim Open to Restoring Communications With South Korea

September 30, 2021
Asia & PacificInternationalNorth KoreaSouth KoreaWorld
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North Korean leader Kim Jong Un on Thursday expressed a willingness to restore dormant communications with South Korea, days after Seoul called on Pyongyang to do so. His remarks come just days after North Korea fired a newly-developed hypersonic missile toward the Sea of Japan off its east coast, marking its third weapons test in just…

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South Korea Innovation to Invest $4.3 Billion in US Battery Production With Ford Motor

September 28, 2021
Asia & PacificbatteryBusiness & EconomyCompaniesEconomieseconomyinnovationLocal NewsMichiganproductionRegional-Local NewsSouth KoreaTechUSUS NewsWorld
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SEOUL—South Korea’s SK Innovation Co. Ltd plans to invest 5.1 trillion won ($4.32 billion) to build battery production facilities in the United States through its battery joint venture with Ford Motor Co. through 2027, the company said in a regulatory filing on Tuesday. The South Korean battery maker, which supplies electric car batteries to Ford…

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Ford, South Korea to Invest $11.4 Billion to Add Electric F-150 Plant, Three Battery Factories

September 28, 2021
Asia & PacificbatteryBusiness & EconomyCompaniesEconomieseconomyelectricfactoriesFordLocal NewsMichiganRegional-Local NewsSouth KoreaTechTech NewsUSUS NewsWorld
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DETROIT/SEOUL—Ford Motor Co. and its Korean battery partner SK Innovation will invest $11.4 billion to build an electric F-150 assembly plant and three battery plants in the United States, accelerating the U.S. automaker’s push into electric vehicles. Ford said on Monday it now expects to have 40 percent to 50 percent of its global vehicle…

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South Korean President Suggests Banning Dog Meat

September 27, 2021
Asia & Pacificdog meatSouth KoreaWorld
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South Korea’s president on Monday floated the idea of imposing a ban on eating dog meat, a traditional yet controversial practice decried by animal rights activists but defended by farmers who want to retain the right to raise dogs as livestock. The remarks from South Korean President Moon Jae-in came after he was briefed by the…

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North Korea Says Call to Declare End of Korean War Is Premature

September 24, 2021
Asia & PacificKorean WarNorth KoreaSouth KoreaWorld
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SEOUL—South Korea’s call to declare a formal end to the Korean War is premature as there is no guarantee it would lead to the withdrawal of the “U.S. hostile policy” toward Pyongyang, North Korea state media KCNA reported on Friday, citing Vice Foreign Minister Ri Thae Song. South Korea President Moon Jae-in on Tuesday repeated…

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Over 60 South Korean Crypto Exchanges Set to Suspend Services Next Week

September 17, 2021
Asia & PacificBusiness & EconomyCompaniescryptoexchangesservicesSouth KoreasuspendWorld
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SEOUL—More than 60 cryptocurrency exchanges in South Korea must notify customers of a partial or full suspension of trading by Friday midnight, a week before a new regulation comes into effect. To continue operating, exchanges must register with the Financial Intelligence Unit by Sept. 24, providing a security certificate from the internet security agency. They…

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Taliban Seeks Mining Cooperation With South Korea, China Upset

September 15, 2021
AfganistanAfghanistanChinaMiddle EastmineralSouth KoreaTalibanthe CCPWorld
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Afghanistan’s newly ensconced Taliban regime has been looking to China for major economic support, but the Taliban’s lithium-mining invitation to South Korea has displeased the Chinese Communist Party (CCP). To keep Beijing happy, the Taliban offered it copper mining rights. Enduring 20 years of war, Afghanistan is one of the poorest countries in the world….

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South Korea Jobless Rate Hits Record Low as Jobs for Public Sector, Part-Timers Grow

September 15, 2021
Asia & PacificBusiness & EconomyCompaniesEconomiesGrowjoblesslowpart-timerspublicrateSouth KoreaWorld
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SEOUL—South Korea’s August unemployment rate fell to the lowest on record, suggesting the economic recovery from the COVID-19 pandemic was on track, though a breakdown of data showed labour conditions in the key manufacturing sector remained weak. The seasonally adjusted unemployment rate in August dropped to 2.8 percent, Statistics Korea data showed on Wednesday, the…

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Google Says It Offers More Than $10 Billion in Consumer Benefits in South Korea

September 15, 2021
Asia & PacificbenefitsBusiness & EconomyCompaniesconsumerEconomieseconomyGoogleLocal NewsMedia & Big TechRegional-Local NewsSouth KoreaSouthern CaliforniaUSUS NewsWorld
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SEOUL—Alphabet Inc.’s Google said on Wednesday its presence in South Korea equates to nearly 12 trillion won ($10.16 billion) in economic benefits for its users, as the U.S. tech giant faces increased scrutiny from regulators and politicians. Google’s announcement came a day after South Korea’s antitrust agency fined Google 207 billion won for blocking customised…

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US, South Korea Trade Chiefs Discuss Strengthening Supply Chain

September 14, 2021
Asia & PacificBusiness & EconomychainChiefsEconomieseconomyExecutive Branchkatherine taiPoliticsSouth KoreasupplytradeUSUS NewsWorld
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WASHINGTON—U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo, in a meeting on Monday, emphasized the importance of working together to strengthen supply chains, including for semiconductors, the office of the USTR said in a statement.