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Monday, July 21, 2025

KOREA

Korea’s tax revenue to fall short by $44.5 billion, Finance Ministry says

Korea will collect 59.1 trillion won ($44.5 billion) less in tax this year than initially estimated due to dwindling corporate profits and the downturn...

Korean Gov’t to invest $1.65B to form industrial clusters, boost innovation

The government will invest 2.2 trillion won ($1.65 billion) over the next five years to build industrial clusters and enable small and medium-sized enterprises...

Korea an important partner, Germany’s new ambassador says

As geopolitical tensions grow, Germany sees Korea as an increasingly important partner in the Indo-Pacific region, Germany's incoming ambassador to Korea said at an event...

High-level defense talks discuss North’s growing threats

  Defense officials from South Korea and the United States met in Seoul on Monday for talks designed to bolster deterrence against North Korea’s advancing...

Gov’t ponders fuel tax cut extension amid soaring oil prices

The government will review the extension of a tax cut on fuel consumption, set to expire in October, as global oil prices grow to...

SK Group to invest 8 trillion won in Ulsan for green energy

SK Group Chairman Chey Tae-won reiterated the group's plan to invest 8 trillion won ($6 billion) in the city of Ulsan, mostly in green...

New ID verification system in Korea to allow foreigners to open bank accounts online

Foreigners will be able to open bank accounts online at more banks with the Ministry of Justice's new residence card verification system. Jeonbuk Bank, Hana...

South Korea, U.S. strengthen deterrence against North amid weapons deal concerns

South Korea and the United States vowed to elevate their deterrence against North Korea, the allies announced in a joint statement after defense talks...

Supplier’s employees found guilty of pirating SK hynix chip technology to China

A former executive at SK hynix supplier surnamed Shin has been found guilty of pirating confidential chip technology to China and sentenced to one...

Hanwha Aerospace UGV to undergo Pentagon testing in U.S.

Hanwha Aerospace will test its multipurpose unmanned ground vehicle (UGV) Arion-SMET at a U.S. Marine Corps training center in O’ahu, Hawaii. Hanwha Aerospace signed a...