SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s business sentiment index remained pessimistic for May due to uncertainties caused by fresh tensions in the Middle East and persistent inflationary pressure, a poll showed Wednesday. The business survey index (BSI) for the country’s top 600 companies by sales stood at 94.9 for next month, down 3.7 [...]
SEOUL, Apr. 23 (Korea Bizwire) — Finance Minister Choi Sang-mok met with experts of economic and international affairs Tuesday and discussed responses to growing uncertainties in the Middle East, the finance ministry said. During a meeting of the international economic advisory panel in Seoul, experts called on the government to “check developments and assess potential [...]
SEOUL, Apr. 15 (Korea Bizwire) – The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the consumption [...]
WASHINGTON, Nov. 2 (Korea Bizwire) — Escalating tensions in the Middle East and Russia’s protracted war in Ukraine are raising anew consequential security questions over whether the United States can respond to a third crisis concurrently should it arise on the Korean Peninsula, the Taiwan Strait or elsewhere. After the war between Israel and Hamas [...]
DOHA, Oct. 24 (Korea Bizwire) — South Korean President Yoon Suk Yeol on Tuesday pitched his country’s appeal as an investment and business partner for the Middle East. In a speech during the Future Investment Initiative forum in Riyadh, dubbed “Davos in the Desert,” Yoon said South Korea can be trusted, has cutting-edge industries, and [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s state-run oil company said Friday it is inspecting the readiness of local storage facilities to prepare for a potential release of reserves should the ongoing Middle East crisis escalate. “If the crisis escalates, including a scenario of the war expanding to other parts of the Middle East, [...]
SEOUL, Oct. 20 (Korea Bizwire) — Hyundai Motor Group on Friday unveiled a goal to sell over 550,000 vehicles annually in the Middle East by 2030, with the aim of acquiring a 20 percent share of the regional market. The group said in its newly announced mid- to long-term business vision for the Middle East [...]
SEOUL, June 12 (Korea Bizwire) — In a bid to foster cultural exchanges and introduce Korean arts to the local communities, a series of captivating “hallyu” (Korean wave) cultural events unfolded in the heart of the Middle East, specifically the United Arab Emirates (UAE) and Oman. The Embassy of the Republic of Korea in Oman, [...]
SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s imports of crude oil from the Middle East increased sharply this year amid the international ban on imports of Russian oil, data showed Wednesday. The share of Middle East in the nation’s crude imports stood at 67.1 percent in the first ten months of this year, up [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea on Friday launched a council involving both government and private sectors meant to jointly seek ways to promote corporate advancement into the Middle East, the industry ministry said. The council on the Korea-Middle East economic and trade cooperation will discuss how to actively participate in various projects [...]