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A US livestock industry group has denounced South Korea’s ban on importing US beef from cattle older than 30 months, labeling it an "unfair trade practice" and urging President Donald Trump’s administration to push for its removal. On Wednesday, the Office of the United States Trade Representative submitted an opinion letter addressing unfair trade practices by US trading partners, drafted by the National Cattlemen’s Beef Association. In the letter’s section on Korea, the NCBA acknowledged that
Samsung in search of lobbying experts with strong ties to Trump With US President Donald Trump escalating threats of tariffs and trade restrictions, South Korean conglomerates are rushing to revamp their Washington offices to establish direct connections with the new administration. Samsung Electronics, the world's leading smartphone and semiconductor maker, is considering appointing a new head for its US office and is actively seeking experts with strong ties to Trump. "We are actively looking
Acting President Choi Sang-mok said Tuesday that South Korea and the US will soon enter into detailed negotiations on new US tariffs, as the country's economy is likely to be directly impacted by President Donald Trump's tariffs. Choi noted that Trump threatened to exert all-out pressure on Korea in a recent speech to the US Congress, labeling the Korea-US trade relationship as "unfair" and calling for the revocation of federal subsidies promised to semiconductor companies. “The arrow of Trump's
Washington touts tariff wins based on reports of global firms considering bolstering production in US The White House has listed Samsung, LG and Hyundai Motor Company as examples of US President Donald Trump’s tariffs' success, promoting Washington’s America-first policy to impose 25 percent tariffs on Canada and Mexico and upcoming tariffs on other countries that may include South Korea. “President Donald J. Trump’s tariffs are already working as more and more companies look at ‘expanding their
Opposition leader’s state-owned tech proposal faces reality check South Korean opposition leader Lee Jae-myung’s recent proposal to establish a big tech company akin to Nvidia, but one that is state-backed and profit would be distributed among citizens, has sparked a heated debate among business and political circles here. “If a company like Nvidia were to be established (in Korea), with 70 percent of shares privately owned and 30 percent distributed among citizens, wouldn’t a society emerge tha
South Korea’s overall economic freedom ranking fell to 17th from 14th in this year’s Heritage Foundation Index of Economic Freedom, with its lowest score in the labor market category, where it ranked 100th. According to the Korea Enterprises Federation on Monday, the 2025 Index of Economic Freedom, published by the conservative US think tank the Heritage Foundation, gave South Korea an overall score of 74 out of 100 — an increase from 73.1 the previous year. However, the country dropped three sp
The number of self-employed individuals in Korea has plunged to crisis levels, with 2024 marking the first annual decline in three years. While sluggish domestic demand is a key factor, experts note the downturn is part of a broader structural shift reshaping the economy. According to Statistics Korea, the self-employed population stood at 5.5 million in January, down more than 200,000 from the previous two months. On an annual basis, the self-employed population fell to 5.66 million in 2024, a
Trump's exaggeration seen as strategic move to pressure Korea on trade, security US President Donald Trump's March 4 claim that South Korea levies tariffs four times higher than those of the US has sparked controversy about its accuracy as well as concerns about the possible intent behind the statement. “China’s average tariff on our products is twice what we charge them, and South Korea’s average tariff is four times higher,” Trump said in a speech at a joint session of Congress last week. “Thi
Prolonged political turmoil leaves Korean firms without US negotiating power South Korean chipmakers are in a tough spot as US President Donald Trump threatens to revoke the federal subsidies pledged to them for building advanced semiconductor production facilities in the US, escalating his attacks on his predecessor’s chip support program. Although some view Trump’s remarks as political posturing aimed at pressuring chipmakers to invest more, companies that have already committed tens of billio
Chung Ki-sun, executive vice chairman of Korean shipbuilding conglomerate HD Hyundai, recently visited the US Naval Academy in Maryland, the company announced Sunday. During his visit on Friday, Chung met with key academy officials, including Superintendent Vice Admiral Yvette M. Davids and Academic Dean Samara Firebaugh. He also toured the academy’s hull structure class and fluid dynamics laboratory, engaging with faculty and students in discussions about the future of the naval industry. "Sout
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Posco International joins global efforts for biodiversity
CJ's Miky Lee honored with Global Citizen Award
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