At a briefing at the Blue House, President Lee Jae-myung announced that cooking oil and ramen manufacturers plan to lower prices on some products by up to double digits starting with shipments next month. He thanked the firms for joining the effort to address the crisis. The president said price

The U.S. Trade Representative said it has opened a Section 301 investigation into 16 economies to lay the groundwork for possible additional tariffs after the dissolution of reciprocal tariffs. The action targets Korea, China, Japan, Taiwan, the European Union, India, and other partners. Among the 16 economies named are

Wonju, a city in Gangwon Province, has been selected by South Korea’s Ministry of Land, Infrastructure and Transport to participate in the 2026 Drone Demonstration City Construction Project. It is the only Gangwon local government chosen in Korea’s K-drone delivery track for two consecutive years. The city will

Ukraine has completed development of drones without Chinese components, with the aim of arming its forces largely from domestic parts and Europe-supplied pieces as needed. The move follows a period when China’s export controls on drone parts and the retreat of major suppliers to Ukraine and Russia left Kyiv

Korean Air Lines announced on March 12 that it will acquire the entire 80% stake in CNDS, the company that handles its in-flight meals and onboard duty-free sales, from Han & Company, a domestic private-equity firm. Korean Air already owns 20% of CNDS, and the deal values the Han &

Seoul — Nam Kyung-ju, a 62-year-old veteran of Korea’s musical theatre scene who is regarded as a first-generation star, has been forwarded to prosecutors on charges of rape by force. As the case unfolds, Hongik University, where he serves as an associate professor in the Performing Arts Department, is reviewing

South Korea’s competition watchdog, the Korea Fair Trade Commission (KFTC), has moved to sanction nine pork suppliers for colluding to fix bidding or quotation prices when delivering pork to Emart, one of the country’s largest discount retailers. This marks the first public sanctions by the KFTC linked to

South Korea’s president, Lee Jae-myung, said on March 12 that he deeply appreciated the National Assembly for passing the Special Act on U.S. Investment. He spoke at a meeting of senior presidential aides at Cheong Wa Dae, the presidential complex in Seoul. The president described the passage as

POSCO FutureM and U.S. silicon anode developer Sila Nanotechnologies agreed to collaborate on advanced battery materials, signing a memorandum of understanding at InterBattery 2026 in Seoul’s COEX convention center on June 11. The deal underscores joint efforts to push next‑generation battery tech beyond traditional graphite anodes. Sila,

President Donald Trump said on Truth Social on Thursday that while rising global oil prices benefit the United States as the world’s largest oil producer, preventing Iran from obtaining a nuclear weapon is a higher priority. In the post, he argued that “the United States is the world’s