Seoul, April 27 (IANS) South Korea’s antitrust regulator on Monday ordered changes to unfair terms used by seven major e-commerce platforms, aiming to better protect consumer rights.The Fair Trade Commission (FTC) said it reviewed user agreements and identified 11 types of unfair clauses across four main categories used by platforms operated by Coupang Inc., Naver Corp., Kurly Corp., SSG.com, Gmarket, 11Street and Nol Universe Co, reports Yonhap news agency.The companies agreed to revise the ter…
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Seoul, April 23 (IANS) South Korea is fully implementing its pledge not to discriminate against US digital companies in line with summit agreements between the two nations’ leaders, the foreign ministry said on Thursday, pushing back on US Republicans’ claims of Seoul’s “targeted assault” on American firms. The foreign ministry issued the statement after 54 Republican congressional members sent a letter to South Korean Ambassador Kang Kyung-wha, urging Seoul to cease what they describe as unwarr…
Seoul, March 8 (IANS) Industry Minister Kim Jung-kwan said on Sunday he has been told the United States is not likely to hike tariffs on South Korea if the National Assembly passes a special bill on Seoul’s $350 billion investment pledge to the US.Kim made the remarks upon arrival after visiting the U.S. to meet with Commerce Secretary Howard Lutnick to discuss tariff and bilateral trade issues following U.S. President Donald Trump’s threat in January to hike “reciprocal” tariffs and other dutie…
Seoul, March 7 (IANS) South Korea’s industry minister and trade chief visited the United States this week to coordinate responses to tariff issues and other pending trade matters between Seoul and Washington, the industry ministry said on Saturday.Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo met separately with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Friday (U.S. time) to discuss pending bilateral trade issues.The visit was arrange…
Washington, Jan 28 (IANS) US President Donald Trump has said that his administration will work “something” out with South Korea after he threatened earlier this week to raise “reciprocal” tariffs and other levies on the Asian ally.His remarks raised hopes for negotiations between Seoul and Washington to address their renewed trade tension as South Korea’s Industry Minister Kim Jung-kwan is expected to visit the United States for talks with Commerce Secretary Howard Lutnick, reports Yonhap news a…
Seoul, Jan 27 (IANS) US President Donald Trump’s surprise announcement to raise tariffs on South Korea appears to be aimed at pressuring the country to swiftly carry out its investment pledge to the United States amid domestic uncertainties, including the U.S. Supreme Court’s planned ruling on the legality of the tariffs, experts here said on Tuesday.Earlier in the day, Trump said in a social media post that he is raising “reciprocal” tariffs and auto duties on South Korea to 25 per cent from 15…
Seoul, Jan 26 (IANS) South Korea’s Unification Minister Chung Dong-young said on Monday that the government is reviewing sending a special envoy to neighboring countries to help facilitate dialogue between the United States and North Korea. “(The unification ministry) emphasised the need during its policy briefing to the president, and a review is currently under way,” Chung told reporters when asked whether the dispatch of a special envoy was being considered.During the briefing to President Le…
Seoul, Jan 1 (IANS) South Korea’s science ministry said on Thursday it will invest 8.12 trillion won ($5.6 billion) this year on research and development in science and information and communications technology.The budget, up 25.4 per cent from a year earlier, consists of 6.44 trillion won for science and technology and 1.68 trillion won for ICT, according to the Ministry of Science and ICT, reports Yonhap news agency.The ministry said the expanded spending is intended to promote innovation-led …
Seoul, Dec 29 (IANS) Personal information of employees at Korean Air, South Korea’s largest flag carrier, has been leaked after a partner firm supplying in-flight meals and onboard sales services was hit by a cyberattack, according to industry sources on Monday.According to the sources, Korean Air issued an internal notice earlier in the day informing employees that KC&D, the airline’s catering and onboard sales supplier, had recently suffered a cyberattack by a hacker group, reports Yonhap …