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Iraq Bulletin

Tag : Seoul

Business

Korea Africa chart new course AI digital infrastructure in Seoul

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South Korea and African partner nations will launch a major economic cooperation framework focused on artificial intelligence and technology-driven development at the 8th Korea-Africa Economic Cooperation Ministerial Conference in Seoul. The upcoming ministerial gathering marks the 20th anniversary of the...
Travel

South Korea tourism surplus reaches post-pandemic high

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South Korea recorded a $596.6 million tourism surplus in June 2026, its strongest monthly result since the COVID-19 pandemic. The figure marked a $1.44 billion improvement from June 2025, when the balance showed an $846.8 million deficit. Korea Tourism Organization...
Technology

Samsung sets 2029 start for first Yongin semiconductor plant

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Samsung Electronics plans to start operations at its first chip plant in Yongin in 2029. The revised target brings the opening forward by one to two years from the earlier 2030 to 2031 schedule. The facility will anchor Samsung’s planned...
Technology

South Korea launches $665.5 million industrial growth fund

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South Korea has launched a 1.115 trillion won, or about US$665.5 million, Industrial Growth Fund to expand financing for manufacturing innovation, artificial intelligence adoption and technology  commercialization across key industries. The fund was introduced on May 18 at an industrial...
Business

South Korea retail sales climb 5.6% in March

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SEOUL: Sales at South Korea’s major retailers rose 5.6% from a year earlier in March, extending gains in consumer spending as online platforms outpaced store-based outlets and department stores benefited from seasonal demand. The Ministry of Trade, Industry and Energy...
Business

South Korea retail sales climb 5.6% in March

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SEOUL: Sales at South Korea’s major retailers rose 5.6% from a year earlier in March, extending gains in consumer spending as online platforms outpaced store-based outlets and department stores benefited from seasonal demand. The Ministry of Trade, Industry and Energy...
Automotive

Mercedes-Benz unveils electric C-Class in Seoul

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SEOUL: Mercedes-Benz on Monday unveiled the all-new electric C-Class at a world premiere in Seoul, introducing the first battery-electric version of one of its best-known sedan nameplates and placing one of the brand’s core products into the premium EV market. The launch...
Business

RideFlux wins South Korea’s first paid freight permit

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SEOUL: South Korea has approved its first paid self-driving freight transport service, authorizing autonomous driving startup RideFlux to begin commercial cargo operations on a long-distance route linking Seoul and Jincheon. The Ministry of Land, Infrastructure and Transport said the service is scheduled to...
Business

Bank of Korea keeps rate at 2.5% for seventh hold

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SEOUL: The Bank of Korea held its benchmark interest rate at 2.50% on Friday, extending a pause that began in July 2025 and marking a seventh straight policy meeting without a change, as policymakers weighed rising inflation pressure, weaker growth risks and heightened...
Business

South Korea FX reserves fall in March on stronger dollar

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SEOUL: South Korea’s foreign exchange reserves fell in March as a stronger U.S. dollar reduced the converted value of non-dollar assets and authorities used reserves in operations to ease currency-market strain, central bank data showed on Friday. Official reserves stood at $423.66...