SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — A former head of South Korea’s financial regulator has been appointed as the country’s representative tasked with promoting its economic and financial standing, the foreign ministry said Friday. Choi Jong-ku, a veteran technocrat and a former chairman of the Financial Services Commission (FSC), will serve as the ambassador-at-large for [...]
SEOUL, Dec. 27 (Korea Bizwire) — The South Korean government is set to intensify its efforts to reduce wildlife roadkill by designating and managing 100 high-risk road segments, up from the previous 50, according to a joint announcement by the Ministry of Environment and the Ministry of Land, Infrastructure and Transport on December 26. The new [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s demand for hydrogen fuel in the mobility sector jumped 64 percent in 2024 from a year earlier, driven by the increasing number of hydrogen buses in the country, data showed Friday. The country’s hydrogen fuel demand in the mobility sector reached 9,499 tons this year, compared with [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s elderly population is grappling with insufficient pension income, as nearly half of recipients receive less than 420,000 won ($290) monthly, according to a report released by Statistics Korea on Thursday. While 90% of the country’s seniors aged 65 and older collect at least one type of pension, [...]
SEOUL, Dec. 27 (Korea Bizwire) — Shinsegae Group has announced a strategic partnership with China’s Alibaba Group, forming a joint venture to bolster its position in South Korea’s highly competitive e-commerce market. The new entity, “Grand Opus Holding,” will launch in 2025 with equal ownership between Shinsegae and Alibaba’s international subsidiary. The partnership integrates Shinsegae’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — BSS, a subunit of popular boy group Seventeen, will return with its second single next month, the group’s agency said Friday. The subunit of Seungkwan, Dokyeom and Hoshi will release “Teleparty” on Jan. 8, Pledis Entertainment said. BSS, through the single, will convey the message that “If you’re happy [...]
SEOUL, Dec. 27 (Korea Bizwire) — President Yoon Suk Yeol has appointed a legal defense team to handle his impeachment trial and investigations related to his brief imposition of martial law, his representatives said Friday. Bae Bo-yoon, a former Constitutional Court scholar who worked as a court spokesperson during the impeachment trial of former President [...]
SEOUL, Dec. 27 (Korea Bizwire) — Hanwha Systems Co. said Friday it will export arms control systems for the K11 fire command armored vehicle and the upgraded K9A1 self-propelled howitzer to Egypt. Hanwha Systems said it will supply the fire command system for 51 K11 units and the fire control system for 216 K9A1 units, [...]
SEOUL, Dec. 27 (Korea Bizwire) — Ukrainian forces have likely captured a North Korean soldier in what could be the first instance of its kind, a Ukrainian news report has said, as North Korean troops were fighting alongside Russia against Ukraine. Ukraine’s special operations troops reportedly took the soldier during operations in Russia’s western front-line [...]