WASHINGTON, Dec. 16 (Korea Bizwire) — The United States believes North Korea has suffered some “significant” troop losses during combat alongside Russian forces against Ukraine, a White House official confirmed Monday, noting the troops were seen moving from the second lines on the battlefield to the front lines. National Security Communications Adviser John Kirby made [...]
SEOUL, Dec. 17 (Korea Bizwire) — Nigeria was set to reopen its embassy in North Korea following years of closure over the COVID-19 pandemic, the Russian Embassy in Pyongyang has said, a move seen as making it the first African country to resume diplomatic activities in the North. Patrick Imodu Imologhome, Nigeria’s charge d’affaires, disclosed [...]
SEJONG, Dec. 17 (Korea Bizwire) — A drillship participating in a major gas and oil development project in the East Sea arrived at its first drilling site Tuesday, as it prepares to begin exploration operations amid growing uncertainties in the project due to domestic political situations, according to industry sources. The West Capella, operated by [...]
SEOUL, Dec. 17 (Yonhap) — South Korea’s antitrust regulator said Tuesday it has fined Kakao Mobility Corp., the operator of the country’s top taxi-hailing service, 15.1 billion won (US$10.5 million) for unfair business practices. Kakao Mobility is accused of manipulating its algorithm to direct more ride requests received through its mobile taxi application to cabs under its [...]
SEOUL, Dec. 17 (Korea Bizwire) — The Bank of Korea (BOK) is developing an artificial intelligence-based early warning system to better prepare for potential risks, its chief said Tuesday. During an international forum in Seoul, BOK Gov. Rhee Chang-yong said the central bank had decided to actively invest in the AI-based financial forecast and warning [...]
SEOUL, Dec. 17 (Korea Bizwire) — Acting President Han Duck-soo said Tuesday the government will work to implement the 2025 budget on the first day of next year to help stabilize the economy amid rising uncertainties at home and abroad. Han called for the swift allocation of the budget during the first Cabinet meeting since [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea has kicked off the production of the medium-altitude unmanned aerial vehicle (MUAV), the arms procurement agency said Tuesday, in a move to help enhance the military’s surveillance capabilities over North Korea. A ceremony was held in the southeastern port city of Busan to mark the completion of [...]
SEJONG, Dec. 17 (Korea Bizwire) — South Korea’s industry ministry said Tuesday the country has kicked off its first domestic production of filters using nanotechnology, paving the way for the self-supply of a critical product needed to produce semiconductors. The production began at the factory of Synopex Inc. in Dongtan, 40 kilometers south of Seoul, [...]
SEOUL, Dec. 17 (Korea Bizwire) – Nearly half of South Korea’s small business owners in the food and hospitality sectors report direct or indirect losses due to the ongoing political crisis following the December 3 martial law declaration and subsequent impeachment of President Yoon Suk-yeol. A survey conducted by the Korea Federation of SMEs between [...]
SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s Democratic Party is advancing a wave of legislative proposals aimed at preventing the misuse of martial law, following the recent political turmoil that culminated in President Yoon Suk-yeol’s impeachment. Dubbed the “Seoul Spring Laws,” these measures seek to impose stricter controls on the declaration of martial law [...]