SEOUL, Jan. 21 (Korea Bizwire) – Kia Corp. plans to expand its global youth vocational training initiative to three additional countries this year, the company said Wednesday, underscoring its commitment to help emerging countries build foundations for self-reliant communities. The program, named Bootcamp, will be extended to Ecuador, South Africa and Singapore in 2026, in [...]
SEOUL, Jan. 21 (Korea Bizwire) – The military has been advised to swiftly adopt a radio frequency identification (RFID) system in handling firearms in a bid to prevent gun-related accidents and deaths in the military, the defense ministry said Wednesday. A special advisory committee comprising civilian, government and military officials made the recommendation as the [...]
SEOUL, Jan. 21 (Korea Bizwire) – SK Innovation Co., South Korea’s leading refiner, said Wednesday it has sold part of its stake in TerraPower, a U.S. developer of next-generation small modular reactors (SMRs), to Korea Hydro & Nuclear Power (KHNP), strengthening their three-way partnership to expand into the global SMR market. The deal marks the [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday that it had imposed a combined 272 billion won, or about $184 million, in fines on the country’s four largest commercial banks, accusing them of coordinating restrictions on mortgage lending in a way that undermined competition. The Fair Trade Commission said Shinhan Bank, Woori [...]
SEOUL, Jan. 21 (Korea Bizwire) – Jeju Air Co. will completely ban the use of portable battery banks on all of its domestic and international flights, the low-cost carrier said Wednesday, citing concerns over in-flight fire risks. Starting Thursday, passengers will no longer be allowed to use power banks to charge electronic devices, such as [...]
SEOUL, Jan. 21 (Korea Bizwire) — The Bank of Korea on Wednesday introduced an in-house artificial intelligence system developed in partnership with Naver, the country’s largest internet company, as the central bank moves to strengthen its research capacity and safeguard control over sensitive financial data. The system, known as BOKI — short for Bank of Korea [...]
SEOUL, Jan. 21 (Korea Bizwire) – Banks and other financial institutions will be temporarily exempt from the foreign exchange stability levy until June as part of government efforts to boost the supply of U.S. dollars, the budget ministry said Wednesday. Under the six-month measure, financial institutions will not be required to pay the special levy, [...]
SEOUL, Jan. 21 (Korea Bizwire) – The Air Force’s aerobatic flight team will stage an air show in Saudi Arabia next month after making a stopover in Japan for refueling, officials said Wednesday. The Black Eagles team plans to participate in the World Defense Show 2026, an international defense exhibition in Saudi Arabia, scheduled for [...]
SEOUL, Jan. 21 (Korea Bizwire) — President Lee Jae-myung on Tuesday signaled a push for stronger government intervention in everyday cost-of-living issues, calling for the development of low-cost sanitary pads — potentially distributed free of charge — while pressing ministers to accelerate reforms across welfare, labor safety and public integrity. Speaking at a Cabinet meeting at [...]
SEOUL, Jan. 21 (Korea Bizwire) — A long-delayed redevelopment project in northern Seoul, once known as the city’s last remaining daldongne — or hillside shantytown — will proceed as planned after a court rejected a request to halt construction over concerns about stray animals. The Seoul Northern District Court recently dismissed an injunction filed by a [...]