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The Commonwealth of Dominica Enhances Security and Management of the Citizenship by Investment Programme

Roseau, Aug. 29 (Korea Bizwire) — The Commonwealth of Dominica has taken significant steps to bolster the security and management protocols for its Citizenship by Investment Programme, aimed at fortifying the integrity and longevity of the programme. Dr. Roosevelt Skerrit, the Prime Minister of Dominica, has been collaborating closely with various stakeholders, including international consultants, [...]

Jamsil Olympic Stadium to be Remodeled into Sports, Cultural Complex

SEOUL, Aug. 29 (Korea Bizwire) – Jamsil Olympic Stadium, the main venue of the 1988 Summer Olympics, will undergo a three-year facelift to be reborn as an urban sports and cultural complex, the Seoul city government said Tuesday. Renovation work began Tuesday on the nearly 70,000-seat stadium in southeastern Seoul that also served as the [...]

BTS’ V Drops 3 Self-composed Songs Ahead of Solo Album Release

SEOUL, Aug. 29 (Korea Bizwire) — BTS member V officially released three of his self-composed songs — “Winter Bear,” “Snow Flower (feat. Peakboy)” and “Scenery” — on Tuesday, his agency, BigHit Music, said. The release comes over a week ahead of the release of his debut solo album, “Layover,” on Sept. 8. The songs were [...]

S. Korea Earmarks 520 bln Won for Ukraine Support Budget for 2024

SEOUL, Aug. 29 (Korea Bizwire) — South Korea has tentatively allocated 520 billion won (US$393 million) in the state budget to be used in various support programs for Ukraine, including reconstruction-related projects, next year, according to the government’s budget proposal released Tuesday. Seoul’s funds earmarked for Ukraine-related projects for 2024 represents an over eightfold increase [...]

Industry Ministry Signs MOU with Samsung, SK hynix on Semiconductor Packaging

SEOUL, Aug. 29 (Korea Bizwire) – The industry ministry said Tuesday it signed a memorandum of understanding (MOU) with Samsung Electronics Co., SK hynix Inc. and other chip firms to cooperate on technology development for advanced semiconductor packaging. Under the MOU, the government and chipmakers agreed to work together to secure leading technologies in advanced [...]

S. Korea to Invest 5 tln Won in R&D for 12 Strategic Technologies in 2024

SEOUL, Aug. 29 (Korea Bizwire) — South Korea will funnel 5 trillion won (US$3.8 billion) into research and development (R&D) next year to promote 12 strategic technologies as part of the country’s long-term growth plan to take the global lead in up-to-date technologies, the science ministry said Tuesday. The 2024 amount increased 6.4 percent from [...]

Hybe Reveals Contestants for Global Girl Group Audition Project

SEOUL, Aug. 29 (Korea Bizwire) — Hybe, the K-pop company behind such groups as BTS and NewJeans, on Tuesday unveiled the participants in an audition program to launch the first global girl group utilizing its K-pop production system. Hybe has been pushing for the “The Debut: Dream Academy” project to recruit members for the U.S.-based [...]

Retail Sales Up 5.9 pct in July on Growing Outdoor Vacation Activities

SEOUL, Aug. 29 (Korea Bizwire) — Retail sales in South Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.73 trillion won (US$11.12 billion) last month, compared [...]

S. Korea’s Total Rice Paddy Area Down in 2023

SEOUL, Aug. 29 (Korea Bizwire) — South Korea’s rice paddy area decreased 2.6 percent in 2023 from a year earlier amid a reduction in domestic consumption, data showed Tuesday. The country’s rice cultivation area came to 708,041 hectares, compared with 727,054 hectares tallied a year earlier, according to the data compiled by Statistics Korea. South [...]

School Zone Speed Limit to be Eased During Nighttime

SEOUL, Aug. 29 (Korea Bizwire) — The school zone speed limit will be eased to up to 50 kilometers per hour from the current 30 kph during the night and early morning hours beginning next month, police said Tuesday. Under the revision, which will go into force Friday, the speed limit around schools, namely school [...]