SEOUL, May 2 (Korea Bizwire) — The South Korean government on Thursday announced a sweeping plan to manage the country’s growing number of vacant homes, aiming to turn more than 134,000 unused properties into assets that support regional revitalization and public safety. Unveiled during an economic policy meeting chaired by Deputy Prime Minister and Finance [...]
SEOUL, May 2 (Korea Bizwire) —Type 2 diabetes is rapidly spreading among South Korea’s young adults, with prevalence rates nearly doubling over the past decade, according to a new study published in the Diabetes & Metabolism Journal, the official publication of the Korean Diabetes Association. The research, which analyzed data from 2010 to 2020, found [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s financial industry is accelerating efforts to tokenize traditional assets such as stocks, deposits, and loans, positioning blockchain-backed digital certificates as a cornerstone of the sector’s next phase of innovation. According to a recent report by the Korea Institute of Finance, the global transaction volume of real-world asset [...]
SEOUL, May 2 (Korea Bizwire) —A recent surge in the popularity of Ghibli-style AI-generated images has brought to light generational differences in how South Koreans engage with generative AI tools, according to a new report by the Korea Press Foundation released Thursday. The report, published in the latest edition of Media Survey, analyzed responses from [...]
SEOUL, May 2 (Korea Bizwire) — In a bid to improve access to healthcare for foreign residents and multicultural families facing language barriers, the Seoul Metropolitan Government has launched the “2025 Seoul Medical Interpretation Support Corps” (MeSic), city officials announced Thursday. The initiative, which began this month, enlists a team of 43 qualified interpreters—comprising trained [...]
SEOUL, May 1 (Korea Bizwire) — Finance Minister Choi Sang-mok tendered his resignation late Thursday just before the National Assembly reported a motion to impeach him. “Deputy Prime Minister Choi submitted his resignation at 10:28 p.m.,” the Ministry of Economy and Finance said in a press release. The impeachment motion, spearheaded by the main opposition [...]
SEOUL, May 1 (Korea Bizwire) — LIG Nex1 Co., a major South Korean defense and aerospace company, said Thursday it has signed a 320.7 billion-won (US$224 million) deal to develop the Chollian Satellite 5, South Korea’s next-generation geostationary weather satellite. The satellite project will be carried out in collaboration with the Korea Meteorological Administration, the [...]
SEOUL, May 1 (Korea Bizwire) — The National Assembly on Thursday passed a 13.8 trillion-won (US$9.6 billion) extra budget aimed at helping disaster response efforts and revitalizing the economy. The bill was approved in a plenary session after the Democratic Party (DP) and the People Power Party (PPP) added 1.6 trillion won to the 12.2 [...]
SEOUL, May 1 (Korea Bizwire) — The antitrust regulator said Thursday it has decided to add four more business groups to the list of conglomerates subject to tighter supervision, including cryptocurrency exchange Bithumb. The number of conglomerates on the watchlist came to 92, which have 3,301 affiliates under their wings combined, compared with last year’s [...]
SEOUL, May 1 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong plans to attend the annual meeting of the Asian Development Bank (ADB) and gatherings of ASEAN finance ministers and central bank governors in Milan next week to discuss global economic conditions and other major financial issues, his office said Thursday. Rhee is [...]