SEOUL, Sept. 2 (Korea Bizwire) — South Korea has been developing a massive ballistic missile as powerful as a tactical nuclear weapon, sources said Thursday, after the full lifting of U.S.-imposed restrictions on missile development. The surface-to-surface missile, which can carry a warhead of up to 3 tons with a flight range of 350-400 kilometers, [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korea’s parliament has passed a bill mandating over a 35 percent cut in greenhouse gas emissions by 2030 to eventually achieve carbon neutrality by 2050. The National Assembly passed the so-called “climate crisis response” act Tuesday night at a general voting session, becoming the 14th country in the [...]
SEOUL, Sept. 1 (Korea Bizwire) — The government on Wednesday decided to raise the rate of workers’ employment insurance next year as the state employment insurance fund is on the verge of being depleted amid the prolonged coronavirus pandemic. The labor ministry’s employment insurance fund committee held a meeting and ratified the decision to raise [...]
SEOUL, Aug. 31 (Korea Bizwire) — South Korean game developers have been turning their eyes to the production of TV series and films in a bid to diversify their business portfolios amid the booming Korean entertainment industry. Com2uS, an online and mobile game publisher, said last week that it has claimed a combined 38 percent [...]
SEOUL, Aug. 28 (Korea Bizwire) — About a year into the COVID-19 pandemic, Park Hyun-seok took a look at himself in the mirror and was disgusted by what he saw. Standing in front of him was a version of himself that was at least 10 kilograms heavier than before, which left him feeling ugly, lazy [...]
SEOUL, Aug. 27 (Korea Bizwire) — Defying criticism and stiff objections from anti-corruption campaigners, Lee Jae-yong, the de-facto chief of the country’s top conglomerate Samsung was released on parole on Aug. 13, rekindling controversy over lopsided legal “favors” to business moguls here. Lee, the vice chairman of Samsung Electronics Co., the group’s crown jewel, had [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s daunting yet successful mission to evacuate Afghan colleagues from their war-ravaged country has hammered home a simple yet impactful message for them and its future partners: We will never abandon our friends. That message has resonated with nearly 400 Afghan evacuees throughout this week, as South Korean [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s standard agency said Thursday it will spare no efforts to lead the global standardization of technologies related to the metaverse as the industry is expected to further expand down the road amid the COVID-19 pandemic. “Online meetings and lectures, along with remote working, have emerged as a [...]
SEOUL, Aug. 25 (Korea Bizwire) — The government plans to increase the distribution of electric and hydrogen-powered taxis to 100,000 units by 2025. To this end, it intends to establish a collaborative venture with municipal governments and related industries. The Ministry of Environment on Tuesday formed a business agreement with the Seoul Metropolitan Government, the [...]
SEOUL, Aug. 23 (Korea Bizwire) — A parliamentary committee on Monday approved a contentious bill that requires the installation of surveillance cameras in hospital rooms despite strong opposition from medical groups. The Health and Welfare Committee gave its nod to the bill to revise the Medical Service Act in a plenary session. The bill, if [...]