SEOUL, Sept. 7 (Korea Bizwire) — An estimated 1.7 trillion won (US$1.43 billion) worth of economic effect is expected to be created by K-pop sensation BTS’ conquest of the Billboard Hot 100 chart last week, government data showed Monday. Last week, BTS debuted at No. 1 on Billboard’s main singles chart with its latest English-language [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea will set up a fund worth 20 trillion won (US$16.8 billion) over the next five years to promote the Korean New Deal projects that will create millions of jobs and revive the virus-ravaged economy, Finance Minister Hong Nam-ki said Thursday. The fund will consist of 3 trillion [...]
SEOUL, Sep. 2 (Korea Bizwire) —Amid the resurgence of the COVID-19 pandemic in South Korea, controversy is heating up over the government’s ban on in-person religious gatherings at churches. Some religious leaders, particularly those who are Protestant Christians with a conservative political ideology, are insisting that banning religious gatherings is a violation of the right [...]
SEOUL, Aug. 31 (Korea Bizwire) — South Korea’s capital and surrounding areas, home to half of the country’s population, turned unusually quiet over the weekend and on Monday as residents adjusted to one of the toughest social distancing modes in place there since the pandemic hit the country. Starting Sunday, South Korea began to restrict [...]
SEOUL, Aug. 30 (Korea Bizwire) — The city of Seoul on Sunday designated this week as a “week of standstill” for nearly 10 million citizens in its latest measure to fight the spread of the new coronavirus in the capital area. During the “10 Million Citizen Standstill Week,” which runs from Sunday to next Sunday, [...]
SEOUL, Aug. 29 (Korea Bizwire) — Like many other self-employed professionals here, Julia Mellor, an Australian specialist in traditional Korean alcoholic drinks, is striving hard to keep her business running, afflicted by COVID-19 and strict social distancing restrictions. Mellor wouldn’t just wait for the pandemic to be over. She is responding to drawn-out unpredictability by [...]
SEJONG, Aug. 27 (Korea Bizwire) — South Korea plans to allow more foreign students to work here from 2022 as part of its efforts to tackle population decline, officials said Thursday. If a foreigner graduates from a university of engineering or science in South Korea, the foreigner will get a non-professional employment visa, or E-9 [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean citizens have been voluntarily spreading the “#stayhomechallenge” lately to encourage one another to spend time wisely indoors, as the nation has tightened its social distancing guidelines in response to a recent spike in local coronavirus transmissions. The entire country was placed under Level 2 of the three-tier [...]
SEOUL, Aug. 24 (Korea Bizwire) — Despite a recent market seesaw, foreign investment banks have painted a rosy outlook of the South Korean stock market amid signs of improving economic conditions and ample liquidity, sources said Monday. Global investment bank Credit Suisse recently upgraded its outlook for the Korea Composite Stock Price Index (KOSPI) to [...]
SEOUL, Aug. 21 (Korea Bizwire) — Thousands of trainee doctors in South Korea went on strike Friday to protest the government’s plan to increase the number of medical students, drawing public criticism amid fears of nationwide spread of the new coronavirus. Trainee doctors have staged a limited strike since early this month after the government [...]