SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s population shrank last year, continuing its downward trend for three years in a row, with the number of single-person households close to 10 million, government data showed Sunday. The Ministry of Interior and Safety said the country’s registered population stood at 51,439,038 as of Dec. 31 of [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korea’s advanced Army unit armed with cutting-edge weapons has staged a joint field exercise with a Stryker Brigade Combat Team from the U.S. 2nd Infantry Division near the inter-Korean border. The practice kicked off on Jan. 2 for a two-week run in the border city of Paju, about [...]
SEOUL, Jan. 14 (Korea Bizwire) — SpaceX, a U.S. space company owned by Elon Musk, has applied for business registration with South Korean authorities to roll out its network of satellite internet service Starlink, sources said Friday. SpaceX filed the request with the Ministry of Science and ICT earlier this month to launch Starlink in [...]
SEOUL, Jan. 13 (Korea Bizwire) — Police wrapped up a monthslong investigation Friday into the deadly crowd crush in Seoul’s Itaewon neighborhood last year, with 23 government officials referred to the prosecution on fatal professional negligence and other charges. The special police investigation team concluded the crowd crush was a “man-made” disaster caused by authorities’ [...]
SEOUL, Jan. 13 (Korea Bizwire) — As more than 15 countries have imposed stricter quarantine measures against travelers coming from China, Beijing has recently suspended all issuance of short-term, transit visas and visas on arrival to Korean and Japanese nationals. Beijing explained that the measure was based on the principle of reciprocity. However, there are views [...]
SEOUL, Jan. 13 (Korea Bizwire) — The number of South Korean employees working fewer than 15 hours a week reached a new high last year, a statistics agency said Thursday. Statistics Korea reported that there were 1,577,000 people working between one and 14 hours per week last year, an increase of 65,000 people from the [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea will raise its dependence on nuclear energy sources to over 30 percent while sharply reducing its reliance on coal by 2036, the energy ministry said Thursday, as the country accelerates its push to reach carbon neutrality. Under the plan, the government will raise the proportion of nuclear [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea will extend trading hours of its foreign exchange market as part of its efforts to make Asia’s No. 4 economy a more attractive investment destination, the finance minister said Thursday. Finance Minister Choo Kyung-ho said the South Korean government will consider extending its foreign-exchange trading hours to [...]
SEOUL, Jan. 11 (Korea Bizwire) — A former employee of dental implant maker Osstem Implant Co. was sentenced to 35 years in prison Wednesday for embezzling company funds worth 221.5 billion won (US$178.1 million). The Seoul Southern District Court also ordered the former employee, known by his surname Lee, to forfeit 115.2 billion won and [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korea reported the largest job additions in more than 20 years in 2022, data showed Wednesday, as the country gradually returned to pre-pandemic normalcy. The number of employed people came to 28.08 million in 2022, up 816,000 from a year earlier, according to the data compiled by Statistics [...]