SEOUL, March 29 (Korea Bizwire) — The value of assets held by non-metropolitan areas households is about 40 percent lower than that of metropolitan area households, a lawmaker said Monday, citing data from Statistics Korea. The aggregate value of assets held by the nation’s households amounted to 10.3 quadrillion won (US$8.21 trillion), according to the [...]
SEOUL, March 28 (Korea Bizwire) — Some volunteer soldiers from South Korea were deployed in Ukrainian front-line units fighting against Russia, an official from Ukraine’s military has said. Damien Magrou, a spokesperson for the International Legion for the Defense of Ukraine, confirmed the activities of South Koreans during a recent interview with Yonhap News Agency. [...]
SEOUL, March 28 (Korea Bizwire) — Registered electric vehicles (EVs) in South Korea now account for close to 1 percent of all automobiles in the country, data showed Sunday, thanks to growing interest in eco-friendly cars, as well as generous government subsidies. The Ministry of Land, Infrastructure and Transport reported that among the more than 25 [...]
SEOUL, March 27 (Korea Bizwire) — A total of 70 earthquakes with a magnitude of 2.0 or stronger were detected on the Korean Peninsula and its surrounding waters last year, a level similar to the yearly average over the past 20 years, the state weather agency said Sunday. The 2021 figure is up from 68 [...]
SEOUL, March 26 (Korea Bizwire) — Three nonfungible token (NFT) editions of a landmark abstract artwork by Korean modern art master Kim Whan-ki (1913-1974) have sold for around a combined 730 million won (US$597,870) at a Seoul auction, becoming the most expensive NFT editions for a Korean artwork ever, an online auction house said Saturday. [...]
SEOUL, March 26 (Korea Bizwire) — North Korea’s intercontinental ballistic missile (ICBM) test this week underscores apparent progress in its push for advanced, more reliable nuclear delivery means targeting the United States, experts said Friday. The North’s official Korean Central News Agency (KCNA) reported that at the behest of leader Kim Jong-un, the country successfully [...]
SEOUL, March 25 (Korea Bizwire) — From now on, virtual asset businesses must provide details about the sending and the receiving clients when transferring virtual assets worth more than 1 million won (US$820) to a different business. The Korea Financial Intelligence Unit introduced the new ‘travel rule’ policy on Friday. The travel rule refers to [...]
SEOUL, March 25 (Korea Bizwire) — Smartphones and online social platforms will be included in restraining orders against perpetrators of school violence to prevent secondary offenses through online means. The government on Thursday announced a new policy under which any student who is expelled for school violence will have the case recorded on their student [...]
SEOUL, March 25 (Korea Bizwire) — South Korea’s deficit in the trade of intellectual property rights touched a record low in 2021 on increased exports of cultural content, central bank data showed Friday. The nation’s deficit in the intellectual property account stood at US$30 million last year, compared with a $2.02 billion shortfall in 2020, [...]
SEOUL, March 25 (Korea Bizwire) — South Korea plans to invest more than 20 trillion won (US$16.4 billion) in data, network and artificial intelligence (AI) sectors over the next three years in a bid to help nurture future-oriented industries, the finance minister said Friday. Along with fiscal spending, the government plans to provide support for [...]