MUAN, South Korea , Dec. 29 (Korea Bizwire) — Various interpretations have emerged regarding the cause of the deadly airliner crash in South Korea’s southwestern county of Muan on Sunday, with initial investigations pointing to airframe failure following a “bird strike” as the main culprit. The exact cause remains uncertain but some analysts are already [...]
MUAN, South Korea , Dec. 29 (Korea Bizwire) — A devastating accident involving Jeju Air Flight 7C2216 at Muan International Airport on December 29 has left a trail of grief as families and travelers returning from holiday trips faced a tragic end. Among the 181 passengers onboard was an 80-year-old patriarch from Yeonggwang County, identified [...]
SEOUL & SUWON/ MUAN, Dec. 29 (Korea Bizwire) — Following a bird strike incident involving Jeju Air at Muan International Airport on December 29, 2024, experts are calling for comprehensive measures to mitigate such hazards, a leading cause of aviation safety concerns globally. Bird strikes, collisions between birds and aircraft, are common near airports due to [...]
SEOUL, Dec. 29 (Korea Bizwire) — Purchasing a home in Seoul remains a significant financial challenge, with residents needing to save their entire salaries for 13 years to afford a property, according to data released by South Korea’s Ministry of Land, Infrastructure, and Transport on Friday. The report highlights ongoing housing affordability issues across the country, [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s Meteorological Administration released a stark warning on December 26 about the future of marine environments around the Korean Peninsula, projecting significant changes in ocean temperatures, sea levels, and marine conditions by 2100 without substantial carbon reduction efforts. The high-resolution marine climate change scenario, developed in collaboration with research [...]
SEOUL, Dec. 27 (Korea Bizwire) — A presidential committee on aging society and population said Friday the government will come up with a demographic policy blueprint in the near future, as South Korea has formally become a “super-aged” society. The remark came after the government data showed the number of South Koreans aged 65 or [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — The South Korean government is set to intensify its efforts to reduce wildlife roadkill by designating and managing 100 high-risk road segments, up from the previous 50, according to a joint announcement by the Ministry of Environment and the Ministry of Land, Infrastructure and Transport on December 26. The new [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s elderly population is grappling with insufficient pension income, as nearly half of recipients receive less than 420,000 won ($290) monthly, according to a report released by Statistics Korea on Thursday. While 90% of the country’s seniors aged 65 and older collect at least one type of pension, [...]
SEOUL, Dec. 27 (Korea Bizwire) — Shinsegae Group has announced a strategic partnership with China’s Alibaba Group, forming a joint venture to bolster its position in South Korea’s highly competitive e-commerce market. The new entity, “Grand Opus Holding,” will launch in 2025 with equal ownership between Shinsegae and Alibaba’s international subsidiary. The partnership integrates Shinsegae’s [...]