National Archives | Be Korea-savvy

Archive by category National

Volkswagen Exec Visits Seoul Prosecutors’ Office, Apologizes

Volkswagen Exec Visits Seoul Prosecutors’ Office, Apologizes

SEOUL, Jan. 18 (Korea Bizwire) – A senior executive of German carmaker Volkswagen visited Seoul prosecutions’ office on Wednesday and apologized to South Korean customers for the emissions scandal surrounding some of its vehicles.  Francisco Javier Garcia Sanz, a member of Volkswagen AG’s Board of Management, visited the Seoul Central District Prosecutors’ Office to discuss [...]

Russia Conducts Successful Launch of THAAD-Beating ICBM

Russia Conducts Successful Launch of THAAD-Beating ICBM

SEOUL, Jan. 18 (Korea Bizwire) – The Russian military has conducted another successful launch of its Topol-M intercontinental ballistic missile, which, according to officials, can penetrate the THAAD missile battery, the U.S. anti-ballistic missile system the South Korean government is looking to deploy.  According to local sources on January 17, a single Topol-M missile was [...]

South Korea to Check Air Passenger Info to Sort out Potential Terrorists

South Korea to Check Air Passenger Info to Sort out Potential Terrorists

SEOUL, Jan. 18 (Korea Bizwire) – Starting in April, South Korea will check information on inbound air passengers to sort out potential terrorists, officials said Wednesday, as Seoul seeks to beef up security ahead of major sporting events amid growing military threats from North Korea.  The government also decided to establish a system that would [...]

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

SEOUL, Jan. 18 (Korea Bizwire) – South Korea will establish a 3.5 trillion won (US$2.9 billion) fund to nurture startups and venture firms in the science and technology sectors to secure new growth engines, the science ministry said Wednesday. Under the comprehensive plan announced by the Ministry of Science, ICT and Future Planning, the fund [...]

“Saddest Record Store in the World” Closes Seven Months after Extremist Attack

“Saddest Record Store in the World” Closes Seven Months after Extremist Attack

ISTANBUL, Jan. 17 (Korea Bizwire) – Velvet Indieground, a record shop in Istanbul run by a Korean expat, has closed. The store figured prominently in the media after what an extreme Islamist attack on June 17 of last year, when a handful of Turkish individuals entered the premises, assaulted customers with metal and wooden clubs, [...]

Gov’t to Expand Financial Support for SMEs

Gov’t to Expand Financial Support for SMEs

SEOUL, Jan. 17 (Korea Bizwire) – The South Korean government said Tuesday it will provide small and medium-sized enterprises (SMEs) here with a record level of financial support this year via policy lenders to help them weather difficult business conditions.  The lenders will increase their lending to 186.7 trillion won (US$156 billion) for the year [...]

S. Korea to Increase Investment Related to 4th Industrial Revolution

S. Korea to Increase Investment Related to 4th Industrial Revolution

SEOUL, Jan. 16 (Korea Bizwire) – South Korea will expand investments to secure a new growth strategy to cope with the fast-paced industrial transformation, dubbed the fourth industrial revolution, the science minister said Monday.  The remarks were made during a meeting between officials of the Ministry of Science, ICT and Future Planning, and executives of [...]