SEOUL, July 3 (Korea Bizwire) — The National Assembly on Thursday endorsed President Lee Jae Myung’s pick for prime minister, although all lawmakers from the main opposition People Power Party boycotted the vote over allegations surrounding his wealth and family. The Assembly passed the confirmation motion for Kim Min-seok in a 173-3 vote with three [...]
GIMPO, South Korea, July 3 (Korea Bizwire) – Not long ago, the western fringes of South Korea near the inter-Korean border were anything but peaceful. Night and day, the air reverberated with North Korean loudspeakers blaring a relentless mix of metallic screeches and propaganda across the Han River estuary — a psychological barrage that left [...]
SEOUL, July 2 (Korea Bizwire) — South Korea’s ruling and opposition parties have reached a landmark agreement to pass a long-disputed amendment to the Commercial Act that includes the so-called “3% rule,” sparking concern across the business community over heightened risks to corporate governance and investment certainty. The amendment, scheduled for a vote in the [...]
SEOUL, July 2 (Korea Bizwire) — In a move that could become the first major diplomatic test of President Lee Jae-myung’s nascent administration, China has approached South Korea about his potential attendance at a military parade this September, commemorating the 80th anniversary of its World War II victory over Japanese aggression. Diplomatic sources revealed Wednesday [...]
SEOUL, July 1 (Korea Bizwire) -- Prosecutor General Shim Woo-jung has offered to resign, just about nine months into his two-year term, legal sources said Tuesday, amid a move by the new administration to reform the prosecution. Shim, who took office last September, expressed his intention to step down Monday, a day after President Lee [...]
SEOUL, July 1 (Korea Bizwire) — When American B-2 bombers streaked across the sky and obliterated three key nuclear sites in Iran last month, the world watched with a mix of awe and unease. But for one veteran U.S. expert on Korean affairs, the shockwaves from the strike may be felt in a far more unexpected [...]
SEOUL, June 30 (Korea Bizwire) — As the clock ticks down to a critical trade deadline, South Korea is turning to its citizens, industry experts, and policy stakeholders for input before it finalizes its negotiation stance in upcoming tariff talks with the United States. On Monday, the Ministry of Trade, Industry and Energy held a [...]
SEOUL, June 27 (Korea Bizwire) – President Lee Jae Myung on Friday stressed the importance of national security and vowed extraordinary compensation and honor for those who sacrificed themselves to protect the nation and its people. Lee made the remarks during a luncheon with veterans, bereaved family members and representatives of veterans’ organizations, held just [...]
SEOUL, June 26 (Korea Bizwire) — President Lee Jae Myung on Thursday nominated a former Supreme Court justice as the new chief of the Constitutional Court, the presidential office said. Former Supreme Court Justice Kim Sang-hwan was picked to replace then acting court chief Moon Hyung-bae, who retired in April. Lee also tapped Oh Young-joon, [...]
SEOUL, June 26 (Korea Bizwire) — President Lee Jae-myung has raised the possibility of reintroducing South Korea’s traditional bar exam system, signaling potential reforms to the country’s legal education pathway and reigniting a long-standing national debate. During a town hall meeting in Gwangju on June 25, President Lee responded to a citizen’s call for the [...]