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Lee Orders Emergency Response System For All Ministries Over ‘Urgent’ Mideast Situation

Lee Orders Emergency Response System For All Ministries Over ‘Urgent’ Mideast Situation

SEOUL, June 23 (Korea Bizwire) — President Lee Jae Myung on Monday instructed the presidential office and all ministries to be put under an emergency response system in order to address heightened tensions in the Middle East following U.S. strikes on Iran’s nuclear sites. In his first meeting with senior presidential aides since taking office, [...]

South Korea to Approve Over 18,000 New Foreign Worker Permits in July Amid Expanding Job Categories

South Korea to Approve Over 18,000 New Foreign Worker Permits in July Amid Expanding Job Categories

SEOUL, June 23 (Korea Bizwire) — South Korea’s Ministry of Employment and Labor announced Saturday that it will accept applications for new employment permits for foreign workers from July 7 to 18 through local labor offices nationwide, as part of the country’s third-round quota for 2025. A total of 18,054 foreign workers will be newly authorized [...]

State Affairs Committee Cuts Short Prosecution’s Policy Briefing

State Affairs Committee Cuts Short Prosecution’s Policy Briefing

SEOUL, June 20 (Korea Bizwire) – The presidential state affairs committee cut short a policy briefing by the prosecution Friday, instructing it to rewrite its report to better reflect President Lee Jae Myung’s policy pledges, the committee’s spokesperson said. The move came as the committee, which functions as a de facto government transition committee of [...]

Dual Burden of Taxes and Health Insurance Threatens Real Value of South Korea’s Public Pensions

Dual Burden of Taxes and Health Insurance Threatens Real Value of South Korea’s Public Pensions

SEOUL, June 17 (Korea Bizwire) — A new report warns that South Korea’s elderly population faces a growing “double burden” as rising health insurance premiums and income taxes increasingly eat into public pension payouts, significantly reducing retirees’ real disposable income. According to a study released Tuesday by the National Pension Research Institute, the 2022 overhaul of [...]

Seoul Tightens Oversight on Foreign Property Purchases Amid Equity and Market Concerns

Seoul Tightens Oversight on Foreign Property Purchases Amid Equity and Market Concerns

SEOUL, June 16 (Korea Bizwire) — The Seoul Metropolitan Government announced new measures on Sunday to enhance oversight of real estate transactions involving foreign nationals, aiming to address rising concerns over transparency, market disruption, and perceived unequal treatment of domestic buyers. As foreign ownership of property in South Korea increases, Seoul officials plan to scrutinize sources [...]

Seven in Ten Koreans Expect President Lee Jae-myung to Perform Well, Gallup Poll Finds

Seven in Ten Koreans Expect President Lee Jae-myung to Perform Well, Gallup Poll Finds

SEOUL, June 13 (Korea Bizwire) — A new public opinion survey shows that a strong majority of South Koreans have confidence in President Lee Jae-myung’s ability to lead the nation, with 70 percent of respondents saying they expect him to perform well during his five-year term. The poll, conducted by Gallup Korea from June 10 to [...]

Acting Finance Minister Vows All-Out Efforts To Stabilize Consumer Prices

Acting Finance Minister Vows All-Out Efforts To Stabilize Consumer Prices

SEOUL, June 12 (Korea Bizwire) – Acting Finance Minister Lee Hyoung-il said Thursday that all efforts will be made to stabilize consumer prices, adding that the government will announce related countermeasures as soon as possible. Lee, newly appointed as the first vice finance minister and currently serving as acting minister due to a vacancy, made [...]