SEOUL, Jan. 2 (Korea Bizwire) – Japanese Ambassador to South Korea Koichi Mizushima on Thursday reaffirmed the importance of the bilateral relations between South Korea and Japan despite the political turmoil surrounding President Yoon Suk Yeol’s impeachment over his brief martial law bid. Mizushima made the remarks in his New Year’s message, voicing hope that [...]
SEOUL, Jan. 2 (Korea Bizwire) — Acting President Choi Sang-mok said Thursday the government will consider implementing additional measures to stimulate the economy in the first quarter, if necessary, amid projections of slow growth for the year. “Considering significant domestic and international uncertainties, (the government) will reassess overall economic conditions during the first quarter, including [...]
SEOUL, Jan. 1 (Korea Bizwire) — Power companies in South Korea will face tougher carbon emissions rules starting in 2026, with a significant increase in the portion of greenhouse gas allowances they must purchase at auction. The move is part of the government’s plan to strengthen its emissions trading system and accelerate efforts to combat climate [...]
SEOUL, Dec. 31 (Korea Bizwire) — A Seoul court on Tuesday issued a warrant to detain impeached President Yoon Suk Yeol over his botched martial law imposition, making him the first sitting South Korean president to face arrest. The Seoul Western District Court approved a request from the Corruption Investigation Office for High-ranking Officials (CIO) [...]
SEOUL, Dec. 30 (Korea Bizwire) — A joint investigation team said Monday it has sought an arrest warrant for President Yoon Suk Yeol over his short-lived imposition of martial law, making him the first sitting president to face arrest. The team said it sought the warrant on insurrection and abuse of power charges after Yoon [...]
SEOUL, Dec. 30 (Korea Bizwire) — Kim Soo-han, who served as the speaker of the National Assembly from 1996 to 1998, died Monday. He was 96. Kim, a six-term lawmaker, was first elected to office in 1967 before serving as assembly speaker during his final term. He took on various roles in his decadeslong political [...]
SEOUL, Dec. 27 (Korea Bizwire) — President Yoon Suk Yeol has appointed a legal defense team to handle his impeachment trial and investigations related to his brief imposition of martial law, his representatives said Friday. Bae Bo-yoon, a former Constitutional Court scholar who worked as a court spokesperson during the impeachment trial of former President [...]
SEOUL, Dec. 27 (Korea Bizwire) — The Constitutional Court is set to hold the first preparatory hearing Friday of a trial on the validity of President Yoon Suk Yeol’s impeachment by the National Assembly over his brief imposition of martial law. The hearing, scheduled for 2 p.m., will bring together the legal representatives of both [...]
SEOUL, Dec. 27 (Korea Bizwire) – Finance Minister Choi Sang-mok on Friday called on the opposition-controlled National Assembly to reconsider its decision to vote on an impeachment motion against acting President Han Duck-soo, saying that such a move would deal a significant blow to government affairs. Choi spoke on behalf of Cabinet members, as the [...]
SEOUL, Dec. 27 (Korea Bizwire) — The government and the ruling People Power Party (PPP) agreed Friday to provide 11.6 trillion won (US$7.86 billion) next year to stabilize consumer prices and ease the financial burden on low-income households. The two sides made the agreement during a consultative meeting among government officials, PPP lawmakers and private [...]