SEOUL, Oct. 21 (Korea Bizwire) — South Korea will expand its national pension premium support program starting in 2026 to cover low-income individuals who have temporarily lost income due to job loss or business closure, even if they do not immediately resume payments, the government announced Monday. The reform, part of the pension overhaul agreed upon [...]
South Korea’s Nuclear Export Deal with Westinghouse Sparked by U.S. Ruling on Reactor Technology Origins SEOUL, Oct. 20 (Korea Bizwire) — The South Korean government’s controversial settlement with U.S. firm Westinghouse over nuclear technology rights was driven by a 2024 decision from the U.S. Department of Energy (DOE) declaring that Korea’s APR1400 reactor design contains American-origin [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korean e-commerce giant Coupang has found itself at the center of a political and legal storm after a prosecutor alleged that senior officials pressured investigators to clear the company of wrongdoing in a wage-related case — a revelation that has reignited debate over prosecutorial reform and cast new scrutiny [...]
WASHINGTON, Oct. 17 (Korea Bizwire) – South Korea’s top economic policymakers gathered in Washington this week, pressing to finalize a landmark trade agreement that could redefine the industrial and strategic alignment between Seoul and Washington. Industry Minister Kim Jung-kwan and U.S. Commerce Secretary Howard Lutnick met Thursday for what officials described as an “in-depth” two-hour discussion [...]
DAEGU, Oct. 16 (Korea Bizwire) — The recent killing of a South Korean college student from Yecheon, North Gyeongsang Province, in Cambodia has shed new light on how young Koreans are being lured overseas by criminal networks with false promises of easy money, court records show. A Daegu District Court ruling issued in May detailed the [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korean police say recent criminal investigations have exposed a growing use of virtual assets to launder the proceeds of large-scale frauds, reigniting debate over the need for stronger oversight as authorities and industry consider expanding the use of digital currencies, including won-pegged stablecoins. The Ulsan Police Agency disclosed [...]
SEOUL, Oct. 14 (Korea Bizwire) – China announced Tuesday it will impose retaliatory measures against five U.S.-based subsidiaries of South Korean shipbuilder Hanwha Ocean Co., accusing them of cooperating with a U.S. investigation targeting China’s maritime and shipbuilding industries. In a statement, the Chinese commerce ministry claimed Hanwha Ocean’s U.S. affiliates assisted and supported the [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korean lawmakers across party lines have condemned the government’s handling of a sharp rise in kidnapping and confinement cases involving Korean nationals in Cambodia, urging swift and decisive measures — including the possibility of military intervention — to protect citizens abroad. During a National Assembly audit on Sunday, Rep. [...]
BUSAN, Oct. 13 (Korea Bizwire) — When South Korean investigators uncovered the brutal murder of a Korean college student in Cambodia last month, they found more than a single tragedy. They exposed the edges of a dark, sprawling industry — one that recruits young Koreans with promises of quick money, only to entangle them in sophisticated [...]
SEOUL, Oct. 13 (Korea Bizwire) — HD Hyundai is exploring multiple options for expanding into the United States, including acquiring shares in an existing shipyard or building one from the ground up — a move that could mark one of the most significant steps yet by a Korean shipbuilder into the U.S. market. According to industry [...]