SEOUL, June 19 (Korea Bizwire) – Russian President Vladimir Putin and North Korean leader Kim Jong-un signed a comprehensive strategic partnership treaty calling for mutual assistance if either is attacked Wednesday as they held summit talks in Pyongyang. Putin also said Russia does not rule out military and technical cooperation with North Korea in line [...]
SEOUL, June 17 (Korea Bizwire) – The government will extend the tax cut on fuel for automobiles by an additional two months but lower the cap for the reduction in consideration of global oil prices, inflation and the dwindling tax revenue, the finance ministry said Monday. South Korea has applied a 25 percent discount on [...]
SEOUL, Jun. 16 (Korea Bizwire) – A memorial altar set up for victims of the 2022 Itaewon crowd crush was moved to a new site Sunday from its original location outside Seoul City Hall. The altar, which commemorates the 159 people killed in a crowd crush in Seoul’s Itaewon neighborhood during Halloween weekend in 2022, [...]
SEOUL, Jun. 11 (Korea Bizwire) — The chief policymaker of the main opposition Democratic Party said Tuesday no extra budget should be allowed for a project for potential offshore oil and gas reserves in the East Sea unless relevant data is submitted. The remark came amid growing controversies surrounding Act-Geo, the U.S. geoscience firm that [...]
SEOUL, June 8 (Yonhap) – A North Korean defectors’ group said Saturday that it has sent additional propaganda leaflets critical of the North Korean regime across the border, heightening concerns that Pyongyang may resume sending balloons filled with trash in retaliation. Ten large balloons, carrying approximately 200,000 leaflets criticizing North Korea’s leader Kim Jong-un, were [...]
SEOUL, Jun. 8 (Korea Bizwire) – Kim Jong-un, the North Korean leader, has notably increased his public activities related to the military over the past three months, according to a new analysis by the Korea Institute for National Unification, a think tank in Seoul. In a report titled “Analysis of the North Korean Leadership’s Public Activities [...]
CHUNCHEON, Jun. 5 (Korea Bizwire) –A proposal to develop Camp Page, a 520,000 square meter former United States military base in the heart of Chuncheon, has sparked a bitter divide within the local community, pitting residents who support the project against those who demand a restart of the process. The site, which has remained largely [...]
SEOUL, May 21 (Korea Bizwire) — The tripartite commission of labor, management and the public launched the process Tuesday to determine next year’s minimum wage, with the nation focused on whether it will exceed 10,000 won (US$7.35) per hour for the first time. The 27-member Minimum Wage Commission, with nine representatives from each of the [...]
SEOUL, May 15 (Korea Bizwire) – The antitrust regulator said Wednesday it has decided to add six more business groups to the list of conglomerates subject to tighter supervision, including K-pop powerhouse Hybe. The number of conglomerates on the watchlist came to 88, which have 3,318 affiliates under their wings combined, compared with last year’s [...]
SEOUL, May 14 (Korea Bizwire) — President Yoon Suk Yeol on Tuesday proposed a law that will protect the rights of nonunion workers and enhance their welfare. Yoon made the proposal during a town hall meeting, the 25th of its kind, which was held to discuss issues concerning nonunion and other vulnerable workers. “We must [...]