SEOUL, June 21 (Korea Bizwire) — South Korea’s benchmark KOSPI index surged past the 3,000 mark for the first time in three and a half years this week, fueling investor interest in sectors poised to benefit from President Lee Jae-myung’s economic agenda amid intensifying global volatility driven by renewed U.S. protectionism under President Trump. Analysts attribute [...]
BOSTON, June 21 (Korea Bizwire) — South Korea solidified its standing as a global biotech powerhouse at this year’s BIO International Convention (BIO USA), the world’s largest biotechnology exhibition, which concluded Wednesday in Boston. With over 1,300 Korean delegates—the most from any overseas nation for the third consecutive year—South Korea’s presence reflected both its scientific [...]
DAEJEON, June 21 (Korea Bizwire) — A rare albino narrow-mouthed toad (commonly known in Korea as maengkkongi) has been discovered in Daejeon, marking only the second confirmed case of its kind ever recorded in South Korea. The finding was announced by Moon Kwang-yeon, director of the Korean Herpetological Society, who observed the white-skinned, red-eyed amphibian on [...]
SEOUL, June 20 (Korea Bizwire) – A Seoul court said Friday it will hold a hearing next week to determine whether to extend the arrest of former Defense Minister Kim Yong-hyun over his alleged role in former President Yoon Suk Yeol’s short-lived imposition of martial law. The Seoul Central District Court said the hearing will [...]
SEOUL, June 20 (Korea Bizwire) — The U.S. Embassy in Seoul resumed accepting visa applications for student and exchange visitors Friday, saying it will conduct “thorough vetting” of applicants’ presence on social media. The announcement is in line with the U.S. State Department’s release on Thursday (U.S. time) that all U.S. overseas missions will be [...]
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 [...]
SEOUL, June 20 (Korea Bizwire) — A court on Friday approved a request to allow discount store chain Homeplus Co. to pursue a merger and acquisition (M&A) deal before a court decision on whether to approve its rehabilitation plan. The Seoul Bankruptcy Court approved Homeplus’ pursuit of the M&A deal and the selection of [...]
SEJONG, June 20 (Korea Bizwire) — The administration of President Lee Jae-myung is accelerating plans for a nationwide renewable energy infrastructure overhaul, with a transformative “Energy Highway” at the center of its strategy to upgrade Korea’s industrial base and compete in the global clean energy transition. In a briefing to the National Planning Commission on [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will review the introduction of tighter rules on so-called jeonse loans amid rising household debts. In a report to the State Affairs Planning Committee, the de facto transition team of the new Lee Jae Myung administration, the Financial Services Commission (FSC) said [...]
SEOUL, June 19 (Korea Bizwire) – South Korea’s energy supply has yet to experience any disturbance from the Israel-Iran conflict, Seoul’s industry ministry said Thursday, noting it is maintaining an emergency mode in response to escalating tensions in the Middle East. The Ministry of Trade, Industry and Energy held an emergency meeting with officials from [...]