SEOUL, July 8 (Korea Bizwire) — A special counsel team raided the national police agency as well as the offices and homes of current and former lawmakers Tuesday as part of its investigation into corruption allegations involving former first lady Kim Keon Hee, legal sources said. In a statement to the media, the team said [...]
SEOUL, July 8 (Korea Bizwire) – South Korea will host a meeting of energy ministers of the Asia-Pacific Economic Cooperation (APEC) member nations in the southeastern port city of Busan next month, the government said Tuesday. The APEC energy ministers’ meeting will take place from Aug. 27-28 in Busan, located 325 kilometers southeast of Seoul, [...]
SEOUL, , July 8 (Korea Bizwire) — A growing number of young South Koreans are remaining out of the labor force well after graduation, many continuing to live with their parents — a phenomenon known locally as the “Kangaroo Tribe.” A new government-funded study has found that this group accounts for nearly 17% of all economically inactive [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s pharmaceutical industry is once again under fire as a string of illegal rebate scandals have surfaced in 2025, reigniting calls for structural reform and stronger support for new drug development. Prosecutors recently indicted three mid-sized pharmaceutical companies and their employees in connection with the so-called “residents’ rebate” [...]
SEJONG, July 7 (Korea Bizwire) — South Korea’s latest euro-denominated foreign exchange stabilization bond (FESB) offering in London has garnered record-breaking demand, signaling strong global investor confidence in the country’s fiscal and economic outlook under its newly inaugurated administration. According to the Ministry of Economy and Finance, the €1.4 billion issuance on June 26 attracted [...]
SEOUL, July 7 (Korea Bizwire) — President Lee Jae Myung on Monday urged for swift action regarding parliamentary vetting of his Cabinet member picks and key legislation during a dinner meeting with members of the ruling Democratic Party (DP), sources said. At the meeting held at the presidential residence, Lee requested attendees to see that [...]
SEOUL, July 7 (Korea Bizwire) — Prime Minister Kim Min-seok was inaugurated Monday at a ceremony in the central administrative city of Sejong, where he plans to remain the rest of the week to focus on regional development issues. Kim’s inauguration took place four days after the National Assembly confirmed his nomination in a vote [...]
SEOUL, July 7 (Korea Bizwire) — A special counsel team said Monday it plans to summon former and incumbent executives of Sambu Construction Co., as it widens its investigation into stock price manipulation allegations involving the mid-sized builder and former first lady Kim Keon Hee. The team — led by special counsel Min Joong-ki — [...]
SEOUL, July 7 (Korea Bizwire) — Vice Foreign Minister Park Yoon-joo met with China’s top envoy to Seoul on Monday to discuss ways of enhancing bilateral cooperation, the foreign ministry said. The meeting took place in Seoul as Chinese Ambassador to South Korea Dai Bing paid a courtesy visit to congratulate Park on his appointment, [...]
SEOUL, July 7 (Korea Bizwire) — A hearing on whether to issue an arrest warrant for former President Yoon Suk Yeol over his martial law bid will be held later this week, a court said Monday. The Seoul Central District Court said the hearing has been scheduled for 2:15 p.m. Wednesday following special counsel Cho [...]