SEOUL, June 10 (Korea Bizwire) — The Cabinet on Tuesday approved bills to appoint special counsels to probe a botched martial law bid by former President Yoon Suk Yeol and corruption allegations against his wife, former first lady Kim Keon Hee. President Lee Jae-myung presided over the Cabinet meeting that also approved a special counsel [...]
SEOUL, June 10 (Korea Bizwire) — As South Korea’s new administration moves to position the country as a global hub for digital assets, a majority of Koreans say they plan to increase their investment in cryptocurrencies and related financial products, according to a nationwide survey released Monday. The Korea Chamber of Commerce and Industry (KCCI) [...]
SEOUL, June 10 (Korea Bizwire) — Kia Corp. announced Tuesday that it has begun mass production of its next-generation standard medium-duty military vehicles, marking the first full-scale model renewal in 48 years. The automaker held a rollout ceremony at its Autoland Gwangju plant, attended by over 100 officials, including senior representatives from the Ministry of National [...]
SEOUL, June 10 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has conditionally approved the merger of streaming platforms, Tving and Wavve, requiring the two local companies to maintain their current subscription prices until the end of next year. The Fair Trade Commission (FTC) said the two homegrown over-the-top (OTT) service providers must [...]
SEOUL, June 10 (Korea Bizwire) — South Korea is likely to sign a deal worth around US$6 billion to export additional K2 tanks to Poland later this month, government sources said Tuesday, in what would be Seoul’s biggest single arms export contract. Under the deal set to be signed in late June, Poland will receive [...]
SEOUL, June 10 (Korea Bizwire) — South Korea will require manufacturers and importers of plastic toys to recover and recycle a portion of their products starting in 2026, under a revised regulation aimed at curbing plastic waste. The Ministry of Environment announced Monday that it will begin a 40-day legislative notice period on an amendment [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s labor market showed clear signs of softening last month, with the number of job openings per job seeker hitting its lowest May level since the 1998 IMF crisis, and the growth in employment insurance enrollments falling to a five-year low, government data showed Monday. According to the [...]
SEOUL, June 9 (Korea Bizwire) – President Lee Jae-myung on Monday instructed his aides to swiftly prepare an extra budget to support the economic recovery and spur private consumption, the presidential office said. Lee made the call during the second meeting of the emergency economy task force with presidential aides and government officials. “He instructed [...]
SEOUL, June 9 (Korea Bizwire) — President Lee Jae-myung is expected to meet with top business leaders and heads of major economic organizations later this week, ahead of his participation in the Group of Seven (G7) summit in Canada, industry sources said Monday. According to the sources, the presidential office is arranging the meeting for [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s top military officer met with the chief of the U.S. Transportation Command on Monday and discussed ways to bolster cooperation, such as regularizing combined transportation drills, the South’s Joint Chiefs of Staff (JCS) said. JCS Chairman Adm. Kim Myung-soo and Gen. Randall Reed held talks in Seoul, [...]