SEOUL, June 6 (Korea Bizwire) — President Lee Jae-myung and first lady Kim Hye-kyung paid their visit to a traditional market in Seoul on Friday, shortly after attending the 70th Memorial Day ceremony. Lee and Kim greeted small merchants at the market in Dongjak Ward, where the Memorial Day ceremony was held at Seoul National [...]
SEOUL, June 6 (Korea Bizwire) — President Lee Jae-myung on Friday appointed a former vice finance minister, Kim Yong-beom, as his presidential chief of staff for policy, the presidential office said. Kim had served in various capacities at the finance ministry and the financial regulator since entering public service in 1987. Kang Hoon-sik, Lee’s chief [...]
SEOUL, June 6 (Korea Bizwire) — South Korean brokerage stocks are soaring on renewed optimism over the new administration’s stock market revitalization agenda, fueling a dramatic uptick in leveraged retail investing. But analysts warn that selective, fundamentals-based investment is now essential as market differentiation is expected to intensify. According to data compiled by Yonhap Infomax, credit-based [...]
SEOUL, June 6 (Korea Bizwire) — In a bid to strengthen its defenses against rising cyber threats, the Seoul Metropolitan Government has announced its first-ever ordinance dedicated to cybersecurity, marking a significant step beyond previous administrative regulations. On Thursday, the city officially unveiled a draft of the Seoul Cybersecurity Ordinance, elevating its current cybersecurity protocols [...]
SEOUL, June 6 (Korea Bizwire) – Global tech giants Apple and Google are facing intensifying legal and political challenges to their longstanding in-app payment fee policies, prompting a growing number of South Korean game and IT companies to join class action efforts in the United States. According to Wither People, a Seoul-based law firm representing the [...]
SEOUL, June 5 (Korea Bizwire) – A wooden boat carrying four North Korean residents drifted into waters south of the Northern Limit Line, the de facto inter-Korean maritime border, in the East Sea last week, the military said Thursday. “The military detected a small North Korean wooden boat in waters some 100 kilometers east of [...]
SEOUL, June 5 (Korea Bizwire) — President Lee Jae-myung on Thursday instructed the government to swiftly prepare the relocation of the Ministry of Oceans and Fisheries to the southeastern city of Busan, his office said, one of his major campaign pledges. Lee issued the directive during his first Cabinet meeting since taking office on Wednesday, [...]
SEOUL, June 5 (Korea Bizwire) — South Korea considers the White House’s recent comments about China’s interference in democracies, made after the presidential election, as a separate issue unrelated to the election itself, a Seoul official said Thursday. Following South Korea’s presidential election Tuesday, a White House official said that while “South Korea had a [...]
SEOUL, June 5 (Korea Bizwire) — President Lee Jae-myung has formed a policy planning committee to draw up the new government’s policy roadmap, which will effectively serve as a presidential transition team, his office said Thursday. The president appointed Lee Han-joo, head of the Democratic Party’s Institute for Democracy think tank, as the chair of [...]
SEOUL, June 5 (Korea Bizwire) — The floor leader of the People Power Party (PPP) announced his resignation Thursday, as the conservative party is reeling from a defeat in the presidential election earlier this week. Rep. Kweon Seong-dong told a meeting of party lawmakers at the National Assembly that he is resigning to take responsibility [...]