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Shipbuilding Cooperation With U.S. Chance for S. Korean Industry to Leap Forward: Acting President

Shipbuilding Cooperation With U.S. Chance for S. Korean Industry to Leap Forward: Acting President

SEOUL, April 16 (Korea Bizwire) – Acting President Han Duck-soo said Wednesday that strengthening shipbuilding cooperation with the United States could provide an opportunity for the South Korean shipbuilding industry to “make a leap forward.” Han made the remark during his visit to HD Hyundai Heavy Industries (HHI) Co.’s shipyard in Ulsan, 305 kilometers southeast [...]

Police, Presidential Security Locked in Standoff Over Attempt to Raid Presidential Office

Police, Presidential Security Locked in Standoff Over Attempt to Raid Presidential Office

SEOUL, April 16 (Korea Bizwire) — Police were locked in a five-hour standoff with presidential security officials Wednesday as they attempted to raid the presidential office over an investigation into allegations that former President Yoon Suk Yeol obstructed the execution of a detention warrant early this year. The police’s special investigation team presented a warrant [...]

S. Korea, UAE Ink Deal on Cooperation on KF-21 Jets

S. Korea, UAE Ink Deal on Cooperation on KF-21 Jets

SEOUL, April 16 (Korea Bizwire) — Senior Air Force officials from South Korea and the United Arab Emirates (UAE) on Wednesday signed a letter of intent for comprehensive cooperation on the South’s homegrown fighter jets, the South Korean Air Force said. Air Force Chief of Staff Gen. Lee Young-su and Maj. Gen. Rashed Mohammed A. [...]

Aging Sewer System Beneath Seoul Poses Growing Safety Risk, Lawmaker Warns

Aging Sewer System Beneath Seoul Poses Growing Safety Risk, Lawmaker Warns

SEOUL, April 16, (Korea Bizwire) — Nearly one-third of Seoul’s underground sewer lines have surpassed 50 years of age, with some districts relying on antiquated infrastructure for more than half of their networks, raising concerns over public safety and the growing risk of sinkholes. According to data disclosed by Rep. Jin Sun-mi of the Democratic [...]

Watchdog Finds Mislabeling, Misleading Ads in Pet Supplements

Watchdog Finds Mislabeling, Misleading Ads in Pet Supplements

SEOUL, April 16, (Korea Bizwire) — A recent investigation by the Korea Consumer Agency (KCA) has uncovered widespread mislabeling and deceptive advertising practices in pet supplements sold both online and offline, raising concerns over product safety and consumer misinformation. The agency announced on Tuesday that out of 20 pet nutritional products it tested, a significant [...]

Majority of SMEs Satisfied with Foreign Worker Permit System, Survey Finds

Majority of SMEs Satisfied with Foreign Worker Permit System, Survey Finds

SEOUL, April 16, (Korea Bizwire) — A large majority of South Korean small and medium-sized enterprises (SMEs) employing foreign workers under the country’s Employment Permit System expressed satisfaction with the current framework, despite persistent concerns about language barriers and bureaucratic complexity, a new survey shows. According to the Korea Federation of SMEs, 86.8 percent of [...]

S. Korea, U.S. Hold Joint Air Exercise Involving B-1B Bomber

S. Korea, U.S. Hold Joint Air Exercise Involving B-1B Bomber

SEOUL, April 15 (Korea Bizwire) — South Korea and the United States on Tuesday staged joint air drills, involving at least one U.S. B-1B bomber, over the Korean Peninsula, the defense ministry said, in a show of force against North Korean military threats. The drills, which also mobilized South Korean F-35A and F-16 fighter jets [...]

TV Home Shopping in Korea Faces Profit Pressure as Broadcasting Fees Consume 73% of Revenue

TV Home Shopping in Korea Faces Profit Pressure as Broadcasting Fees Consume 73% of Revenue

SEOUL, April 15, (Korea Bizwire) — South Korea’s TV home shopping industry continues to face mounting financial strain as broadcasting fees soared to consume more than 70 percent of television sales revenue in 2024, despite a modest rise in overall sales. According to a report released Monday by the Korea TV Home Shopping Association, the [...]

Top Financial Watchdog Vows to Push Ahead with Capital Market Initiatives

Top Financial Watchdog Vows to Push Ahead with Capital Market Initiatives

SEOUL, April 15 (Korea Bizwire) — The head of South Korea’s financial watchdog has vowed to push ahead with a series of steps to boost fairness and transparency in the capital markets, as well as shareholder value, the Financial Supervisory Service (FSS) said Tuesday. In a meeting with dozens of bankers and financiers in Hong [...]