SEOUL, March 21 (Korea Bizwire) — North Korea has successfully test-fired its latest surface-to-air missile system, which was recently put into full-scale production, as leader Kim Jong-un oversaw the test, state media reported Friday. The test-firing was conducted by the country’s Missile Administration on Thursday to “examine the comprehensive performance” of the missile system being [...]
SEOUL, March 21 (Korea Bizwire) — North Korean leader Kim Jong-un has inspected a military dockyard in the western port city of Nampho and ordered a rapid increase in shipbuilding capacity to bolster its naval forces, state media reported Friday. Kim gave “field guidance” at the Nampho Dockyard on Thursday and inspected its various production [...]
SEOUL, March 21 (Korea Bizwire) — Two North Koreans aboard a wooden boat drifting in the Yellow Sea were discovered earlier this month and are now under questioning, military officials said Friday. The military took the two men into custody after a P-3 maritime patrol aircraft discovered the boat in waters 170 kilometers west of [...]
SEOUL, March 21 (Korea Bizwire) — The finance ministry said Friday it will ease restrictions on duty-free alcohol purchases for local tourists visiting the southern resort island of Jeju. Under the revised regulations, the current two-bottle limit will be removed, while the overall allowance remains at up to 2 liters of duty-free alcoholic beverages, with [...]
SEOUL, March 21 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday called for reforming South Korea’s college entrance system in order to nurture talents capable of leading innovations. Rhee made the point during the opening ceremony of a research institute on population and talent issues at Yonsei University in Seoul. “Leading [...]
SEOUL, March 20 (Korea Bizwire) – Owners of small businesses in South Korea typically operate for an average of 6 years and 6 months before closing shop, accumulating approximately 100 million won in debt during their business lifecycle, according to findings released today by the Korea Federation of SMEs. The data comes from a survey of [...]
SEOUL, March 20 (Korea Bizwire) — South Korea has formally confirmed its ratification of a U.N. agreement on the sustainable use of marine biological diversity, becoming the first East Asian country to do so, Seoul’s foreign ministry said Thursday. South Korean Ambassador to the U.N. Hwang Joon-kook deposited an instrument of the ratification for the [...]
SEOUL, March 20 (Korea Bizwire) — As phone-based phishing scams grow increasingly sophisticated, South Koreans are turning in droves to “Citizen Conan,” an anti-phishing app operated by the National Police Agency. According to mobile analytics firm IGAWorks Mobile Index, the number of Citizen Conan users surged by 215.9% in February, reaching 1.39 million, compared to [...]
SEOUL, March 20 (Korea Bizwire) — The government will provide incentives to public entities entering the offshore wind power market as part of efforts to promote the growth of the renewable energy industry, the industry ministry said Thursday. Public institutions and companies that make a bid for the government’s offshore wind power development project will [...]
SEOUL, March 20 (Korea Bizwire) — The South Korean government has unveiled a comprehensive plan to protect its steel industry from mounting trade risks, including the recent 25% tariff imposed by the Trump administration in the United States and an influx of low-cost Chinese steel. The Ministry of Trade, Industry and Energy announced on Wednesday [...]