SEOUL, INCHEON & BEIJING, March 18 (Korea Bizwire) — A standoff between South Korean and Chinese maritime authorities has erupted in the West Sea’s Provisional Measure Zone (PMZ) near Ieodo, after South Korea attempted to investigate an unauthorized steel structure installed by China. According to government sources, on February 26, South Korea dispatched the Onnuri, a [...]
JEJU, South Korea, March 18 (Korea Bizwire) — In response to a recent uptick in crimes involving foreign nationals, the Jeju Provincial Police Agency has launched a sweeping 100-day public safety campaign aimed at strengthening oversight of the island’s visa-free entry system and curbing illegal activities. The initiative, led by Deputy Commissioner Jeong Seong-su, will run [...]
SEOUL, March 18 (Korea Bizwire) — If given the chance to restart their retirement planning, South Korean retirees would overwhelmingly choose real estate investment as their primary strategy, according to a new national survey released today by the Korea Insurance Development Institute. The survey, conducted last November across South Korea’s 17 provinces and major cities, gathered [...]
SEOUL, March 18 (Korea Bizwire) — South Korea’s middle class continues to experience a prolonged decline in consumer spending, even as low- and high-income groups show signs of recovery, according to a new report from the Korea Chamber of Commerce and Industry (KCCI) released Monday. The study, titled “Recent Consumption Trends and Implications,” analyzed real [...]
SEOUL, March 18 (Korea Bizwire) — A majority of leading South Korean companies now evaluate job candidates’ compatibility with their organizational culture during the hiring process, according to the results of a government survey released on March 17, highlighting a growing emphasis on workplace cultural alignment in Asia’s fourth-largest economy. The Ministry of Employment and Labor and [...]
WASHINGTON, March 17 (Korea Bizwire) — A U.S. Department of Energy (DOE) laboratory contractor employee was terminated after attempting to board a flight to South Korea with export controlled information on nuclear reactor design software, a report showed Monday. Idaho National Laboratory (INL) terminated the person during the reporting period from Oct. 1, 2023 through [...]
SEOUL, March 18 (Korea Bizwire) — A general supervising operations of the U.S. Forces Korea (USFK) has pledged to maintain a “strong, forward-deployed force” in South Korea in a bid to ensure its security commitment in the face of North Korea’s military threats. Maj. Gen. William D. “Hank” Taylor, director of operations for United Nations [...]
SEOUL, March 18 (Korea Bizwire) — The unification ministry is expected to resume its tour program to the truce village of Panmunjom on the inter-Korean border next month following its suspension in late 2023 due to military tensions, officials said Tuesday. “With the goal of resuming the tour program to Panmunjom next month, (the ministry) [...]
SEOUL, March 18 (Korea Bizwire) — North Korean delegations for economy and public health affairs have left for Russia, state news media reported Tuesday, signaling active bilateral cooperation between the two countries. The government’s economic delegation, led by Yun Jong-ho, external economic relations minister, left Pyongyang on Monday to visit Russia, the Korean Central News [...]
SEJONG, March 18 (Korea Bizwire) — South Korean Industry Minister Ahn Duk-geun is set to meet with the governor of Alaska next week in Seoul and discuss Seoul’s possible participation in the gas pipeline project in the U.S. state, diplomatic sources said Tuesday. Ahn plans to hold a face-to-face meeting with Alaska Gov. Mike Dunleavy, [...]