SEOUL, Jan. 22 (Korea Bizwire) — The state defense procurement agency officially launched the fourth and final phase of its next-generation frigate project on Wednesday as part of efforts to replace the Navy’s aging warships. Defense officials and companies involved in the project gathered at Hanwha Ocean Co.’s headquarters in Geoje, 329 kilometers southeast of [...]
SEOUL, Jan. 22 (Korea Bizwire) — Investigators arrived at the Seoul Detention Center on Wednesday to make their third attempt to forcibly bring in President Yoon Suk Yeol for questioning over his failed martial law bid. A vehicle belonging to the Corruption Investigation Office for High-ranking Officials (CIO) was seen entering the detention center in [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korean authorities are raising alarms over a surge in voice phishing scams involving fraudulent credit card deliveries. According to the National Police Agency’s Telecommunication and Financial Fraud Response Center, reports of “card delivery scams” skyrocketed to 6,619 cases in November 2024, a 75-fold increase from just 88 cases [...]
SEOUL, Jan. 22 (Korea Bizwire) — Members of South Korea’s National Assembly sharply criticized Coupang Inc.’s founder Kim Bom-suk for his absence from a parliamentary hearing on January 21 focused on improving working conditions for the e-commerce giant’s delivery workers, particularly regarding late-night labor practices. The hearing, held by the Environment and Labor Committee, was attended [...]
SEOUL, Jan. 22 (Korea Bizwire) — Coupang, one of South Korea’s largest e-commerce companies, has admitted to maintaining an employment blacklist affecting over 16,000 individuals, following revelations by MBC in February 2024. This marks the first time the company has publicly acknowledged the controversial list, which allegedly barred reemployment of workers and even included journalists critical [...]
SEJONG, Jan. 21 (Korea Bizwire) — South Korea’s customs authorities intercepted a record volume of illegal drugs in 2024, with 862 cases totaling 787 kilograms, enough to supply approximately 26 million doses. This marks a 22% increase in the number of cases and a 2% rise in total weight compared to the previous year, according to [...]
SEOUL, Jan. 21 (Korea Bizwire) — The Korea Corporate Governance Forum (KCGF) lauded Samsung Electronics for its decision to award executive performance bonuses in company stock, calling it “a significant step toward an advanced compensation model.” In a statement issued on January 20 by Chairman Lee Nam-woo, the forum noted that this marks an important [...]
SEOUL, Jan. 21 (Korea Bizwire) — Automotive industry experts on Tuesday urged the government to revise its ambitious target of deploying 4.5 million zero-emission vehicles by 2030, part of the nation’s greenhouse gas reduction goals, to align with practical realities. Yoon Kyung-sun, executive managing director of the Korea Automobile & Mobility Association (KAMA), called the [...]
WASHINGTON, Jan. 20 (Korea Bizwire) – U.S. President Donald Trump on Monday described North Korea as a “nuclear power” and anticipated that North Korean leader Kim Jong-un will be “happy” to see his return to the White House. During a press availability at the Oval Office, Trump made his first public mention of the recalcitrant [...]
SEOUL, Jan. 21 (Korea Bizwire) — One of the two North Korean soldiers captured by Ukraine this month has claimed that he arrived in Russia without knowing whom he would be fighting, according to another video of his interrogation released by Ukrainian President Volodymyr Zelenskyy. Earlier this month, Zelenskyy disclosed that his forces had captured [...]