SEOUL, Jan. 3 (Korea Bizwire) — The number of babies born in South Korea rose for the first time in nine years last year, government data showed Friday, in a rare turnaround for the nation grappling with one of the world’s lowest fertility rates. A total of 242,334 babies were born last year, up 3.1 [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea has introduced a revised subsidy scheme for electric buses in 2025, offering additional financial incentives to manufacturers of hydrogen and school buses while implementing stricter criteria to prioritize safety and transparency. The move is seen as a response to concerns over the growing presence of Chinese-made electric [...]
SEOUL, Jan. 3 (Korea Bizwire) — Advertising industry experts predict a significant downturn in South Korea’s advertising market this year, citing growing political uncertainties and deteriorating economic conditions. The absence of major sporting events like the Olympics or World Cup has further dampened prospects for market recovery. As concerns mount over economic growth potentially dropping to [...]
WASHINGTON, Jan. 2 (Korea Bizwire) — South Korean crypto mogul Kwon Do-hyeong could face up to 130 years in prison if he is convicted of all fraud and other charges, the U.S. Justice Department said Thursday, as he made his initial appearance in a New York court and pleaded not guilty to those charges. Kwon, [...]
GWANGJU, Jan. 3 (Korea Bizwire) — Funerals for five more victims of the fatal Jeju Air plane crash were held in the southwestern city of Gwangju and nearby areas on Friday, after the first four of the 179 victims killed in Sunday’s disaster were laid to rest in services the previous day. Grieving bereaved families [...]
ANDONG, South Korea, Jan. 3 (Korea Bizwire) — Police will investigate a drama production team from public broadcaster KBS for allegedly hammering nails at a UNESCO World Heritage site to hang a prop, officials said Friday. Gyeongbuk Provincial Police said a complaint was filed earlier in the day by a person known as a citizen [...]
SEOUL, Jan. 3 (Korea Bizwire) — Investigators attempting to execute a warrant to detain impeached President Yoon Suk Yeol over his failed martial law bid were locked in a standoff with the Presidential Security Service outside the presidential residence Friday. Investigators with the Corruption Investigation Office for High-ranking Officials (CIO) presented warrants to detain Yoon [...]
SEOUL, Jan. 3 (Korea Bizwire) — The military has deployed a new surveillance system using artificial intelligence technology at an eastern front-line unit, the state arms procurement agency said Friday, as the military seeks to harness the advanced technology to better deter North Korean threats. The new system deployed at the Army’s 22nd Infantry Division [...]
SEOUL, Jan. 3 (Korea Bizwire) — Prosecutors on Friday indicted the top commander of the Army and the head of its special warfare unit over their alleged roles in the short-lived imposition of martial law last month. Army Chief of Staff Gen. Park An-su, who served as martial law commander, and Lt. Gen. Kwak Jong-keun, [...]
SEOUL, Jan. 3 (Korea Bizwire) — North Korean leader Kim Jong-un has met with athletes from the national women’s football team and praised their recent victory in the Under-17 Women’s World Cup, state media reported Friday. In the meeting held the previous day, Kim praised them for “highly promoting” the nation’s honor with the World [...]