SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s economy is forecast to expand 1.8 percent this year, the government said Thursday, emphasizing “stable management” as its primary policy focus amid unprecedented levels of uncertainty. The latest projection for Asia’s fourth-largest economy falls below the Bank of Korea’s forecast of 1.9 percent and the estimates of [...]
SEOUL, Jan. 2 (Korea Bizwire) – Japanese Ambassador to South Korea Koichi Mizushima on Thursday reaffirmed the importance of the bilateral relations between South Korea and Japan despite the political turmoil surrounding President Yoon Suk Yeol’s impeachment over his brief martial law bid. Mizushima made the remarks in his New Year’s message, voicing hope that [...]
MUAN, South Korea, Jan. 2 (Korea Bizwire) — Police on Thursday raided Muan International Airport, the office of Jeju Air and other locations over the airline’s deadly crash that killed 179 people. The Jeonnam Provincial Police conducted search and seizure operations into the airport in southwest South Korea, the Seoul office of Jeju Air and [...]
SEOUL, Jan. 2 (Korea Bizwire) — Acting President Choi Sang-mok said Thursday the government will consider implementing additional measures to stimulate the economy in the first quarter, if necessary, amid projections of slow growth for the year. “Considering significant domestic and international uncertainties, (the government) will reassess overall economic conditions during the first quarter, including [...]
SEOUL, Jan. 2 (Korea Bizwire) – The average daily wage in South Korea’s construction industry will increase by approximately 2% in the first half of 2025 compared to the same period in 2024, according to data released by the Korea Construction Association on January 1. The findings are based on a September 2024 survey of [...]
SEJONG, Jan. 2 (Korea Bizwire) – South Korea is streamlining its building energy efficiency evaluation system by integrating the Building Energy Efficiency Rating System into the Zero Energy Building (ZEB) Certification Program, the Ministry of Land, Infrastructure, and Transport announced on January 1. The changes are part of the Third Green Building Master Plan (2025–2029), [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 its 2025 hydrogen vehicle subsidy plan, allocating funds to support the purchase of 11,000 hydrogen passenger cars, 2,000 hydrogen buses, and 10 units each of hydrogen-powered trucks and street-cleaning vehicles. The finalized subsidy guidelines, to be published on January 2 [...]
SEOUL, Jan. 1 (Korea Bizwire) — Power companies in South Korea will face tougher carbon emissions rules starting in 2026, with a significant increase in the portion of greenhouse gas allowances they must purchase at auction. The move is part of the government’s plan to strengthen its emissions trading system and accelerate efforts to combat climate [...]
MUAN, South Korea, Dec. 31 (Korea Bizwire) — Following the tragic crash of Jeju Air Flight 7C2216 on December 29, in which 179 of 181 passengers and crew perished, investigators are examining how two flight attendants survived. Their location in the aircraft and the use of specialized safety equipment, such as crew jump seats and harnesses, [...]
BUSAN, Dec. 31 (Korea Bizwire) — As bird strikes remain a persistent threat to aviation safety in South Korea, recent data underscores the risks faced by major airports, particularly Gimhae International Airport, which sits adjacent to one of the nation’s key migratory bird habitats. According to records obtained by Rep. Lee Yeon-hee from the Korea [...]