SEOUL, Dec. 31 (Korea Bizwire) — South Korea will implement a new trade rule this week focusing on offering broader support for companies impacted by free trade agreements (FTAs) and other trade pacts, the industry ministry said Tuesday. The Act on Addressing Changes in Trade Environment, an upgraded version of the Act on Trade Adjustment [...]
SEOUL, Dec. 31 (Korea Bizwire) — A South Korean court has ruled that informal discussions about start dates and verbal indications of potential job acceptance following an interview do not constitute a binding employment contract. The decision also clarified that rescinding such offers does not qualify as unfair dismissal. On Monday, 2024, the Seoul Administrative [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 31 (Korea Bizwire) — North Korean leader Kim Jong-un has sent a New Year’s letter to Russian President Vladimir Putin, vowing to further solidify bilateral military cooperation, the North’s state media reported Tuesday. “The New Year 2025 will be recorded as the first year of war victory in the 21st century when the [...]
SEOUL, Dec. 31 (Korea Bizwire) — Concerns are mounting within the low-cost carrier (LCC) industry that the image of budget airlines could be tarnished in the wake of the recent Jeju Air crash, according to industry watchers Tuesday, with industry players fearing a decline in demand for air travel. “It’s a somber atmosphere across the entire [...]
SEOUL, Dec. 31 (Korea Bizwire) — North Korean leader Kim Jong-un has inspected a new tourist zone along the country’s east coast, stressing that the project is the “first big step” in advancing the country’s tourism, state media reported Tuesday. Kim looked around newly completed hotels and other service facilities in the Kalma coastal tourist [...]
SEOUL, Dec. 31 (Korea Bizwire) — Acting President Choi Sang-mok on Tuesday directed the government to address necessary improvements to the airline operation system, as the country mourns a tragic plane crash that claimed 179 lives. Choi’s order comes after the Jeju Air plane, carrying 181 people, belly-landed and exploded at an airport in the [...]
MUAN, South Korea, Dec. 31 (Korea Bizwire) — The remains of 174 of the 179 people killed in this week’s Jeju Air plane crash have tentatively been identified, the land ministry said Tuesday. During a briefing for victims’ families at Muan International Airport in the county 288 kilometers south of Seoul, the ministry said it [...]
SEOUL, Dec. 31 (Korea Bizwire) — A special inspection to ensure the safety of military aircraft is under way as the defense ministry has ordered the military to examine all aircraft following the fatal Jeju Air crash, officials said Tuesday. The Navy has kicked off a safety inspection that will run through Saturday to examine [...]
SEOUL, Dec. 31 (Korea Bizwire) — A Seoul court on Tuesday issued a warrant to detain impeached President Yoon Suk Yeol over his botched martial law imposition, making him the first sitting South Korean president to face arrest. The Seoul Western District Court approved a request from the Corruption Investigation Office for High-ranking Officials (CIO) [...]