SEOUL, Dec. 26 (Korea Bizwire) — The South Korean government designated a semiconductor cluster in Yongin, located on the southern outskirts of Seoul, as a national industrial complex, aiming to create one of the country’s biggest chip manufacturing hubs by 2030, the land ministry said Thursday. According to the ministry, the plan for the Yongin [...]
SEOUL, Dec. 26 (Korea Bizwire) — Insurance payouts for small business closures in South Korea have reached a historic high of 1.3 trillion won in 2024, reflecting the deepening impact of the economic slowdown, according to the Korea Federation of SMEs. The federation reported on December 25 that payments under the “Yellow Umbrella” business closure insurance [...]
SEOUL, Dec. 26 (Korea Bizwire) — The government unveiled a set of measures Thursday aimed at stabilizing its tourism sector, facing setbacks after President Yoon Suk Yeol’s brief martial law declaration and impeachment. The Ministry of Culture, Sports and Tourism reported the measures during a government meeting presided over by acting President and Prime Minister [...]
SEOUL, Dec. 26 (Korea Bizwire) — The Supreme Court on Thursday ordered a retrial for two former heads of humidifier disinfectant makers who had been sentenced to prison terms for producing and selling toxic products that resulted in illness and death among customers. The top court overturned the four-year prison sentences for Hong Ji-ho, former [...]
SEOUL, Dec. 26 (Korea Bizwire) — The opposition-controlled National Assembly is set to vote on the appointment of three Constitutional Court justice nominees at a parliamentary plenary meeting Thursday. It remains to be seen whether acting President Han Duck-soo would approve the final appointment of the three new judges. The main opposition Democratic Party (DP) [...]
SEOUL, Dec. 26 (Korea Bizwire) — The Army on Thursday received the first model of the homegrown Light Armed Helicopter (LAH) as part of its efforts to modernize the fleet of aging helicopters, the state defense procurement agency said. A ceremony to mark the helicopter’s delivery took place at the headquarters of its manufacturer Korea [...]
SEOUL, Dec. 26 (Korea Bizwire) — South Korea said Thursday it will impose independent sanctions on 15 North Korean IT workers and one entity over their roles in the illicit cyber activities to fund the country’s nuclear and missile development. Fourteen of the 15 individuals, including Pak Hung-ryong, Yun Jong-sik and Ri Il-jin, are suspected [...]
SEOUL, Dec. 26 (Korea Bizwire) — President Yoon Suk Yeol ordered the deletion of a public curfew in an initial draft of the martial law decree issued earlier this month, a lawyer for former Defense Minister Kim Yong-hyun claimed Thursday. Kim’s lawyer, Yoo Seung-soo, said the former minister had originally written the draft that included [...]
SEOUL, Dec. 26 (Korea Bizwire) —Sejong emerged as the leading region for work-life balance in South Korea in 2023, according to a report released by the Ministry of Employment and Labor on Wednesday. The region excelled in providing optimal working hours, leisure opportunities, and effective implementation of work-family integration policies. The annual Regional Work-Life Balance [...]
GUMI, Dec. 25 (Korea Bizwire) — On Christmas morning, hundreds of bottles of drinking water were delivered to the Korean Optical High Tech factory in Gumi, North Gyeongsang Province, where two dismissed workers have been staging a grueling rooftop sit-in protest for 352 days. The delivery was a result of a spontaneous nationwide campaign sparked [...]