SEOUL, Dec. 20 (Korea Bizwire) – South Korean workers reported an average annual income of 43.32 million won in 2023, an increase of more than 1 million won from the previous year, according to year-end tax settlement data. The number of high-income earners making over 100 million won annually reached 1.39 million, while 33% of workers [...]
SEOUL, Dec. 20 (Korea Bizwire) – Starting December 21, real estate registry documents for properties under trust will include precautionary notes to prevent rental scams, particularly jeonse fraud, following amendments to the Real Estate Registration Act, the Supreme Court’s Administration Office announced on December 19. Jeonse fraud occurs when tenants are defrauded in jeonse transactions—a unique [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Korea’s ambitious “Blue Whale Project,” aimed at exploring oil and gas reserves off the coast of Pohang, is facing significant hurdles due to political turmoil, budget cuts, and opposition from local fishermen. The drilling vessel West Capella began operations on December 17, drilling 2 kilometers into the seabed at [...]
SEOUL, Dec. 19 (Korea Bizwire) – South Koreans will soon be able to benefit from a new service that analyzes their usage patterns to recommend optimal smartphone plans, according to an announcement by the Ministry of Science and ICT on December 18. The initiative was approved along with four other regulatory exemptions during the 38th New [...]
SEOUL, Dec. 19 (Korea Bizwire) — The proportion of unmarried individuals in their 40s increased 6.7 times for men and 5.7 times for women in 2020 compared with 20 years earlier, a government report showed Thursday, underscoring the trend of delayed marriages that is partly blamed for South Korea’s ultra-low birth rate. The growing trend [...]
SEOUL, Dec. 19 (Korea Bizwire) — Some 100 military vehicles and 12 Blackhawk helicopters were mobilized by the military for the short-lived martial law imposition on Dec. 3, an opposition lawmaker said Thursday. The list of mobilized equipment includes 107 vehicles, such as buses and armed tactical vehicles, as well as choppers that carried special [...]
SEOUL, Dec. 19 (Korea Bizwire) — The Constitutional Court is set to hold the first plenary meeting of its justices Thursday since receiving the National Assembly’s impeachment case against President Yoon Suk Yeol. The Council of Justices, which is held regularly and attended by all justices to discuss pending cases, is expected to deal with [...]
SEOUL, Dec. 19 (Korea Bizwire) — A shaman reportedly close to President Yoon Suk Yeol and his wife attended his arrest warrant hearing at a court Thursday after being charged with receiving illegal political funds about six years ago. Jeon Seong-bae, also known as Geon Jin, was detained by prosecutors earlier this week on suspicion [...]
SEOUL, Dec. 19 (Korea Bizwire) — Acting President Han Duck-soo held phone talks with Japanese Prime Minister Shigeru Ishiba on Thursday and agreed to continue trilateral security cooperation with the United States to cope with the deepening military ties between North Korea and Russia, officials said. Han held the phone conversation with Ishiba after President [...]
SEOUL, Dec. 19 (Korea Bizwire) — The Seoul city government on Thursday announced a list of civic representatives to take part in the bell-ringing ceremony in downtown Seoul at midnight on New Year’s Eve. The 11 civic bell ringers were selected from among some 90 people recommended by the public last month for overcoming adversity [...]