SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s economy is grappling with mounting challenges, as domestic construction downturns and global trade uncertainties weigh heavily on growth prospects, according to a report by the Korea Development Institute (KDI) on December 9. While the report notably avoided direct mention of the ongoing political turmoil surrounding President Yoon [...]
SEOUL, Dec. 10 (Korea Bizwire) – Major South Korean cryptocurrency exchanges have initiated compensation procedures for service disruptions that occurred during the December 3 martial law crisis. The exchanges are accepting compensation claims to minimize investor losses caused by access problems and delayed transactions, with some already having completed partial reimbursements. According to industry sources, leading exchanges [...]
SEOUL, Dec. 9 (Korea Bizwire) — The Seoul city government said Monday it will expand the operation of late-night taxis and extend the operation hours of buses until the year-end to meet the surge in demand from year-end gatherings. The city plans to supply 1,000 additional night cabs and set up temporary taxi stops in [...]
SEOUL, Dec. 9 (Korea Bizwire) – As nationwide protests criticizing President Yoon Suk Yeol’s declaration of martial law gain momentum, a wave of innovative, community-driven acts is capturing attention. Among them, citizens and students are pre-paying for food and drinks—such as coffee, rice rolls, and soups—at nearby shops to support fellow demonstrators. Social media platforms [...]
SEOUL, Dec. 9 (Korea Bizwire) — Prosecutors questioned former Defense Minister Kim Yong-hyun for the third round on Monday on treason charges related to President Yoon Suk Yeol’s martial law declaration last week. The special prosecution investigation team handling the case brought Kim in for questioning Monday morning on treason, abuse of power and other [...]
SEOUL, Dec. 9 (Korea Bizwire) — Police said Monday they are reviewing whether to impose a travel ban on President Yoon Suk Yeol to investigate him over treason and other charges related to his short-lived declaration of martial law last week. Yoon has been booked as a suspect in investigations by both the police and [...]
SEOUL, Dec. 9 (Korea Bizwire) — Civic groups were set to stage another candlelight vigil near the National Assembly on Monday to call for the impeachment of President Yoon Suk Yeol over last week’s botched martial law declaration. The rally, led by the Korean Confederation of Trade Unions (KCTU), one of the largest umbrella labor [...]
GYEONGJU/SEOUL, South Korea, Dec. 9 (Korea Bizwire) — Seven people aboard a capsized boat off the southeastern coast were found in a state of cardiac arrest Monday, the Coast Guard said. The seven were among eight crew members aboard the 29-ton Geumgwang when the fishing vessel collided with a 456-ton cargo ship and capsized in [...]
SEOUL, Dec. 9 (Korea Bizwire) — The head of a special forces unit involved in last week’s martial law enforcement said Monday his soldiers are victims used by former Defense Minister Kim Yong-hyun and vowed to take full responsibility over his unit’s actions. Col. Kim Hyun-tae, head of the 707th Special Mission Group, made the [...]
SEOUL, Dec. 9 (Korea Bizwire) — The government is ready to deploy immediate market stabilization measures, including the injection of “value-up funds” into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the statement during an emergency meeting with top economic and financial officials, as South Korea grapples with the fallout from President Yoon [...]