SEOUL, Dec. 9 (Korea Bizwire) — The main opposition Democratic Party (DP) proposed a special counsel bill on Monday to investigate whether President Yoon Suk Yeol committed treason and other violations during his short-lived declaration of martial law last week. Rep. Kim Yong-min, the DP’s deputy floor leader for policy, and Rep. Kim Seung-won submitted [...]
SEOUL, Dec. 9 (Korea Bizwire) – The South Korean military flew drones over Pyongyang in October at the order of then Defense Minister Kim Yong-hyun, who is currently under investigation for his involvement in the martial law declaration, a lawmaker said Monday. Citing a tip-off from within the military, Rep. Park Beom-kye of the main [...]
SEOUL, Dec. 9 (Korea Bizwire) – Prosecutors investigating alleged treason following President Yoon Suk Yeol’s short-lived martial law imposition last week have questioned Army Chief of Staff Gen. Park An-su, who had been named to lead the martial law command, informed officials said Monday. Park was grilled by prosecutors as a witness at the Seoul Central [...]
SEOUL, Dec. 9 (Korea Bizwire) – The Seoul Metropolitan Government has announced a strategic partnership with India’s prestigious Indian Institute of Technology (IIT) Delhi to strengthen cooperation in the artificial intelligence (AI) sector. The agreement, signed on December 6 during a Seoul delegation’s visit to India, aims to advance innovation and collaboration between two global [...]
ANDONG, Dec. 9 (Korea Bizwire) – North Gyeongsang Province announced on December 8 that it will conduct special enforcement measures across its 22 cities and counties, focusing on seafood origin labeling verification and illegal fishing activities in the East Sea, with particular attention to snow crabs. This initiative comes in response to growing concerns about potential mislabeling [...]
SEOUL, Dec. 9 (Korea Bizwire) – Following President Yoon Suk Yeol’s shock declaration of martial law on December 3, foreign investors have initiated a significant withdrawal from South Korean financial institutions, marking a notable shift in international investment patterns in the country’s markets. The exodus appears driven by concerns that the financial sector could be particularly [...]
SEOUL, Dec. 8 (Korea Bizwire) — Several taxi drivers have gained widespread admiration after refusing to charge fares for passengers heading to a large protest in favor of impeaching President Yoon Suk Yeol. On December 7, a user on X (formerly Twitter) shared a screenshot showing a canceled taxi fare of 23,500 won. The driver had [...]
SEOUL, Dec. 6 (Korea Bizwire) — North Korea will hold a key session of its rubber-stamp parliament next month to discuss a range of issues, including a constitutional amendment, the North’s state media reported Friday. The standing committee of the Supreme People’s Assembly held its 34th plenary meeting the previous day at the Mansudae Assembly [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea is witnessing a steady shift toward transparent corporate governance as more conglomerates adopt holding company structures. However, concerns are mounting over indirect investments via overseas subsidiaries, potentially enabling unfair internal transactions and abuse of authority. According to the Fair-Trade Commission (FTC), 43 of the country’s 88 conglomerates [...]
WASHINGTON, Dec. 5 (Korea Bizwire) — The South Korea-U.S. alliance “transcends any particular president,” a State Department spokesperson said Thursday, as the National Assembly is moving to vote on an impeachment motion against President Yoon Suk Yeol over his short-lived martial law imposition. Principal deputy spokesperson Vedant Patel made the remarks, voicing expectation that the [...]