SEOUL, Dec. 3 (Korea Bizwire) – As South Korea confronts an aging population, discussions around extending the retirement age are gaining momentum in political and corporate circles. While companies remain wary of increased wage burdens, they are exploring flexible approaches to address the issue. The ruling People Power Party has highlighted the urgency of reform. [...]
SEOUL, Dec. 3 (Korea Bizwire) — Russia is believed to have used some 60 ballistic missiles provided by North Korea in the war against Ukraine, a Ukrainian media outlet has reported, citing its intelligence authorities. Andrii Chernyak, the representative of the Defense Intelligence of Ukraine’s (DIU) defense ministry, shared the analysis in an interview with [...]
JEJU, South Korea, Dec. 3 (Korea Bizwire) — A group of Vietnamese tourists who entered South Korea through the southern island of Jeju last month has disappeared, authorities said Tuesday. The 38 people were among a group of some 90 tourists who arrived in Jeju from Nha Trang, Vietnam, on a chartered VietJet Air flight [...]
SEOUL, Dec. 3 (Korea Bizwire) — A senior presidential official said Tuesday that a now-disbanded consultative body on a prolonged walkout by trainee doctors could be reopened, but urged relevant parties to make more efforts to resolve the medical impasse. Jang Sang-yoon, senior presidential secretary for social policy, made the remark during a radio interview [...]
SEOUL, Dec. 3 (Korea Bizwire) — The unification ministry on Tuesday called on North Korea to “immediately and unconditionally” release Choi Chun-gil, a South Korean missionary detained in North Korea and five other nationals on the occasion of marking 10 years since his arrest. Choi is among six South Koreans who have currently been in [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea is witnessing a sharp rise in young people opting out of work or job-seeking, raising fears of a growing NEET (Not in Education, Employment, or Training) population, according to a recent report by the Bank of Korea. The study, released on Monday, reveals that the number of [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea is introducing stricter penalties for crimes involving the unauthorized transfer of defense industry technology abroad, reflecting heightened concerns over national security. The Ministry of National Defense and the Defense Acquisition Program Administration announced on Tuesday that amendments to the Defense Industry Technology Protection Act were promulgated and will [...]
SEOUL, Dec. 3 (Korea Bizwire) – Starting January 1, 2025, South Korea will waive out-of-pocket costs for cesarean section deliveries, addressing a longstanding disparity in childbirth-related healthcare expenses. The Ministry of Health and Welfare announced on Tuesday that an amendment to the National Health Insurance Act Enforcement Decree, which includes this provision, was approved during a [...]
SEOUL, Dec. 3 (Korea Bizwire) – A seemingly straightforward directive from the Seoul city government about the English naming of its main waterway has sparked a broader debate about Korean place names in English, highlighting tensions between linguistic accuracy and cultural preservation. On November 19, Seoul city officials announced that “Hangang River” is the correct English [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s economic backbone—households headed by those in their 40s—saw a sharp drop in business income during the third quarter, reflecting prolonged domestic demand stagnation and heightened challenges for self-employed workers. According to Statistics Korea on Friday, the average business income for 40-something households fell to ₩1.07 million, down 13.1% [...]