WASHINGTON, Oct. 14 (Korea Bizwire) — This year’s Nobel economics prize laureates on Monday applauded South Korea’s economic rise, a key subject of their research, but pointed out a set of challenges ahead, including the fast-graying population of Asia’s fourth largest economy. They also drew a stark contrast between the economic backwater of North Korea [...]
WASHINGTON, Oct. 14 (Korea Bizwire) — About a dozen South Korean companies on Monday showcased their cutting-edge military products, including an unmanned ground vehicle, border patrol drone and automatic artillery bore cleaner, at a major exhibition in Washington, amid growing prospects for defense industrial cooperation with the United States. The Association of the U.S. Army [...]
SEOUL, Oct. 15 (Korea Bizwire) — Lottery sales in South Korea rose 7 percent on-year during the first half of this year to reach an all-time high, data showed Tuesday. Sales of lottery tickets stood at 3.62 trillion won (US$2.67 billion) in the January-June period of 2024, compared with 3.38 trillion won the previous year, [...]
SEOUL, Oct. 15 (Korea Bizwire) – In a collaborative effort to improve access to public transportation for older residents in underserved areas, South Korean authorities and industry leaders have joined forces to expand a Demand-Responsive Transport (DRT) bus system. On October 14, the National Police Agency, the National Association of Mayors, and Hyundai Motor signed a [...]
SEONGNAM, Oct. 15 (Korea Bizwire) – A recreational kayaking event in Seongnam, a city southeast of Seoul, has drawn sharp criticism from environmental groups and local politicians after an attempt to raise water levels left fish stranded in dried-up sections of the Tancheon Stream. The incident occurred during the 2024 Seongnam Festival (October 5-13), where city [...]
SEJONG, Oct. 15 (Korea Bizwire) – As South Korea grapples with one of the world’s lowest birth rates, a new study suggests that rising income inequality may be a significant contributing factor, prompting calls for integrated redistribution and birth support policies. The research, presented at a recent fiscal policy forum by Lee Jong Ha, a professor [...]
GIMCHEON, South Korea, Oct. 14 (Korea Bizwire) – A district court has ordered a manufacturing firm to pay some 10.5 million won (US$7,740) in severance pay to an illegal migrant worker, citing photos and other evidence showing the employment. The company had the worker from Indonesia work without a formal contract between November 2019 and [...]
SUWON, South Korea, Oct. 14 (Korea Bizwire) – Gyeonggi Province Gov. Kim Dong-yeon said Monday his government is considering designating some of the inter-Korean border areas within the province as “danger zones” to stop North Korean defectors and activists from sending anti-North Korea propaganda leaflets across the border. Kim made the remarks during a parliamentary [...]
SEOUL, Oct. 14 (Korea Bizwire) – South Korea and China will launch a joint forum later this week, involving government officials and private sector experts from both sides, to discuss ways to strengthen relations and cooperation, Seoul’s foreign ministry said Monday. The South Korea-China Friendship Forum is scheduled to set sail in Beijing on Thursday, as [...]
SEOUL, Oct. 14 (Korea Bizwire) — A man has been awarded nearly 900 million won (US$665,926) in state compensation after being wrongfully convicted and imprisoned on spy charges more than five decades ago and recently acquitted by a court, a government gazette showed Monday. The Seoul High Court made a decision on Oct. 4, ordering [...]