SEOUL, Oct. 10 (Korea Bizwire) — Qoo10 CEO Ku Young-bae attended a court hearing held on Thursday to determine whether to issue an arrest warrant on fraud and embezzlement charges related to his e-commerce group’s large-scale payment delays to vendors. Ku appeared at the Seoul Central District Court for his hearing, which will be shortly [...]
VIENTIANE, Oct. 10 (Korea Bizwire) — President Yoon Suk Yeol said Thursday that South Korea will double its cooperation funds with the Association of Southeast Asian Nations (ASEAN) to US$48 million by 2027 to support key projects in the region. Yoon made the pledge during a summit with ASEAN leaders in Laos after elevating South [...]
SEOUL, Oct. 10 (Korea Bizwire) – Three key South Korean government bodies announced on October 9 that they will initiate a bidding process for a consultancy project aimed at establishing guidelines for a Digital Product Passport (DPP) response platform. The Ministry of Trade, Industry and Energy, the Digital Platform Government Committee, and the Ministry of Science [...]
SEOUL, Oct. 9 (Korea Bizwire) – South Korean consumers are grappling with inconvenient cancellation processes and limited refund policies in the country’s burgeoning video streaming market, according to a recent government investigation. The Korea Consumer Agency and Democratic Party lawmaker Min Byoung-dug released findings on October 8 from their joint study of six major streaming providers, including [...]
SEOUL, Oct. 9 (Korea Bizwire) — North Korea has convened a key parliamentary meeting to revise the constitution, state media reported Wednesday, without disclosing details about whether it removed unification-related clauses or stipulated territorial boundaries in line with an order by leader Kim Jong-un. At the 11th session of the 14th Supreme People’s Assembly (SPA) [...]
SEOUL, Oct. 9 (Korea Bizwire) – In South Korea, over 270,000 people have been diagnosed with long Covid, the lingering effects of coronavirus infection, according to data released by the Health Insurance Review and Assessment Service. The figures, obtained by Baek Jong-heon, a lawmaker from the People Power Party, show that from 2020 through July of this [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s peak electricity demand hit a new record in September, as the scorching summer heat extended into the autumn season, data showed Wednesday. The country’s peak power demand last month averaged 78 gigawatts, a 6 percent increase from a year earlier, according to the Korea Power Exchange, marking [...]
SEOUL, Oct. 9 (Korea Bizwire) — North Korea’s military said it will cut off all roads and railways connected to South Korea starting Wednesday and build “strong defense structures” in the areas in response to South Korea-U.S. military maneuvers. “A project will be launched first on October 9 to completely cut off roads and railways [...]
SEOUL, Oct. 9 (Korea Bizwire) – As South Korea grapples with a plummeting birth rate, a growing number of childcare facilities are finding new purpose as long-term care centers for the elderly, highlighting the country’s dramatic demographic shift. According to data obtained by Representative Jeon Jin-suk of the Democratic Party from 17 provincial and metropolitan governments, [...]
SEOUL, Oct. 9 (Korea Bizwire) – The possibility of war breaking out on the Korean Peninsula has reached its highest level since the 1950-53 Korean War, according to a recent analysis published in Foreign Policy magazine. Robert Manning, a senior fellow at the Stimson Center, a Washington-based think tank, wrote in his article that while an immediate [...]