SEOUL, Dec. 2 (Korea Bizwire) — President Lee Jae-myung on Tuesday condemned Coupang’s massive data breach and instructed his cabinet to swiftly determine the cause and impose strict accountability, calling the incident “astonishing” both in scale and in the company’s failure to detect the leak for nearly five months. Speaking at a Cabinet meeting in Seoul, [...]
SEOUL, Dec. 2 (Korea Bizwire) — The state arms procurement agency on Tuesday launched a 435.9 billion-won project (US$296 million) to develop short-range air-to-air guided missiles to be equipped on South Korea’s homegrown KF-21 fighter jets. Under the plan, the country aims to develop guided missiles for homegrown fighter jets by 2032, in its bid [...]
SEOUL, Dec. 2 (Korea Bizwire) — President Lee Jae-myung on Tuesday forcefully dismissed renewed proposals for South Korea to pursue its own nuclear weapons program, calling the idea “impossible” and warning that it would trigger immediate international backlash. Speaking at a Cabinet meeting at the presidential office, Lee addressed growing calls from some opposition lawmakers to [...]
SEOUL, Dec. 1 (Korea Bizwire) — The Constitutional Court has ruled that a legal provision imposing aggravated penalties for violating the drunk driving ban three or more times is not unconstitutional, court officials said Monday. The court made the ruling unanimously last Thursday in response to a petition filed by a man who was indicted [...]
SEOUL, Dec. 1 (Korea Bizwire) — The justice ministry announced Monday that it has expanded the number of countries whose nationals can use automated immigration checks when entering Incheon International Airport, increasing the list from four to 18. The latest measure allows travelers from 14 additional countries, comprising the United Kingdom, France, Italy, Finland, Portugal, [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korea’s top securities firms have narrowed their gender pay gaps over the past five years, but disparities remain substantial, according to regulatory filings released on Sunday. Semiannual reports submitted to the Financial Supervisory Service show that the average first-half salary at the country’s 10 largest brokerages reached 103.5 million [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korea is moving to tighten regulations on electric scooters as accidents involving personal mobility devices surge nationwide, raising concerns over public safety while prompting debate about the future of these increasingly common, eco-friendly vehicles. According to data released on Sunday by the Korea Road Traffic Authority, accidents involving personal [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korea has created an interministerial task force to spearhead the development of an advanced aircraft engine for its next-generation fighter jets, an effort aimed at joining the small group of nations capable of producing such high-end defense technology, government officials said on Friday. The new body brings together [...]
SEOUL, Nov. 28 (Korea Bizwire) — A South Korean parliamentary committee on Friday, November 28, approved a landmark bill aimed at curbing the rampant black market for concert and sports tickets by empowering authorities to levy fines up to 50 times the ticket’s illegal resale price. The National Assembly’s Culture, Sports and Tourism Committee passed sweeping [...]
CHUNCHEON, Nov. 28 (Korea Bizwire) — Public pressure for mandatory closed-circuit cameras in kindergarten classrooms is mounting in South Korea following a suspected child-abuse case in Chuncheon, but education authorities signaled caution on imposing sweeping surveillance requirements. Shin Gyeong-ho, superintendent of the Gangwon Special Self-Governing Province Office of Education, said Wednesday that the installation of CCTV [...]