SEOUL, Sept. 3 (Korea Bizwire) — In a move that has been hailed as historic by some and met with apprehension by others, South Korea’s National Assembly passed a new nursing law on August 28, ending a 19-year wait for legislation specifically governing the nursing profession. The law, which is set to take effect within nine [...]
SEOUL, Sept. 3 (Korea Bizwire) — North Korea is estimated to have earned more than US$6 billion through hacking and other illicit activities over the past seven years despite facing heavy international sanctions, a state-run think tank report showed Tuesday. North Korea’s income through illegal activities from 2017 to 2023, such as smuggling out coal, [...]
SEOUL, Sept. 3 (Korea Bizwire) — South Korea and the United States kicked off a joint underwater excavation project Tuesday in waters off the southeastern port city of Busan to search for the remains of American soldiers killed during the 1950-53 Korean War, the defense ministry said. Some 22 personnel from the ministry’s Agency for [...]
SEOUL, Sept. 3 (Korea Bizwire) — In South Korea, a rush for loans at internet banks is intensifying as the country’s five largest banks continue to impose lending restrictions. Customers are flocking to online lenders, which are perceived as more accessible, in a phenomenon known as “open runs” – where borrowers attempt to secure loans as [...]
SEOUL, Sept. 3 (Korea Bizwire) — A total of 403 individuals have been apprehended since 2021 for illegally creating deepfake pornography videos, a police report showed Tuesday, as South Korea scrambles to combat online deepfake pornography targeting young women. According to the National Police Agency report submitted to Democratic Party Rep. Hwang Jung-a, 7,530 individuals [...]
SEOUL, Sept. 3 (Korea Bizwire) — South Korea’s consumer prices slowed to the lowest level in nearly 3 1/2 years in August on easing prices of farm produce and global oil, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 2 percent on-year last month, compared with a 2.6 percent on-year rise a [...]
SEOUL, Sept. 3 (Korea Bizwire) — The government on Tuesday designated Armed Forces Day on Oct. 1 as a temporary holiday this year to boost troop morale and domestic consumption. A motion to designate the holiday was passed during a Cabinet meeting and will be sent to President Yoon Suk Yeol for approval. The designation, [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s economy is showing signs of a downturn, with domestic demand struggling to gain momentum. Analysts attribute this trend to the reduction in household discretionary income, a consequence of high interest rates and inflation. According to data from the Korean Statistical Information Service (KOSIS) released on September 2, the [...]
SEOUL, Sept. 3 (Korea Bizwire) — In a stark contradiction to government assurances, a coalition of medical school professors in South Korea has painted a grim picture of the nation’s healthcare system, claiming that many emergency rooms are already unable to provide normal care. The group asserts that punishing those responsible for the healthcare breakdown and [...]
SEOUL, Sept. 3 (Korea Bizwire) — In a striking trend reflecting growing legal awareness among South Koreans, requests for access to legal documents, particularly criminal complaints, have skyrocketed, surpassing 200,000 annually. This surge underscores a shift towards proactive self-advocacy and strategic preparation in legal disputes. According to the “2024 Information Disclosure Annual Report” released by the [...]