SEOUL, Aug. 27 (Korea Bizwire) — The price cap for meals for public servants and select other professions was raised to 50,000 won (US$38) from 30,000 won under a revised enforcement ordinance Tuesday. The revised enforcement ordinance to the Improper Solicitation and Graft Act, commonly known as the Kim Young-ran law, was approved by the [...]
SEJONG, Aug. 27 (Korea Bizwire) — Industry Minister Ahn Duk-geun has confirmed that the government will increase electricity prices after summer comes to a close, in an effort to ease financial burdens on Korea Electric Power Corp (KEPCO). “We plan to raise electricity bills,” Ahn said during a meeting with reporters in the central city [...]
SEOUL, Aug. 27 (Korea Bizwire) – South Korea has increased funding for North Korean defectors to support their early settlement as part of its budget proposal for next year, in line with its new unification blueprint. The unification ministry’s budget proposal, which was approved by the Cabinet on Tuesday, came to 1.55 trillion won (US$1.17 [...]
SEOUL, Aug. 27 (Korea Bizwire) — The government’s proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles have also grown in the face of weak domestic demand and longer-term growth momentum, experts said Tuesday. The finance ministry [...]
SEOUL, Aug. 27 (Korea Bizwire) – A groundbreaking study has revealed that astrocytes, star-shaped non-neuronal cells in the brain, can potentially restore memory and cognitive abilities in Alzheimer’s patients by removing toxic proteins through a process called autophagy. On August 25, the Korea Institute of Science and Technology (KIST) announced that a research team led by [...]
SEOUL, Aug. 26 (Korea Bizwire) – A South Korean court has ruled that a hospital must pay approximately 400 million won in compensation to the family of an American patient who died suddenly from a pulmonary embolism after being discharged following hip fracture surgery. The Seoul Central District Court’s Civil Settlement Division 15 (presided over by [...]
SEOUL, Aug. 26 (Korea Bizwire) – About 180 South Korean nationals have entered Israel to attend a religious event, sources said Monday, amid escalating tensions in the region following a series of missile and air strikes exchanged between Israel and the Lebanese militant group Hezbollah. South Korea’s diplomatic mission in Israel has learned of their [...]
SEOUL, Aug. 26 (Korea Bizwire) – A disturbing trend of “deepfake” pornography, created by digitally manipulating photos of acquaintances and social media users, has ignited widespread alarm across South Korea, prompting police investigations and raising serious questions about online privacy and digital ethics. Reports of victims have emerged from over 300 schools nationwide, according to a [...]
SEOUL, Aug. 26 (Korea Bizwire) – In a powerful display of military cooperation, South Korea and the United States have begun their large-scale amphibious landing exercise, known as Ssangyong (Double Dragon), along the southeastern coast of Pohang and the eastern seaboard. The exercise, designed to enhance combat readiness and interoperability between the two allies, runs [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea and the United States commenced a joint live-fire aerial exercise on Monday, a move aimed at bolstering defenses against the growing threat posed by North Korea. The South Korean Air Force announced that the three-day exercise began earlier in the day over the waters off South Korea’s [...]