SEOUL, Jun. 26 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday it will take longer for the people to feel a recent economic recovery due mainly to still-high interest rates and inflation, vowing policy priority on supporting small businesses and other vulnerable classes. Choi made the remarks during an economy-related ministers’ meeting in Seoul, [...]
SEOUL, Jun. 26 (Korea Bizwire) — The yearly number of drug offenders surpassed the 20,000 mark for the first time last year, driven by increases among young people and women, a report showed Wednesday. A record high of 27,611 people were apprehended for drug-related offenses last year, marking nearly a 50 percent increase from the [...]
SEOUL, Jun. 26 (Korea Bizwire) — North Korea has launched more than 250 trash-carrying balloons toward South Korea overnight, Seoul’s military said Wednesday, marking the sixth launch of such balloons since late last month. Some 100 balloons, mostly carrying scrap paper, landed in Seoul and the northern part of Gyeonggi Province that surrounds the capital, [...]
SEOUL, Jun. 26 (Korea Bizwire) — The finance ministry said Wednesday it will provide low-interest loans of 17 trillion won (US$12.22 billion) next month for corporate investment in the semiconductor industry and will push to extend tax benefits for investment in strategic technologies. It is part of execution plans for the comprehensive support package worth [...]
SEOUL, Jun. 26 (Korea Bizwire) — The government on Wednesday set aside 6.8 trillion won (US$4.9 billion) for official development assistance (ODA) in 2025, an 8.5 percent increase from this year. The decision was made during a meeting of the government committee on official development assistance presided over by Prime Minister Han Duck-soo. ODA is [...]
WASHINGTON, Jun. 25 (Korea Bizwire) — Senior South Korean and U.S. officials on Tuesday underscored the strength of their countries’ steadfast alliance amid shared concerns over a deepening military alignment between North Korea and Russia, as they marked the 74th anniversary of the outbreak of the Korean War. South Korean Ambassador to the U.S. Cho [...]
SEOUL, Jun. 25 (Korea Bizwire) – A devastating fire at a primary battery manufacturing plant in Hwaseong, South Korea, has once again brought the safety risks of lithium batteries into sharp focus. The blaze, which broke out at 10:31 a.m. on June 24 at the Aricell factory in Hwaseong’s Seosin-myeon district, has claimed the lives [...]
SEOUL, Jun. 25 (Korea Bizwire) –On the 74th anniversary of the Korean War, Hong Joon-pyo, the mayor of Daegu and a former conservative presidential candidate, renewed his call for South Korea to develop its own nuclear arsenal to counter North Korea’s nuclear threat. In a Facebook post on June 25, Hong invoked the example of [...]
SEOUL, June 25 (Korea Bizwire) – The number of households that moved from urban areas to farming and fishing villages fell for the second consecutive year in 2023, data showed Tuesday. The number of households moving to farming villages came to 317,464 last year, down 4.4 percent from a year earlier, according to the data [...]
SEOUL, June 25 (Korea Bizwire) – The Supreme Court on Tuesday ordered the retrial of a former employee of a Samsung Electronics subcontractor who was acquitted by a lower court despite having been indicted for stealing the manufacturing method of the waterproof adhesive used in Samsung mobile phones. The top court overturned the acquittal of [...]