SEOUL, Jun. 18 (Korea Bizwire) – As North Korea and Russia deepen ties across various areas, the two countries are now pursuing a joint project to safeguard the critically endangered Korean tiger, known as the Amur tiger, according to Russian officials. In comments reported by the state RIA Novosti news agency on June 17, Alexander Kozlov, [...]
SEOUL, Jun. 18 (Korea Bizwire) – The South Korean military has postponed planned live-fire artillery exercises, a move seen as an effort to manage escalating tensions on the Korean Peninsula, according to officials. On June 17, the South Korean marine corps was expected to conduct drills using K9 self-propelled howitzers around the islands of Baengnyeong and [...]
SEOUL, June 17 (Korea Bizwire) – The government will extend the tax cut on fuel for automobiles by an additional two months but lower the cap for the reduction in consideration of global oil prices, inflation and the dwindling tax revenue, the finance ministry said Monday. South Korea has applied a 25 percent discount on [...]
SEOUL, June 17 (Korea Bizwire) – Police will launch an investigation into more than 1,000 doctors suspected of receiving illegal kickbacks from a drugmaker, the Seoul police chief said Monday. Police have confirmed circumstances suggesting that the doctors received kickbacks in cash and other rewards, ranging from several million won to tens of millions of [...]
SEOUL, Jun. 17 (Korea Bizwire) — The government on Monday unveiled a series of measures aimed at boosting the nation’s tourism sector amid signs of a robust recovery in the post-pandemic era. The measures, announced during a meeting of economic affairs ministers, including the Ministry of Culture, Sports and Tourism, focus on streamlining entry procedures [...]
SEOUL, Jun. 17 (Korea Bizwire) — South Korea will begin issuing the K-culture training visa for foreigners on a trial basis this year and consider introducing a new workation visa, with the goal of attracting more tourists from overseas, the finance ministry said Monday. It is part of the comprehensive measures presented by the ministry, [...]
SEOUL, Jun. 17 (Korea Bizwire) — Medical professors at hospitals affiliated with Seoul National University (SNU) began an indefinite walkout on Monday, according to a group of patients, with about 55 percent of the professors expected to join the move against the government’s medical reform. A total of 529 professors at the four hospitals — [...]
SEOUL, Jun. 17 (Korea Bizwire) – A recent analysis by the General Insurance Association of Korea has revealed that one out of every three disputed car-to-car accidents over the past three years involved lane changes, underscoring a significant source of contention as the summer vacation season approaches. The association examined approximately 130,000 cases reviewed by its [...]
SEOUL, Jun. 16 (Korea Bizwire) – A memorial altar set up for victims of the 2022 Itaewon crowd crush was moved to a new site Sunday from its original location outside Seoul City Hall. The altar, which commemorates the 159 people killed in a crowd crush in Seoul’s Itaewon neighborhood during Halloween weekend in 2022, [...]
SEJONG, Jun. 16 (Korea Bizwire) – The finance ministry announced plans to sell $1.3 billion in foreign exchange stabilization bonds, aiming to attract high-quality SSA (Sovereigns, Supranationals & Agencies) investors. The targeted investor pool includes governments, central banks, international organizations, and policy finance institutions. Foreign exchange stabilization bonds are designed to allow governments to intervene [...]