SEOUL, May 8 (Korea Bizwire) — The education ministry warned Pusan National University (PNU) of punitive action, including the suspension of student admissions, on Wednesday a day after the school decided to halt its planned hike in medical school admissions. The university in the port city of Busan, 320 kilometers southeast of Seoul, was one [...]
SEOUL, May 8 (Korea Bizwire) — South Korea’s state procurement agency on Wednesday hinted at accepting Indonesia’s proposal to reduce its cost sharing for the KF-21 fighter jet program under the condition of providing fewer technology transfers, a move that would increase the financial burden on Seoul. The Defense Acquisition Program Administration (DAPA) said Indonesia [...]
DAEJEON, May 8 (Korea Bizwire) — A district office in the central city of Daejeon had mistakenly warned on Wednesday about 70 fierce dogs breaking loose from a farm in the area, and police later found that only two breeding canines had escaped. The Dong Ward office in Daejeon had initially sent an emergency text [...]
SEOUL, May 7 (Korea Bizwire) – A new report has projected that South Korea’s total population, which stood at just over 51 million last year, could plummet to around 39 million by 2065 due to persistently low birth rates in the country. The 2024 Population Report, published on May 6 by the Korean Peninsula Population Institute [...]
SEOUL, May 7 (Korea Bizwire) — South Korea has been deliberating on Indonesia’s proposal to reduce its payment for a joint development project for the KF-21 fighter jet, the state procurement agency said Tuesday, amid an ongoing probe into an alleged technology leak by Indonesian engineers. Indonesia has reportedly suggested paying only 600 billion won [...]
SEOUL, May 7 (Korea Bizwire) — The Cabinet on Tuesday approved a revision to the rule on the designation of large business groups and their chiefs for a watch list subject to stricter filing and other antitrust regulations, the regulator said. Under current law, conglomerates with total assets exceeding 5 trillion won (US$3.68 billion) are [...]
SEOUL, May 7 (Korea Bizwire) — North Korea’s external economic relations minister has expressed intent for his country’s cooperation with Iranian automaker Saipa during a recent rare trip to Tehran. Yun Jong-ho made the remark as he visited a booth run by Iran’s second-largest automaker at a trade show in Tehran during his 10-day stay [...]
SEOUL, May 7 (Korea Bizwire) — Health Minister Cho Kyoo-hong said Tuesday that the government will extend its financial support for emergency care services by another month, as massive walkouts by junior doctors have disrupted health services at major hospitals for nearly three months. The government has injected 190 billion won (US$140 million) per month [...]
SEOUL, May 7 (Korea Bizwire) – Korea Post, which operates under the Ministry of Science and ICT, will collaborate with Samsung Heavy Industries’ Geoje shipyard until the end of the year to help foreign workers in the shipbuilding industry adjust to life in South Korea, the agency announced on May 6. The postal service will provide [...]
SEOUL, May 7 (Korea Bizwire) – Indonesia, which had agreed to share a portion of the development costs and receive technology transfers for South Korea’s KF-21 fighter jet, has recently proposed paying only about a third of its originally committed share while also accepting a reduced level of technology transfer, according to sources familiar with the [...]