SEOUL, Jan. 22 (Korea Bizwire) — South Korea said Wednesday it will sharply increase investment in nuclear fusion research this year, nearly doubling its budget as the government accelerates efforts to move the technology from laboratory development toward real-world demonstration and eventual commercialization. The Ministry of Science and ICT announced that it has finalized its 2026 [...]
SEJONG, Jan. 21 (Korea Bizwire) — President Donald Trump’s comments suggesting that South Korean investment funds could be used for an ambitious Alaska natural gas development project have sparked unease in Seoul, raising concerns that political rhetoric in Washington could complicate ongoing bilateral investment negotiations. Speaking at the White House on Tuesday to mark the first [...]
SEOUL, Jan. 21 (Korea Bizwire) – The military has been advised to swiftly adopt a radio frequency identification (RFID) system in handling firearms in a bid to prevent gun-related accidents and deaths in the military, the defense ministry said Wednesday. A special advisory committee comprising civilian, government and military officials made the recommendation as the [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday that it had imposed a combined 272 billion won, or about $184 million, in fines on the country’s four largest commercial banks, accusing them of coordinating restrictions on mortgage lending in a way that undermined competition. The Fair Trade Commission said Shinhan Bank, Woori [...]
SEOUL, Jan. 21 (Korea Bizwire) – Banks and other financial institutions will be temporarily exempt from the foreign exchange stability levy until June as part of government efforts to boost the supply of U.S. dollars, the budget ministry said Wednesday. Under the six-month measure, financial institutions will not be required to pay the special levy, [...]
SEOUL, Jan. 21 (Korea Bizwire) – The Air Force’s aerobatic flight team will stage an air show in Saudi Arabia next month after making a stopover in Japan for refueling, officials said Wednesday. The Black Eagles team plans to participate in the World Defense Show 2026, an international defense exhibition in Saudi Arabia, scheduled for [...]
SEOUL, Jan. 21 (Korea Bizwire) — President Lee Jae-myung on Tuesday signaled a push for stronger government intervention in everyday cost-of-living issues, calling for the development of low-cost sanitary pads — potentially distributed free of charge — while pressing ministers to accelerate reforms across welfare, labor safety and public integrity. Speaking at a Cabinet meeting at [...]
SEOUL, Jan. 21 (Korea Bizwire) — A long-delayed redevelopment project in northern Seoul, once known as the city’s last remaining daldongne — or hillside shantytown — will proceed as planned after a court rejected a request to halt construction over concerns about stray animals. The Seoul Northern District Court recently dismissed an injunction filed by a [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s government said Tuesday it plans to expand its popular “Culture Day” program to every Wednesday, a move aimed at broadening public access to museums, heritage sites and entertainment venues. The Ministry of Culture, Sports and Tourism announced that it will seek to revise the enforcement decree of the [...]
SEOUL, Jan. 21 (Korea Bizwire) — Seoul city officials said Tuesday that hundreds of complaints filed by foreign visitors since the launch of a QR-based taxi reporting system have revealed widespread concerns over overcharging, prompting stepped-up enforcement against illegal fare practices. Since introducing the “Taxi QR Complaint System” in June last year — the first such [...]