SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s Democratic Party on Friday unveiled plans to impose far heavier financial penalties on media outlets for publishing false or manipulated reports, vowing to pass the legislation before the Chuseok holiday on Oct. 6. At a press briefing, the party’s special committee on media reform said it would [...]
SEOUL, Sept. 5 (Korea Bizwire) — A special counsel team said Friday it has summoned former Prime Minister Han Duck-soo to appear for questioning next week over allegations that a construction company chairman gifted a luxury necklace to former first lady Kim Keon Hee in exchange for his son-in-law’s appointment as Han’s chief of staff. [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea on Friday voiced “concern and regret” after more than 300 South Koreans were taken into custody in a major U.S. immigration raid at an electric vehicle (EV) battery plant site in Georgia, urging that individuals’ rights must not be unfairly infringed. The foreign ministry issued the statement [...]
WASHINGTON, Sept. 5 (Korea Bizwire) — Government and industry experts from South Korea, the United States and Japan met in Seoul and Tokyo this week to discuss quantum industrial security, the State Department said Friday, as the countries are deepening cooperation in securing critical technologies. They held a trilateral workshop on the topic in Seoul [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea on Friday outlined a plan to help the biohealth industry double its exports by 2030 and join the world’s top five. Under the “K-Bio Leap Strategy” unveiled at a seminar in Songdo, west of Seoul, the government outlined new targets for the industry, which also include the [...]
SEOUL, Sept. 5 (Korea Bizwire) — A large-scale immigration raid at a Hyundai Motor Group–LG Energy Solution battery plant construction site in Georgia has sent shockwaves through Korean companies operating in the United States, raising fears of heightened regulatory risks under the Trump administration. According to foreign media and industry officials, U.S. Immigration and Customs [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s new culture minister offered a stark warning on Thursday, saying that behind the glittering image of K-pop, K-drama and other cultural exports lies a fragile industry infrastructure at risk of collapse. At his first press conference since taking office, Choi Hwi-young, minister of culture, sports and tourism, said he [...]
SEOUL, Sept. 5 (Korea Bizwire) – South Korea’s efforts to rescue its collapsing essential medical system by sharply raising reimbursements for high-risk surgeries have failed to halt the sector’s decline, new government data show. Even with more generous payments, essential care still accounts for less than 20 percent of total medical spending, while pediatric and obstetric [...]
SEOUL, Sept. 5 (Korea Bizwire) — Illegal private lending and debt collection crimes in South Korea have more than doubled in the past three years, with authorities warning that exploitative lenders are increasingly preying on financially vulnerable groups such as young job seekers. According to data released Thursday by Rep. Han Byung-do, violations of lending [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s Defense Ministry said Thursday it will dramatically expand drone training for conscripts, aiming to produce what it calls “500,000 drone warriors” as militaries worldwide adapt to the growing role of unmanned systems on the battlefield. Defense Minister Ahn Kyu-baek announced the initiative at a ceremony designating the [...]