SEOUL, Feb. 8 (Korea Bizwire) — South Korea’s total revenue, including tax gains, fell 77 trillion won (US$57.9 billion) on-year in 2023 due to economic challenges from home and abroad, government data showed Thursday. For fiscal 2023, the country’s total revenue amounted to 497 trillion won, falling from 573.9 trillion won tallied a year earlier, [...]
SEOUL, Feb. 8 (Korea Bizwire) — President Yoon Suk Yeol said Wednesday that first lady Kim Keon Hee failed to “cold-heartedly reject” a visitor armed with a hidden camera, speaking for the first time on allegations she accepted a luxury handbag from the man in 2022. Yoon said in an interview with KBS TV that [...]
SEOUL, Feb. 8 (Korea Bizwire) — South Korea’s finance ministry said Thursday it has agreed with Britain to launch a dialogue for investment cooperation as the two countries seek to expand bilateral ties. First Vice Finance Minister Kim Byoung-hwan signed the memorandum of understanding with his British counterpart, Lord Dominic Johnson, during their meeting in [...]
SEOUL, Feb. 8 (Korea Bizwire) — President Yoon Suk Yeol pledged on Thursday to implement various policy support measures aimed at assisting small business owners and vulnerable groups struggling with loan repayments due to the impact of the COVID-19 pandemic. Yoon made the remarks during a government-public debate, the 10th in a series of sessions [...]
CHANGWON, Feb. 8 (Korea Bizwire) – Flying drones in the skies of Jinhae District in the city of Changwon, renowned for its beautiful cherry blossoms, could result in fines up to 4 million won for violating aviation safety laws. Jinhae is a military zone, home to the Korean Navy and U.S. forces, as well as a [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korea’s broadcasting watchdog on Wednesday approved that an affiliate of the mid-sized conglomerate Eugene Group becomes the largest shareholder of the local news channel YTN. The Korea Communications Commission (KCC) said it decided to approve the application by Eugene ENT Co. to change the largest shareholder of the [...]
SEOUL, Feb. 7 (Korea Bizwire) – A major business lobby of doctors was set to hold meetings Wednesday to discuss its actions against the government’s planned hike in the enrollment quota for medical schools, officials said. The Korean Medical Association (KMA) will hold the meetings later in the day, a day after the government announced [...]
SEOUL, Feb. 7 (Korea Bizwire) – The government’s recent decision to expand medical school quotas by 2,000 spots, the first increase in 27 years, is anticipated to significantly impact the college admissions landscape, particularly among top-tier students. This expansion is expected to intensify the “medical school craze” among high-achieving students, leading to an increase in repeat [...]
SEOUL, Feb. 7 (Korea Bizwire) – As Chinese online shopping platforms AliExpress and Temu gain a larger foothold in the South Korean market, concerns are being raised about China’s alleged “hanbok appropriation” through these platforms. As of February 6, AliExpress boasted approximately 6 million monthly Korean users, while Temu had around 4 million Korean users. The [...]
SEOUL, Feb. 7 (Korea Bizwire) – In Seoul’s Seocho District, a large building has become the center of an unsettling issue, with adult diapers filled with feces being repeatedly discarded in the restrooms. A notice was posted in the building on February 6, bringing this matter to the attention of the occupants and requesting their cooperation. [...]