SEOUL, Jan. 8 (Korea Bizwire) – Beginning this year, South Korea is embarking on a comprehensive update to its automobile regulations, targeting both safety and environmental concerns. The Korea Automobile and Mobility Association (KAMA) unveiled these new guidelines on January 7, marking a significant shift in the nation’s approach to automotive regulation. In an effort [...]
PAJU, Jan. 7 (Korea Bizwire) – In the tranquil village of Daeseong-dong, the only civilian settlement within South Korea’s Demilitarized Zone (DMZ), a heartwarming scene unfolded on the morning of January 5, starkly contrasting with the simmering tensions nearby. As North Korea conducted coastal artillery fire close to the Northern Limit Line (NLL) in the [...]
SEOUL, Jan. 7 (Korea Bizwire) – The financial regulator said Sunday that it will launch an investigation into sales of derivative products that track Chinese stocks listed on the Hong Kong exchange, amid concerns that such products would put investors at risk of posting heavy losses. The inspection into 12 local banks and brokerages will [...]
SEOUL, Jan. 7 (Korea Bizwire) – The transport ministry on Sunday ordered South Korean airlines to conduct safety checks on Boeing 737 Max planes in a preemptive safety measure following an emergency landing of a B737 Max 9 plane in the United States. South Korean carriers do not have the same B737 Max 9 in [...]
SEOUL, Jan. 6 (Korea Bizwire) – In a nation grappling with low birth rates, a controversial debate is taking root among its younger generation. The crux of the argument: Should financial status be a barrier to starting a family? This discourse, which is gaining momentum on social media, pits the ideal of preventing the inheritance of [...]
SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
SEOUL, Jan. 5 (Korea Bizwire) -- The South Korean government has decided to substantially increase the number of foreign workers at industrial sites and in rural areas this year, in response to the population crisis and labor shortage. The government is also considering the introduction of long-term employment incentives to encourage skill development among foreign workers [...]
SEOUL, Jan. 5 (Korea Bizwire) – The Korean Meteorological Administration (KMA) announced on January 4 that it is expanding the provision of snow weight information in its weather forecasts. Since last month, the KMA has been running a pilot project in Gwangju and South Jeolla Province, estimating the weight of expected snowfall and providing this information [...]
SEOUL, Jan. 4 (Korea Bizwire) –The Supreme Court on Thursday finalized a guilty sentence for the operator of Bad Fathers, a website publicly blacklisting child support defaulters. The court upheld a lower court’s decision and finalized its suspended ruling of a fine of 1 million won ($763.65) for the 61-year-old website operator, Koo Bon-chang. [...]
GEOJE, Jan. 4 (Korea Bizwire) –Daewoo Shipbuilding & Marine Engineering, currently known as Hanwha Ocean, is embroiled in a security breach involving the leak of submarine blueprints to Taiwan, with the South Korean police conducting an investigation. According to police reports on January 4, the South Gyeongsang Provincial Police Agency has begun an investigation into [...]