SEOUL, Nov. 19 (Korea Bizwire) – The government restored the administrative network that suffered a system failure, officials said Sunday, two days after the breakdown caused disruptions to public access to government-approved papers. The Saeol administrative network, a system used by public workers to access government-approved documents, was working smoothly in the afternoon, the interior [...]
SEOUL, Nov. 17 (Korea Bizwire) – Prosecutors demanded a five-year prison sentence for Samsung Electronics Co. Chairman Lee Jae-yong on Friday on charges of stock price rigging and accounting fraud connected to the controversial 2015 merger of two Samsung affiliates. Prosecutors also requested a fine of 500 million won (US$386,817) for Lee during the final [...]
MUJU, South Korea, Nov. 17 (Korea Bizwire) — A 15-year-old boy said he wishes he could turn the clock back to before he began gambling, as he has been staying in the remote rural village of Muju for a treatment program after losing more than 100 million won (US$76,934) to gambling. The middle schooler, who [...]
WASHINGTON, Nov. 16 (Korea Bizwire) — A U.S. defense official said Thursday that this week’s annual defense ministerial talks between South Korea and the United States centered on “tailored” deterrence efforts to address regional threats. Mara Karlin, who performs the duties of deputy undersecretary of defense for policy, commented on the Security Consultative Meeting (SCM) [...]
SEOUL, Nov. 17 (Korea Bizwire) — The remains of 25 Chinese troops killed in the 1950-53 Korean War will be sent to their home country next week, the defense ministry said Friday, marking the tenth repatriation of its kind. A ceremony for the handover of the remains will take place at Incheon International Airport, just [...]
SAN FRANCISCO, Nov. 16 (Korea Bizwire) — South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida voiced hope for closer cooperation between their countries as they met on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit on Thursday. The two leaders met at a hotel in San Francisco, marking their seventh [...]
SEOUL, Nov. 17 (Korea Bizwire) – The finance ministry said Friday that the government will look into cases of companies reducing the quantity of their products while freezing prices without consumers’ knowledge due to mounting public complaints against such practices amid high inflation. First Vice Finance Minister Kim Byoung-hwan announced the plan during a weekly [...]
SEOUL, Nov. 17 (Korea Bizwire) — The International Monetary Fund (IMF) recommended South Korea maintain a restrictive monetary policy to bring inflation under control, though the country is expected to reach its inflation target of 2 percent by the end of next year. The organization made the call in its report on the South Korean [...]
SEOUL, Nov. 17 (Korea Bizwire) – The Ministry of Patriots and Veterans Affairs, in collaboration with Ediya Coffee, has initiated a fundraising campaign to provide support to the families of Ethiopian veterans who played a crucial role during the Korean War in 1950. This conflict marked a significant historical moment as Ethiopia was the sole African [...]
SEOUL, Nov. 17 (Korea Bizwire) – Paper straw manufacturers are facing significant challenges following the government’s decision to extend the “notice period” preceding the plastic straw ban. Expressing their trust in the government, these companies find themselves in a crisis and are urgently seeking emergency funding. The Paper Straw Survival Plan Council, comprising 11 paper straw [...]