SEOUL, Oct. 24 (Korea Bizwire) – Amidst a dwindling birth rate and diminishing military recruitment resources, the South Korean Army is faced with the grim prospect of being unable to fill as many as 300,000 positions by 2040. In response, the Army is taking proactive steps to explore the more effective integration of female soldiers. On [...]
RIYADH, Oct. 22 (Korea Bizwire) — South Korea and Saudi Arabia will sign 51 deals and memorandums of understanding (MOU) worth a total of US$15.6 billion on the occasion of South Korean President Yoon Suk Yeol’s state visit to the Arab country, his office said Sunday. Most of the agreements were signed Sunday during a [...]
SEOUL, Oct. 23 (Korea Bizwire) — The ruling People Power Party (PPP) on Monday approved Yohan Ihn, South Korea’s first special naturalized citizen, as the chairman of the party’s innovation committee tasked with regaining voters’ trust after its crushing defeat in a by-election in Seoul. The decision to appoint Ihn, also known by his American [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korean and foreign defense companies signed business contracts worth more than US$6 billion during the latest biennial arms exhibition held south of Seoul, its organizers said Monday. A total of $6.05 billion worth of deals were signed during the Seoul International Aerospace & Defense Exhibition (ADEX), sharply up [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea’s antitrust regulator said Monday it has decided to give conditional approval to U.S. chipmaker Broadcom Inc.’s purchase of software firm VMware Inc. on concerns the deal may hinder fair competition in the market. The announcement came after Broadcom announced its plan to purchase all of the shares [...]
TOKYO, Oct. 23 (Korea Bizwire) – On Thursday, the Tokyo Electric Power Company (TEPCO) reported its analysis of a sample of contaminated water scheduled for a third discharge from Tank A at its Fukushima plant for measurement and verification. The results revealed the presence of various radionuclides including carbon-14, cesium-137, cobalt-60, strontium-90, and iodine-129. Most notably, [...]
SEOUL, Oct. 22 (Korea Bizwire) – Major global defense companies gathered at an international biennial defense trade show in South Korea set to close Sunday to display advanced military hardware and reaffirm their commitment to the local market. The Seoul International Aerospace and Defense Exhibition (ADEX) at Seoul Air Base in Seongnam, just south of [...]
SEOUL, Oct. 22 (Korea Bizwire) – The number of employees in South Korea’s manufacturing sector in the last three months dropped at the fastest pace in 11 quarters amid a protracted economic slowdown, government data showed Sunday. A monthly average of 4.47 million people were hired by the manufacturing industry in the July-September period, down [...]
SEOUL, Oct. 21 (Korea Bizwire) –The truce village of Panmunjom is the last remaining Cold War frontier inside the heavily-guarded demilitarized zone (DMZ) separating the two Koreas, but to Kim Young-gyu, the longest-serving public affairs officer at the United States Forces Korea (USFK), it is a place full of personal memories. The 76-year-old Kim [...]
SEOUL, Oct. 20 (Korea Bizwire) — The South Korean economy is forecast to be on a recovery track next year but the pace will be “very gradual” as China’s significant economic slowdown and a recession in the United States would hinder the growth of its exports, a senior Fitch Ratings analyst said Friday. Jeremy Zook, [...]