SEOUL, Aug. 20 (Korea Bizwire) — President Lee Jae Myung has met with a group of creatives behind the smash-hit Netflix animated film “KPop Demon Hunters” and pledged to cultivate South Korea’s cultural sector into one of the country’s core industries. Appearing on Arirang TV’s prerecorded program “K-Pop: The Next Chapter” aired Wednesday, Lee sat [...]
SEOUL, Aug. 20 (Korea Bizwire) — South Korea’s semiconductor industry was rattled Wednesday by reports that Washington is considering acquiring equity stakes in foreign chipmakers building plants in the United States, including Samsung Electronics and Taiwan’s TSMC. The idea surfaced as the U.S. government explores converting subsidies provided under the CHIPS and Science Act into [...]
SEOUL, Aug. 20 (Korea Bizwire) – National Assembly Speaker Woo Won-shik was officially invited by China to attend Beijing’s military parade marking the end of World War II next month, his office said Wednesday. “Woo received an official invitation from the Chinese government to attend the Victory Day event on Sept. 3,” the office said [...]
SEOUL, Aug. 20 (Korea Bizwire) — Senior defense officials of South Korea and Singapore met in Seoul on Wednesday and agreed to expand their cooperation on the occasion of the 50th anniversary of the countries’ bilateral ties, Seoul’s defense ministry said. In the talks, Vice Defense Minister Lee Doo-hee and his Singaporean counterpart, Chan Heng [...]
SEOUL, Aug. 20 (Korea Bizwire) — The government on Wednesday announced a set of measures aimed at stabilizing supply chains in the nation’s strategic industries, with support extending to “every stage” of the industrial process, the finance ministry said. The Ministry of Economy and Finance said the measures will focus on sectors particularly vulnerable to [...]
SEOUL, Aug. 20 (Korea Bizwire) — The presidential office on Wednesday expressed regret over the latest criticism of President Lee Jae Myung’s recent peace overtures by the sister of North Korean leader Kim Jong-un, saying that her remarks “distort” Seoul’s sincere efforts to restore inter-Korean trust. Earlier in the day, the North’s state media reported [...]
SEOUL, Aug. 20 (Korea Bizwire) — The government and the ruling Democratic Party (DP) agreed Wednesday to ramp up their policy efforts to infuse private firms, the public sector as well as all sectors of society with artificial intelligence (AI) technology. Under the so-called AI Transformation initiative, the government and the DP plan to promote [...]
SEJONG, Aug. 20 (Korea Bizwire) — South Korea’s greenhouse gas emissions dropped below 700 million tons last year for the first time in nearly 15 years, driven by a shift from coal to nuclear and renewable energy. The Ministry of Environment’s Greenhouse Gas Inventory and Research Center reported Wednesday that national emissions reached 691.6 million [...]
SEOUL, Aug. 20 (Korea Bizwire) — South Korea’s embattled petrochemical industry has agreed to slash its core production capacity by as much as a quarter, in a government-backed effort to stave off collapse and reposition for higher-value growth. The Ministry of Trade, Industry and Energy said Wednesday that 10 companies operating naphtha cracking centers (NCCs) [...]
SEOUL, Aug. 20 (Korea Bizwire) — The South Korean government is considering a major overhaul of how it grants pension credits for childbirth and military service, moving from a system of post-retirement adjustments to upfront support — a change that could save nearly 88 trillion won ($65 billion) in state finances over the long term, [...]