SEOUL, Aug. 19 (Korea Bizwire) – A special counsel team indicted former Interior Minister Lee Sang-min on Tuesday on charges of abuse of authority and his role in the short-lived imposition of martial law in early December last year. The team led by special counsel Cho Eun-suk said Lee is accused of playing an active [...]
SEOUL, Aug. 19 (Korea Bizwire) — The Navy on Tuesday conducted military drills at Incheon Port in a bid to enhance capabilities for harbor defense from possible cyberattacks and maritime infiltrations, officials said. The drills took place at the cruise terminal of Incheon Port, some 30 kilometers west of Seoul, as part of the annual [...]
SEOUL, Aug. 19 (Korea Bizwire) — The chief of the state-run Korea Hydro & Nuclear Power Co. (KHNP) confirmed Tuesday the company has closed operations in Poland amid speculations that its agreement with U.S. energy firm Westinghouse over an intellectual property (IP) dispute influenced the decision. “After the new Polish administration took office … the [...]
SEOUL, Aug. 19 (Korea Bizwire) — South Korea’s biggest conglomerates could see their founding families lose significant sway over board oversight if a second round of corporate law revisions clears the National Assembly, according to a new analysis. Leaders Index, a corporate research firm, said Tuesday that under the proposed reforms, roughly 38 percent of [...]
SEOUL, Aug. 19 (Korea Bizwire) – Prime Minister Kim Min-seok said Tuesday that South Korea will continue to send “complex” messages to North Korea aimed at fostering peace while safeguarding security, although Pyongyang has shown little interest in engaging in dialogue with Seoul. Kim made the remarks during his first press conference since taking office [...]
SEOUL, Aug. 19 (Korea Bizwire) — Prime Minister Kim Min-seok said Tuesday that he will meet with Bill Gates during the chair of the Gates Foundation’s visit to South Korea later this week. Kim announced the plan at a press conference when asked about the possibility of such a meeting, but gave no further details. [...]
SEOUL, Aug. 19 (Korea Bizwire) — A $26 billion nuclear power contract won by South Korean firms in the Czech Republic is drawing scrutiny after revelations that Korea Hydro & Nuclear Power (KHNP) and Korea Electric Power Corp. (KEPCO) signed a sweeping agreement with Westinghouse Electric that could bind Seoul’s industry to decades of costly obligations. [...]
SEOUL, Aug. 19 (Korea Bizwire) — An air-raid siren will be sounded on Wednesday, restricting people’s outdoor movement as part of a nationwide civil defense drill this week, officials said Tuesday. The 20-minute drill, slated for 2 p.m. Wednesday, will include civil evacuation training and traffic restrictions in an air raid attack scenario, according to [...]
SEOUL, Aug. 19 (Korea Bizwire) – A government policy aimed at reducing smoking through tobacco tax increases appears to have only short-term impact, with a recent study revealing that the sales drop triggered by higher prices typically vanishes within four months. According to a new report released Monday by the Korea Institute for Health and [...]
SEOUL, Aug. 18 (Korea Bizwire) — President Lee Jae Myung on Monday met with visiting U.S. senators to exchange opinions about bilateral alliances and economic cooperation, his office said, ahead of his planned meeting with U.S. President Donald Trump. Lee held talks with Tammy Duckworth (D-IL) and Andy Kim (D-NJ) at his office before his [...]