SEOUL, May 7 (Korea Bizwire) — South Korea has been deliberating on Indonesia’s proposal to reduce its payment for a joint development project for the KF-21 fighter jet, the state procurement agency said Tuesday, amid an ongoing probe into an alleged technology leak by Indonesian engineers. Indonesia has reportedly suggested paying only 600 billion won [...]
SEOUL, May 7 (Korea Bizwire) — The Cabinet on Tuesday approved a revision to the rule on the designation of large business groups and their chiefs for a watch list subject to stricter filing and other antitrust regulations, the regulator said. Under current law, conglomerates with total assets exceeding 5 trillion won (US$3.68 billion) are [...]
SEOUL, May 7 (Korea Bizwire) — North Korea’s external economic relations minister has expressed intent for his country’s cooperation with Iranian automaker Saipa during a recent rare trip to Tehran. Yun Jong-ho made the remark as he visited a booth run by Iran’s second-largest automaker at a trade show in Tehran during his 10-day stay [...]
SEOUL, May 7 (Korea Bizwire) — Health Minister Cho Kyoo-hong said Tuesday that the government will extend its financial support for emergency care services by another month, as massive walkouts by junior doctors have disrupted health services at major hospitals for nearly three months. The government has injected 190 billion won (US$140 million) per month [...]
SEOUL, May 7 (Korea Bizwire) – Korea Post, which operates under the Ministry of Science and ICT, will collaborate with Samsung Heavy Industries’ Geoje shipyard until the end of the year to help foreign workers in the shipbuilding industry adjust to life in South Korea, the agency announced on May 6. The postal service will provide [...]
SEOUL, May 7 (Korea Bizwire) – Indonesia, which had agreed to share a portion of the development costs and receive technology transfers for South Korea’s KF-21 fighter jet, has recently proposed paying only about a third of its originally committed share while also accepting a reduced level of technology transfer, according to sources familiar with the [...]
SEOUL, May 6 (Korea Bizwire) – A smoker fined for lighting up in a designated non-smoking area has failed in a constitutional challenge after the country’s highest courts upheld the citation, ruling that public health interests outweigh individual freedom to smoke outdoors. On April 25, the Constitutional Court unanimously dismissed a petition filed by a [...]
SEOUL/JEJU, May 6 (Korea Bizwire) -- At 11 a.m. on May 2, some 20 hikers were having an early lunch on the wooden deck of the Witsae oreum shelter, perched 1,700 meters up the slopes of Hallasan, South Korea’s highest mountain. Most had brought insulated bottles, filling them with hot water to prepare ubiquitous packets [...]
SEOUL, May 6 (Korea Bizwire) – A special loan program in South Korea offering rock-bottom interest rates for newlywed couples and new parents has drawn more than 5 trillion won in applications just three months since its launch, data showed on May 5. The “New Baby” loan program, introduced on January 29 by the Ministry [...]
SEOUL, May 6 (Korea Bizwire) – One in three South Korean workers rated the labor and employment policies of President Yoon Suk-yeol’s administration 20 points or below out of 100, according to a survey released on May 5 by a civic group. The group, Gabjil 119, said its poll of 1,000 workers found Yoon’s labor [...]