SEOUL, Aug. 11 (Korea Bizwire) — Seoul’s central bank said Monday it has signed a renewed memorandum of understanding (MOU) with its Vietnamese counterpart, the State Bank of Vietnam, to promote bilateral partnership. The updated MOU, initially signed in 2004, aims to deepen cooperation in various areas between the two central banks, including monetary policy [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s military force has significantly dwindled, with total personnel expected to fall to 450,000 by July 2025, down from 560,000 in 2019. This marks a reduction of 110,000 soldiers over six years, a decline of more than 20%. The reduction follows a broader trend that has seen the army’s [...]
SEOUL, Aug. 11 (Korea Bizwire) — In a recent ruling, South Korea’s Supreme Court determined that a teacher’s use of inappropriate language toward a disruptive student did not constitute emotional abuse under child welfare laws. The case centers on a 4th-grade teacher, identified as A, who was accused of verbally abusing a student, referred to [...]
SEOUL, Aug. 11 (Korea Bizwire) — A recent survey reveals that one in three South Korean workers has encountered discrepancies between job advertisements and actual working conditions, commonly referred to as “recruitment fraud.” Conducted by Global Research on behalf of the workplace rights group Workplace Abuse 119, the survey, held from June 1 to June 7, [...]
PYEONGTAEK, South Korea, Aug. 10 (Korea Bizwire) – The commander of the U.S. Forces Korea (USFK) said taking “shortcuts” for the transition of wartime operational control (OPCON) to Seoul from Washington could imperil the readiness posture on the Korean Peninsula. Gen. Xavier Brunson stressed the need to adhere to bilaterally agreed-upon conditions for the OPCON [...]
SEOUL, Aug. 10 (Korea Bizwire) — The Trump administration has reportedly pressed South Korea for explicit consent regarding the strategic flexibility of U.S. Forces Korea (USFK), a key issue that may emerge as a significant agenda item in upcoming U.S.-South Korea summits or security discussions. Strategic flexibility allows the U.S. military to expand its operational reach [...]
SEOUL, Aug. 8 (Korea Bizwire) — A court on Friday dismissed former Interior Minister Lee Sang-min’s petition against his arrest, keeping him in custody over his alleged involvement in former President Yoon Suk Yeol’s imposition of martial law. The Seoul Central District Court issued the ruling just hours after holding a hearing to review the [...]
SEOUL, Aug. 8 (Korea Bizwire) — Prime Minister Kim Min-seok said Friday the government should consider raising the national terror alert level as the Asia-Pacific Economic Cooperation (APEC) summit draws near, in order to ensure the event is hosted successfully. According to his office, Kim made the remarks while presiding over a counter-terrorism commission meeting, [...]
SEOUL, Aug. 8 (Korea Bizwire) — The South Korean government on Friday delayed its decision on Google’s request to export high-precision map data overseas, the transport ministry said, amid pressure from Washington to resolve the issue, calling it a non-tariff barrier. In February, the U.S. tech giant submitted an application to the state-run National Geographic [...]
SEOUL, Aug. 8 (Korea Bizwire) — North Korea increased the number of loudspeakers against South Korea installed along border areas between May and June, but none of them are currently in operation, the Joint Chiefs of Staff (JCS) said Friday. The move came as North Korea remains unresponsive to South Korea’s completion of dismantling its [...]