SEOUL, July 25 (Korea Bizwire) — A special counsel team on Friday raided former first lady Kim Keon Hee’s home and the company she formerly headed as part of their investigation into corruption allegations surrounding her. Special counsel Min Joong-ki’s team carried out the search and seizure on Kim’s residence and Covana Contents’ office in [...]
SEOUL, July 25 (Korea Bizwire) — New Unification Minister Chung Dong-young on Friday emphasized the need to restore communication channels and resume dialogue with North Korea, calling them his top priorities as he took office. “Restoring communication channels and resuming dialogue (between the two Koreas) are tasks I must pursue as soon as possible,” Chung [...]
TAIPEI, July 25 (Korea Bizwire) — European turboprop aircraft maker ATR on Friday signed a major contract with Taiwan-based Uni Air for 19 new ATR 72-600 aircraft while signaling ambitions to expand into the South Korean market. A signing ceremony was held in Taipei to formalize Uni Air’s plans to modernize and expand its domestic [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s latest round of stimulus coupons, intended to boost domestic consumption, is drawing scrutiny as some recipients are reportedly using them to purchase large quantities of tobacco products—prompting renewed calls to restrict eligible items. According to reports gathered by Yonhap News Agency on Friday, a significant number of [...]
SEOUL, July 25 (Korea Bizwire) — A research team at Seoul National University has revealed that a single street tree can absorb an estimated 27.1 kilograms of carbon dioxide annually, highlighting the significant role urban greenery plays in combating climate change. Using LiDAR (Light Detection and Ranging) technology and high-resolution cameras mounted on vehicles, the [...]
SEOUL, July 25 (Korea Bizwire) — A vast majority of publicly listed South Korean companies are expressing deep concerns over potential adverse effects of a second wave of corporate law reforms, warning that new regulations could further undermine corporate growth and governance stability. According to a survey released Thursday by the Korea Chamber of Commerce [...]
SEOUL, July 25 (Korea Bizwire) — The brutal murder of a man by his father using a homemade firearm in Incheon’s Songdo district has reignited alarm in South Korea over the growing availability of online content teaching how to make illegal weapons. The incident has amplified calls for tighter regulation of do-it-yourself (DIY) gun and [...]
SEOUL, July 24 (Korea Bizwire) – South Korean prosecutors have requested a 150 million won ($115,000) fine for Trevor Hill, former CEO of Audi Volkswagen Korea (AVK), in connection with the automaker’s diesel emissions manipulation scandal. During Hill’s first court hearing on Thursday at the Seoul Central District Court, prosecutors charged him with violating South [...]
SEOUL, July 24 (Korea Bizwire) — President Lee Jae Myung met with Samsung Electronics Co. Chairman Lee Jae-yong on Thursday, the presidential office said, expected to discuss a range of trade and investment issues amid trade negotiations between Seoul and Washington. “President Lee continued his meeting with business leaders this week, following last week’s engagement,” [...]
SEOUL, July 24 (Korea Bizwire) — Police investigating allegations of fraudulent stock deals by Bang Si-hyuk, chairman and founder of K-pop powerhouse Hybe, raided the company’s headquarters in Seoul on Thursday. The Seoul Metropolitan Police Agency said it sent investigators to Hybe’s head office in the Yongsan district in the morning to seize materials related [...]