SEOUL, August 1 (Korea Bizwire) — South Korea’s multicultural households are seeing marked improvements in education and living standards, with over 61% of multicultural youth entering higher education institutions in 2023 — a significant rise from 40.5% in 2021. The gap between multicultural and general youth college enrollment rates has narrowed from 31 percentage points [...]
SEOUL, July 31 (Korea Bizwire) — In a notable win for South Korea’s agricultural sector, the government has successfully resisted U.S. demands to further open its domestic rice and beef markets during recent bilateral trade negotiations. The move has been welcomed by farmers and industry groups, who had feared the talks would lead to fresh [...]
SEJONG, July 31 1 (Korea Bizwire) — South Korea and the United States reached a dramatic tariff agreement on July 31, narrowly avoiding the imposition of a 25% mutual tariff that had loomed over bilateral trade. Under the deal, South Korea will invest $350 billion in the U.S., including a $150 billion shipbuilding fund, in [...]
SEOUL, July 31 (Korea Bizwire) — South Korea has begun allowing its nationals to contact North Koreans without restrictions, provided such contacts are declared in advance, Unification Minister Chung Dong-young said Thursday. Chung said he signed off on the disposal of ministry guidelines governing declarations of contacts with North Koreans the previous day, speaking to [...]
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung on Thursday called for establishing a next-generation power grid as he underscored the importance of shifting the country’s power supply infrastructure to one that centers on renewable energy. “Energy transition has become an essential task,” Lee said as he presided over a meeting of senior [...]
SEOUL, July 31 (Korea Bizwire) — Two crew members suffered injuries as a Navy warship caught fire while entering a naval port in the southeastern city of Jinhae on Thursday, the Navy said. The fire occurred at an auxiliary engine system on the ROKS Hyang Ro Bong as the landing ship was entering the port [...]
SEOUL, July 31 (Korea Bizwire) — With the tariff deal concluded, South Korea may face the task of resetting key alliance issues with the United States, as the Donald Trump administration is pressing its allies to take on a greater share of defense and security responsibilities. The tariff agreement reached Thursday commits South Korea to [...]
SEOUL, July 31 (Korea Bizwire) — President Lee Jae Myung urged the government Thursday to closely monitor public concerns over the trade deal with the United States and prepare follow-up measures to protect the nation’s core interests. Lee made the call after Seoul clinched a trade deal with Washington to lower the reciprocal and auto-specific [...]
SEOUL, July 31 (Korea Bizwire) — The government on Thursday unveiled a comprehensive tax reform plan aimed at strengthening the national revenue base, which includes raising the top corporate tax rate and tightening capital gains taxation by broadening the definition of large shareholders. The reform marks the first major tax overhaul under President Lee Jae [...]
SEOUL, July 31 (Korea Bizwire) — A total of 16 people have died from heat-related illnesses in South Korea so far this year as the country continues to endure severe heat waves, health authorities said Thursday. A total of 2,900 patients had visited emergency rooms for heat-related conditions as of Wednesday since mid-May, when authorities [...]