SEOUL, July 30 (Korea Bizwire) — The finance ministry said Wednesday it has briefed President Lee Jae Myung on plans to adopt a “performance-based” fiscal management approach aimed at enhancing investment efficiency and fiscal sustainability. The report was delivered during the third meeting of the emergency economic response task force, presided over by Lee. The [...]
SEOUL, July 30 (Korea Bizwire) — A special counsel team said Wednesday it has filed for a warrant to forcibly bring in former President Yoon Suk Yeol for questioning over allegations of election meddling. The request was made shortly after Yoon defied for the second time special counsel Min Joong-ki’s summons to appear for questioning. [...]
DAEJEON, July 30 (Korea Bizwire) — Police on Wednesday apprehended a man in his 20s suspected of murdering his ex-girlfriend, a woman in her 30s, in the central city of Daejeon the previous day. The Daejeon Seobu Police Station said the man, whose identity is withheld, was put under emergency detention on murder charges at [...]
SEOUL, July 30 (Korea Bizwire) — A special counsel team again raided the office of minor party leader Lee Jun-seok on Wednesday as part of its investigation into former first lady Kim Keon Hee’s alleged election meddling. Investigators from special counsel Min Joong-ki’s team searched the office of the New Reform Party (NRP) leader on [...]
TOKYO, July 30 (Korea Bizwire) — South Korean Foreign Minister Cho Hyun met with Japanese Prime Minister Shigeru Ishiba on Wednesday, during which the Japanese leader reaffirmed his intent to maintain and further develop good relations with Seoul. Ishiba made the remarks during his 15-minute meeting with Cho at the prime minister’s residence earlier in [...]
GIMCHEON, July 30 (Korea Bizwire) — A South Korean court has ruled in favor of a consumer who faced a 100 million won ($77,000) damages lawsuit after posting a negative review of an online lecture, affirming that such commentary falls under protected freedom of expression. According to the Korea Legal Aid Corporation on Wednesday, both [...]
SEOUL, July 30 (Korea Bizwire) — Foreign companies operating in South Korea are voicing strong opposition to the so-called “Yellow Envelope Law,” warning it could significantly raise legal risks and operational burdens — with some even suggesting they may reconsider their presence in the country if the bill passes. The legislation, led by the ruling [...]
SEOUL, July 30 (Korea Bizwire) — In a bold bid to restore confidence in South Korea’s financial markets, regulators have launched a new joint task force designed to swiftly identify and stamp out illegal stock trading practices. The team, which officially began operations Wednesday, brings together officials from the Financial Services Commission (FSC), the Financial [...]
SEOUL, July 30 (Korea Bizwire) — More than 100 Gyeonggi Province residents have received compensation through the region’s pioneering climate insurance program, as record heatwaves continue to drive a sharp rise in heat-related illnesses. As of July 28, the Gyeonggi Provincial Government reported a total of 110 insurance payouts: 60 cases related to heat illness, [...]
Seoul, July 30 (Korea Bizwire) — South Korea’s Ministry of National Defense has introduced a revised executive order that would allow military officers, including colonels, to be promoted for acts of integrity — such as refusing unlawful or improper commands during the controversial December 3 martial law planning incident. The amendment to the Enforcement Decree [...]