SEOUL, July 7 (Korea Bizwire) — South Korea’s major conglomerates are scrambling to respond after the National Assembly passed sweeping amendments to the Commercial Act championed by President Lee Jae-myung’s administration. The reform, more aggressive than the version previously vetoed by former President Yoon Suk-yeol, introduces expanded shareholder rights and tighter oversight of corporate boards. At [...]
SEOUL, July 7 (Korea Bizwire) — Seoul is preparing to reintroduce trams to its streets for the first time in nearly six decades, as construction on the Wirye Line, the city’s first modern tram project, approaches completion. According to the Seoul Metropolitan Government, the Wirye tram line is scheduled to open in September 2026, with [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s Ministry of Health and Welfare announced Saturday that 60 additional in-home long-term care medical centers have been designated nationwide, bringing the total number to 195 just two and a half years after the initiative began. Launched in December 2022 with 28 sites, the program enables elderly individuals with [...]
JEJU, July 3 (Korea Bizwire) — In a rare opening to the public, South Korean authorities on Saturday unveiled Baekrok Spring, the country’s highest natural spring located near the summit of Mount Hallasan on Jeju Island. Situated at 1,675 meters above sea level, the spring had never before been accessible to civilians due to its remote location [...]
BUSAN, July 5 (Korea Bizwire) — As South Korea grapples with an early and intense heatwave, dock workers at Busan’s Sinseondae Terminal—one of the busiest transshipment hubs in the world—are enduring punishing conditions with little reprieve, raising concerns over labor safety in the nation’s critical shipping industry. On July 4, with heat advisories in effect [...]
SEOUL, July 5 (Korea Bizwire) — South Korea’s internet companies, including Naver, Kakao, and global platforms like Google, deleted or blocked over 180,000 illegal sexually explicit videos last year, more than double the number from the previous year, according to a government report released Friday. The sharp increase in takedowns, which rose by 122 percent [...]
SEOUL, July 4 (Korea Bizwire) — As Squid Game Season 3 dominates global viewership charts, the series has once again sparked controversy in China, where Netflix is not officially available. Despite the platform’s absence, the latest season has garnered tens of thousands of reviews and ratings on Douban, China’s largest user-generated content site, pointing to [...]
SEOUL, July 4 (Korea Bizwire) – President Lee Jae Myung on Friday called for balanced economic growth and regional development, as the nation grapples with slow economic growth and rising income equality. Lee said business conglomerates, or chaebol, have helped South Korea achieve a developed nation at a time of rapid economic growth, but it [...]
SEOUL, July 4 (Korea Bizwire) – North Korea has set up a new ministry in charge of emergency disaster management in a bid to better respond to natural disasters, South Korea’s unification ministry said Friday. A new government agency, tentatively named the disaster prevention ministry, was first identified in footage aired by North Korea’s state-run [...]
SEOUL, July 4 (Korea Bizwire) — National Security Adviser Wi Sung-lac met with his Japanese counterpart, Masataka Okano, in Seoul on Friday to discuss ways to advance bilateral ties as well as a range of issues, including North Korea, the presidential office said. “Both sides exchanged their opinions on developing South Korea-Japan relations as well [...]