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 [...]
SEOUL, July 23 (Korea Bizwire) — South Korea’s industry ministry said Thursday it has launched a private-public consultative body to strengthen technological partnerships between the military and the private sector. The body’s first meeting took place in Seoul earlier in the day, attended by officials from the military, academia and domestic defense companies, the Ministry [...]
SEOUL, July 24 (Korea Bizwire) — President Lee Jae Myung on Thursday held separate phone calls with his counterparts in Germany and Uzbekistan, his office said, to discuss strengthening bilateral cooperation. During his call with German Chancellor Friedrich Merz, Lee highlighted the strong relationship between the two nations. Merz agreed, noting that Germany and South [...]
SEOUL, July 24 (Korea Bizwire) — National Security Adviser Wi Sung-lac said Thursday he has met with senior officials of the Donald Trump administration during his recent visit to the United States to support ongoing trade negotiations as the tariff deadline looms. In a press notice, Wi said he accompanied Trade Minister Yeo Han-koo for [...]