SEOUL, July 3 (Korea Bizwire) — Samyang Foods Inc., maker of the globally popular Buldak spicy ramyeon, said Thursday it has begun construction of its first overseas production facility in China to meet growing demand for its signature product. The company will invest 201.4 billion won (US$148 million) in the new plant, which will be [...]
SEOUL, July 3 (Korea Bizwire) — The National Assembly on Thursday endorsed President Lee Jae Myung’s pick for prime minister, although all lawmakers from the main opposition People Power Party boycotted the vote over allegations surrounding his wealth and family. The Assembly passed the confirmation motion for Kim Min-seok in a 173-3 vote with three [...]
SEOUL, July 3 (Korea Bizwire) — North Korea has established drone production with Russia’s help, and Russian instructors are also training drone pilots in Pyongyang and the eastern city of Wonsan, a Russian official’s Telegram showed Thursday. “As I said back in the autumn … the production of Shahed-Geran drones in North Korea has already [...]
GIMPO, South Korea, July 3 (Korea Bizwire) – Not long ago, the western fringes of South Korea near the inter-Korean border were anything but peaceful. Night and day, the air reverberated with North Korean loudspeakers blaring a relentless mix of metallic screeches and propaganda across the Han River estuary — a psychological barrage that left [...]
SEOUL, July 3 (Korea Bizwire) — A special counsel team launched a raid on a mid-sized builder Thursday as part of its investigation into stock price manipulation allegations involving former first lady Kim Keon Hee. The team — led by special counsel Min Joong-ki — said in a notice to the press that the search [...]
SEOUL, July 3 (Korea Bizwire) — South Korea is facing renewed debate over reviving its once-prestigious national bar exam, as President Lee Jae-myung recently questioned the effectiveness of the country’s law school system. His remarks have reignited a long-standing controversy over access, fairness, and the future of legal education. At the heart of the discussion [...]
SEOUL, July 3 (Korea Bizwire) — In a bid to root out taxi overcharging and service refusals targeting foreign visitors, the Seoul Metropolitan Government announced on Wednesday a new crackdown initiative that leverages QR code-based reporting and strengthened on-site enforcement at major transportation hubs. Beginning last month, the city began distributing business card-sized survey cards [...]
SEOUL, July 2 (Korea Bizwire) — South Korea has finalized a landmark defense export deal with Poland for a second batch of K2 Black Panther tanks, marking the largest single defense export contract in the country’s history and the first major arms deal under President Lee Jae-myung’s administration. The Defense Acquisition Program Administration (DAPA) announced [...]
SEOUL, July 2 (Korea Bizwire) — South Korea’s ruling and opposition parties have reached a landmark agreement to pass a long-disputed amendment to the Commercial Act that includes the so-called “3% rule,” sparking concern across the business community over heightened risks to corporate governance and investment certainty. The amendment, scheduled for a vote in the [...]
SEOUL, July 2 (Korea Bizwire) — In a move that could become the first major diplomatic test of President Lee Jae-myung’s nascent administration, China has approached South Korea about his potential attendance at a military parade this September, commemorating the 80th anniversary of its World War II victory over Japanese aggression. Diplomatic sources revealed Wednesday [...]