SEOUL, Dec. 2 (Korea Bizwire) — The state arms procurement agency on Tuesday launched a 435.9 billion-won project (US$296 million) to develop short-range air-to-air guided missiles to be equipped on South Korea’s homegrown KF-21 fighter jets. Under the plan, the country aims to develop guided missiles for homegrown fighter jets by 2032, in its bid [...]
SEOUL, Dec. 2 (Korea Bizwire) — President Lee Jae-myung on Tuesday forcefully dismissed renewed proposals for South Korea to pursue its own nuclear weapons program, calling the idea “impossible” and warning that it would trigger immediate international backlash. Speaking at a Cabinet meeting at the presidential office, Lee addressed growing calls from some opposition lawmakers to [...]
SEOUL, Dec. 1 (Korea Bizwire) — The justice ministry announced Monday that it has expanded the number of countries whose nationals can use automated immigration checks when entering Incheon International Airport, increasing the list from four to 18. The latest measure allows travelers from 14 additional countries, comprising the United Kingdom, France, Italy, Finland, Portugal, [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korea is moving to tighten regulations on electric scooters as accidents involving personal mobility devices surge nationwide, raising concerns over public safety while prompting debate about the future of these increasingly common, eco-friendly vehicles. According to data released on Sunday by the Korea Road Traffic Authority, accidents involving personal [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korea has created an interministerial task force to spearhead the development of an advanced aircraft engine for its next-generation fighter jets, an effort aimed at joining the small group of nations capable of producing such high-end defense technology, government officials said on Friday. The new body brings together [...]
SEOUL, Nov. 28 (Korea Bizwire) — A South Korean parliamentary committee on Friday, November 28, approved a landmark bill aimed at curbing the rampant black market for concert and sports tickets by empowering authorities to levy fines up to 50 times the ticket’s illegal resale price. The National Assembly’s Culture, Sports and Tourism Committee passed sweeping [...]
SEOUL, Nov. 27 (Korea Bizwire) — South Korea has taken another step toward remaking itself as a global center of artificial intelligence. On Thursday, the government convened the first meeting of a new working group made up of officials and senior executives from Samsung Electronics, Hyundai Motor Group, SK Telecom and Naver Cloud. The mission: figure [...]
SEOUL, Nov. 27 (Korea Bizwire) — Google will roll out a lower-priced version of YouTube Premium in South Korea that excludes its music-streaming service, the country’s antitrust regulator said Thursday, following a months-long probe into whether the company’s subscription bundling violated fair-trade rules. The launch is part of a corrective plan Google submitted under a consent-decision [...]
SEOUL, Nov. 27 (Korea Bizwire) — South Korea’s average household income rose for the ninth consecutive quarter in the third quarter of this year, partly driven by a sharp increase in transfer income, government data showed Thursday. The average monthly income of households came to 5.44 million won (US$3,699) in the July-September period, up 3.5 [...]
SEOUL, Nov. 26 (Korea Bizwire) — Finance Minister Koo Yun-cheol said Wednesday that South Korea stands ready to take “decisive action” to curb excessive volatility in the foreign-exchange market, as the won continues to face downward pressure against the U.S. dollar. “The won tends to react more sensitively than other currencies,” Koo told reporters, adding that [...]