SEOUL, Dec. 16 (Korea Bizwire) – President Yoon Suk Yeol’s ambitious industrial agenda, including a focus on nuclear energy, offshore gas development, and semiconductor industry support, faces potential setbacks following his impeachment by the National Assembly on December 14. Industry experts warn that any weakening of government semiconductor support could cause South Korea to miss a crucial [...]
SEOUL, Dec. 16 (Korea Bizwire) — Finance Minister Choi Sang-mok reiterated Monday that uncertainties from the recent martial law debacle have eased following the impeachment of President Yoon Suk Yeol, emphasizing the country’s robust economic system. Choi made the remarks during the opening session of a regional economic forum in Seoul attended by domestic and [...]
SEOUL, Dec. 16 (Korea Bizwire) – Seoul’s Climate Action Card emerged as citizens’ favorite municipal policy this year, garnering 69,821 votes or 12.49% of the total ballots cast in the city’s annual policy ranking, officials announced on December 15. The online poll, conducted from December 3 to 9, allowed residents to vote for up to three policies [...]
SEOUL, Dec. 13 (Korea Bizwire) – South Korea’s overseas direct investment fell for the third consecutive quarter in the July-September period amid uncertainties in the global economy and geopolitical risks, the finance ministry said Friday. Investments made by South Korean companies overseas totaled US$14.19 billion in the third quarter, down 6 percent from $15.1 billion [...]
SEOUL, Dec. 13 (Korea Bizwire) — The transport ministry said Friday it will conduct a flight demonstration of a commercial-level air taxi model this week as part of a government project to introduce the urban air mobility (UAM) industry in the country. The ministry will demonstrate the operation of the S-4 model built by U.S. [...]
HONGSEONG, Dec. 12 (Korea Bizwire) – In a significant environmental initiative, waste vinyl that is typically incinerated will soon be transformed into high-quality resources, including aviation fuel. The South Chungcheong Province government signed a memorandum of understanding on December 11 at the provincial office with HD Hyundai Oilbank, Hanwha TotalEnergies, and four cities – Cheonan, Asan, [...]
SEOUL, Dec. 11 (Korea Bizwire) – The South Korean government’s ambitious plan to introduce AI-powered digital textbooks (AIDTs) has met with significant resistance from educators and civic groups nationwide, leaving the policy in jeopardy. Initially slated for rollout in March 2025 for select elementary, middle, and high school students, the initiative aimed to bolster digital [...]
SEOUL, Dec. 11 (Korea Bizwire) — The government said Wednesday it will work to enhance the competitiveness of the domestic aviation industry while minimizing potential monopolistic harm from the soon pending merger between Korean Air Co. and Asiana Airlines Inc. The transport ministry announced an aviation industry support plan during a meeting of industries-focused ministries held at [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea’s oceans ministry said Wednesday the government will invest 14 trillion won (US$9.75 billion) through 2045 to upgrade Busan Port, aiming to achieve the world’s largest container handling capacity and establish it as the leading logistics hub in the region. Under the plan, South Korea will construct a [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s Artificial Intelligence (AI) Framework Act, once slated for approval by the end of the year, has been derailed due to escalating political tensions following the botched martial law incident and the collapse of an impeachment motion against President Yoon Suk-yeol. The delay has heightened uncertainty for the country’s [...]