SEOUL, June 30 (Korea Bizwire) — As the clock ticks down to a critical trade deadline, South Korea is turning to its citizens, industry experts, and policy stakeholders for input before it finalizes its negotiation stance in upcoming tariff talks with the United States. On Monday, the Ministry of Trade, Industry and Energy held a [...]
SEOUL, June 30 (Korea Bizwire) — The Bank of Korea (BOK) has put the second phase of its central bank digital currency (CBDC) pilot program on hold, signaling mounting pressure from commercial banks and a shifting digital finance landscape increasingly shaped by stablecoin developments. The abrupt pause, disclosed in a virtual meeting with participating banks [...]
SEOUL, June 28 (Korea Bizwire) — South Korea’s information and communications technology (ICT) sector is increasingly embracing the four-day workweek, as President Lee Jae-myung’s campaign pledge to reduce working hours without cutting wages begins to materialize in practice. Tech companies with high salaries and flexible work cultures are leading the shift, signaling a potential turning [...]
SEOUL, June 26 (Korea Bizwire) — The government convened a consultative meeting with the private sector Thursday to discuss the development of quantum technology amid an intensifying global race to secure a future game changer across economic and security domains, the finance ministry said. The consultative body, led by the Ministry of Economy and Finance, [...]
SEOUL, June 26 (Korea Bizwire) — South Korea has approved the decommissioning of the country’s first commercial nuclear reactor, the now-defunct Kori-1 unit, the Nuclear Safety and Security Commission (NSSC) said Thursday, also marking its first-ever decommissioning of a reactor. Unit 1 of the Kori nuclear power plant, located in the southeastern city of Busan, [...]
SEOUL, June 26 (Korea Bizwire) — South Korea is pushing to build two hydrogen clusters in east coast provinces as part of efforts to foster the growth of hydrogen-related businesses, including hydrogen batteries, the industry ministry said Thursday. The country will start constructing a special industrial complex for hydrogen storage and transportation across the eastern [...]
SEOUL, June 26 (Korea Bizwire) — President Lee Jae-myung has raised the possibility of reintroducing South Korea’s traditional bar exam system, signaling potential reforms to the country’s legal education pathway and reigniting a long-standing national debate. During a town hall meeting in Gwangju on June 25, President Lee responded to a citizen’s call for the [...]
SEOUL, June 24 (Korea Bizwire) — In a quiet but meaningful shift reflecting South Korea’s evolving social fabric, the Supreme Court announced Tuesday that a Korean national and their foreign spouse can now register their child’s birth using names of any length—ending a long-standing restriction that effectively barred lengthy names from appearing in official records. [...]
SEOUL, June 24 (Korea Bizwire) — As South Korea moves to tighten emissions standards for new buildings, including private apartments starting later this month, policymakers are looking to timber-based construction as a viable path toward carbon neutrality in the housing sector. A new report from the Korea Land and Housing Corporation (LH) underscores the urgency [...]
SEOUL, June 23 (Korea Bizwire) — South Korea’s Ministry of Employment and Labor announced Saturday that it will accept applications for new employment permits for foreign workers from July 7 to 18 through local labor offices nationwide, as part of the country’s third-round quota for 2025. A total of 18,054 foreign workers will be newly authorized [...]