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 [...]
SEOUL, July 1 (Korea Bizwire) — As South Korea braces for another scorching summer, the Seoul Metropolitan Government has launched a comprehensive heat wave response plan aimed at protecting vulnerable residents and mitigating urban heat island effects through September. Dubbed the “2025 Comprehensive Heat Wave Countermeasures,” the plan includes a wide array of initiatives: expanding [...]
SEOUL, July 1 (Korea Bizwire) — Starting in July, 30 secondary hospitals across South Korea will begin offering round-the-clock medical services in five critical fields: burn treatment, microsurgery, childbirth, pediatrics, and cerebrovascular care, the Ministry of Health and Welfare announced Monday. The initiative aims to bolster access to essential medical services in areas where supply [...]
SEOUL, June 30 (Korea Bizwire) — South Korea will raising the travel alert for Bolivia’s Cochabamba region starting next month, due to growing instability from intensifying anti-government protests and rising organized crime, the foreign ministry said Monday. A Level 3 travel alert, calling for citizens to leave the country, will be applied to Cochabamba beginning [...]
SEOUL, June 30 (Korea Bizwire) — South Korea’s Ministry of Science and ICT announced Monday it will reassign all 370 MHz of mobile communication spectrum, including bands used for 3G services, to existing telecom operators, ensuring the continuation of older networks for the time being. The decision follows concerns over potential service disruptions for remaining [...]
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, [...]