JEJU, South Korea, April 9 (Korea Bizwire) — Jeju Special Self-Governing Province has become the first region in South Korea to commercialize products made from repurposed electric vehicle (EV) batteries, marking a significant step toward a circular energy economy. In partnership with the Ministry of Environment and Jeju Technopark (Jeju TP), the province officially launched a [...]
SEOUL, April 8 (Korea Bizwire) — In a move aimed at enhancing transparency in South Korea’s booming gaming industry, a new legislative proposal seeks to require game companies not only to disclose loot box odds, but also to provide players with their full personal histories of loot box outcomes. Representative Kim Byung-kee of the Democratic [...]
SEOUL, April 7 (Korea Bizwire) — The South Korean market could face heightened volatility for a longer-than-expected period due to the Donald Trump administration’s sweeping tariff policy, the central bank said Monday, calling for prompt implementation of market stabilization measures when necessary. Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai made the assessment during an [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s financial regulator asked local banks on Monday to play an active role in providing funds for businesses facing difficulties due to the Donald Trump administration’s sweeping tariffs. Kim Byoung-hwan, the chief of the Financial Services Commission (FSC), made the call during a meeting with the heads of [...]
SEOUL, April 6 (Korea Bizwire) — Short selling activity in South Korean amounted to 6.4 trillion won (US$4.38 billion) in the first week after a more than a yearlong ban was lifted, the bourse operator said Sunday. Last Monday, short selling was allowed for all listed firms following a suspension imposed in November 2023 after [...]
SEOUL, April 6 (Korea Bizwire) — The South Korean government announced Sunday it will grant special residency status to three Indonesian nationals who played a critical role in aiding wildfire evacuations earlier this year. The move comes as part of a broader emergency response that also includes supplying 1,460 temporary housing units to residents displaced by [...]
SEOUL, April 4 (Korea Bizwire) — The unification ministry vowed Friday to monitor any movements by North Korea and stably manage the security situation on the Korean Peninsula after the Constitutional Court’s ruling that ousted impeached former President Yoon Suk Yeol from office. “The ministry will closely monitor North Korea’s movements while making every effort [...]
SEOUL, April 3 (Korea Bizwire) — South Korea’s economy will likely face headwinds as the U.S. administration’s plan to impose “reciprocal” tariffs is expected to deal a severe blow to the country’s shipments to the United States, while seriously disrupting the global market that may again adversely affect South Korean exports, local experts said. They [...]
SEOUL, April 3 (Korea Bizwire) — U.S. President Donald Trump’s announcement on “reciprocal” tariffs Wednesday appears to have put South Korea deeper into a soul-searching mode over its growing reliance on the United States for trade, as the protectionist move further jeopardized the fate of a bilateral free trade agreement (FTA). Trump announced a 10 [...]
SEOUL, April 2 (Korea Bizwire) — South Korea officially launched a support program Wednesday for foreigners with expertise in advanced technologies who wish to work in the country that includes a special visa for such foreign talent, a move aimed at enhancing the competitiveness of local advanced industries. The so-called K-Tech Pass program has been [...]