SEOUL, April 14 (Korea Bizwire) — The Seoul Metropolitan Government has announced it will expand its free Hangang River sightseeing shuttle service, known as the Hangang Haechi Car, to Nanji Hangang Park, following the success of its pilot program in Banpo Hangang Park last year. The electric shuttles, designed with the city’s Haechi mascot, will operate [...]
SEOUL, April 14 (Korea Bizwire) — As South Korea enters an early presidential race, a recent survey has revealed that the top policy demand among labor experts is the full application of the Labor Standards Act to all workers, including those at small businesses and in freelance or non-standard roles. In a poll conducted by labor [...]
SEOUL, April 12 (Korea Bizwire) — As South Korea’s petrochemical sector grapples with a historic downturn, the government is expected to unveil new support measures in the coming months, following the completion of a strategic industry consulting project commissioned to address deep structural challenges. The Korea Petrochemical Industry Association recently submitted a final report to [...]
SEOUL, April 11 (Korea Bizwire) — The government announced plans Friday to inject an additional 9 trillion won (US$6.6 billion) in financing to support exporters facing strong tariffs imposed by U.S. President Donald Trump’s administration and escalating global trade tensions. The decision was made during a meeting of external economic ministers held in Seoul, as [...]
SEOUL, April 11 (Korea Bizwire) — The Finance Ministry said Friday that the government will extend the tariff-rate quota system on pork and egg product imports in an effort to stabilize food prices. Starting May 1, emergency tariff quotas will be applied to 10,000 tons of raw pork for processed foods and 4,000 tons of [...]
SEOUL, April 10 (Korea Bizwire) — Unification Minister Kim Yung-ho said Thursday the key to addressing North Korea’s provocations and nuclear ambitions lies in the unified goals and coordinated actions of the international community. Kim made the remarks during a press conference in Tokyo, where he reaffirmed Seoul’s commitment to achieving the complete denuclearization of [...]
SEOUL, April 10 (Korea Bizwire) — South Korea and the United States signed a new joint wartime operations plan (OPLAN) last year to counter evolving North Korean military threats, the commander of U.S. Forces Korea (USFK) said Wednesday. Gen. Xavier Brunson made the remarks in a written statement to the House Armed Services Committee, as [...]
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 [...]