SEOUL, Dec. 18 (Korea Bizwire) — The government on Wednesday unveiled a series of measures to stimulate corporate investment in key industries, aiming to address concerns that recent political turmoil could have long-term negative effects on the economy. The plan was introduced during a meeting chaired by Finance Minister Choi Sang-mok and attended by other economy-related ministers, [...]
SEOUL, Dec. 18 (Korea Bizwire) — The Constitutional Court said Wednesday it has ordered President Yoon Suk Yeol to submit the martial law decree he issued on Dec. 3 as well as the minutes of two Cabinet meetings held before and after martial law was declared. Lee Jin, a court spokesperson, told reporters the order [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea faces tough challenges in advancing its alliance with the United States amid a political crisis from President Yoon Suk Yeol’s martial law decree earlier this month, with less than a month to go before U.S. President-elect Donald Trump’s second term begins. Following last week’s parliamentary vote to [...]
SEOUL, Dec. 17 (Korea Bizwire) – A recent study by Woori Financial Group reveals that nearly 60% of South Korea’s Generation X—those born in the 1970s—have not begun preparing for retirement. The findings, published in Woori’s 2024 Trend Report, highlight the financial challenges faced by this generation, many of whom are burdened with supporting both [...]
SEOUL, Dec. 17 (Korea Bizwire) – A new analysis of social media data reveals that South Korean consumers are increasingly adopting cost-conscious spending habits, focusing on low-priced and small-packaged products. This shift reflects a growing emphasis on economic efficiency in response to prolonged inflation. Rising Concerns About Inflation According to KPR Digital Communication Research Institute, [...]
WASHINGTON, Dec. 16 (Korea Bizwire) — The South Korea-U.S. alliance is not just between the two countries’ presidents, but one between their governments and between their people, a State Department spokesperson said Monday, stressing that there is no “diminution” in the bilateral partnership in the wake of President Yoon Suk Yeol’s impeachment. Matthew Miller, the [...]
SEOUL, Dec. 17 (Korea Bizwire) – Nearly half of South Korea’s small business owners in the food and hospitality sectors report direct or indirect losses due to the ongoing political crisis following the December 3 martial law declaration and subsequent impeachment of President Yoon Suk-yeol. A survey conducted by the Korea Federation of SMEs between [...]
SEOUL, Dec. 17 (Korea Bizwire) – South Korea’s Democratic Party is advancing a wave of legislative proposals aimed at preventing the misuse of martial law, following the recent political turmoil that culminated in President Yoon Suk-yeol’s impeachment. Dubbed the “Seoul Spring Laws,” these measures seek to impose stricter controls on the declaration of martial law [...]
SEOUL, Dec. 17 (Korea Bizwire) – The National Health Insurance Service reported on December 16 that cataract surgery was the most commonly performed medical procedure among South Koreans last year. According to the “2023 Major Surgery Statistical Yearbook,” 1.66 million patients underwent close to 2 million procedures across 34 major surgical categories. These figures represent a [...]
SEOUL, Dec. 16 (Korea Bizwire) – K-pop fandom, primarily composed of women in their 20s and 30s, has emerged as a defining force in South Korea’s protest culture, blending activism with the hallmarks of fan culture. The recent impeachment of President Yoon Suk-yeol highlighted this unique phenomenon, with protests resembling the energy and organization of [...]