SEOUL, Dec. 12 (Korea Bizwire) — President Yoon Suk Yeol on Thursday defended his botched martial law declaration as an act of governance and denied insurrection charges facing him, while vowing to fight until the last moment against whether it is impeachment or a martial law probe. In a televised public address, Yoon said sending [...]
GWANGJU, Dec. 12 (Korea Bizwire) – A group of South Korean citizens has announced plans to file a class-action lawsuit against President Yoon Suk-yeol, seeking compensation for mental distress caused by the controversial “December 3 Martial Law Incident.” The lawsuit, organized by the group “Preparatory Committee for Compensation Claims Against Yoon Suk-yeol’s Acts of Treason,” [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea’s Ministry of SMEs and Startups announced the winners of the 2024 K-Startup Grand Challenge during a Demo Day event held at COEX on December 11. The competition, which aims to attract and support global startups in establishing their presence in South Korea, drew participation from 1,716 teams [...]
SEOUL, Dec. 11 (Korea Bizwire) – The resale value of South Korean presidential memorabilia has seen a notable decline following the December 3 imposition of martial law, reflecting shifting public sentiment. According to industry sources, a “Classic” model of President Yoon Suk Yeol’s commemorative wristwatch was sold for ₩80,000 (approximately $56) on December 7 through a [...]
CHUNCHEON, Dec. 11 (Korea Bizwire) – In a small elementary school in Gangwon Province, a second-grade classroom became the unlikely setting for a lesson in justice, inspired by South Korea’s recent political turmoil. On December 4, as the nation began to recover from a martial law crisis that had gripped its parliament and public, a teacher, [...]
SEOUL, Dec. 11 (Korea Bizwire) — Former Defense Minister Kim Yong-hyun was formally arrested Wednesday on charges of helping President Yoon Suk Yeol stage an insurrection through his short-lived imposition of martial law last week. The Seoul Central District Court issued a warrant for his arrest after prosecutors accused Kim of engaging in “essential” activities [...]
SEOUL, Dec. 11 (Korea Bizwire) — U.S. Treasury Secretary Janet Yellen has reaffirmed the strong alliance between South Korea and the United States during talks with her South Korean counterpart, the finance ministry said Wednesday. Yellen and Finance Minister Choi Sang-mok held a video conference on Tuesday to discuss the ongoing unrest and evaluate economic [...]
SEOUL, Dec. 11 (Korea Bizwire) — North Korea’s state media on Wednesday reported on the martial law turmoil in South Korea for the first time, including the opposition’s push to impeach President Yoon Suk Yeol, while blaming Yoon for causing nationwide chaos. “The shocking incident of the puppet Yoon Suk Yeol regime … suddenly declaring [...]
SEOUL, Dec. 11 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that the government will continue to closely monitor the market and to fully implement market stabilization measures amid lingering uncertainties from a political crisis. Choi made the remarks during a daily emergency meeting with Bank of Korea Gov. Rhee Chang-yong and other top [...]
SEOUL, Dec. 11 (Korea Bizwire) — The main opposition Democratic Party (DP) is set to introduce a new impeachment motion against President Yoon Suk Yeol on Wednesday over his failed bid to impose martial law, days after Yoon avoided impeachment because most ruling party lawmakers boycotted a vote. The DP’s move comes after a motion [...]