GYEONGJU/SEOUL, South Korea, Dec. 9 (Korea Bizwire) — Seven people aboard a capsized boat off the southeastern coast were found in a state of cardiac arrest Monday, the Coast Guard said. The seven were among eight crew members aboard the 29-ton Geumgwang when the fishing vessel collided with a 456-ton cargo ship and capsized in [...]
SEOUL, Dec. 9 (Korea Bizwire) — The head of a special forces unit involved in last week’s martial law enforcement said Monday his soldiers are victims used by former Defense Minister Kim Yong-hyun and vowed to take full responsibility over his unit’s actions. Col. Kim Hyun-tae, head of the 707th Special Mission Group, made the [...]
SEOUL, Dec. 9 (Korea Bizwire) — The government is ready to deploy immediate market stabilization measures, including the injection of “value-up funds” into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the statement during an emergency meeting with top economic and financial officials, as South Korea grapples with the fallout from President Yoon [...]
SEOUL, Dec. 9 (Korea Bizwire) — The main opposition Democratic Party (DP) proposed a special counsel bill on Monday to investigate whether President Yoon Suk Yeol committed treason and other violations during his short-lived declaration of martial law last week. Rep. Kim Yong-min, the DP’s deputy floor leader for policy, and Rep. Kim Seung-won submitted [...]
SEOUL, Dec. 9 (Korea Bizwire) – The South Korean military flew drones over Pyongyang in October at the order of then Defense Minister Kim Yong-hyun, who is currently under investigation for his involvement in the martial law declaration, a lawmaker said Monday. Citing a tip-off from within the military, Rep. Park Beom-kye of the main [...]
SEOUL, Dec. 9 (Korea Bizwire) – Prosecutors investigating alleged treason following President Yoon Suk Yeol’s short-lived martial law imposition last week have questioned Army Chief of Staff Gen. Park An-su, who had been named to lead the martial law command, informed officials said Monday. Park was grilled by prosecutors as a witness at the Seoul Central [...]
SEOUL, Dec. 9 (Korea Bizwire) – Following President Yoon Suk Yeol’s shock declaration of martial law on December 3, foreign investors have initiated a significant withdrawal from South Korean financial institutions, marking a notable shift in international investment patterns in the country’s markets. The exodus appears driven by concerns that the financial sector could be particularly [...]
SEOUL, Dec. 8 (Korea Bizwire) — Several taxi drivers have gained widespread admiration after refusing to charge fares for passengers heading to a large protest in favor of impeaching President Yoon Suk Yeol. On December 7, a user on X (formerly Twitter) shared a screenshot showing a canceled taxi fare of 23,500 won. The driver had [...]
WASHINGTON, Dec. 5 (Korea Bizwire) — The South Korea-U.S. alliance “transcends any particular president,” a State Department spokesperson said Thursday, as the National Assembly is moving to vote on an impeachment motion against President Yoon Suk Yeol over his short-lived martial law imposition. Principal deputy spokesperson Vedant Patel made the remarks, voicing expectation that the [...]
SEOUL, Dec. 6 (Korea Bizwire) — The leader of the ruling party said Friday that President Yoon Suk Yeol needs to be swiftly suspended from exercising power, revealing that Yoon ordered the arrests of prominent politicians during his aborted martial law declaration. Han Dong-hoon of the People Power Party (PPP) said there is a possibility [...]