SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s real estate market is grappling with uncertainty following the December 3 emergency martial law and the subsequent impeachment proceedings against President Yoon Suk-yeol. Political instability, coupled with tightened loan regulations, has dampened buyer sentiment, raising fears of a prolonged downturn in the housing sector. Apartment transactions in [...]
SEOUL, Dec. 9 (Korea Bizwire) – Rising exchange rates could push South Korea’s already elevated food prices even higher next year, experts warn, as the country’s heavy reliance on imported food ingredients makes it particularly vulnerable to currency fluctuations. The won has weakened significantly against the dollar in recent weeks, with the exchange rate breaking through 1,400 [...]
SEOUL, Dec. 9 (Korea Bizwire) – As nationwide protests criticizing President Yoon Suk Yeol’s declaration of martial law gain momentum, a wave of innovative, community-driven acts is capturing attention. Among them, citizens and students are pre-paying for food and drinks—such as coffee, rice rolls, and soups—at nearby shops to support fellow demonstrators. Social media platforms [...]
SEOUL, Dec. 9 (Korea Bizwire) — Prosecutors questioned former Defense Minister Kim Yong-hyun for the third round on Monday on treason charges related to President Yoon Suk Yeol’s martial law declaration last week. The special prosecution investigation team handling the case brought Kim in for questioning Monday morning on treason, abuse of power and other [...]
SEOUL, Dec. 9 (Korea Bizwire) — Police said Monday they are reviewing whether to impose a travel ban on President Yoon Suk Yeol to investigate him over treason and other charges related to his short-lived declaration of martial law last week. Yoon has been booked as a suspect in investigations by both the police and [...]
SEOUL, Dec. 9 (Korea Bizwire) — Civic groups were set to stage another candlelight vigil near the National Assembly on Monday to call for the impeachment of President Yoon Suk Yeol over last week’s botched martial law declaration. The rally, led by the Korean Confederation of Trade Unions (KCTU), one of the largest umbrella labor [...]
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 [...]