SEOUL, Dec. 10 (Korea Bizwire) — Prime Minister Han Duck-soo made a plea to political leaders and civil society to make efforts to stabilize state affairs and unite the nation to address political turmoil triggered by President Yoon Suk Yeol’s botched martial law declaration. Han made the remark during the first Cabinet meeting held after [...]
SEJONG, Dec. 10 (Korea Bizwire) — South Korea’s trade ministry said Tuesday it will work closely with related government agencies and local businesses to avoid any disruptions in preparing for the launch of the new U.S. administration amid ongoing domestic political turmoil. Trade Minister Cheong In-kyo discussed such strategies with trade and international relations experts [...]
SEOUL, Dec. 10 (Korea Bizwire) – South Korea’s economy is grappling with mounting challenges, as domestic construction downturns and global trade uncertainties weigh heavily on growth prospects, according to a report by the Korea Development Institute (KDI) on December 9. While the report notably avoided direct mention of the ongoing political turmoil surrounding President Yoon [...]
SEOUL, Dec. 10 (Korea Bizwire) – Major South Korean cryptocurrency exchanges have initiated compensation procedures for service disruptions that occurred during the December 3 martial law crisis. The exchanges are accepting compensation claims to minimize investor losses caused by access problems and delayed transactions, with some already having completed partial reimbursements. According to industry sources, leading exchanges [...]
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 [...]