SEOUL, Aug. 27 (Korea Bizwire) — The government’s proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles have also grown in the face of weak domestic demand and longer-term growth momentum, experts said Tuesday. The finance ministry [...]
SEOUL, April 6 (Korea Bizwire) — South Korea said Wednesday it will help restore the number of inbound and outbound international flights to 50 percent of the 2019 level by the year’s end to meet pent-up travel demand amid eased virus curbs. Domestic and multinational airlines offered 4,714 international flights through Incheon International Airport and [...]
SEOUL, March. 11 (Korea Bizwire) — Seoul’s reduced late night subway schedule will begin to be normalized from next week, as social distancing rules have been eased amid the prolonged pandemic, the city government said Friday. Seoul subway trains have been running on a schedule down by up to 20 percent after 10 p.m. since [...]
SEOUL, Apr. 15 (Korea Bizwire) — U.S. automobile giant General Motors Co. hinted at possible willingness to withdraw the planned debt-for-equity swap for GM Korea Co., in an apparent bid to induce the state creditor to pump more cash into the financially-troubled South Korean unit, industry sources said Sunday. According to the sources, GM Executive [...]
SEOUL, Jan. 23 (Korea Bizwire) — Unionized workers of public broadcaster KBS will end a nearly five-month strike this week, the union said Tuesday, one day after the company board approved a motion to dismiss its president, who has been accused of political bias and unfair labor practices. The union plans to hold a ceremony [...]
SEOUL, Dec. 1 (Korea Bizwire) – After 15 months of struggle for normalization, South Korea’s No. 3 smartphone maker Pantech Co. officially set sail on Tuesday, with a vision to focus on budget smartphones, especially in the Asian market. The move came more than a month after a Seoul court gave approval to a local [...]