SEOUL, Dec. 1 (Korea Bizwire) – South Korea and the United States have not discussed any military options, including a naval blockade, against North Korea, an official from South Korea’s presidential office Cheong Wa Dae said Friday. The remarks came hours after President Moon Jae-in and U.S. President Donald Trump held their second telephone conversation [...]
SEOUL, July 26 (Korea Bizwire) – The new ministry in charge of small and medium-sized businesses (SMEs) officially started work Wednesday amid expectations it will support smaller companies and create new jobs. Earlier this month, the parliament passed a bill to elevate the Small and Medium Business Administration (SMBA) to a ministry for SMEs, venture [...]
SEOUL, July 21 (Korea Bizwire) – The government will adopt “universal” mobile subscription fees sometime next year in line with its efforts to reduce the cost burden for mobile phone users, the ICT ministry said Friday. According to the draft version of the revision to the telecommunication law — subject to parliamentary endorsement — a [...]
SEOUL, July 19 (Korea Bizwire) – South Korea’s Unification Ministry on Wednesday approved Hyundai Asan Corp.’s bid to contact North Korea as the company seeks to visit the North next month to mark the anniversary of the death of its former chairman. The operator of the now-suspended inter-Korean tour to Mount Kumgang on North Korea’s [...]
SEOUL, July 7 (Korea Bizwire) – South Korea’s central bank is expected to hold its key rates steady this month as it could move to “normalize” interest in early 2018, Moody’s Analytics said Friday. The Bank of Korea (BOK) is set to hold its rate-review session next Thursday to decide whether to keep or adjust [...]