SEJONG, Dec. 23 (Korea Bizwire) — The government is set to swiftly deploy additional market stabilization measures, including the injection of the second phase of value-up funds worth 300 billion won (US$207 million) into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the remarks during an emergency meeting with top economic and financial [...]
SEOUL, Dec. 19 (Korea Bizwire) — South Korea will host the top East Asian football tournament next summer, a decision reached during the executive meeting of the sport’s regional governing body earlier this week. The East Asian Football Federation (EAFF) said Thursday that South Korea will stage the 2025 EAFF E-1 Championship from July 7 [...]
SEOUL, Dec. 19 (Korea Bizwire) — Acting President Han Duck-soo held phone talks with Japanese Prime Minister Shigeru Ishiba on Thursday and agreed to continue trilateral security cooperation with the United States to cope with the deepening military ties between North Korea and Russia, officials said. Han held the phone conversation with Ishiba after President [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s economy grew at an annualized rate of nearly 7 percent after a change in the base year for economic growth data compilation, central bank data showed Wednesday. According to the data from the Bank of Korea, Asia’s fourth-largest economy expanded at an average 6.9 percent per year [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea faces tough challenges in advancing its alliance with the United States amid a political crisis from President Yoon Suk Yeol’s martial law decree earlier this month, with less than a month to go before U.S. President-elect Donald Trump’s second term begins. Following last week’s parliamentary vote to [...]
WASHINGTON, Dec. 16 (Korea Bizwire) — The South Korea-U.S. alliance is not just between the two countries’ presidents, but one between their governments and between their people, a State Department spokesperson said Monday, stressing that there is no “diminution” in the bilateral partnership in the wake of President Yoon Suk Yeol’s impeachment. Matthew Miller, the [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea has an advantage in strengthening ties with the Global South, including Africa, given its steady engagement without historical baggage and an economic growth model admired by many developing countries, the top Kenyan envoy in Seoul has said. Ambassador Emmy Jerono Kipsoi made the remarks, voicing hope that [...]
SEOUL, Dec. 10 (Korea Bizwire) — A South Korean national residing in Australia traveled to North Korea and met with two nephews in October in the first privately arranged separated families reunion in five years, the South Korean unification ministry said Tuesday. The 80-something person, who also holds Australian citizenship, reported the North Korean trip [...]
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. 2 (Korea Bizwire) – South Korea’s economy is expected to operate below its potential capacity for six consecutive years through 2025, according to new projections from the Organization for Economic Cooperation and Development (OECD), raising concerns about structural weakness in what was once one of Asia’s fastest-growing economies. Among the Group of 7 nations [...]