SEOUL, Jan. 12 (Korea Bizwire) – South Korea said Tuesday it is not considering temporarily shutting down a joint industrial park in North Korea at this stage despite the North’s claimed successful test of a hydrogen bomb last week. The government has decided to limit the entry of South Korean nationals into Kaesong Industrial Complex [...]
SEOUL, Jan. 3 (Korea Bizwire) – North Korean leader Kim Jong-un vowed efforts Friday to improve ties with South Korea, saying that he is open to talks with Seoul in an open-minded manner for unification. In his New Year’s message delivered live on the North’s television, Kim said North Korea is open to having candid [...]
SEOUL, Dec. 27 (Yonhap) – South Korea needs to revive its economic dynamics to achieve sustainable growth, as it may face a drop in growth potential due to the rapidly aging population, a director of the International Monetary Fund (IMF) said Sunday. “The Bank of Korea (BOK) estimated that South Korea’s growth potential is around 3 to 3.2 percent, but it will likely drop to below 3 percent in the long-term due to structural [...]
SEJONG, Dec. 23 (Korea Bizwire) – South Korea is to formally declare an end to the Middle East Respiratory Syndrome (MERS) health threat at midnight Wednesday, more than seven months after the first case was confirmed in the country, the government said. The Ministry of Health and Welfare said the decision follows guidelines set by [...]
SEOUL, Dec. 23 (Korea Bizwire) - A total of 22 refugees from Myanmar arrived in South Korea, officials said Wednesday, becoming the first beneficiaries of Seoul’s new resettlement program for refugees. The refugees, four different families, had been staying at refugee camps in Thailand to avoid suppression in Myanmar before being allowed to fly to South [...]
SEOUL, Dec. 18 (Korea Bizwire) – The majority of suicides in South Korea take place outside the home, which is in stark contrast to other countries where people opt to die at home, an international study showed on Friday. The report, published in the latest issue of the journal Social Psychiatry and Psychiatric Epidemiology and [...]
SEOUL, Dec. 17 (Korea Bizwire) – South Korea won’t accept North Korea’s demands simply to achieve its goal of regular reunions for families separated in the 1950-53 Korean War, Seoul’s point man on Pyongyang said Thursday. Unification Minister Hong Yong-pyo was referring to Pyongyang’s demand that the two sides resume a long-stalled tour program to [...]
SEJONG, Dec. 16 (Korea Bizwire) - The free trade pact between South Korea and Vietnam will go into effect on Dec. 20, and will help fuel trade and expand investment opportunities, the government said Wednesday. According to the Ministry of Trade, Industry and Energy, Seoul and Hanoi agreed on the effective date through diplomatic channels, with [...]
SEOUL, Nov. 17 (Korea Bizwire) – Mounting household debt in South Korea is a major risk factor that could undermine financial stability and economic growth of Asia’s fourth-largest economy, but the country’s fundamental soundness and pre-emptive measures could help resolve such problems, a former Moody’s analyst said Tuesday. “(A U.S. rate hike) will have effects [...]
SEOUL, Oct. 19 (Korea Bizwire) – Seoul and Washington have shared that there is no problem in South Korea’s entry into the U.S.-led Trans-Pacific Partnership deal as the two sides already have a free trade deal with high standards, an official said Sunday. An Chong-bum, senior presidential secretary for economic affairs, told reporters that the United [...]