Seoul, Jan 7 (IANS) Foreign direct investment (FDI) pledges to South Korea reached a record high of over $36 billion in 2025, government data showed on Wednesday, thanks to eased political uncertainties here and the Asia-Pacific Economic Cooperation (APEC) gathering held in the country’s southeastern city of Gyeongju.Last year, South Korea received $36.05 billion worth of FDI commitments, up 4.3 percent from $34.57 billion in 2024, according to the Ministry of Trade, Industry and Resources, repo…
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Seoul, Jan 6 (IANS) The prosecution and the police formed a joint investigation team on Tuesday to handle various allegations of bribery among the Unification Church, the Shincheonji Church of Jesus and politicians, South Korea’s Supreme Prosecutors’ Office (SPO) said.The launch of the new team comes after the legally mandated investigation period of special counsel Min Joong-ki’s team ended last month, before it was able to fully determine the details of alleged bribery between the Unification …
Seoul, Jan 3 (IANS) Lee Hye-hoon, the nominee to head the newly established Ministry of Planning and Budget in South Korea, came under intensifying political pressure Saturday to step down as suspicions of her husband’s past real estate speculation emerged following revelations of her mistreating an intern while serving as a lawmaker.Lee, a former three-term lawmaker from the conservative bloc, has drawn criticism from both the ruling and opposition parties since her surprise nomination by Presi…
Seoul, Jan 3 (IANS) Lee Hye-hoon, the nominee to head the newly established Ministry of Planning and Budget, came under intensifying political pressure on Saturday to step down as suspicions of her husband’s past real estate speculation emerged following revelations of her mistreating an intern while serving as a lawmaker.Lee, a former three-term lawmaker from the conservative bloc, has drawn criticism from both the ruling and opposition parties since her surprise nomination by President Lee Jae…
Seoul, Dec 31 (IANS) The number of high-skilled workers in South Korea grew for the fourth consecutive year in 2024, with such jobs in the semiconductor sector increasing by the most, government data showed on Wednesday.The total number of industrial technology workers stood at 1.74 million as of end-2024, up 1.1 per cent from a year earlier, according to the data from the Ministry of Trade, Industry and Resources, reports Yonhap news agency.Industrial technology workers refer to high-skilled em…
Seoul, Dec 29 (IANS) South Korea’s defence ministry said Monday it has decided to take “severe” disciplinary action against five senior Army officers for their involvement in former President Yoon Suk Yeol’s failed bid to impose martial law last year. The decision came after the ministry held a committee meeting earlier this month to decide on disciplinary action against eight senior Army officers — seven generals and one colonel — involved in the martial law bid on December 3 last year.The mi…
Seoul, Dec 29 (IANS) The South Korean military said on Monday that it has conducted all joint field training drills with the United States that the allies postponed after rescheduling them from August as part of the annual summertime Ulchi Freedom Shield (UFS) exercise.In a notice to the press, the Joint Chiefs of Staff (JCS) said it had completed 22 of some 40 field drills that the allies decided to push back in August by a month.”To ensure a balanced military readiness posture year-round and t…
Seoul, Dec 26 (IANS) South Korea’s stock market enjoyed a stellar year and outperformed both regional and global peers, boosted by artificial intelligence (AI) and the government’s market reform measures.Once hovering around the 2,400 mark, the benchmark Korea Composite Stock Price Index (KOSPI) hit a new milestone on Oct. 27, surpassing the 4,000 level for the first time since the index was introduced in 1983, reports Yonhap news agency.The KOSPI was the best-performing stock gauge among those …
Seoul, Dec 22 (IANS) South Korea’s Foreign Minister Cho Hyun said Monday he would work to establish peace on the Korean Peninsula by seeking dialogue with North Korea and other relevant nations, reiterating the government’s efforts to reengage with Pyongyang. Cho made the remarks in a keynote speech at an event hosted by the South Korea-US Parliamentarians Union, saying it is time to “deeply reflect on what must be done” to ensure security and peace on the peninsula, Yonhap News Agency reported….
Seoul, Dec 22 (IANS) South Korea’s National Assembly on Monday launched a special parliamentary committee to investigate the exact cause of last year’s fatal Jeju Air plane crash that claimed 179 lives. On December 29 last year, the Jeju Air jet from Bangkok erupted into flames after crashing into a concrete mound as it overshot the runway when it made an emergency belly landing at Muan International Airport, about 290 kilometres south of Seoul, following a bird strike.The 18-member committee, w…