Hyundai Motor unveils ambitious $90 billion electrification plan
Hyundai aims to expand its lineup of electric vehicles (EVs) and hybrid models, while also introducing a new class of vehicles known as Extended Range Electric Vehicles (EREVs).
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National pension service opposes SK innovation-SK E&S merger
The NPS, which holds a substantial stake in SK Innovation, has expressed its apprehension over the merger's terms and the strategic direction proposed.
Financial stability takes priority as South Korea faces rising household debt and slowing inflation
Household debt in South Korea has surged to over 100% of the country's GDP, one of the highest levels among advanced economies.
South Korea urges North Korea to reopen dialogue channels amid rising tensions
Kim's appeal came in the wake of President Yoon Suk Yeol’s Liberation Day address on August 15, where the South Korean leader outlined a bold vision for the future of the Korean Peninsula.
Yoon warns North Korea of regime’s end if it invades South
Yoon emphasized that North Korea’s leadership, which harbors ambitions of forcibly unifying the Korean Peninsula, would not survive an attack on the South.
Japanese PM Fumio Kishida visit to South Korea unlikely to quell Yoon’s ‘Pro-Japan’ criticism, experts say
Despite Yoon’s efforts to mend ties with Japan, including resolving disputes related to forced labor during Japan’s colonial occupation of Korea, the political climate in Seoul remains tense.
South Korea extends fuel tax cut amid growing concerns over tax revenue
Finance Minister Choo Kyung-Ho stated that the fuel tax cut extension is necessary to mitigate the effects of surging international oil prices, which have put pressure on household budgets and exacerbated inflation.
PPP lawmakers push for separate minimum wage system for foreign workers amid rising labor costs
Supporters argue that a differentiated wage system would ease the burden on industries dependent on foreign workers, particularly in childcare and eldercare, where costs for foreign caregivers often exceed 2 million won per month, making them inaccessible to many families.
Prospects of Japanese PM’s visit to South Korea remain uncertain, says Seoul official
According to Japan’s Kyodo News, Kishida has been considering a visit to South Korea before stepping down from his leadership role in the ruling Liberal Democratic Party. The visit would aim to further improve diplomatic relations between the two neighbouring countries.
South Korea launches pilot program to merge childcare and kindergarten services
The program will not only extend care hours but also incorporate educational programs during after-school hours, focusing on play-based language, mathematics, arts, and physical activities.
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