Day: December 7, 2022

SEOUL– The government is preparing to hold an extraordinary Cabinet session to consider issuing an additional back-to-work order against striking truckers, an official said Wednesday.   The meeting will likely be held Thursday and be presided over by Prime Minister Han Duck-soo as the nationwide strike continues to disrupt supply chains.   “We’re preparing to … Read more

SEOUL– For creators of television dramas who are in an uphill battle to catch the attention of viewers in the era of streaming services, popular webtoons have emerged as a proven recipe for success.   Webtoons, a type of digital comics originated from South Korea and usually meant to be read on smartphones, have seen … Read more

SEOUL– South Korea’s central bank will continue raising its key policy rate, possibly peaking at 3.5 percent in 2023, an economist at global credit appraiser S&P Global Rating said Wednesday.   The Bank of Korea (BOK) has hiked the rate by a combined 2.75 percentage points since August last year to tame inflation. The rate … Read more

SEOUL– South Korea will funnel 400 billion won (US$304.5 million) into research and development next year to foster the digital transformation in the bio technology sector as part of the country’s long-term future growth plan, the science ministry said Wednesday.   The Ministry of Science and ICT released its latest digital-biotech strategy, saying the integration … Read more

SEOUL– President Yoon Suk-yeol said Wednesday that South Korea must “perfectly overwhelm” North Korea in conventional military strength even though the North may be armed with nuclear weapons, his office said.   Yoon made the remark while meeting with 18 new lieutenants general at the presidential office following a ceremony marking their promotions.   “President … Read more

SEOUL– South Korea’s New Marine Corps Commandant Lt. Gen. Kim Gye-hwan took office Wednesday, highlighting his resolve to make the armed service a “national strategic” force capable of countering threats from “all directions.”   His inauguration ceremony took place at the Marine Corps headquarters in Hwaseong, some 40 kilometers south of Seoul. Gen. Paul LaCamera, … Read more

SEOUL– South Korean Defense Minister Lee Jong-sup on Wednesday highlighted the need for the country’s troops to “clearly” recognize the North Korean regime and its military as an “enemy,” citing its continued missile provocations.   Lee made the remarks at a forum on the military’s spiritual and mental force enhancement as his ministry is poised … Read more