National
Stay up to date on government, politics and public policy news from South Korea that may impact markets and public investment.
Foreign direct investment in 1Q hits record USD 5.63B
Foreign direct investment (FDI) in the first quarter reached a record high. The Ministry of Trade, Industry and Energy on April 6 said FDI in the quarter reached USD 5.63 billion, up 3.4% from the same period last year. The ministry said the record performance was all the more meaningful…
Seoul ranked 10th among global cities in financial competitiveness
The Seoul Metropolitan Government on March 23 said the capital ranked 10th in the Global Financial Centres Index (GFCI), which evaluates the financial competitiveness of cities worldwide.…
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Japanese students resume field trips to Korea after 3-year hiatus
Japanese students will resume going on field trips to Korea after a three-year hiatus due to the coronavirus. The Ministry of Culture, Sports and Tourism of Korea on March 20 said 37 students…
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Mask rule for public transit, pharmacies to be eased from March 20
he national rule requiring mask wearing will be scrapped on March 20 on public transportation like buses and subways and at pharmacies located in large open spaces like hypermarkets or train…
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Fitch keeps sovereign rating at ‘AA-,’ expects 1.2% growth this year
Fitch on March 13 said it maintained Korea’s sovereign rating at “AA-” (stable). The global ratings agency has kept Korea’s grade at “AA-,” Fitch’s…
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President Yoon to leave for state visit to US on April 26
President Yoon Suk Yeol on April 26 will pay a state visit to the U.S. at the invitation of U.S. President Joe Biden. Senior Secretary to the President for Public Relations Kim Eun-hye on…
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Rescue team in Turkey saves 5 people on first day of operations
The Korea Disaster Relief Team (KDRT) dispatched to Turkiye (Turkey) to help victims of the devastating earthquake there on Feb. 9 rescued 5 people on the first day of its search-and-rescue…
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South Korea Sends 118 Rescue Workers to Turkey
The Korea Disaster Relief Team (KDRT) has left for Turkiye (Turkey) to perform search-and-rescue operations in the quake-ravaged country. The Ministry of Foreign Affairs on Feb.…
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President Yoon urges active support for quake-hit Turkey
President Yoon Suk Yeol on Feb. 7 urged the government to promptly provide aid to Turkiye (Turkey), which was hit by an earthquake the day before. Senior Secretary to the President for Public…
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Signboards nationwide display top 10 achievements of Yoon gov’t
The Office of the President on Feb. 2 announced the top 10 achievements of President Yoon Suk Yeol during his first nine months in office. The 10 accomplishments reflect the president’s…
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Crackdown on Illegal Workers in Korea to Resume in Full Force
Over the past several years, the issue of illegal immigration has increased rapidly in South Korea. After largely suspending immigration and customs enforcement due to the pandemic, the Korean…
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COVID-19 PCR Test Requirement & Short-term Visit Visa Restriction Strengthens
Korea government has strengthened protective measures to prevent the spread of COVID-19 coming in from China. With exceptions to government officials, important business purposes, and urgent…
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Gov’t urges Japan to retract ‘unjustifiable’ claim to Dokdo Island
The Ministry of Foreign Affairs on Jan. 23 said, “We strongly protest the Japanese government’s repeated unjustified claims of territorial sovereignty over Dokdo Island, which is…
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Monthly subsidy of up to KRW 700K launched for families with infants
Families with infants under a year old and age 1 from Jan. 25 can receive monthly “parental pay.” The Ministry of Health and Welfare that day said families with an infant up to 11…
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Domestically developed fighter jet makes 1st supersonic test flight
The domestically developed KF-21 Boramae fighter jet has made its first supersonic flight. The Defense Acquisition Program Administration (DAPA) on Jan. 18 said the plane had a successful…
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UAE pledges USD 30B investment in Korea after bilateral summit
The United Arab Emirates (UAE) has pledged investment of USD 30 billion (KRW 37.26 trillion) in Korea, the Office of the President in Seoul said on Jan. 15. Senior Secretary to the President…
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Korea ranked second worldwide in ‘passport power’
Korea’s “passport power” is ranked second worldwide among 199 countries. According to the 2023 Henley Passport Index for the first quarter of this year released by the…
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Korea Grand Sale opened with up to 94% off Korea-bound airfare
This year’s Korea Grand Sale, a shopping, cultural and tourism extravaganza for foreign nationals, was opened on Jan. 12. The Ministry of Culture, Sports and Tourism said the event will…
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Korea Grand Sale 2023
The Korea Grand Sale is Korea’s representative shopping, culture, and tourism festival combining tourism and Hallyu for international visitors. The Korea Grand Sale offers the pleasure…
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Voting for 4 branding slogan candidates for Seoul to run this month
The Seoul Metropolitan Government is conducting a survey at home and abroad to select a new branding slogan for the capital. To enhance the city’s competitiveness and take a major step…
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Visit Korea Year 2023-2024 Begins
On December 12, 2022, Korea government has declared 2023-2024 the Visit Korea Year. During the two-year period, Korea Tourism Organization will offer various events, travel packages, and…
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