Page 4 - South Korea Economy

S Korea sets Feb 29 as deadline for its young doctors to return to work

South Korea's government gave striking young doctors four days to report back to work, saying on Monday that they won't be punished if they return by the deadline but will face indictments and suspensions of medical licenses if they don't. About 9,000 medical interns and residents have stayed off the job since early last week to protest a government plan to increase medical school admissions by about 65 per cent. The walkouts have severely hurt the operations of their hospitals, with numerous cancellations of surgeries and other treatments. Government officials say adding more doctors is necessary to deal with South Korea's rapidly aging population. The country's current doctor-to-patient ratio is among the lowest in the developed world. The strikers say universities can't handle so many new students and argue the plan would not resolve a chronic shortage of doctors in some key but low-paying areas like pediatrics and emergency departments. Vice Health Minister Park Min-soo said ..

No desire for talks, will destroy S Korea if provoked: Kim Jong Un

North Korean leader Kim Jong Un restated he has no desire for diplomacy with South Korea and that the North would annihilate its rival if provoked, state media said Friday, in the latest of his belligerent statements that are raising tensions in the region. During a visit to North Korea's Defence Ministry on Thursday, Kim said his recent moves to cut ties with South Korea allow his military to take on a more aggressive posture by securing lawfulness to strike and destroy (the South) whenever triggered." Tensions on the Korean Peninsula have increased in recent months, with Kim elevating his weapons demonstrations and threats and the United States, South Korea and Japan strengthening their combined military exercises in response. While most South Korean officials and experts have downplayed the possibility that Kim has real intent to engage in a war, concerns about a direct military provocation have grown as the North may try to ramp up pressure in an election year in South Korea and

North Korea scraps all economic cooperation with South Korea: Report

The project was suspended in 2008 after a South Korean tourist who strayed into a restricted zone was shot and killed by North Korean guards

Number of N Korean defectors to S Korea tripled in 2023, says Seoul

The number of North Korean defectors entering South Korea nearly tripled in 2023 compared to the previous two years, including a higher number of youth and elite, CNN reported

S Korean Oppn leader released from hospital a week after being stabbed

South Korea's main opposition leader expressed hopes for an end of politics of hatred, as he left a hospital Wednesday about a week after he was stabbed in the neck by a knife-wielding man who approached while asking for his autograph. The suspect's motive isn't known, but he told police that he attempted to kill Lee Jae-myung, leader of the liberal Democratic Party. The shocking assault came as political strife was deepening in South Korea ahead of its parliamentary elections in April. Our respected and dear citizens, I feel sorry for causing concerns for you and I'd like to say thank you. Our people saved me, Lee said in front of Seoul National University Hospital, as his supporters shouted his name. Lee said he hopes the attack will serve as a chance to end politics of hatred and politics of confrontation and return to politics of mutual respect and co-existence. The attack, which happened during his visit to the southeastern city of Busan on Jan. 2, left Lee, 59, bleeding and .

S Korean Oppn leader recovering well from surgery after stabbing attack

South Korea's main opposition leader is recovering well from surgery after being stabbed in the neck earlier this week, his doctor said Thursday, as police seek a formal arrest warrant to extend the suspect's custody. Lee Jae-myung, head of the liberal Democratic Party, South Korea's biggest political party, was stabbed by a knife-wielding man who approached him asking for his autograph at an event in the southeastern city of Busan on Tuesday. The man was immediately detained by police. The assault left Lee, 59, bleeding and slumped on the ground. After emergency treatment, he was flown to a Seoul hospital for an operation that lasted about 100 minutes. After the surgery, Lee was placed an an intensive care unit at Seoul National University Hospital and then transferred to an ordinary ward on Wednesday evening, according to party officials. In his first briefing since the surgery, Min Seung-kee, a vascular surgeon at the hospital who performed the operation, said Thursday that Lee i

In threatening shift, North Korea moves to redefine relations with South

Since the 1950-53 Korean War ended in a stalemate, both nations have had policies that treat each other differently than other countries

S Korea orders Japanese cos to compensate wartime workers for forced labour

South Korea's top court ordered two Japanese companies to financially compensate more of their wartime Korean workers for forced labor, as it sided Thursday with its contentious 2018 verdicts that caused a huge setback in relations between the two countries. But observers say Thursday's ruling won't likely hurt bilateral ties much since Seoul and Tokyo, now governed by different leaders, are pushing hard to bolster their partnerships in the face of shared challenges like North Korea's evolving nuclear threats and China's increasing assertiveness. The Supreme Court ruled that Mitsubishi Heavy Industries must provide between 100 million and 150 million won ($76,700 and $115,000) in compensation to each of four plaintiffs bereaved families of its former employees who were forced to work for the company during Japan's 1910-45 colonial rule of the Korean Peninsula. The court also said Nippon Steel Corp. must give 100 million won (about $76,700) to each of seven Korean plaintiffs for ...

S Korea, India to strengthen ties to diversify supply chain away from China

South Korea plans on strengthening cooperation with India as Seoul attempts to align with a US-led push to diversify the global supply chain away from China

South Korean President Yoon's approval rating rises to 40.4% after 6 weeks

In the poll of 2,504 adults conducted by Realmeter from February 13-17, the positive assessment of Yoon's performance rose 3.5 percentage points from a week earlier to 40.4 per cent

Inflation in South Korea rises to 24-yr high amid soaring energy costs

South Korea's consumer prices rose at the fastest clip in nearly 24 years in June, mainly due to soaring energy costs, government data revealed on Tuesday

S Korea's January factory activity grows at fastest pace in 6 months: PMI

A sub-index on job growth showed employment expanded for a second successive month in January.

South Korea's instant meals market skyrockets 145% over 4 years

The South Korean instant meals market jumped more than 145 per cent in 2020 from four years earlier on the increased number of convenience stores and the coronavirus pandemic

South Korea exports post $644.5 billion, hitting all-time high in 2021

With the strong sales of major industries and growth of new industries, South Korea's exports posted $644.5 billion, the highest ever, in 2021

S Korea factory activity quickens but output, export orders shrink: PMI

Activity in South Korea's factories expanded at the fastest pace in three months in December but the economy struggled to gather momentum

S. Korea's economy expected to rank 10th largest for 3 straight yrs: IMF

South Korea's economy is projected to continue to rank the 10th largest for three straight years in 2022 in terms of nominal GDP, data from the International Monetary Fund have showed

South Korea to prepare $3.6 bn Covid stimulus package for small businesses

Of the total package, some 3.2 trillion won would be allocated to provide 1 million won each to 3.2 million small business owners that experienced a decrease in sales.

South Korea central bank sees inflation standing above 2% target for longer

Consumer inflation accelerated to a decade-high of 3.7% in November from a year earlier, while core CPI, which excludes volatile food and fuel, rose to 1.9%

South Korea's first quarter economic growth faster than expected at 1.7%

South Korea's economy grew slightly faster than expected, thanks to a robust recovery of exports and facility investment, inching the nation's economic growth closer to the pre-pandemic level

South Korean tanker held by Iran over money dispute now on the move

A South Korean oil tanker held for months by Iran amid a dispute over billions of dollars held in Seoul was leaving Iran early Friday