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Political parties tentatively agree on taxes on digital assets in 2029

The ruling and opposition parties have tentatively agreed on introducing taxes on digital assets in 2029, a ruling party lawmaker said Wednesday, as the government seeks to delay such taxes by two years. Rep. Oh Gi-hyoung of the ruling Democratic Party of Korea told reporters that a subcommittee of the National Assembly's finance and economy committee that includes lawmakers from the main opposition People Power Party has reached a consensus on delaying taxes on digital assets. Oh said the parliamentary subcommittee has discussed some procedural matters on the government's plan, hinting that the relevant bill could be approved. Last week, Finance Minister Lee Hyoung-il said the government will seek to delay a planned tax on digital assets by two years, from 2027 to 2029.

1h agoBy Yonhap
Political parties tentatively agree on taxes on digital assets in 2029

Busan tests sea taxi service linking major coastal attractions

Busan is testing a new sea taxi service that could offer residents and tourists a faster, more scenic way to travel between the southeastern port city's popular coastal destinations while avoiding road traffic. Busan Metropolitan City conducted two trial runs of its planned Busan Sea Taxi service on Wednesday, inviting 16 local journalists to experience a 45-minute route connecting the Suyeong River, Gwangalli and Haeundae beaches. Boats departed from APEC Naru Park at 10:30 a.m. and 2 p.m., following a route divided into three 15-minute sections before returning to the river. The service is intended to serve both as an alternative mode of transportation and a tourism attraction, offering passengers views of Busan's coastline while connecting districts that frequently experience traffic congestion. Under the plan, at least six environmentally friendly vessels, each with a capacity of fewer than 50 passengers, will operate along the route, supported by three boarding facilities on the Suyeong River, at Gwangalli and in Haeundae. The city plans to invest 1.4 billion won ($960,000) in boardi

7h agoBy Lee Kyung-min
Busan tests sea taxi service linking major coastal attractions

HD Construction Equipment, veterans ministry unveil Korean War memorial in Ethiopia

HD Construction Equipment has joined hands with the Ministry of Patriots and Veterans Affairs to honor Ethiopian soldiers who fought and died during the 1950-53 Korean War, unveiling a memorial wall bearing their names at Holy Trinity Cathedral in Addis Ababa, Ethiopia. The company said it held a ceremony to dedicate the memorial wall at the cathedral on Wednesday, coinciding with the International Memorial Day for U.N. Korean War Veterans. The event was attended by HD Construction Equipment CEO Moon Jae-young, Veterans Minister Kwon Oh-eul, Korean Ambassador to Ethiopia Koo Hong-seok, Ethiopian defense officials and Korean War veterans and their families. HD Construction Equipment and the veterans ministry signed a memorandum of understanding in May to establish memorial facilities in countries that sent troops to support Korea under U.N. Command. Ethiopia was selected as the first site, with HD Construction Equipment covering the full cost of construction. The wall features individual plaques inscribed with the names of the 122 fallen soldiers, as well as messages of gratitude and reme

7h agoBy Lee Gyu-lee
HD Construction Equipment, veterans ministry unveil Korean War memorial in Ethiopia

Korea climbs 8 spots to rank 10th in global digital, AI competitiveness

Korea jumped eight places to rank 10th out of 70 nations in the 2026 World Digital and AI Competitiveness Ranking (WDAIR), published Wednesday by the International Institute for Management Development (IMD) — the prestigious Swiss business school known for its benchmark global competitiveness evaluations. Among nations with populations exceeding 20 million, Korea secured fourth place, trailing only the United States, Canada and China. The Ministry of Science and ICT announced that Korea achieved comprehensive improvements across all five evaluated categories: Governance, Technological Infrastructure, Efficiency, Human Resources Development and Societal Attitudes & Values. Notably, Korea jumped 10 places to rank third globally in Efficiency and climbed four spots to third in Technological Infrastructure. Korea demonstrated unmatched leadership in government execution and technological foundation, claiming the top spot worldwide in both the Government Core Systems Index and total research and development (R&D) expenditure as a percentage of gross domestic product. The nation also mainta

10h agoBy Lee Kyung-min
Korea climbs 8 spots to rank 10th in global digital, AI competitiveness

Financial Security Institute reports data leak following hacking attack

Korea's state-run Financial Security Institute (FSI) reported a data leak following a hacking attack targeting its security assessment system, officials said Tuesday. The FSI, which oversees financial information provided by banks and insurers, detected the breach the previous day, according to financial authorities. The leaked information reportedly came from the FSI's website used to conduct security assessments of financial institutions. Officials said some information related to the security status submitted by financial firms may have been compromised in the breach.

1d agoBy Yonhap
Financial Security Institute reports data leak following hacking attack

Abandoned schools become community lifelines as towns battle population decline

Declining birth rates and rapid rural depopulation across Korea have left hundreds of neighborhood schools standing empty, silent monuments to a shifting demographic landscape. But instead of leaving these idle facilities to decay into local eyesores, regional authorities are increasingly turning closed campuses into vital community lifelines. The Ministry of the Interior and Safety and the Ministry of Education on Monday jointly announced the winners of the government's inaugural contest recognizing outstanding repurposing of abandoned schools. Out of 62 submissions nationwide, seven projects were selected for financial grants and national recognition, highlighting how creative adaptive reuse can help rural communities combat population decline while offering urban centers new cultural infrastructure. The top award, the Prime Minister’s Award, went to the Tongyeong Board of Education in South Gyeongsang Province for converting the former Yongho Branch of Hansan Elementary School into a public cat protection and adoption center. Originally proposed by island residents, the project tr

2d agoBy Lee Kyung-min
Abandoned schools become community lifelines as towns battle population decline

Seoul adds downtown crosswalks to free pedestrians from underground tunnels

Navigating central Seoul on foot is getting easier as the city rolls out street-level crosswalks at major intersections, phasing out the labyrinth of underground passages and lengthy detours long forced upon pedestrians. The Seoul Metropolitan Government said Monday that it has completed new crosswalk installations at Cheonggye 6-ga and Mugyo-dong intersection, while another is being built near Seoul Station, with opening targeted for the end of November. At Cheonggye 6-ga, the installation ends a nearly 20-year wait for a street-level crossing. Requests for the crosswalk date to 2006 but faced delays over concerns about the impact on underground shopping areas and nearby cultural heritage sites. The city reached an agreement in December 2023 following mediation by the Anti-Corruption and Civil Rights Commission, involving the Seoul Metropolitan Government, Seoul Metropolitan Police Agency, Seoul Facilities Corp. and three merchants' associations. Construction was completed in October, allowing pedestrians to cross the eight- to 10-lane Jangchungdan-ro without relying exclusively on under

2d agoBy Lee Kyung-min
Seoul adds downtown crosswalks to free pedestrians from underground tunnels

Busan to host world port cities summit next year following Dunkirk

Busan will become the meeting point for port cities around the world next year, taking over from the French city of Dunkirk as host of a major international conference focused on the future of urban waterfronts and maritime industries. Busan Metropolitan City announced Monday that it had officially secured the hosting role for the 22nd World Conference Cities & Ports during the closing ceremony of the 21st conference in Dunkirk on Friday (local time). The 2027 gathering will take place Nov. 2-5 at the Busan Exhibition and Convention Center (BEXCO), bringing together about 1,000 participants from 50 countries, including local government officials, port authorities, industry representatives and experts. At the closing ceremony, Busan Vice Mayor for Economic Affairs Oh Seok-geun introduced the city's development and the growth of Busan Port, which marks its 150th anniversary this year and ranks as the world's second-largest transshipment port. He also outlined major projects, including the redevelopment of North Port and efforts to establish infrastructure for supplying environmentally frie

2d agoBy Lee Kyung-min
Busan to host world port cities summit next year following Dunkirk

Seoul selects 10 hidden night spots to revive local businesses

Seoul is looking beyond its famous landmarks to brighten overlooked corners of the city, betting that better nighttime attractions can draw visitors into neighborhood streets and give local businesses a boost. The Seoul Metropolitan Government has selected 10 locations for its 2026 Seoul Starlight Attractions project, which will transform underused parks, streams, walking paths and historic districts into destinations for evening recreation and sightseeing. The initiative aims to do more than install decorative lighting, encouraging visitors to stay longer, enjoy cultural activities and spend money at nearby restaurants, cafes and traditional markets. Among the selected sites is Heukseok Waterfront Trail in Dongjak District, where the area beneath an Olympic Expressway bridge will be redesigned with media art, landscape lighting, accessible walking paths, a running track and riverside seating overlooking the Han River and Nodeul Island. In western Seoul’s Seodaemun District, the local government will transform the Baramsan hill area of Changcheon Neighborhood Park into a night-view gar

Nov 3, 2026By Lee Kyung-min
Seoul selects 10 hidden night spots to revive local businesses

Congolese community in Korea elects new leadership

Congolese professionals and academics in Korea have elected a new leadership team, seeking to strengthen ties within their diaspora community and expand cooperation with Korean institutions. The Dynamic of the Congolese Elite in Korea, known in French as Dynamique de l'Élite Congolaise en Corée du Sud, held an extraordinary and elective general assembly, bringing together members of the Congolese academic and professional community. The meeting opened under the leadership of Eloi Fataki, vice president of the General Assembly, followed by a presentation by professor Merlec Mpyana, who reviewed the organization's history and its mission to unite and empower Congolese intellectuals and professionals in Korea. Reagan Ingoma, the outgoing president of the Executive Bureau, presented the organization's 2025-2026 activity report, outlining achievements, challenges and key developments during his tenure. Members also welcomed new participants before proceeding to the election of the next executive committee. Frigeant Bahuma was elected president, with Tyno Bashizim named vice president. Chon M

Nov 3, 2026By Lee Kyung-min
Congolese community in Korea elects new leadership
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