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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Health ministry unveils trillion-won investment blitz to secure biohealth dominance

Seeking to transform a record-breaking export surge into a permanent pillar of the national economy, the Ministry of Health and Welfare unveiled Tuesday a trillion-won investment into its biohealth sector, anchored by a new state-backed fund designed to push local drugmakers through the riskiest stages of global development. The plan centers on a 1.1 trillion won ($750 million) allocation for national health care research and a specialized 150 billion won fund dedicated to Phase 3 clinical trials — the prohibitively expensive "final mile" that has long stymied the country's midsized biotech firms. Coming on the heels of a record $27.9 billion in exports last year across the pharmaceutical, medical device and cosmetic industries, the measures signal Seoul’s intent to pivot from a manufacturer of components to a global powerhouse in original drug innovation. With the aim of raising exports to $30.4 billion this year, up 9.1 percent from 2025, the health ministry will invest 233.8 billion won — 3.5 times more than last year — to support Korean companies’ expansion into global ma

Mar 3, 2026By Park Ung
Health ministry unveils trillion-won investment blitz to secure biohealth dominance

Legal loophole allows fans to camp for BTS concert at Gwanghwamun

Seoul Metropolitan Government is bracing for a massive encampment of ticketless BTS fans at Gwanghwamun Square, hampered by legal limitations that prevent police from forcibly clearing the area. The global K-pop act is scheduled to hold a free concert, "BTS The Comeback Live — Arirang," on March 21. With all 15,000 tickets selling out immediately upon release on Feb. 23 and nearby hotels fully booked, some fans, known as ARMY, are coordinating online to pitch tents in the square a day before the show to secure prime viewing spots. Under current Korean law, authorities cannot legally prevent individuals from occupying public spaces like sidewalks if their sole purpose is waiting for an event, provided they do not block roadways. Because waiting does not constitute an illegal assembly, law enforcement is restricted to basic crowd control rather than forced dispersal. "Although we can impose a fine for unauthorized occupation, there is no basis unless it is an illegal act or a case that causes damage to other pedestrians," a city official said. "We can only maintain basic order and guide

Mar 3, 2026By Hankookilbo
Legal loophole allows fans to camp for BTS concert at Gwanghwamun

Visa rejections for overseas students expose cracks in Korea's rural rescue plan

A string of visa denials preventing about 45 overseas students from enrolling at a vocational high school in South Jeolla Province has cast a harsh light on structural weaknesses in Korea’s system for admitting international students to secondary schools. As the government increasingly casts the retention of international students as a remedy for demographic and economic stagnation outside major cities, calls are mounting for more coordinated policies linking immigration and education authorities. Jeonnam Mirae International High School in Gangjin, South Jeolla Province, is set to open on March 9 with only six students, after the Ministry of Justice denied visas for incoming international students, barring them from entering the country. The school had drawn attention as the nation’s first alternative vocational high school designed for integrated students from migrant backgrounds and overseas recruits. According to the Jeollanamdo Office of Education, the school was expecting 45 overseas students from four countries — 13 from Vietnam, 15 from Mongolia, nine from Kazakhstan and eig

Mar 2, 2026By Jung Da-hyun
Visa rejections for overseas students expose cracks in Korea's rural rescue plan

‘The King’s Warden’ nears 10 million viewers as filming sites overflow with tourists

South Korea’s historical film “The King’s Warden” has surpassed 8 million viewers and is driving a tourism surge at real-world locations tied to the story of the exiled king Danjong. Authorities in Yeongwol County, Gangwon Province announced early closing measures at Cheongnyeongpo, the riverside exile site depicted in the film, after visitor numbers surged dramatically. Officials warned that entry may be restricted for arrivals after 4 p.m. due to crowding and advised tourists to consider nearby attractions. Cheongnyeongpo, historically known as the remote place where the 15th century king Danjong was banished, is surrounded by river on three sides and mountains on the fourth, accessible only by boat. The isolated geography is symbolic of the young monarch’s tragic fate. Yeongwol mayor Choi Myeong-seo said during a recent radio interview that visitors to Cheongnyeongpo increased more than fivefold year-on-year during the Lunar New Year holiday, with noticeable growth among young travelers and families. Participation in cultural interpretation programs and average stay times a

Mar 2, 2026By Xportsnews
‘The King’s Warden’ nears 10 million viewers as filming sites overflow with tourists

National pension recipients likely to surpass 8 mil. this year amid aging population

The number of recipients of the national pension program is likely to surpass 8 million this year, the National Pension Service said (NPS) Monday, amid the country's rapidly aging population. The NPS expects the number of such recipients to reach the milestone mid-this year for the first time since the fund's introduction in 1988, after hitting 7.83 million in November. "It is not certain whether it will be in the first half of the year or in the summer but (we) expect the number of recipients to surpass 8 million this year," an NPS official said. The number of national pension recipients is likely to grow faster than expected as the country grapples with rapid population aging and a low birth rate. In 2022, a National Pension Research Institute report forecast the number of recipients would reach 7.99 million this year. Korea has been classified as a "super-aged" society since 2024, when more than 20 percent of its 51 million population became 65 or older.

Mar 2, 2026By Yonhap
National pension recipients likely to surpass 8 mil. this year amid aging population

1 in 4 households runs deficit in Q4, highest in 6 years

One in four Korean households spent more than their disposable income in the fourth quarter, pushing the share of deficit-running households to the highest level in six years, government data showed Monday. The ratio came to 25 percent for the October-December period, the highest since the fourth quarter of 2019, when it stood at 26.2 percent, according to the data from the Ministry of Data and Statistics. A deficit household refers to one whose consumption spending exceeds its disposable income. Market analysts said prolonged high inflation has again strained household finances, with spending rising faster than income. They noted that deficit-running households may lack surplus funds for investment, potentially missing out on gains in asset values despite a recent rally in the stock market. A government official cautioned, however, that the fourth-quarter increase may have been influenced by temporary factors, including higher expenditure on durable goods and seasonal spending related to the Chuseok holiday, which fell in October. The proportion of deficit-running households generally ris

Mar 2, 2026By Yonhap
1 in 4 households runs deficit in Q4, highest in 6 years

Subway riders to face penalties for failing to tap out

Starting Saturday, passengers who fail to tap their transportation card when exiting the Seoul Metropolitan Subway will be charged an additional base fare on their next trip, closing a loophole that has allowed some riders to avoid full distance-based fares. Seoul Metro said Sunday the new penalty system, aimed at deterring riders from deliberately skipping the exit tag, will apply across the entire Seoul metropolitan rail network, including lines operated by other agencies such as Korail. In Korea, subway fares are based on entry and exit card taps, with the base fare covering up to 10 kilometers and an additional 100 won charged for every 5 kilometers thereafter. If a passenger fails to tap out, the system cannot verify the distance and no extra fare is added. Under the new system, passengers who fail to tap out will be charged a surcharge equal to the base fare on their next trip — 1,550 won ($1.07) for adults 19 and older, 900 won for adolescents aged 13 to 18, and 550 won for children aged 6 to 12. Since 2004, under the integrated transfer fare system in the Seoul metropolitan are

Mar 1, 2026By Park Ung
Subway riders to face penalties for failing to tap out

Gyeongbok Palace to shut on BTS Gwanghwamun concert day

Gyeongbok Palace will close March 21 when K-pop group BTS stages a concert at Gwanghwamun Square in central Seoul, marking a rare weekend shutdown of the main royal palace of the 1392–1910 Joseon Dynasty. According to the Korea Heritage Service’s Palace and Tombs Center, the palace — located about 230 meters from Gwanghwamun Square — will remain shut for the duration of the Saturday concert, despite its usual schedule of being open on weekends and closed Tuesdays. On March 20, BTS will release its fifth full-length album, “Arirang,” marking its first full-group comeback in three years and nine months. The following evening, the band will hold a live concert at Gwanghwamun Square, streaming worldwide on Netflix in about 190 countries. Several facilities near Gwanghwamun Square have decided to close or are reviewing closures as police estimate up to 260,000 people could gather for the concert. The National Museum of Korean Contemporary History will close March 21, while the Sejong Center for the Performing Arts has canceled or rescheduled several shows, including musicals, play

Mar 1, 2026By Park Ung
Gyeongbok Palace to shut on BTS Gwanghwamun concert day

Why foreigners can vote in Korea’s local elections — and why it’s controversial

South Korea’s local elections are set for June, and foreign residents will once again be eligible to vote. Since 2006, the country has been the only one in Asia to grant foreign residents suffrage in local elections. Nearly two decades have passed since. During that time, the number of ethnic Koreans from China residing in the country has increased, and as relations between Seoul and Beijing have cooled, anti-Chinese sentiment has grown. With that came growing criticism toward voting rights for foreign residents. Political actors began calculating the electoral advantages and disadvantages of the issue. Voices arguing that granting voting rights unilaterally violates the principle of reciprocity have grown louder. "It's nothing more than an election strategy aimed at stirring public votes, when foreign nationals constitute only a very small fraction of the electorate," Yoon Jong-bin, president of the Korean Political Science Association and a professor of political science at Myongji University said in an interview with Hankook Ilbo. “Voting rights for foreign residents is a symbol of

Feb 28, 2026By Hankookilbo
Why foreigners can vote in Korea’s local elections — and why it’s controversial

High costs fail to deter early English education in Korea

For a Seoul mother in her 40s, bypassing public kindergarten for an English-immersion preschool, commonly known as "English kindergartens," was an easy choice for her 6-year-old. At orientation, the director called the three-year program a "gift." Having worked at a foreign company, the mother agreed, believing early immersion justified half-day classes. With more toddlers entering the private tutoring at ever‑younger ages, families’ spending on private education is growing. Yet, in a country known for intense academic pressure, the parents paying these high fees share a surprising consensus. Despite average monthly tuitions reaching 1.54 million won ($1,070), nearly half of Korean parents do not consider English-immersion preschools a financial burden. Parents treat the tuition as an upfront investment to spare children the trauma of learning English through the public school system. A Ministry of Education report obtained Thursday by Rep. Kang Kyung-sook detailed this widespread acceptance. The Korea Institute of Child Care and Education surveyed 13,241 children under 6 between Ju

Feb 28, 2026By Hankookilbo
High costs fail to deter early English education in Korea
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