Proposed Bill: Partial Amendment to the Income Tax Act Proposed by Rep. Lim Kwang-hyun (Democratic Party of Korea) ● To prevent a contraction in the domestic stock market with the implementation of the financial investment income tax in 2025, this amendment proposes increasing the basic deduction for financial investment income tax from 50 million won ($37,200) to 100 million won. Proposed Bill: Partial Amendment to the Distribution Industry Development Act Proposed by Rep. Oh Sae-hee (Democra

President Yoon Suk Yeol's approval rating inched up to 27.9 percent from a week earlier but remained below the 30 percent mark for the second consecutive week, a survey showed Monday. According to the survey by Realmeter and commissioned by a local news outlet, the positive assessment of Yoon's performance rose 2.1 percentage points from the previous week, when it recorded the lowest level in Realmeter surveys since he took office in 2022. The negative assessment of Yoon fell 2.7 perce

The National Assembly is set to kick off its annual inspection of the government and state agencies Monday for a 26-day run. On the first day of the audit, 10 of the Assembly's 17 standing committees will hold inspection hearings to scrutinize the management of the central and regional governments as well as their agencies. The Legislation and Judiciary Committee, the Foreign Affairs and Unification Committee and the Public Administration and Security Committee will be among the 10 committe

President Yoon Suk Yeol began his state visit to the Philippines on Sunday by honoring fallen soldiers who fought in the 1950-53 Korean War and meeting with Korean nationals in the nation. Yoon visited the Korean War Memorial Pylon at the Heroes' Cemetery in Manila with first lady Kim Keon Hee on the first day of his two-day trip focused on strengthening economic and security ties. "South Korea and the Philippines have maintained close, friendly relations, and the Philippines was the first

The wife of President Yoon Suk Yeol could once again take center stage during the yearly National Assembly audit over high-profile allegations that first surfaced late last year that she received a Dior bag during an encounter with a pastor in late 2022. The Democratic Party of Korea has warned it would make “the Dior bag scandal” and other allegations involving first lady Kim Keon Hee the main theme of its audit efforts. The main opposition floor leader Rep. Park Chan-dae said in a

MANILA, The Philippines -- President Yoon Suk Yeol on Sunday arrived in the Philippines for a state visit, as part of a weeklong trip to three Southeast Asian countries that will culminate in the ASEAN summit later this week. Yoon is the first South Korean leader to make a state visit to the Philippines in 13 years. Upon arrival at Manila, the Philippine capital, Yoon attended a wreath-laying ceremony at the Korean War Memorial Pylon at the Heroes' Cemetery in Manila, in memory of the 112 F

The ruling People Power Party on Saturday called for efforts by the opposition-controlled National Assembly to swiftly ratify a new defense cost-sharing deal between South Korea and the United States. Seoul and Washington inked the five-year deal, named the Special Measures Agreement, on Wednesday, about a month before the US presidential election to be held Nov. 5. Under the agreement, South Korea will pay 1.52 trillion won ($1.14 billion) in 2026, up 8.3 percent from the previous year, for the

The three bills blocked by President Yoon Suk Yeol, including one for a special investigation into first lady Kim Keon Hee, were scrapped Friday after failing to get the National Assembly votes required to override Yoon's veto. The bills were voted on for a second time during an afternoon plenary session, but neither got the two-thirds majority support needed to force them through. The bill for a special counsel investigation into the first lady, passed by the Assembly on Sept. 19, is an up

The main opposition Democratic Party of Korea on Friday decided to let its leadership make the final decision on whether to postpone the adoption of the financial investment income tax, which is set to take effect on Jan. 1. The decision made during a general meeting of party lawmakers in the morning, comes as the ruling People Power Party has been calling for the Democratic Party, which currently holds the majority of seats in the 300-member Assembly, to agree on the abolition or a postponement

A group of business leaders, including Samsung Electronics Co. Chairman Lee Jae-yong and Hyundai Motor Group Chairman Euisun Chung, will accompany President Yoon Suk Yeol on his visit to Singapore next week, industry sources said Thursday. Yoon is set to embark on a three-nation trip on Sunday to visit the Philippines, Singapore and Laos to attend the summit of the Association of Southeast Asian Nations and hold bilateral talks, according to his office. In Singapore, Lee is expected to attend a

Yoon to attend ASEAN summit, expected to hold first meeting with Ishiba next week

In a startling revelation, a leaked phone conversation in which a former presidential official urged a YouTube news channel reporter to discredit the current leader of the ruling People Power Party during the party's leadership race has alarmed the conservative bloc in recent days. Voice of Seoul, a far-left YouTube-based news channel, recently uploaded an apparent recording of a phone conversation between Kim Dae-nam, formerly the acting secretary for public communication at the presidenti

Prime Minister Han Duck-soo vowed Thursday to complete a medical reform, saying the reform drive is an essential choice to ensure the safety of people and protect future generations. Han made the remark at a ceremony commemorating National Foundation Day, although the monthslong walkout by trainee doctors against the government's medical reform has showed little signs of progress to resolve the standoff. "We will surely complete essential medical reform to protect the lives and safety

South Korean and US officials on Wednesday expressed strong confidence over the present and future of the two countries' evolving alliance, calling it "ironclad" and "unwavering," as they celebrated the Korean National Day and Armed Forces Day in Washington on Wednesday. Their paean for the decadesold alliance came as Seoul and Washington have been stepping up security cooperation amid a series of regional and global security challenges, including North Korea's evol

New Japanese Prime Minister Shigeru Ishiba plans to have his first summit with South Korean President Yoon Suk Yeol on the margins of annual regional gatherings in Laos next week, Japan's broadcaster NHK reported Thursday. The two leaders will have their first in-person meeting since Ishiba took office on Tuesday, the Japanese public broadcaster said, as both plan to participate in a series of meetings involving the 10-member Association of Southeast Asian Nations (ASEAN) in Laos. The plann