South Korea

Joongang Ilbo | English | News | Dec. 12, 2025 | North Korea

North Korea's ruling Workers’ Party held an expanded plenary meeting of its 8th Central Committee on December 9, 2025, with leader Kim Jong-un in attendance. The session marked the beginning of a politically significant period leading up to the party's forthcoming ninth congress, expected in January or February 2026. The plenary approved discussing five agenda items, including reviewing the implementation of party and state policies for 2025 and preparations for the congress.

Traditionally held at the year's end, the earlier timing of this plenary suggests a shift in focus toward the upcoming party congress, where Kim is expected to present a new five-year plan and strengthen his authority, possibly by adopting "Kimjongunism" as a guiding ideology and restoring the state presidency. Experts believe the congress will emphasize defining Kim’s political era and solidify the ideological foundation of his long-term rule.

The Rodong Sinmun also revealed the return of Ri Il-hwan, the party’s propaganda secretary, to the leadership podium after nearly a year of absence, indicating his reinstatement. Ri was seated among top officials, including Kim Jong-un and other key leaders. The meeting sets the stage for a critical period in North Korea’s internal political landscape as it gears up for the ninth party congress.

정부, 정유·주유소 업계에 기름값 인상 자제 당부

ET News | Local Language | News | Dec. 12, 2025 | Regulation

The Ministry of Trade, Industry and Energy held a petroleum market inspection meeting on December 10, 2025, with major refiners, discount suppliers, and industry associations. The government urged the refining and gas station industry to refrain from excessive fuel price increases amid a recent upward trend in international petroleum prices.

Domestic petroleum product prices had increased sharply over the past month but stabilized at the start of December. However, international gasoline prices, which influence domestic prices, have turned upward again, rising to $79.4 per barrel in early December after a brief decline.

The ministry requested voluntary cooperation from the industry to avoid sharp price hikes and encouraged discount suppliers to help keep prices stable to reduce public burden. It plans to continue holding inspection meetings as needed and will maintain an inter-ministerial inspection team involving multiple government bodies to oversee the petroleum market.

Additionally, the ministry will upgrade the Opinet mobile app by early 2026 to offer consumers tailored gas station information based on vehicle-specific fuel efficiency, travel metrics, and prices to enhance consumer benefits.

Korea Herald | English | News | Dec. 12, 2025 | UndeterminedTaxes

Korea’s decade-old VAT refund incentive for foreign patients undergoing cosmetic and plastic surgery procedures will end on December 31, 2025. This program, introduced in 2016, allowed foreign medical tourists to reclaim a 10 percent VAT on various aesthetic treatments and has been a significant factor in attracting price-sensitive international patients to Korea. The National Assembly recently excluded the tax refund provision in the latest revision of the Act on Restriction on Special Cases Concerning Taxation, prompting concerns within the medical tourism sector about rising costs and reduced pricing transparency.

The aesthetic medical tourism industry is a major economic contributor, with foreign patient spending rising from about 400 billion won in 2019 to 1.24 trillion won ($840 million) in 2024, with plastic surgery and dermatology accounting for over 77 percent. VAT refunds issued to foreign patients reached a record 95.5 billion won in 2024. However, analysts suggest that the immediate effect of the tax refund removal may be limited due to Korea’s strong international demand, a weak won, and favorable visa policies, alongside high service quality and trust.

Despite short-term resilience, there are growing concerns that Korea’s competitive edge may decline as other countries like Singapore, Thailand, and China enhance their medical tourism offerings. Price sensitivity among Chinese patients, who make up a large share of Korea’s outbound medical tourists, could shift demand to rival destinations. Additionally, experts worry that ending the VAT refund system could reduce pricing transparency and revive issues with illegal brokers and inflated billing, as the refund program had helped mitigate these problems by encouraging price verification.

Medical tourism operators plan to continue lobbying the government for reinstatement of the VAT refund, citing successful industry efforts to restore other tourist-related tax incentives in the past. They emphasize the potential negative impacts of the program's abolition and hope for reconsideration to maintain Korea’s attractiveness as a medical tourism hub.