SEOUL, Jan. 10 (Korea Bizwire) — A South Korean court has awarded partial compensation to repatriated fishermen who were unlawfully detained, tortured, and falsely accused of espionage after being abducted by North Korea decades ago. However, the damages granted fell significantly short of the amounts sought by the plaintiffs, prompting frustration and plans for an [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a stark reversal of fortune, South Korea’s leading battery manufacturers are bracing for significant fourth-quarter losses as the electric vehicle market faces a prolonged period of stagnating demand. LG Energy Solution, one of the country’s top battery makers, reported an operating loss of 225.5 billion won in the fourth [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a significant healthcare reform initiative, the South Korean government announced plans to reclassify certain non-critical and uninsured medical treatments, including manual therapy, under a new “managed care” category that will require patients to pay over 90% of the costs. The policy change, unveiled at a public forum on healthcare [...]
Cority continues to be a top-tier provider, demonstrating excellence across all 19 capabilities TORONTO, Jan. 9 (Korea Bizwire) – Cority, the global leader in enterprise Environmental, Health, and Safety (EHS) and Sustainability software solutions, has been distinguished as a leader for the sixth time in the latest Green Quadrant for EHS Software report from Independent Analyst Firm, Verdantix. [...]
MONACO, Jan. 9 (Korea Bizwire) — Yacht Club de Monaco starts 2025 with renewed vigour. True to its public service remit, this private club continues its mission to make Monaco a world reference for yachting, by combining innovation, excellence and sustainability. In reaffirming its determination to build a future that respects the oceans, its ambition [...]
SEOUL, Jan. 9 (Korea Bizwire) — The number of corrective orders issued for pornographic and prostitution-related content on random chat applications reached an all-time high in 2024, according to newly released government data. Representative Han Min-soo of the Democratic Party, a member of the National Assembly’s Science, Technology, Information Broadcasting and Communications Committee, reported on January [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea plans to release a record amount of agricultural products into the market to stabilize prices and ease the financial burden on people ahead of the Lunar New Year, the government said Thursday. Under the plan, the government will release 265,000 tons of 16 major agricultural items, including [...]
SEOUL, Jan. 9 (Korea Bizwire) — In response to recent revelations that several clothing brands misrepresented the down filling ratios in their winter jackets, fashion platforms and apparel companies in Korea are strengthening their quality control measures. Industry experts are calling for stricter policies, including a “one-strike-out” system that would immediately suspend or remove vendors caught [...]
SEOUL, Jan. 9 (Korea Bizwire) — KT Corp., a major South Korean telecommunications company, said Thursday it will join hands with defense firm LIG Co. Nex1 to develop propriety technologies for homegrown low Earth orbit (LEO) satellites. The two companies signed a memorandum of understanding to jointly develop core technologies for LEO satellites, including a [...]
SEJONG, Jan. 9 (Korea Bizwire) — Hyundai Steel, a key affiliate of Hyundai Motor Group, is reportedly exploring plans to build a large steel mill in the United States. The move comes as U.S. President-elect Donald Trump signals heightened protectionist trade policies, urging foreign companies to manufacture within the U.S. to access its market. Potential [...]