SEOUL, Nov. 29 (Korea Bizwire) — Police said Friday they have closed an investigation into sexual misconduct allegations raised against a former member of K-pop boy band F.T. Island without filing charges due to a lack of evidence. Choi Min-hwan, a former drummer for the band, was suspected of engaging in prostitution and sexually harassing [...]
SEOUL, Nov. 29 (Korea Bizwire) — The NC Dinos announced Friday they will bring back the reigning South Korean home run king Matt Davidson. The Dinos said Davidson signed for up to US$1.5 million, with $300,000 available in incentives, for the 2025 Korea Baseball Organization (KBO) season, and the club has an option for a [...]
SEOUL, Nov. 29 (Korea Bizwire) — ADOR, the agency behind K-pop girl group NewJeans, confirmed Friday that the group’s contract remains valid until July 31, 2029, a day after the group announced a decision to leave over a dispute between the label and its creator. ADOR, a sub-label of Hybe, said it will continue fulfilling [...]
SEOUL, Nov. 29 (Korea Bizwire) – Lotte Group announced a sweeping set of initiatives on November 28 to address liquidity concerns and improve financial stability. The measures include revaluing land assets, divesting underperforming properties, and scaling back investments. As part of its strategy, Lotte is also considering exiting poorly performing overseas duty-free locations. During an [...]
SEOUL, Nov. 29 (Korea Bizwire) – Incheon city announced on Thursday that over 17,100 pregnant women have applied for its transportation subsidy program since its launch in April. The initiative provides ₩500,000 in transportation assistance per eligible applicant, allocated via Incheon’s local currency platform, “Incheon e-Eum.” The city initially set aside ₩5 billion for 12,500 women [...]
SEOUL, Nov. 29 (Korea Bizwire) – For years, private equity funds (PEFs) were synonymous in South Korea with “predatory capital” and “corporate raiders,” drawing criticism for prioritizing short-term profits over corporate health. The perception stemmed from practices such as aggressive cost-cutting, asset sales, and layoffs, which were viewed as tactics to maximize returns at the [...]
SEOUL, Nov. 28 (Korea Bizwire) –Starbucks Korea announced on Wednesday that it will officially launch its new subscription service, Buddy Pass, on December 2 to mark its 25th anniversary. This move comes as the coffee chain faces growing challenges to maintain its once-dominant appeal in South Korea, despite expanding its retail channels, including a scenic [...]
SEOUL, Nov. 28 (Korea Bizwire) — Some North Korean defectors who were repatriated from China last year were sent to prison camps in North Korea for being exposed to Christianity, which the regime regards as a threat to its leadership, a report showed Thursday. Aid to the Church in Need (ACN), an international Catholic pastoral [...]
SEOUL, Nov. 28 (Korea Bizwire) – A new report suggests the ASEAN semiconductor industry, traditionally strong in chip packaging, is poised for continued growth as global firms seek to diversify supply chains beyond China amid ongoing U.S.-China competition in the semiconductor sector. The International Trade Research Institute at the Korea International Trade Association reported on November [...]
SEOUL, Nov. 28 (Korea Bizwire) — The LG Twins announced Thursday they will bring back first baseman Austin Dean and right-hander Elieser Hernandez. Dean agreed to a new one-year deal worth up to US$1.7 million, with a guaranteed salary of $1.2 million, a signing bonus of $300,000 and another $200,000 up for grabs in incentives. [...]