SEOUL, March 11 (Korea Bizwire) — As South Korea’s revised tax law imposes income tax on employee discounts starting in 2025, major corporations are stepping in to offset the financial impact on their workers. Samsung Electronics announced on March 10 through its internal Family Net platform that the company plans to cover the tax burden [...]
SEOUL, March 11 (Korea Bizwire) — South Korea’s leading petrochemical companies are bracing for potential credit rating downgrades in the first half of 2025 as financial indicators continue to deteriorate due to a prolonged industry slump. The growing concerns come in the wake of Homeplus’ restructuring following a credit rating downgrade, raising alarms over broader [...]
SEOUL, March 11 (Korea Bizwire) — South Korea’s restaurant industry is experiencing its most severe downturn since the pandemic, with business sentiment falling to levels last seen during COVID-19 social distancing measures, according to government data released on March 9. The Restaurant Industry Business Survey Index dropped to 71.52 in the fourth quarter of 2024, down 4.52 [...]
SEOUL, March 11 (Korea Bizwire) — One in six South Korean students is obese, and half of these obese students show at least one risk factor for metabolic syndrome, including diabetes or hypertension, according to a comprehensive new study. The research also revealed that 20% of obese students are prediabetic. The National Health Insurance Service Research Institute’s [...]
SEOUL, March 10 (Korea Bizwire) — At Mobile World Congress (MWC) 2025, LG Uplus announced a partnership with Google’s Gemini AI, marking the final piece of South Korea’s major telecom companies unveiling their strategic AI alliances. With this move, SK Telecom has aligned with Anthropic and Perplexity, KT has partnered with Microsoft, and LG Uplus [...]
SEOUL, March 10 (Korea Bizwire) — South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate by introducing expanded family-friendly policies, including enhanced parental leave, financial incentives for childbirth, and workplace childcare support. According to industry sources on Sunday, Kakao Healthcare has begun offering free continuous glucose [...]
SEOUL, March 10 (Korea Bizwire) — Leading South Korean electronics component manufacturers are bouncing back from the global IT slowdown by focusing on high-value products driven by artificial intelligence (AI) technology. LG Innotek and Samsung Electro-Mechanics, which achieved record sales last year despite profitability challenges, are now poised for a significant turnaround. According to market consensus [...]
SEJONG, March 10 (Korea Bizwire) — Financial authorities in South Korea have announced new measures to encourage domestic investment and support the won’s value, including raising the mandatory domestic stock investment ratio for specialized Individual Savings Accounts (ISA) and lifting restrictions on won-denominated “Kimchi bonds”. The Ministry of Economy and Finance, Financial Services Commission, Bank of [...]
SEOUL, March 10 (Korea Bizwire) — Washing machine and dryer sets of LG Electronics Inc. and Samsung Electronics Co. have received top ratings in a recent U.S. consumer performance study. LG Electronics’ washer and dryer set was ranked No. 1 in both the front-load and high-efficiency (HE) top-load categories in the Best Matching Washer and [...]
SEOUL, March 10 (Korea Bizwire) — North Korea on Monday urged Japan to investigate and apologize to Korean victims killed in the U.S. firebombing of Tokyo in 1945, near the end of World War II, a day before Japan is set to mourn the victims of the devastating air raid. The demand was issued by [...]