SEOUL, Nov. 5 (Korea Bizwire) — South Korea’s top financial regulator vowed Wednesday to reconsider compensation standards for investors in the so-called Belgian Fund scandal if evidence of mis-selling is confirmed, as part of a broader push to strengthen consumer protection in the financial sector. Lee Chan-jin, governor of the Financial Supervisory Service (FSS), made the [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea on Wednesday launched a new alliance of major corporations aimed at building a domestic quantum technology ecosystem, underscoring the government’s push to position the country at the forefront of a field seen as the next frontier in computing and national security. The alliance brings together 34 leading companies, [...]
SEOUL, Nov. 5 (Korea Bizwire) – The number of South Koreans that remain economically inactive rose from a year earlier in 2025, amid a steady increase in the number of people who say they have no particular reason for not working, government data showed Wednesday. A total of 16.22 million individuals had remained economically inactive [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea plans to invest more than 900 billion won, or about $622 million, over the next seven years to develop advanced medical devices that officials described as “game-changing,” the Ministry of Trade, Industry and Resources said Wednesday. Under the initiative, which runs from 2025 through 2030, the government will [...]
SEOUL, Nov. 5 (Korea Bizwire) — Defense Minister Ahn Gyu-back signaled support on Wednesday for constructing South Korea’s first nuclear-powered submarine at a domestic shipyard, arguing that the nation’s decades of shipbuilding expertise make it capable of managing such an ambitious defense project. The comments come amid Seoul’s accelerating pursuit of a nuclear-powered submarine fleet—a capability [...]
DAEJEON, Nov. 5 (Korea Bizwire) — More than 100 South Korean teenagers voluntarily confessed to online gambling and sought help through a police-led rehabilitation program in Daejeon over the past year, according to police data released Tuesday. The Daejeon Metropolitan Police Agency said that between November last year and October this year, 109 students — including [...]
SEOUL, Nov. 5 (Korea Bizwire) — As the South Korean government tightens oversight of new weight-loss drugs such as Wegovy and Mounjaro to curb misuse, some users are sidestepping domestic restrictions by traveling to Japan for easier access. Despite recent price stabilization in the domestic market, a growing number of South Koreans are turning to Japanese [...]
SEOUL, Nov. 5 (Korea Bizwire) — The next wave of obesity treatments is expected to center on multi-action drugs and oral formulations, according to a new report by global pharmaceutical research firm IQVIA, as drugmakers race to overcome the limitations of current blockbusters such as Novo Nordisk’s Wegovy and Eli Lilly’s Mounjaro. The two companies currently [...]
SEOUL, Nov. 5 (Korea Bizwire) — LG Electronics said Tuesday it has signed a memorandum of understanding with global infrastructure solutions provider Flex to jointly develop modular cooling systems designed to address the growing heat challenges of artificial intelligence (AI) data centers. Under the partnership, LG will combine its high-efficiency cooling technologies — including chillers, cooling [...]
SEOUL, Nov. 5 (Korea Bizwire) — Xiaomi announced Tuesday that it will launch a special discount event for its flagship smartphone, the Xiaomi 15 Ultra, after Chinese President Xi Jinping presented the device to South Korean President Lee Jae-myung during their recent summit. Xiaomi Korea said it was “honored” that one of its latest flagship models [...]