SEOUL, Sept. 17 (Korea Bizwire) —South Korea’s foreign minister on Friday sought to draw a fine line between the country’s massive investment commitments in the United States and the fallout from a U.S. immigration raid that detained hundreds of Korean workers, saying the visa dispute is not a formal condition for the projects but will [...]
SEOUL, Sept. 19 (Korea Bizwire) — Industry Minister Kim Jung-kwan said Friday the government will introduce a new export guarantee program worth around 400 billion won (US$290 million) for the steel industry faced with steep tariffs from the United States. Kim made the remarks during a meeting with top executives of major steel companies, including [...]
SEOUL, Sept. 19 (Korea Bizwire) — POSCO International Corp., the trading arm of POSCO Group, said Friday it has signed an initial agreement with U.S.-based ReElement Technologies Corp. to strengthen its rare earth supply chains. ReElement, a subsidiary of American Resources Corp., and POSCO International also agreed to explore cooperation in establishing an integrated rare [...]
GOYANG, South Korea, Sept. 19 (Korea Bizwire) — A South Korean court has ruled that members of a virtual idol group are entitled to damages over defamatory online comments, marking a significant precedent in how the law treats avatars in the digital age. On May 17, the Uijeongbu District Court’s Goyang branch ordered an individual, [...]
UIJEONGBU, South Korea, Sept. 19 (Korea Bizwire) – Migrant workers in South Korea without bank accounts will now be able to receive workplace injury compensation in cash, following a policy shift by the Ministry of Employment and Labor. The ministry adopted the change earlier this month after a recommendation from Gyeonggi Province, officials said Thursday. [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korean civic groups have accused two leading food delivery platforms of unfair and misleading practices tied to their popular “one-person meal” promotions, filing complaints with the Fair Trade Commission (FTC). On Thursday, People’s Solidarity for Participatory Democracy, Lawyers for a Democratic Society (Minbyun), and the Korea Consumer Federation [...]
SEOUL, Sept. 19 (Korea Bizwire) — A government-backed consumer coupon program has driven a notable increase in sales at South Korea’s smallest merchants while also lifting household spending among shop owners, Shinhan Card said Thursday. An analysis by the company’s Big Data Research Center found that after the rollout of the “livelihood recovery consumer coupons,” [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s biggest business families stand to see their dividend tax bills fall by more than 12 percent under the government’s new tax reform, which grants breaks to shareholders of companies classified as “high-dividend.” According to a study released Wednesday by corporate research firm CEO Score, 87 out of [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s antitrust regulator on Thursday conditionally approved a joint venture between Shinsegae Group’s Gmarket and Alibaba’s AliExpress Korea, clearing the way for a new challenger to disrupt a market long dominated by Coupang and Naver. The tie-up, structured as a 50:50 joint company under Grand Opus Holding, will [...]
SEOUL, Sept. 18 (Korea Bizwire) — The U.S. Federal Reserve’s decision to lower its benchmark interest rate for the first time under President Donald Trump is fueling cautious optimism in Seoul’s financial markets, with analysts predicting improved liquidity and renewed foreign inflows — but also warning of lingering risks tied to trade negotiations. On Wednesday [...]