SEOUL, Aug. 25 (Korea Bizwire) — A sweeping change to South Korea’s labor law is already fueling a surge of demands from subcontractor unions, rattling the country’s largest corporations and raising fears of escalating industrial conflict. On August 24, parliament passed the so-called “Yellow Envelope Law,” an amendment to the Trade Union and Labor Relations [...]
SEOUL, Aug. 25 (Korea Bizwire) — South Korea’s state-run postal service has suspended most shipments to the United States after Washington moved to impose customs declarations and duties on all small parcels, raising costs and disrupting cross-border trade. On Monday, the Korea Post stopped accepting low-cost airmail parcels bound for the United States. Beginning Tuesday, [...]
SEOUL, Aug. 25 (Korea Bizwire) — South Korea’s national police said it will expand the mandate of its mobile patrol units, deploying them more aggressively to prevent stalking and other relationship-based crimes, amid ongoing debate over the units’ effectiveness. The Korean National Police Agency announced on August 24 that patrol officers will be concentrated around [...]
SEOUL, Aug. 25(Korea Bizwire) — LG CNS, the IT services arm of South Korea’s LG Group, unveiled a new ecosystem of so-called “agentic artificial intelligence” designed to streamline corporate operations and improve productivity. At a media event in Seoul on Monday, Chief Executive Hyun Shin-gyun introduced AgenticWorks, a modular full-stack platform, alongside a:xink, an AI-driven [...]
SEOUL, Aug. 25(Korea Bizwire) — South Korean chipmaker SK hynix Inc. said Monday it has begun mass production of a new quadruple level cell (QLC) NAND flash to address the growing need for high-performance products in the artificial intelligence sector (AI). The 321-layer 2Tb QLC1 NAND flash product has doubled the data transfer speed, with [...]
SEOUL, Aug. 25(Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, will invest an additional US$70 million “to expand” its shipyard in Philadelphia, according to the White House’s website Monday. Hanwha Group acquired Philly Shipyard for 140 billion won (US$100 million) last year to enter the U.S. shipbuilding market, with a long-term goal [...]
SEOUL, Aug. 25(Korea Bizwire) — TerraPower LLC, a nuclear power startup founded by Bill Gates, has expressed hope for closer business ties with SK Group, the country’s No. 2 conglomerate said Monday. TerraPower expressed such a hope in a meeting between Gates and SK Group Chairman Chey Tae-won, held in Seoul last week, where the [...]
WASHINGTON, Aug. 24 (Korea Bizwire) – President Lee Jae Myung said Sunday that it is difficult to agree on a demand by Washington on the strategic flexibility of the U.S. forces stationed in South Korea, as the decades-old alliance between Seoul and Washington is expected to face a monumental change, possibly to better deter China. [...]
A total of 8.64 million people aged 65 and older, accounting for 90.9 percent of the age group, received pension payments from at least one type of pension program, including the state pension, as of 2023, according to data compiled by Statistics Korea. The average monthly pension amount marked a 6.9 percent increase from [...]
MAKATI CITY, Philippines, Aug. 24, 2025 (Korea Bizwire) – Commercial partnerships between athletes and corporations are commonplace. From football pitches to TV advertisements, we often see corporate logos emblazoned on team jerseys and famous athletes endorsing products and services. But every so often, a partnership emerges with a far more noble mission—one that goes beyond [...]