SK Telecom Faces Mounting Pressure as Regulators Order Full Penalty Waivers for Customers After Hacking Breach SEOUL, Aug. 21 (Korea Bizwire) — South Korea’s telecom regulator has ordered SK Telecom to waive all early termination penalties for subscribers who wish to cancel their contracts by year’s end following the company’s massive hacking incident, intensifying the financial [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea moved to curb speculative demand from overseas buyers on Thursday, designating nearly all of the greater Seoul area as a restricted zone for foreign land transactions. The Ministry of Land, Infrastructure and Transport announced that Seoul, 23 municipalities in Gyeonggi Province, and seven districts in Incheon will [...]
GANGNEUNG, Aug. 21 (Korea Bizwire) — With its main water reservoir at a record low and emergency rationing already in place, the eastern coastal city of Gangneung will turn to an ancient tradition in hopes of relief. The Gangneung Danoje Preservation Committee announced Thursday it will hold a giuje, or rain ritual, on August 23 [...]
SEOUL, Aug. 21 (Korea Bizwire) — Shares of Doosan Enerbility, South Korea’s leading nuclear power equipment maker, tumbled amid controversy over a contract signed between Korea’s state-run utilities and U.S. nuclear giant Westinghouse Electric Co. (WEC), leaving retail investors bearing the brunt of the losses. According to the Korea Exchange on Thursday, Doosan Enerbility’s stock [...]
SEOUL, Aug. 21 (Korea Bizwire) — Samsung Electronics Co. said Thursday it has launched its remote customer care service powered by artificial intelligence (AI) technology in more than 120 countries. The Home Appliances Remote Management (HRM) service allows Samsung’s customer centers to remotely access diagnostic data of SmartThings-connected products to provide solutions to resolve issues, [...]
SEOUL, Aug. 21 (Korea Bizwire) — Korean Air Co. said Thursday it has partnered with LIG Nex1 Co. to compete for a 1.78 trillion-won (US$1.27 billion) government project to develop an electronic warfare aircraft for the Air Force. The two companies plan to submit their final proposal for the project in early September. If chosen [...]
JECHEON, Aug. 21 (Korea Bizwire) — The opening of the 2025 Jecheon Korean Medicine Natural Product Industry Expo is just one month away. The 2025 Jecheon Korean Medicine Natural Product Industry Expo, scheduled to open Sept. 20 at Jecheon Oriental Medicine Expo Park in the North Chungcheong Province city, 116 kilometers southeast of Seoul, will [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea’s telecom watchdog on Thursday ordered SK Telecom Co. to partially waive cancellation fees for non-mobile services following a major data breach that affected its 25 million mobile service users. The move came after the country’s top carrier decided to limit the waiver of cancellation fees to mobile [...]
SEOUL, Aug. 21 (Korea Bizwire) — SK bioscience Co., the biotech arm of South Korea’s SK Group, said Thursday it will expand cooperation with the Gates Foundation on next-generation preventive medicines, with a focus on research and development (R&D) for pandemic preparedness. Officials from SK bioscience and the foundation held a meeting in Seoul on [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean brokerage firms are moving to resume overnight trading of U.S. stocks as early as November, more than a year after the service was abruptly suspended in the wake of a market shock. According to industry officials on Thursday, securities firms reached a tentative agreement to restart the service [...]