SEOUL, Dec. 31 (Korea Bizwire) — South Korea is set to fully ban its decades-old controversial practice of bear bile farming next year, according to officials Wednesday, although about 200 bears are still in captivity. Since 1981, South Korea has allowed the import and breeding of bears in an effort to boost income for farmers [...]
SEOUL, Dec. 31 (Korea Bizwire) — A broader swath of South Korean companies will soon be required to file regulatory disclosures in English, a move aimed at opening the country’s capital markets further to foreign investors, even as a newly enacted pro-labor law is set to raise compliance risks for businesses. Beginning May 1, the Financial [...]
SEOUL, Dec. 31 (Korea Bizwire) — Celltrion Inc., a major South Korean biopharmaceutical company, said Wednesday it expects its annual operating profit to exceed 1 trillion won (US$693 million) for the first time this year, driven by strong sales of high-end products. The company forecast its operating profit will more than double to 1.16 trillion [...]
SEOUL, Dec. 31 (Korea Bizwire) — The number of high-skilled workers in South Korea grew for the fourth consecutive year in 2024, with such jobs in the semiconductor sector increasing by the most, government data showed Wednesday. The total number of industrial technology workers stood at 1.74 million as of end-2024, up 1.1 percent from [...]
SEOUL, Dec. 31 (Korea Bizwire) — The interim head of Coupang Corp., the South Korean unit of U.S.-listed Coupang Inc., said Wednesday that the company’s compensation plan for a recent data breach will not include any conditions requiring customers to waive their right to file lawsuits against the e-commerce giant. Responding to a question from [...]
SEOUL, Dec. 31 (Korea Bizwire) — The Fair Trade Commission (FTC) said Wednesday it has imposed fines totaling 93.5 billion won (US$64.8 million) on three construction companies and CJ Group for illegal inter-subsidiary transactions. The FTC said it fined Daebang Construction Co., JungHeung Construction Co., Woomi Co. and CJ Group, and referred them to the [...]
SEOUL, Dec. 31 (Korea Bizwire) — Regular physical activity sustained over time can significantly reduce the risk of depressive symptoms, according to a large-scale Korean study that underscores the mental health benefits of even moderate exercise. Researchers at the National Institute of Health, under the Korea Disease Control and Prevention Agency, analyzed data from 19,112 adults [...]
SEOUL, Dec. 31 (Korea Bizwire) — More than half of South Koreans with diabetes are obese, with abdominal obesity particularly prevalent among patients in their 30s and 40s, according to new findings released this week by the nation’s leading diabetes experts. The Korean Diabetes Association said its analysis of data from the National Health and Nutrition [...]
SEOUL, Dec. 31 (Korea Bizwire) — Online interest in artificial intelligence, K-culture and personal identity surged in South Korea this year, reflecting shifting social values as technology, culture and individual choice increasingly shape public discourse. According to a report released Wednesday by the Ministry of Culture, Sports and Tourism, online mentions of artificial intelligence rose 44 [...]
SEOUL, Dec. 31 (Korea Bizwire) — South Korea’s Supreme Court has ruled that the state can be held legally responsible for the death of a former detainee of the notorious Samcheong reeducation camps, recognizing a causal link between government misconduct and the victim’s suicide years after his release. According to legal officials on Tuesday, the Third [...]