SEOUL, July 26 (Korea Bizwire) — The Ministry of Justice said Wednesday it will create a new organization dedicated to responding to international investment disputes involving foreign capital firms. The ministry unveiled its plan to establish the tentatively titled International Legal Affairs Bureau as part of an upcoming organizational change, according to the official gazette. [...]
SEOUL, July 26 (Korea Bizwire) — SK hynix Inc. said Wednesday it logged losses for three quarters in a row as a demand slump continued amid macroeconomic woes, but it called the bottom on the chip market. The world’s second-largest memory chip maker said in a regulatory filing its operating losses amounted to 2.88 trillion [...]
SEOUL, July 26 (Korea Bizwire) — With backlash from franchisees growing over the South Korean unit of German sports brand Adidas’s decision to unilaterally terminate franchise contracts, lawmakers have stepped in to scrutinize the issue. The office of Rep. Choi Seung-jae, a member of the ruling People Power Party and the National Assembly’s National Policy [...]
SEOUL, July 26 (Korea Bizwire) — South Korea’s top portal operator Naver Corp. said Tuesday it has signed a memorandum of understanding (MOU) with car-sharing and mobility service provider SOCAR Inc. to foster mutual cooperation for mobility service innovation using its hyperscale artificial intelligence (AI) platform, HyperCLOVA X. According to the terms of the MOU, [...]
BUSAN, July 26 (Korea Bizwire) — The management office of the U.N. Memorial Cemetery in the southern port city of Busan said it will officially launch a virtual reality (VR) program and a real-time viewing function on the cemetery website on Friday. The cemetery is for the fallen U.N. soldiers and war veterans who fought [...]
SEOUL, July 26 (Korea Bizwire) — South Korean owners of Volkswagen vehicles have faced disappointment in their lawsuit filed for compensation over the local unit of German carmaker’s manipulation of emissions documents, which resulted in the revocation of emissions certifications. The Seoul Central District Court ruled in favor of Volkswagen Group Korea and a Volkswagen [...]
SEOUL, July 25 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker by sales, on Tuesday unveiled the design of the upgraded Sorento SUV ahead of its domestic launch next month. Kia plans to place the facelifted Sorento SUV with a gasoline, a diesel or an all-wheel-drive gasoline hybrid engine in the Korean market in [...]
SEOUL, July 25 (Korea Bizwire) — It has been six months since indoor mask-wearing rules were lifted, but some children are still refusing to take off their masks despite the summer heat. During the pandemic, masks became a crucial accessory for many elementary school students, especially for children beginning to gain interest in beauty. Park, [...]
SEOUL, July 25 (Korea Bizwire) — Digital therapeutics (DTx), used to treat insomnia and depression through smartphone applications, may soon be covered by health insurance. According to industry sources, the enactment bill for DTx health insurance guidelines recently passed the sub-committee of the health insurance policy deliberation committee under the Ministry of Health and Welfare. [...]
SEOUL, July 25 (Korea Bizwire) — A tens of thousands of COVID-19 vaccine doses, intended for free vaccinations for the public, have been scrapped after reaching their expiration date, data showed Monday. According to a report from the Korea Disease Control and Prevention Agency (KDCA) submitted to Rep. Jung Choun-sook of the Democratic Party, some [...]