SEOUL, Jan. 18 (Korea Bizwire) – A Seoul court on Thursday turned down the claim by the eldest son of the founder of South Korean retail giant Lotte Group that he was unfairly removed from the boards of two Lotte hotel units. Shin Dong-joo, former vice chairman of Japan-based Lotte Holdings and eldest son of Lotte founder Shin Kyuk-ho, filed litigation against Hotel Lotte and [...]
SEOUL, Jan. 18 (Korea Bizwire) – A senior executive of LG Electronics Inc. on Thursday dismissed U.S. President Donald Trump’s claim that South Korea is dumping washing machines into the United States. Dan Song, president of LG Electronics’ home appliance & air solution division, said there is no chance of dumping by South Korean companies, as the U.S. has been cracking down on any dumping by South Korean firms. “We do not have any room [...]
SEOUL, Jan. 18 (Korea Bizwire) – South Korea’s nuclear operator said Thursday that its chief will step down this week, an abrupt resignation that has raised speculation that his criticism of the government’s anti-nuclear policy may have cost him his job. Lee Kwan-seop offered to resign for “personal reasons,” the state-run Korea Hydro & Nuclear Power Co. said. Lee is set to leave the company in a ceremony scheduled [...]
SEOUL, Jan. 18 (Korea Bizwire) – The organizers of the 2018 PyeongChang Winter Olympics said Thursday they are operating a special team of technicians managing radio-spectrum issues at venues to avoid interference of wireless devices and ensure accurate tracking of records. PyeongChang’s organizing committee and the Ministry of Science and ICT said the team of [...]
SEOUL, Jan. 18 (Korea Bizwire) — The South Korean government is being criticized for pushing for a showcase of inter-Korean unity at the PyeongChang Olympics through a series of high-level talks. Dialogue between the two Koreas continues over the logistics of North Korea’s participation in the Winter Olympics next month, as officials from Seoul and Pyongyang [...]
SEOUL, Jan. 18 (Korea Bizwire) — Seoul’s Nowon District is set to roll out next month ‘NW’, a new cryptocurrency that will be used as a means of exchange within the local community. NW is the first blockchain technology-based local currency in the world, according to the Nowon District Office on Thursday. After its release next [...]
SEOUL, Jan. 18 (Korea Bizwire) — Postal workers in South Korea will work no more than five days a week from March of this year. Korea Post said on Thursday postal workers at a number of post offices will only work five days per week on two different shifts for a trial period between March and [...]
SEOUL, Jan. 18 (Korea Bizwire) — Traditional gender roles in South Korean households are changing, as new data shows men are involved in childcare and housework now more than ever. The number of economically inactive South Korean men involved in childcare and housework now stands at 170,000, the highest level since records began in 2003, according [...]
SEOUL, Jan. 18 (Korea Bizwire) — The environment ministry’s ‘no-driving day’ policy to fight fine dust in the country is drawing mixed reviews. The Ministry of Environment announced on Wednesday that it is considering the idea of introducing a nationwide alternate no-driving day, and even making it mandatory, which means cars that drive on the wrong [...]
DAEJEON, Jan. 18 (Korea Bizwire) — A new study suggests that mobile traffic in South Korea will increase tenfold over the next six years amid growing demand for high quality video streaming services. The Electronics and Telecommunications Research Institute (ETRI) announced on Wednesday a number of projections concerning telecom providers and data usage in the coming [...]