SEOUL, March 8 (Korea Bizwire) – So-called ‘360 deals’ in the Korean music industry have often been criticized for over-exploitation of artists or prospective artists (trainees), to the point where they were given the notorious title of “slave contracts.” Several K-pop artists have come forward to denounce the practice, while some engaged in highly publicized [...]
SEOUL, March 8 (Korea Bizwire) – The National Human Rights Commission of Korea said Tuesday that South Korea’s military prisons were failing to protect the rights of inmates, with poor maintenance conditions and other unethical practices. According to the NHRC, the prison cells that its officials investigated had restrooms with no shades or screens to [...]
SEOUL, March 8 (Korea Bizwire) – Only 70 people appeared at the Hyundai Motorstudio in Seoul on Tuesday for the company’s biannual recruiting information sessions, but another 40,000 job seekers were present in the room through their laptops and smartphones, via Facebook Live. This was the first time for the automaker to broadcast its job [...]
BUSAN, March 8 (Korea Bizwire) – A new type of artificial nose, or electronic nose, has been developed by Pusan National University researchers, and is able to detect endocrine disruptors and distinguish the place of origin for food products, and, with further research, even track down cancer cells. Such devices identify substances from odors that [...]
SEOUL, March 8 (Korea Bizwire) – South Korean shipyards stood at third place in terms of new orders secured last month, from the top slot the previous month, industry data showed on Wednesday. According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 160,000 compensated [...]
SEOUL, March 8 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday authorities will expand “systemic” support for nascent fintech firms in the country, with 3 trillion won (US$2.6 billion) earmarked for a three-year support project. South Korea, known for its information and communication technology prowess, launched a government-led campaign in early 2015 to [...]
SEOUL, March 8 (Korea Bizwire) – Asset management firms in South Korea reaped record profits last year, as investors poured money into private equity funds amid low interest rates, data showed Wednesday Assets controlled by 165 management companies reached 907 trillion won (US$788 billion) as of the end of 2016, up 10.8 percent from the [...]
SEOUL, March 8 (Korea Bizwire) – Samsung Electronics Co. is expected to report a 30-percent jump in its first-quarter operating profit as strong sales of semiconductors continue to drive earnings, market data showed Wednesday. According to a survey of earnings forecasts by market tracker FnGuide, Samsung is likely to post an operating profit of 8.7 [...]
SEOUL, March 8 (Korea Bizwire) – The rate of elementary students exposed to pornography and other adult video content has more than doubled in the past few years, with Internet portals named as the primary channel, a government survey showed Wednesday. In a survey by the gender equality ministry on 15,646 students — ranging from [...]
SEJONG, March 7 (Korea Bizwire) – South Korea’s state-run energy resource companies will move forward with their restructuring efforts this year as part of the government-led plan to streamline operations in the midst of low global oil prices, the commerce ministry said Tuesday. At a meeting convened by the Ministry of Trade, Industry and Energy [...]