SEJONG, March 24 (Korea Bizwire) — South Korea reported an additional foot-and-mouth disease (FMD) case at a local cattle farm, raising the number of cases this year to 14, the agriculture ministry said Monday. The latest case was found at the farm in the county of Yeongam, about 300 kilometers south of Seoul, which has [...]
SEOUL, March 24 (Korea Bizwire) — A South Korean court has ruled that the death of a delivery driver who ran a red light and was killed in a traffic accident while rushing to meet delivery deadlines qualifies as a work-related accident. The Seoul Administrative Court’s 8th Division, presided over by Judge Lee Jung-hee, sided [...]
ULSAN, March 24 (Korea Bizwire) — With South Korea’s shipbuilding industry experiencing its strongest boom in 15 years, the Dong-gu district of Ulsan is taking steps to better accommodate its rapidly growing foreign population with new comprehensive support measures. The district council recently passed amendments to its foreign resident support ordinance, requiring the local government to develop, [...]
SEOUL, March 21 (Korea Bizwire) — The Bank of Korea has called for aggressive corporate investment and bold regulatory easing to accelerate South Korea’s service exports, emphasizing the need to build an independent content export infrastructure that doesn’t rely on foreign platforms. In a report titled “Current Status and Future Direction of South Korea’s Service [...]
SEOUL, March 21 (Korea Bizwire) — Seven out of 10 South Koreans are willing to pay more for products from companies that actively pursue environmental, social and government (ESG) management, a local survey showed Friday. In the survey of 3,000 people aged 18 and older conducted by the Federation of Korean Industries (FKI) and Hankook [...]
SEOUL, March 21 (Korea Bizwire) — The finance ministry said Friday it will ease restrictions on duty-free alcohol purchases for local tourists visiting the southern resort island of Jeju. Under the revised regulations, the current two-bottle limit will be removed, while the overall allowance remains at up to 2 liters of duty-free alcoholic beverages, with [...]
SEOUL, March 21 (Korea Bizwire) — South Korea’s financial watchdog said Friday it will look into whether Homeplus Co. has violated accounting rules as speculation mounts over the retailer’s controversial short-term debt sale. The Financial Supervisory Service (FSS) said it will inspect to verify whether the retailer, wholly owned by private equity firm MBK Partners [...]
SEOUL, March 21 (Korea Bizwire) — As high interest rates and growing fears of jeonse fraud continue to reshape South Korea’s real estate market, the trend of converting traditional jeonse (lump-sum rental deposits) into monthly rental contracts is accelerating — with record-breaking luxury lease agreements becoming increasingly common. According to data released by the Ministry [...]
ULSAN, South Korea, March 21 (Korea Bizwire) — HD Hyundai Mipo announced Thursday it had successfully delivered South Korea’s first hybrid-propulsion roll-on/roll-off (Ro-Ro) vessel, marking a significant milestone in the nation’s shipbuilding industry. The vessel, named Chaumine, combines diesel engines with electric battery power and was delivered to CLdN, a shipping company based in Luxembourg. [...]
SEOUL, March 21 (Korea Bizwire) — After a decade of struggle, the shipbuilding industry on Geoje Island is roaring back to life, with Hanwha Ocean and Samsung Heavy Industries both surpassing 10,000 employees each and offering substantially higher wages amid a global shipping boom. According to business reports released on March 19, Hanwha Ocean and [...]