SEOUL, Sept. 1 (Korea Bizwire) — A majority of South Korean companies prefer to rehire older employees after retirement rather than extend their contracts or adopt alternative employment models, according to a new survey that underscores both the demand for experienced workers and the challenges of managing labor costs. The Korea Employers Federation (KEF) said [...]
SEOUL· SEJONG, Aug. 31 (Korea Bizwire) — AliExpress, the Chinese e-commerce platform, has been hit with a multimillion-dollar penalty in South Korea for misleading customers with inflated discount claims on thousands of products. The Fair Trade Commission (FTC) said Sunday it imposed corrective orders and fines totaling 20.93 billion won ($15.5 million) after finding that [...]
SEOUL, Aug. 29 (Korea Bizwire) — Air Seoul Inc., a South Korean budget carrier, said Friday it will resume flights between Incheon and Guam in late October, three years after suspending the service in 2022 due to the COVID-19 pandemic. The carrier plans to operate one flight a day on the route starting Oct. 26, [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korea’s Supreme Court has overturned a lower court ruling that had partially held BMW Korea liable in a fatal sudden acceleration crash, dealing a setback to victims seeking recognition of manufacturing defects in such cases. The ruling, issued earlier this month, involved a 2018 accident in which a [...]
SEOUL, Aug. 29 (Korea Bizwire) — LG Energy Solution said Thursday it has signed a memorandum of understanding with Kim Long Motors to supply cylindrical batteries for the Vietnamese automaker’s upcoming line of electric buses, marking a significant step into Southeast Asia’s fast-growing EV market. Kim Long Motors, a subsidiary of transport giant Phu Thai Group, [...]
SEOUL, Aug. 29 (Korea Bizwire) — Lotte Engineering & Construction said Thursday it has stepped up workplace safety measures in line with the government’s newly announced “12 Core Safety Rules,” rolling out technology and policies aimed at protecting laborers in one of South Korea’s most accident-prone industries. The company has developed what it calls the [...]
SEOUL, Aug. 28 (Korea Bizwire) — Celltrion Inc., a leading South Korean biopharmaceutical company, said Thursday it will strengthen its biosimilar lineup in Vietnam to meet rising demand in the Southeast Asian country. Celltrion launched two biosimilars in Vietnam this year — Remsima, for the treatment of autoimmune diseases, in June, and Herzuma, for breast [...]
SEOUL, Aug. 28 (Korea Bizwire) — LG Electronics said Thursday it will debut new robot vacuum cleaners at IFA 2025 in Berlin next month, highlighting designs aimed at blending more seamlessly into home interiors while enhancing cleaning performance through artificial intelligence. The lineup includes two models: the built-in Hidden Station and the freestanding Objet Station. [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s financial regulators said Wednesday they will impose significantly harsher penalties on accounting fraud, expanding fines for both companies and executives in an effort to close loopholes that have allowed senior management to escape responsibility. Under the new framework approved by the Securities and Futures Commission, fines for [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s largest companies have sharply increased their reliance on temporary workers over the past four years, raising questions about job stability in one of Asia’s most industrialized economies. According to data released Wednesday by CEO Score, which analyzed quarterly filings from 334 of the country’s top 500 companies [...]