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S. Korea Ordered to Pay Lone Star US$216.5 mln in Investor-state Suit

S. Korea Ordered to Pay Lone Star US$216.5 mln in Investor-state Suit

SEOUL, Aug. 31 (Korea Bizwire) — An international tribunal ordered South Korea to pay the U.S. private equity firm Lone Star Funds US$216.5 million plus interest, officials said Wednesday, bringing an end to a decadelong legal battle surrounding its sell-off of a local bank. South Korea said it cannot accept the decision and will actively [...]

Police to Develop AI-based Black Box Video Decoding System

Police to Develop AI-based Black Box Video Decoding System

SEOUL, Aug. 24 (Korea Bizwire) — Police plans to introduce an artificial intelligence (AI)-based black box video decoding system to better cope with fast-growing public interest reports on traffic law violations. The National Police Agency said Tuesday it is developing an AI system in collaboration with the Ministry of Science and ICT to automatically decode [...]

Man Who Returned to Religious Activities Convicted of Evading Military Service

Man Who Returned to Religious Activities Convicted of Evading Military Service

SEOUL, Aug. 19 (Korea Bizwire) — A district court has ruled that it cannot accept a conscientious objection to mandatory military service based on a recently joined Jehova’s Witness activity after several years of staying out of religious activities. The Seoul Central District Court on Thursday sentenced a 28-year-old man to 10 months in prison, suspended [...]

Top Court Recognizes POSCO’s Former Subcontract Workers as Direct Employees

Top Court Recognizes POSCO’s Former Subcontract Workers as Direct Employees

SEOUL, July 28 (Korea Bizwire) — The Supreme Court on Thursday upheld a ruling that ordered steelmaker POSCO to grant the status of direct employees to 55 of its former subcontract workers. A total of 59 workers of POSCO’s subcontractors filed suits in 2011 and 2016, demanding the company recognize them as direct employees as [...]