SEOUL, Aug. 24 (Korea Bizwire) — South Korea’s National Assembly has approved amendments to the Trade Union and Labor Relations Adjustment Act, known as the Yellow Envelope Law, granting subcontracted and platform workers broader bargaining rights and restricting corporate claims for damages against unions. The law, passed on August 24, will take effect after a [...]
SEOUL, Aug. 24 (Korea Bizwire) — Nearly a decade after it was first proposed, South Korea’s National Assembly on Sunday passed the so-called Yellow Envelope Law, a landmark revision to the Trade Union and Labor Relations Adjustment Act that limits companies’ ability to claim damages against striking workers and strengthens protections for subcontracted labor. The legislation, [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea is fast-tracking efforts to develop on-device artificial intelligence (AI) semiconductors, critical components for autonomous vehicles, collaborative robots, and unmanned aerial systems, as part of a broader push to secure technological sovereignty and industrial competitiveness. The Ministry of Trade, Industry and Energy said Friday that a state panel [...]
SEOUL, Aug. 22 (Korea Bizwire) — The national postal service said Friday it plans to launch an affordable Express Mail Service (EMS) soon to help people continue sending parcels to the United States under a new tariff policy. The previous day, Korea Post said it will stop accepting non-document packages bound for the U.S. on [...]
SK Telecom Faces Mounting Pressure as Regulators Order Full Penalty Waivers for Customers After Hacking Breach SEOUL, Aug. 21 (Korea Bizwire) — South Korea’s telecom regulator has ordered SK Telecom to waive all early termination penalties for subscribers who wish to cancel their contracts by year’s end following the company’s massive hacking incident, intensifying the financial [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea moved to curb speculative demand from overseas buyers on Thursday, designating nearly all of the greater Seoul area as a restricted zone for foreign land transactions. The Ministry of Land, Infrastructure and Transport announced that Seoul, 23 municipalities in Gyeonggi Province, and seven districts in Incheon will [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korea’s telecom watchdog on Thursday ordered SK Telecom Co. to partially waive cancellation fees for non-mobile services following a major data breach that affected its 25 million mobile service users. The move came after the country’s top carrier decided to limit the waiver of cancellation fees to mobile [...]
SEOUL, Aug. 21 (Korea Bizwire) — The South Korean government will launch a nationwide refund program this fall that reimburses consumers for part of their credit card spending in an effort to revive household demand and support small businesses. The Ministry of SMEs and Startups said Wednesday that the “Coexistence Payback” scheme will run from [...]
SEOUL, Aug. 20 (Korea Bizwire) — The government on Wednesday announced a set of measures aimed at stabilizing supply chains in the nation’s strategic industries, with support extending to “every stage” of the industrial process, the finance ministry said. The Ministry of Economy and Finance said the measures will focus on sectors particularly vulnerable to [...]
SEOUL, Aug. 20 (Korea Bizwire) — The government and the ruling Democratic Party (DP) agreed Wednesday to ramp up their policy efforts to infuse private firms, the public sector as well as all sectors of society with artificial intelligence (AI) technology. Under the so-called AI Transformation initiative, the government and the DP plan to promote [...]