SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 30 (Korea Bizwire) — As the won-dollar exchange rate soars to nearly 1,500 won, small and medium-sized enterprises (SMEs) in South Korea are grappling with mounting challenges, including volatile currency markets and the looming enforcement of stricter labor regulations. The steep rise in the exchange rate—up from the 1,300-won range earlier this year—has [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s 10 largest conglomerates have nearly doubled their corporate bond issuance over the past two years to manage increasing financial burdens. However, with rising interest rates and tighter liquidity conditions, these firms face significant challenges in refinancing their debt, raising concerns about potential ripple effects in the country’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s elderly population is grappling with insufficient pension income, as nearly half of recipients receive less than 420,000 won ($290) monthly, according to a report released by Statistics Korea on Thursday. While 90% of the country’s seniors aged 65 and older collect at least one type of pension, [...]
SEOUL, Dec. 26 (Korea Bizwire) — Insurance payouts for small business closures in South Korea have reached a historic high of 1.3 trillion won in 2024, reflecting the deepening impact of the economic slowdown, according to the Korea Federation of SMEs. The federation reported on December 25 that payments under the “Yellow Umbrella” business closure insurance [...]
SEOUL, Dec. 26 (Korea Bizwire) – In 2025, South Koreans will see a number of small and big changes, including some that will improve convenience in their daily lives and some that may even lead to changes in how they live. Among Korean companies, CJ Logistics Corp. is set to take what may be the [...]
SEOUL, Dec. 25 (Korea Bizwire) — Amid a surge in protests following the impeachment motion against President Yoon Suk Yeol, calls for eco-friendly demonstration practices are gaining momentum in South Korea. Environmental activists and concerned citizens are urging organizers to minimize ecological harm during public rallies. The turning point came on December 14, when protesters released [...]
SEOUL, Dec. 25 (Korea Bizwire) — South Korea has officially entered the ranks of a “super-aged society,” with one in five residents now aged 65 or older, sparking renewed debate over raising the official age threshold for seniors. The issue is tied to pressing concerns such as pension reform, retirement age extension, and the economic strain [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s manufacturing and export sectors, the backbone of its economy, are bracing for significant challenges in early 2025 due to rising global trade tensions and domestic political instability. Concerns are growing over protectionist policies from major economies, particularly under the incoming Trump administration, and a leadership void in [...]
SEOUL, Dec. 20 (Korea Bizwire) – In a landmark decision, South Korea’s Supreme Court has held the state accountable for inadequate accessibility for people with disabilities, ordering compensation and setting a precedent for broader systemic reform. On December 19, the court ruled that the government must pay KRW 100,000 (approximately $70) in damages to each plaintiff [...]