SEOUL, Apr. 4 (Korea Bizwire) –Fu Bao, the beloved giant panda who spent the first few years of her life at the Everland theme park in South Korea before departing for China on April 3, was visibly tense in the unfamiliar environment, with footage showing the animal’s startled reaction when handlers poked their fingers through [...]
SEOUL, Apr. 3 (Korea Bizwire) – In South Korea, the pay disparity between top executives and average employees in major corporations has reached a staggering level. Last year, the average annual salary for CEOs of large companies was reported at 2.09 billion won, while their employees earned an average of 87 million won, resulting in a [...]
SEOUL, Mar. 28 (Korea Bizwire) – South Korea’s e-commerce market has become the battleground for a high-stakes investment war between domestic giant Coupang and Chinese powerhouse AliExpress, as both companies aggressively pursue market dominance. The clash intensified after AliExpress, owned by the Alibaba Group, announced plans to invest $1.1 billion (1.5 trillion won) in South Korea [...]
SEOUL, Mar. 27 (Korea Bizwire) – The battle for market dominance between Samsung Electronics and LG Electronics in AI-powered appliances and OLED televisions spilled over into the companies’ annual shareholder meetings this week, as top executives touted their firms’ technological prowess. At LG’s annual meeting on March 26, Cho Joo-wan, the company’s chief executive, emphasized that [...]
SEOUL, Mar. 27 (Korea Bizwire) – As the European Union expands its environmental, social, and governance (ESG) regulations on exports, South Korean companies appear to be lagging in their awareness and preparedness, according to a recent survey conducted by the Korea Chamber of Commerce and Industry (KCCI). The survey, conducted with 205 domestic exporting firms, revealed [...]
SEOUL, Mar. 26 (Korea Bizwire) – As South Korea prepares for an unprecedented milestone of 10 million elderly citizens, the government has unveiled a sweeping set of measures aimed at enhancing housing options, improving care services, and fostering a supportive environment to meet the evolving needs of its rapidly aging demographic. At the 22nd Public [...]
SEOUL, Mar. 25 (Korea Bizwire) – Samsung Electronics remained tight-lipped on Wednesday after South Korean authorities recognized birth defects in children of former semiconductor factory workers as work-related injuries, reopening scrutiny over the tech giant’s commitment to employee welfare. The landmark ruling by the Korea Workers’ Compensation and Welfare Service covered three cases where children born [...]
SEOUL, Mar. 25 (Korea Bizwire) – A stark divide exists between the paychecks of top executives and ordinary employees at South Korea’s major conglomerates, with a new analysis revealing that executives earn on average more than 11 times the salary of regular workers. According to data compiled by Chaebul.com from the 2023 fiscal year business reports [...]
SEOUL, Mar. 22 (Korea Bizwire) – Starting this year, South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies. The Ministry of Health and Welfare has announced guidelines for compiling reports detailing the economic benefits provided to doctors and pharmacists. In 2021, amendments were made to [...]
SEOUL, Mar. 21 (Korea Bizwire) – The number of South Koreans opting to receive their national pension benefits before the official retirement age, despite incurring a financial penalty, has reached nearly one million, reflecting the economic struggles faced by many retirees. According to data from the National Pension Service released on March 20, the total number [...]