SEOUL, April 14 (Korea Bizwire) — U.S. electric carmaker Tesla Inc.’s South Korean unit has failed to properly reflect the fines and penalties levied by the National Tax Service and the Fair Trade Commission (FTC) in its financial statements. According to the data from the Financial Supervisory Service, Taesung Accounting Corp., the auditor of Tesla [...]
SEOUL, April 13 (Korea Bizwire) — Generative artificial intelligence (AI) technology has brought a paradigm shift in the IT industry, making it inevitable for the government to readjust its AI policy. The data labeling project in the Digital New Deal initiative is a representative example of this shift, which is part of the Korean New [...]
SEOUL, April 13 (Korea Bizwire) — The Supreme Court on Thursday finalized a ruling in favor of the South Korean antitrust regulator’s record fine of 1 trillion won (US$760.8 million) imposed in 2016 on U.S. chipmaker Qualcomm Inc. for unfair business practices. The fine was imposed by the Fair Trade Commission (FTC), which concluded in [...]
SEOUL, April 13 (Korea Bizwire) — As mixology, a term for mixing various types of alcoholic drinks, is gaining popularity, convenience store chain operators are diversifying their alcohol ranges by releasing highballs, a type of cocktail normally made with Scotch whisky and carbonated water. CU released a lemon highball in collaboration with local artist Chungshin. [...]
SEOUL, April 12 (Korea Bizwire) — Students with a history of bullying at school will have their disciplinary records reflected in the regular college admissions process, beginning in 2026, the government announced Wednesday, as part of its measures to combat school violence. The government will also double the mandatory retention period of disciplinary records of [...]
SEOUL, April 12 (Korea Bizwire) — Rising consumer prices have led to the rising popularity of “ugly” fishery products, attracting consumers with their competitive pricing. SSG.com, the online mall arm of South Korean retail giant Shinsegae Group, introduced “ugly” fishery products like South Korean squid and Argentinian shrimp at the newly opened misfits market for [...]
SEOUL, April 11 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to slap a fine of 42.1 billion won (US$31.8 million) on Google LLC and its regional arms for unfair business practices aimed at solidifying its dominance in the Korean mobile gaming app market. The punishment came as the U.S.-based global [...]
SEOUL, April 11 (Korea Bizwire) – South Korea’s largest car-sharing and mobility service provider SOCAR Inc. said Monday that the use of its Commuter Pass subscriptions, designed for office workers, grew robustly by about 50 percent from November last year to March of this year. The Commuter Pass is a program that provides users with access to SOCAR [...]
SEOUL, April 10 (Korea Bizwire) — South Korea is becoming a ferocious battlefield of high-end imported cars after setting a new sales records this year. Porsche AG sold 2,966 vehicles in South Korea for the first quarter of this year, the most it has sold in a single quarter since 2014 when the company launched [...]
SEOUL, April 10 (Korea Bizwire) — South Korean authorities are convening a high-level “Council of Related Agencies Responding to Drug Crimes” on Monday to tackle the growing number of drug-related incidents, including the recent case in which beverages laced with narcotics were handed out to students at cram schools in Seoul’s Gangnam district. The meeting, [...]