SEOUL, Aug. 9 (Korea Bizwire) — Record rainfall, believed to be the heaviest in 115 years, has pummeled Seoul and surrounding regions, leaving nine people dead and six others missing while flooding homes, vehicles, buildings and subway stations, officials said Tuesday. Parts of Seoul, the western port city of Incheon and Gyeonggi Province that surrounds [...]
SEOUL, Aug. 9 (Korea Bizwire) — The monthly income of life and non-life insurance planners has declined due to the worsening of the sales environment and the deterioration of channel competitiveness caused by the COVID-19 pandemic, a research institute said. According to the latest report published by the Korea Insurance Research Institute, the average monthly [...]
SEOUL, Aug. 8 (Korea Bizwire) — South Korea’s financial regulator said Monday state-run policy lenders plan to increase loans with low and fixed interest rates to small firms to help ease their financial burdens caused by high inflation and rising borrowing costs. The Financial Services Commission (FSC) said in a policy briefing to President Yoon [...]
SEOUL, Aug. 8 (Korea Bizwire) — While the COVID-19 pandemic has pulled down the level of happiness and overall life satisfaction among the public, the sense of solidarity has strengthened, a report said Sunday. The Korea Institute for Health and Social Affairs conducted a survey of 3,923 men and women between the ages of 19 [...]
SEOUL, Aug. 8 (Korea Bizwire) — South Korea plans to sell state-owned unused and idle lands and buildings over the next five years in a bid to bolster public finances, the finance ministry said Monday. The government said it plans to push to sell assets worth 16 trillion won (US$12.3 billion) and more in the [...]
SEOUL, Aug. 8 (Korea Bizwire) — The Ministry of Justice revealed last week that it had formulated new guidelines to make it mandatory for the staff of immigration offices to acquire consent from permanent residents when they investigate unregistered migrants. The guidelines, which went into effect this month, also stipulate that immigration office employees should [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea’s exports of instant noodles hit a fresh all-time high in the first half on the increasing popularity of Korean pop culture and a rise in demand for home-cooked food amid the pandemic, data showed Sunday. Exports of instant noodles, or “ramyeon” in Korean, came to US$383.4 million [...]
SEOUL, Aug. 7 (Korea Bizwire) — A Seoul court has ruled that an employee who slipped and died after heavy drinking with a boss should be recognized as a victim of a workplace accident, officials said Sunday. The Seoul Administrative Court sided with the family of the deceased worker in their litigation against the Korea [...]
SEOUL, Aug. 7 (Korea Bizwire) — About one out of eight mid-aged people in South Korea has borrowed money due to economic challenges caused by the coronavirus pandemic, a survey showed Sunday. According to the survey of 3,923 people by the Korea Institute for Health and Social Affairs, 12.5 percent of people in their 40s [...]
SEOUL, Aug. 6 (Korea Bizwire) — A civic group filed a constitutional petition against the state minimum wage system Friday, arguing that enforcing a compulsory minimum wage on employers violates their freedom of contract and business. The petition by the public labor union minimum wage response committee was filed with the Constitutional Court hours after [...]