SEOUL, April 8 (Korea Bizwire) — The Korean branch of the Organization for Economic Cooperation and Development (OECD) on Friday said it has decided to begin mediation procedures between Chanel Korea’s labor union and management over the company’s alleged violation of labor acts and human rights. In December last year, employees of the French luxury [...]
SEOUL, April 7 (Korea Bizwire) — POSCO Chemical Co., a unit of South Korea’s steelmaker POSCO, said Thursday it has started the construction of a high-nickel cathode plant in the country to meet demand from electric vehicle companies. POSCO Chemical will invest 290 billion won (US$238 million) to build a 30,000-ton-a-year cathode plant in Pohang, [...]
SEOUL, April 7 (Korea Bizwire) — Excess funds held by South Korean households and nonprofit organizations fell last year from a year earlier as private spending increased amid the economic recovery, central bank data showed Thursday. Net financial funds — the value of financial assets minus financial liabilities — held by local households and nonprofit [...]
SEOUL, April 7 (Korea Bizwire) — With the coronavirus pandemic continuing for more than two years, Koreans have learned a new habit of washing hands while foreigners are watching more YouTube content, a Seoul-based non-profit organization said Wednesday. The Corea Image Communication Institute conducted a survey of 214 Koreans and 203 foreigners, in which 71.5 [...]
SEOUL, April 7 (Korea Bizwire) — The Seoul city government plans to offer various support programs to 1,200 socially isolated young people this year to help them connect with society, officials said Thursday. The city plans to offer six programs tailored to the individual needs of 1,000 socially isolated youths, including in-depth counseling, confidence-boosting sessions [...]
SEOUL, April 7 (Korea Bizwire) — South Korea’s state intelligence agency said Thursday it has started providing real-time information on hacking attempts to the country’s major cryptocurrency exchanges amid growing cyberthreats. The country’s major crypto exchanges — Upbit, Bithumb, Korbit and Coinone — now have access to the agency’s information on online security threats, such [...]
SEOUL, April 7 (Korea Bizwire) — Six out of 10 South Korean consumers prefer buying a used car as their first car, a logistics unit of Hyundai Motor Group said Wednesday. According to a survey conducted by Hyundai Glovis Co. of 1,148 visitors to the company’s online secondhand car transaction platform ‘Auto Bell,’ 64 percent [...]
SEOUL, April 7 (Korea Bizwire) — Six out of 10 Seoulites have made a purchase using live commerce, or TV home shopping-style mobile shopping, a survey showed Wednesday. According to a survey conducted by the Seoul Metropolitan Government of 4,000 consumers between 20 and 60 years of age, 2,315 or 57.9 percent of the total said [...]
SEOUL, April 6 (Korea Bizwire) — The Ministry of Justice on Tuesday gave advance notice of a revision to the civil law that allow juveniles to choose whether or not they will inherit their parents’ legacy, with the aim of preventing them from inheriting exorbitant debt at a young age. The current civil law has [...]
SEOUL, April 6 (Korea Bizwire) — The relative poverty rate of South Korean senior citizens has been on the decline, but is still high among member countries of the Organization for Economic Cooperation and Development (OECD) amid rapid aging, a report showed Wednesday. The relative poverty rate of South Koreans aged 66 or older came [...]