SEOUL, Dec. 25 (Korea Bizwire) — The South Korean government has introduced measures to limit the use of treasury shares by listed companies during corporate spin-offs, aiming to prevent misuse that could unfairly enhance major shareholders’ control. The Financial Services Commission (FSC) announced on December 24 that amendments to the Capital Markets Act Enforcement Decree, approved [...]
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. 23 (Korea Bizwire) — South Korea is grappling with a surge in obesity and e-cigarette use, even as traditional smoking declines and physical activity rates improve, according to a nationwide health survey released by the Korea Disease Control and Prevention Agency (KDCA). The survey, conducted among 230,000 adults across 258 health centers, revealed [...]
SEOUL, Dec. 23 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Monday it has reached an agreement with Qualcomm Technologies Inc. to jointly accelerate the commercialization of system-on-chip-based battery management system (SoC-based BMS) diagnostic solutions. Under the agreement, LGES’ new advanced BMS software will be made available on the [...]
DAEJEON, Dec. 23 (Korea Bizwire) – In a significant advance for cancer treatment, researchers at the Korea Advanced Institute of Science and Technology (KAIST) have developed a novel technique that transforms colon cancer cells into normal-like cells without destroying them, the institute announced on December 22. The research team, led by professor Cho Kwang-hyun from the [...]
SEOUL, Dec. 22 (Korea Bizwire) – The Kia Carnival has set a new annual sales record in its 26-year history, thanks to surging demand for its hybrid model. Kia announced on December 22 that the Carnival’s global sales from January to November reached 157,336 units, surpassing the previous high of 155,433 units set in 2002. With [...]
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 [...]
SEOUL, Dec. 20 (Korea Bizwire) – A former Samsung executive has been indicted for arranging the transfer of key semiconductor experts to a Chinese company in exchange for approximately ₩300 million ($207,000) in referral fees. The Seoul Central District Prosecutors’ Office announced the charges on December 20, citing violations of the Employment Security Act and the [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s Statistical Office released its 2024 Social Trends report on December 19, revealing significant insights into the potential impact of artificial intelligence (AI) on jobs, rising obesity rates, and shifting societal behaviors. AI and Job Displacement AI technologies like ChatGPT could replace 2.7 million jobs, nearly 10% of [...]