BUSAN & SEOUL, Dec. 24 (Korea Bizwire) — South Korea’s oceans ministry said on Tuesday that it would begin preparing trial voyages along the Arctic shipping route next year, positioning the country to take advantage of new maritime pathways opening as climate change reshapes global trade and fishing conditions. At a presidential policy briefing in Busan, [...]
SEOUL, Dec. 23 (Korea Bizwire) — The families of Koreans who were forcibly conscripted by Imperial Japan during World War II and later enshrined at Japan’s controversial Yasukuni Shrine have filed a lawsuit in a South Korean court, seeking the removal of their relatives’ names and damages for what they describe as an ongoing violation of [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korean prosecutors have charged a group of former Samsung Electronics employees with illegally transferring core semiconductor technologies to a Chinese rival, in what authorities described as one of the most serious cases of industrial espionage involving the country’s strategic industries. The Seoul Central District Prosecutors’ Office said on [...]
SEOUL, Dec. 23 (Korea Bizwire) — The rapid adoption of foldable smartphones is reshaping the global smartphone market, driving a structural shift toward higher prices and more premium specifications, industry analysts say. Foldable devices, once the domain of early adopters, are gaining traction among mainstream consumers as demand grows for larger screens and multitasking capabilities. That [...]
SEOUL, Dec. 23 (Korea Bizwire) — The South Korean government on Tuesday laid out a five-year strategy aimed at overhauling the country’s chemical industry, betting that a shift toward high-value and environmentally friendly products will help it fend off mounting competition and chronic oversupply from China. Under the plan, announced by the Ministry of Trade, [...]
SEOUL, Dec. 23 (Korea Bizwire) — Nongshim Co., South Korea’s leading instant noodle maker, said Tuesday it has opened its fourth overseas “experience space” for “ramyeon” products at John F. Kennedy International Airport in New York. The U.S. outlet follows earlier openings of Shin Ramyun Bunsik in Ho Chi Minh City, Vietnam, in August; Harajuku, [...]
SEOUL, Dec. 23 (Korea Bizwire) — The use of computed tomography (CT) scans in South Korea has risen steadily in recent years, even as many patients remain poorly informed about medical radiation exposure and its potential health risks, according to a new survey released by the national health insurer. The National Health Insurance Service said an [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s financial watchdog warned on Monday that bonus systems at banks and other financial institutions remain overly focused on short-term performance, even as incentive pay surged more than 30 percent last year. The Financial Supervisory Service said total performance-based compensation paid to employees at financial companies reached 1.396 trillion [...]
SEOUL, Dec. 23 (Korea Bizwire) — The South Korean government said it expects domestic petrochemical producers to cut as much as 3.7 million tons of naphtha cracking capacity, a key goal of a sweeping industry restructuring drive aimed at restoring competitiveness in an oversupplied global market. After reviewing restructuring plans submitted by major producers, the Ministry [...]
SEOUL, Dec. 23 (Korea Bizwire) — The share of South Koreans who play video games has fallen to its lowest level on record, underscoring a rapid shift in leisure habits as streaming platforms and short-form video content gain dominance, according to a new government-backed survey. A nationwide study released Monday by Korea Creative Content Agency found [...]