SEOUL, June 5 (Korea Bizwire) — South Korea’s Fair Trade Commission (FTC) announced Wednesday that it will formalize and publicly disclose criteria for identifying online shopping platforms that receive frequent consumer complaints, in a bid to improve transparency and strengthen consumer protection. Under the proposed regulation — titled Rules on Disclosure of Online Retailers with [...]
HBM boom propels SK hynix to global leadership in shifting memory landscape SEOUL, June 5 (Korea Bizwire) — In a historic reshuffling of the global memory chip hierarchy, SK hynix has edged past long-dominant rival Samsung Electronics in dynamic random access memory (DRAM) market share — the first such shift since Samsung took the top [...]
SEOUL, June 4 (Korea Bizwire) — In recognition of World Environment Day, LG Electronics is launching a series of global and local initiatives to spotlight the urgent need to combat plastic pollution and promote sustainable living, the company announced Wednesday. As part of its long-running “LG Hope Screen” program, LG is screening a campaign video [...]
SEOUL, June 4 (Korea Bizwire) — U.S. President Donald Trump signed a proclamation Tuesday raising tariffs on imported steel and aluminum from 25% to 50%, dramatically escalating trade tensions and sending shockwaves through South Korea’s embattled steel industry. The move, viewed by many as the realization of a “steel curtain” around the U.S. market, erects [...]
GWANGJU, June 4 (Korea Bizwire) — President Lee Jae-myung emerged as the top choice in a nationwide mock presidential election held among South Korean youth, winning more than half of the votes cast by participants under the age of 18. The mock election, organized by Gwangju YMCA and the Youth Mock Voting Coalition, surveyed 17,466 [...]
PRAGUE/SEOUL, June 4 (Korea Bizwire) — It was a deal nearly derailed by courtroom drama — but now, South Korea is officially back on the global nuclear stage. Following a months-long legal impasse, Korea Hydro & Nuclear Power Co. (KHNP), South Korea’s state-run nuclear energy firm, has signed a final agreement to build two nuclear [...]
WASHINGTON•BEIJING, June 4 (Korea Bizwire) — The Trump administration on Tuesday congratulated South Korea’s newly elected President Lee Jae-myung and reaffirmed its commitment to deepening trilateral cooperation with Seoul and Tokyo, as tensions with China continue to mount. In an official statement, U.S. Secretary of State Marco Rubio, who also serves as National Security Advisor, [...]
SEOUL, June 4 (Korea Bizwire) — As Lee Jae-myung steps into the South Korean presidency, he inherits a nation weighed down by global headwinds and domestic fatigue. Confronted by a trade war brewing across the Pacific and an economy teetering on stagnation, the former human rights lawyer-turned-political brawler is shifting into the role of crisis manager [...]
SEOUL, June 4 (Korea Bizwire) — As South Korea prepares to usher in a new administration following the 21st presidential election, the nation’s digital asset industry is poised for a potential regulatory breakthrough, with both leading candidates expressing support for broader integration of blockchain-based financial products into the legal framework. Both Lee Jae-myung and Kim [...]
SEOUL, June 4 (Korea Bizwire) — South Korea will host a series of events marking World Environment Day from June 4 to 13, with a flagship ceremony taking place in Jeju on June 5—the first time in 28 years that the global observance is held in the country. The ceremony, organized by the Ministry of [...]