SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s National Intelligence Service (NIS) has issued a warning regarding the Chinese generative artificial intelligence (AI) model DeepSeek, citing significant security vulnerabilities, including the unrestricted sharing of personal data with advertisers and inconsistencies in responses to sensitive questions based on language settings. In a statement released on February [...]
SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s major banks are rapidly closing physical branches, citing the rise of digital banking and cost-cutting measures, even as they continue to report record-high interest income. The trend, however, is sparking concerns over reduced financial accessibility for elderly customers and those unfamiliar with mobile banking. KB Kookmin Bank [...]
SEOUL, Feb. 10 (Korea Bizwire) — In a bold move to support young couples and maintain recent upticks in birth rates, the Seoul Metropolitan Government announced plans to provide newly married couples with 1 million won in marriage grants starting this October. The initiative, currently under review by the Ministry of Health and Welfare, will target [...]
SEOUL, Feb. 10 (Korea Bizwire) — More than half of South Korean pet owners are unaware that they could contract parasitic infections from their dogs and cats, according to a new government survey, highlighting a significant public health knowledge gap amidst rapidly growing pet ownership. The Korea Disease Control and Prevention Agency (KDCA) found that while [...]
SEOUL, Feb. 9 (Korea Bizwire) — As South Korea’s once-booming commercial real estate sector faces a downturn, banks are seeing a sharp rise in lawsuits from borrowers seeking to void their debt obligations. Many of these legal disputes stem from investments in knowledge industry centers, a type of commercial property that had gained popularity as an [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s Financial Supervisory Service (FSS) announced on February 9 that it will enhance access to corporate disclosure information for foreign investors by expanding English-language content on its electronic disclosure system (DART) and launching a new open data platform on Sunday. The updated English DART system now allows real-time access [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea’s ambitious deep-sea gas exploration project, codenamed “Daewang Whale,” faces an uncertain future after the first drilling attempt failed to yield economically viable hydrocarbon reserves. With the government unwilling to fund a second drilling phase and the Korea National Oil Corporation (KNOC) grappling with financial instability, the project’s continuation [...]
SEOUL, Feb. 8 (Korea Bizwire) — While legal experts believe a Supreme Court reversal is unlikely, the extended legal process means Samsung must continue navigating uncertainties that could affect its strategic decision-making. The prolonged case may delay key investment decisions and hinder Samsung’s ability to recover from its recent struggles in the semiconductor industry. A senior [...]
HAENAM, South Korea, Feb. 8 (Korea Bizwire) — Haenam County in South Jeolla Province has introduced an expanded financial support system for newborns, ensuring that a child born in 2025 will receive up to 91.56 million KRW ($63,100) in government assistance by the time they turn 18. According to Haenam County officials on February 7, the [...]
SEOUL, Feb. 7 (Korea Bizwire) — SK Hynix has announced that it will grant an additional 30 shares of company stock to employees as part of a ‘New Start Incentive’, following the recent distribution of a 1,500% performance-based bonus last month. According to industry sources on February 7, the company informed employees through an internal notice [...]