SEOUL, Nov. 6 (Korea Bizwire) — South Korea recorded about 23 billion won (US$166 million) in fraudulent unemployment benefit claims so far this year, with the government recovering only two-thirds of the amount, according to parliamentary data released Wednesday. The National Assembly Budget Office said in its 2026 budget analysis that as of August, authorities [...]
SEOUL, Nov. 6 (Korea Bizwire) — A majority of South Koreans say they do not trust the national pension system, according to a new survey released Wednesday by the Korea Employers Federation (KEF). In the poll of 1,007 adults conducted by Mono Research, 55.7 percent said they did not trust the National Pension Service, compared [...]
POHANG, Nov. 6 (Korea Bizwire) — One subcontracted worker died and three others were injured after inhaling toxic gas at POSCO’s Pohang steelworks on Wednesday morning, reviving criticism of what labor groups call South Korea’s “outsourced danger.” According to police and POSCO officials, the accident occurred around 9 a.m. at the stainless steel annealing and pickling [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s top financial regulator has approved a new service that lets travelers invest leftover foreign currency from prepaid cards into overseas stocks, marking the latest step in its push to foster financial innovation. The Financial Services Commission (FSC) said Wednesday that it designated NH Investment & Securities and fintech [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s National Pension Service (NPS) will overhaul its 1,200 trillion won (US$905 billion) investment governance structure to enhance the professionalism and agility of how the world’s third-largest pension fund manages its growing assets. Under the new system, the NPS will split its single Investment Committee into two separate [...]
SEOUL, Nov. 5 (Korea Bizwire) — Coupang reported record-high sales for the third quarter of 2025, buoyed by increased customer spending on its Rocket Delivery service and rapid growth in new ventures such as its Taiwan operations and Coupang Eats. Yet analysts warn that the company’s profitability remains stagnant, with operating margins stuck in the [...]
SEOUL, Nov. 5 (Korea Bizwire) — LG Electronics on Wednesday unveiled the “LG MoodMate,” a multifunctional interior projector that combines a beam projector, ambient lighting, and high-quality Bluetooth speaker in a single device, expanding its lineup of lifestyle screens. Starting November 6, the MoodMate will be sold exclusively through LG’s online brand shop, with an in-person [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea’s ruling party is moving swiftly to legislate an extension of the retirement age to 65 by the end of the year, backed by the nation’s two largest labor unions. But the country’s major business groups are warning that the proposal could amplify management uncertainty and deepen structural problems [...]
DAEJEON, Nov. 5 (Korea Bizwire) — More than 100 South Korean teenagers voluntarily confessed to online gambling and sought help through a police-led rehabilitation program in Daejeon over the past year, according to police data released Tuesday. The Daejeon Metropolitan Police Agency said that between November last year and October this year, 109 students — including [...]
SEOUL, Nov. 5 (Korea Bizwire) — As the South Korean government tightens oversight of new weight-loss drugs such as Wegovy and Mounjaro to curb misuse, some users are sidestepping domestic restrictions by traveling to Japan for easier access. Despite recent price stabilization in the domestic market, a growing number of South Koreans are turning to Japanese [...]