SEOUL, Oct. 16 (Korea Bizwire) — Household lending in South Korea grew at its slowest pace in six months in September, new data showed Thursday, as tougher regulations and seasonal factors cooled borrowing amid renewed efforts to rein in housing prices and rising household debt. According to the Bank of Korea, household loans extended by banks [...]
SEOUL, Oct. 16 (Korea Bizwire) — After years entangled in one of South Korea’s most high-profile divorce battles, SK Group Chairman Chey Tae-won appears ready to turn his attention back to business. The Supreme Court on Thursday ordered a review of the massive divorce settlement previously imposed on him, easing concerns over a potential shakeup at [...]
SEOUL, Oct. 16 (Korea Bizwire) — Two of South Korea’s largest music copyright organizations are locked in a legal dispute over more than 100 billion won (about $72 million) in so-called “residual royalties” collected from YouTube — funds generated from music whose rights holders were unidentified or failed to claim payment in time. The Korea Music [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s financial regulator has launched an on-site inspection into securities firms and banks accused of mis-selling a 90 billion won ($65 million) investment product that collapsed entirely, marking the first major consumer protection probe under the leadership of newly appointed Financial Supervisory Service (FSS) Governor Lee Chan-jin. The FSS [...]
SEOUL, Oct. 16 (Korea Bizwire) — Despite six years under South Korea’s workplace bullying ban, nearly one in three employees who experience or witness such abuse choose not to report it, often fearing retaliation or reputational harm, a new government survey shows. According to data obtained by Rep. Kim Wi-sang of the People Power Party from [...]
DAEGU, Oct. 16 (Korea Bizwire) — The recent killing of a South Korean college student from Yecheon, North Gyeongsang Province, in Cambodia has shed new light on how young Koreans are being lured overseas by criminal networks with false promises of easy money, court records show. A Daegu District Court ruling issued in May detailed the [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korean police say recent criminal investigations have exposed a growing use of virtual assets to launder the proceeds of large-scale frauds, reigniting debate over the need for stronger oversight as authorities and industry consider expanding the use of digital currencies, including won-pegged stablecoins. The Ulsan Police Agency disclosed [...]
SEOUL, Oct. 15 (Korea Bizwire) — LG Electronics’ laptop brand Gram has been named the best notebook of the year by Consumer Reports, beating out models from Apple and Samsung in a comprehensive evaluation of 154 devices sold in the U.S. market. According to rankings released Wednesday, the LG Gram Pro 2-in-1 — marketed in [...]
SEOUL, Oct. 15 (Korea Bizwire) — Samsung Electronics on Wednesday marked White Cane Safety Day by unveiling an artificial intelligence–based user manual designed to help visually impaired and low-vision users operate home appliances more easily. The new guide, titled “Manual for All,” was developed in collaboration with TUAT, a startup specializing in visual-assistance technology that was [...]
JEJU, Oct. 15 (Korea Bizwire) — Jeju Island will host an eco-themed camping and cooking festival powered entirely by renewable energy from local wind farms, as part of efforts to promote carbon neutrality and sustainable living. The two-day RE100 Camping & Cook Festa will take place on October 18–19 at the Dongbok and Bukchon wind power [...]