SEOUL, Sept. 8 (Korea Bizwire) — A decades-long tax dispute over royalties paid by South Korean companies to U.S. patent holders is heading into a critical new phase, as the nation’s Supreme Court considers whether to alter its long-standing stance that has largely exempted American firms from local taxation. At issue is whether royalties paid [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korean retailers are bracing for the return of Chinese tour groups, set to enter visa-free from September 29, by rolling out fresh promotions and diversifying their product lineups beyond luxury cosmetics to fashion, lifestyle and even convenience store exclusives. In the mid-2010s, Chinese “Youke” travelers became synonymous with [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s National Pension Service (NPS), one of the world’s largest institutional investors, has been navigating a delicate balance between maximizing shareholder returns and advancing responsible investment in its recent voting at foreign corporate annual meetings. According to filings with the U.S. Securities and Exchange Commission and its own [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korean health supplement companies are intensifying their push overseas as slowing demand at home contrasts with rising global appetite for wellness products. Industry data show exports have climbed steadily since the pandemic, hitting a record 382.1 billion won ($280 million) last year, nearly triple the 2019 figure. By [...]
SEOUL, Sept. 8 (Korea Bizwire) — A silent, vacant look from younger workers — dubbed the “Gen Z Stare” — is rattling South Korean campuses and offices, becoming a flashpoint in the country’s ongoing debate over generational communication. The term, which fuses “Gen Z” with “stare,” describes the expressionless gaze of young people born between [...]
SEOUL, Sept. 8 (Korea Bizwire) — In a landmark ruling, South Korea’s Supreme Court has upheld the authority of domestic courts to punish foreign corporations under so-called “dual liability” provisions, affirming that overseas companies can face criminal penalties if their employees commit trade secret violations within Korea. The decision came in a case involving Everlight, a [...]
SEOUL, Sept. 8 (Korea Bizwire) — For the first time, older workers now make up a larger share of full-time employees at South Korea’s major corporations than younger recruits, underscoring the deepening generational divide in the country’s labor market. A report released Sunday by the Korea Employers Federation found that employees aged 55 to 59 in [...]
DAEJEON, Sept. 8 (Korea Bizwire) — Scientists in South Korea have unveiled a skin patch that can precisely track metabolic changes in the body using nothing more than sweat, offering a potential alternative to invasive blood tests. The Korea Advanced Institute of Science and Technology (KAIST) said Sunday that a team led by Professor Jeong [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s postal service is preparing a sweeping overhaul of its customer-facing operations, with plans to embed artificial intelligence across mail and financial services in an effort to modernize delivery, ease staffing shortages and improve efficiency. The Korea Post said Sunday it will commission a consulting project next year to [...]
WASHINGTON SEOUL, Sept. 6 (Korea Bizwire) — President Donald Trump on Friday defended the large-scale immigration raid at a Hyundai Motor–LG Energy Solution battery plant site in Georgia, describing it as routine enforcement even as the operation threatened to strain ties with South Korea. Speaking a day after 475 construction workers were detained, Trump said, [...]