SEJONG, August 6 (Korea Bizwire) — South Korea’s elderly workforce continues to grow, with the number of economically active people aged 55 to 79 surpassing 10 million for the first time, fueled by longer life expectancies, rising living costs, and inadequate pension income, according to new government data released Tuesday. The report, published by Statistics [...]
SEOUL, Aug. 6 (Korea Bizwire) — In a bold fusion of diplomacy and pop culture, South Korea’s Ministry of Agriculture, Food and Rural Affairs has drawn attention online by promoting an upcoming global food security summit with a viral video inspired by a hit Netflix animation. The ministry’s spokesperson, Jeon Han-young, dressed as “Abby,” a lion [...]
SEOUL, Aug. 6 (Korea Bizwire) — South Korea has entered a new era of trade uncertainty as the United States officially begins implementing President Donald Trump’s “reciprocal tariffs” policy, levying a 15% duty on a wide array of Korean exports starting midnight on August 7 Eastern Time. The tariffs, part of Trump’s broader strategy to realign [...]
SEOUL, Aug. 6 (Korea Bizwire) — As environmental, social and governance (ESG) principles become more embedded in Korean business and society, a growing number of young consumers—particularly Generation Z—are aligning their purchasing behavior with personal values and ethical considerations. According to a recent survey released by the Korea Chamber of Commerce and Industry (KCCI) on [...]
SEOUL, Aug. 6 (Korea Bizwire) — President Lee Jae-myung on Wednesday ordered a sweeping investigation and potential punitive measures against POSCO E&C, following a series of fatal industrial accidents at the company’s worksites this year. Speaking after yet another serious accident at a POSCO E&C construction site left a worker unconscious earlier this week, President [...]
SEOUL, Aug. 6 (Korea Bizwire) — In a striking blend of technology and remembrance, AI-generated videos are breathing new life into Korea’s long-deceased independence fighters, captivating millions across social media platforms. From a smiling Yu Gwan-sun biting into a watermelon by a mountain stream to a tearful Yun Dong-ju quietly gazing into the distance, the [...]
SEOUL, August 6 (Korea Bizwire) — South Korea’s Supreme Court has ruled that Sungdo ENG, the parent company of Chinese contractor Sungdo Construction, must pay damages — including delayed interest — to a group of Chinese insurers over a 2013 fire at SK Hynix’s semiconductor plant in Wuxi, China. The fire, which broke out in [...]
SEOUL, Aug. 6 (Korea Bizwire) — HD Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Wednesday it has secured a maintenance, repair and overhaul (MRO) project for a U.S. Navy cargo ship. The company will carry out the MRO work on the USNS Alan Shepard (T-AKE-3), a 41,000-ton Lewis and Clark-class dry cargo vessel, [...]
SEOUL, August 6 (Korea Bizwire) — South Korea’s top 100 publicly listed companies have significantly ramped up shareholder returns, with total payouts rising by more than 35% over the past two years, according to new data released Wednesday by corporate tracker CEO Score. The report found that shareholder returns — including dividends and share buybacks [...]
SEOUL, August 6 (Korea Bizwire) — At a recent evening lecture in Seoul’s Sejong Center, an unlikely figure captivated a Korean audience with insights into traditional Korean aesthetics. Mark Tetto, an American-born investor and television personality, offered a foreign perspective on the minimalist beauty embedded in Korean art — and how it manifests in Ilmu, a [...]