SEOUL, Jan. 28 (Korea Bizwire) – President Lee Jae Myung on Wednesday proposed the idea of imposing a “sugar levy” to help curb sugar intake and bolster public health care funding, citing a similar levy on tobacco. Lee made the remark on X, formerly Twitter, as he posted a news article citing a survey that [...]
SEOUL, Jan. 28 (Korea Bizwire) — Labor unrest is intensifying at GM Korea as the automaker presses ahead with plans to shut down its company-run repair centers, prompting protests, legal action and growing concerns over disruptions to customer service. The dispute centers on GM Korea’s decision, announced last year, to close all nine of its directly [...]
SEOUL, Jan. 28 (Korea Bizwire) – A new platform based on artificial intelligence (AI) has prevented some 19 billion won (US$13 million) in financial losses from voice phishing scams over the past three months, the financial regulator said Wednesday. The country launched the platform, dubbed the AI-based Phishing Sharing and Analysis Platform (ASAP), in late [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s antitrust regulator is moving to tighten disclosure rules for franchise operators, requiring them to provide prospective store owners with clearer and more detailed information about business risks before contracts are signed. The Fair Trade Commission said Wednesday that it has begun the legislative and administrative process to revise [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s government on Wednesday unveiled a new package of information security measures that would require companies to notify users even when a personal data leak has not occurred but is deemed possible, reflecting a tougher regulatory stance in the wake of repeated cybersecurity incidents. Under the plan, firms will [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s National Assembly is moving closer to passing a revision of the Pharmaceutical Affairs Act that would bar telemedicine platforms from operating as drug wholesalers, a measure that has emerged as one of the most contested health policy debates of the new year. Lawmakers and health authorities are pressing [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s central bank has slipped another place in the global rankings of official gold holdings, underscoring its long-standing reluctance to add bullion even as prices surge to record highs. According to a report released Tuesday by the World Gold Council, the Bank of Korea held 104.4 metric tons of [...]
SEOUL, Jan. 27 (Korea Bizwire) — The South Korean government has received a letter from the United States raising concerns over Seoul’s push to tighten digital regulations, officials said Tuesday, as questions grow over whether the issue has become entangled in a widening trade dispute between the two allies. The letter, sent about two weeks ago [...]
BEIJING, Jan. 27 (Korea Bizwire) – China’s foreign ministry said Tuesday that work is in progress to remove part of the steel structures built in the overlapping waters of the Yellow Sea with South Korea. A Chinese company is carrying out the work related to removing the management platform, an autonomous operation in progress led [...]
ULSAN, Jan. 27 (Korea Bizwire) — A South Korean court on Tuesday acquitted former labor union leaders at HD Hyundai Heavy Industries who had removed facial-recognition access equipment from the company’s shipyard, ruling that their actions constituted a legitimate response to an imminent violation of workers’ rights. The Ulsan District Court found 13 former officials [...]