SEOUL, Dec. 7 (Korea Bizwire) — Four major financial firms will likely see their interest income decrease for the first time since 2020 this year due to tighter lending rules aimed at curbing surging housing prices, data showed Sunday. KB Financial Group, Shinhan Financial Group, Hana Financial Group and Woori Financial Group are expected to [...]
SEOUL, Dec. 6 (Korea Bizwire) — Both the United States and China have quietly omitted references to the “denuclearization of the Korean Peninsula” from major national security documents released in recent weeks, raising speculation over whether the two most influential actors in nuclear diplomacy with Pyongyang are recalibrating their approach. The omission in Washington was notable. [...]
SEOUL, Dec. 6 (Korea Bizwire) — The government unveiled plans Saturday to toughen the management and screening process for the state-certified information security system amid growing personal data breaches at authorized companies, such as Coupang. The Personal Information Protection Commission and the Ministry of Science and ICT discussed the measures during an interagency meeting earlier [...]
SEOUL, Dec. 6 (Korea Bizwire) — A sweeping shift in American national security priorities — from reasserting influence in the Western Hemisphere to elevating Taiwan’s defense and omitting North Korea’s denuclearization — is prompting fresh debate in Seoul over what the changes signal for South Korea’s security role in Asia. The White House on Thursday [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea has moved to close a long-criticized legal loophole that allowed parents who abandoned or failed to care for their children to later claim financial benefits after the child’s death. The National Assembly has passed an amendment to the National Pension Act that blocks such parents from receiving survivor [...]
SEOUL, Dec. 5 (Korea Bizwire) — The government on Friday launched an interagency resource security council to beef up the country’s response capabilities against supply chain disruptions and stabilize management of critical resources, the industry ministry said. The council was established to bolster South Korea’s security in resources that play a crucial role for advanced [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korean e-commerce giant Coupang is facing intensifying scrutiny after a major data leak revealed that significant portions of its Korean-language service were built and maintained by foreign developers, including sizable teams based in China. The primary suspect in the breach is a former Chinese employee who worked on the [...]
SEOUL, Dec. 5 (Korea Bizwire) — More than half of South Koreans watch news on YouTube every day, and a growing share now views content produced by non-traditional creators — individuals and small businesses — as legitimate news media, according to new research presented at a national policy forum on Thursday. The survey, conducted in August [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea will soon allow health authorities to obtain real-time information on medical staffing at hospitals and clinics during national emergencies, under a revised law passed by the National Assembly this week. The amendment to the Health and Medical Workforce Support Act, approved on December 2 and set to take [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korean authorities have concluded that artificial intelligence systems that train on entire news articles or textbooks without permission are infringing copyright, marking the government’s strongest stance yet on data use in the AI era. At a public briefing on Thursday, the Ministry of Culture, Sports and Tourism and the [...]