JEJU, South Korea, May 16 (Korea Bizwire) — South Korea has again asked the United States to exempt the country from all tariffs, Seoul’s Industry Minister Ahn Duk-geun said Friday, after meeting with U.S. Trade Representative Jamieson Greer on the sidelines of a trade ministers’ meeting of the Asia-Pacific Economic Cooperation (APEC) member economies. In [...]
JEJU, South Korea, May 16 (Korea Bizwire) — Trade ministers of the Asia-Pacific Economic Cooperation (APEC) on Friday reaffirmed the importance of the World Trade Organization (WTO) in addressing global trade issues amid escalating uncertainties sparked by growing protectionism. The trade chiefs of the Asia-Pacific region reached such a consensus in a joint statement unanimously [...]
SEOUL, May 16 (Korea Bizwire) — A former employee of a South Korean semiconductor supplier has been arrested and indicted for allegedly attempting to leak advanced chip packaging technology overseas, police said Friday. The suspect, a man in his 40s identified only as Kim, was taken into custody on May 9 at Incheon International Airport [...]
SEOUL, May 16 (Korea Bizwire) – The chief executive officers (CEOs) of HD Hyundai and Hanwha Ocean Co., South Korea’s major shipbuilders, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the companies said Friday. HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul had separate meetings [...]
SEOUL, May 16 (Korea Bizwire) — South Korea’s rapidly increasing number of elderly self-employed workers—driven by baby boomer retirements and limited reemployment options—is emerging as a structural risk to the country’s financial stability and long-term economic growth, the Bank of Korea (BOK) said in a joint report with the Korea Development Institute (KDI) on Thursday. Released [...]
SEOUL, May 16 (Korea Bizwire) — A South Korean appeals court has upheld a lower court ruling rejecting a lawsuit by a man seeking disability registration despite having a borderline intelligence quotient (IQ) score, reigniting debate over legal protections for individuals with mild cognitive impairments. On Thursday, the Seoul High Court dismissed an appeal by a [...]
SEOUL, May 16 (Korea Bizwire) — As South Korea’s National Health Insurance Service (NHIS) prepares for the final appeal hearing in its landmark ₩53.3 billion ($39 million) lawsuit against tobacco companies, a new survey shows that nearly two-thirds of Koreans believe cigarette makers should be held financially responsible for medical costs linked to lung cancer. The [...]
SEOUL, May 15 (Korea Bizwire) — The Personal Information Protection Commission (PIPC) of South Korea has imposed a ₩1.36 billion (approximately $990,000) fine on Chinese e-commerce platform Temu for violating the country’s data protection laws, including the unauthorized overseas transfer of personal data belonging to South Korean users. The penalty, announced on May 15, comes [...]
SEOUL, May 15 (Korea Bizwire) — In a bid to ease mounting labor shortages in its service industry, the South Korean government announced Thursday an expansion of permissible job roles for foreign workers under the Employment Permit System (E-9 visa), particularly in delivery services, restaurants, and the hospitality sector. At the 47th Foreign Workforce Policy [...]
SEOUL, May 15 (Korea Bizwire) — Choi Jung-wha, professor emeritus at the Hankuk University of Foreign Studies (HUFS) and president of the Corea Image Communication Institute (CICI), became the first Korean woman to be awarded the Officier grade of the Legion of Honor, France’s highest order of merit. According to the institute, Choi received the [...]