CHANGWON, Nov. 6 (Korea Bizwire) — A South Korean court has fined a woman for verbally insulting a parking attendant, telling her that her pet dog was “more expensive” than the worker. The Changwon District Court on Wednesday ordered the woman, identified only as a woman in her 20s, to pay a fine of 1.5 [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea’s ruling party is moving swiftly to legislate an extension of the retirement age to 65 by the end of the year, backed by the nation’s two largest labor unions. But the country’s major business groups are warning that the proposal could amplify management uncertainty and deepen structural problems [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea’s top financial regulator vowed Wednesday to reconsider compensation standards for investors in the so-called Belgian Fund scandal if evidence of mis-selling is confirmed, as part of a broader push to strengthen consumer protection in the financial sector. Lee Chan-jin, governor of the Financial Supervisory Service (FSS), made the [...]
SEOUL, Nov. 5 (Korea Bizwire) – The number of South Koreans that remain economically inactive rose from a year earlier in 2025, amid a steady increase in the number of people who say they have no particular reason for not working, government data showed Wednesday. A total of 16.22 million individuals had remained economically inactive [...]
SEOUL, Nov. 5 (Korea Bizwire) — South Korea plans to invest more than 900 billion won, or about $622 million, over the next seven years to develop advanced medical devices that officials described as “game-changing,” the Ministry of Trade, Industry and Resources said Wednesday. Under the initiative, which runs from 2025 through 2030, the government will [...]
SEOUL, Nov. 5 (Korea Bizwire) — Defense Minister Ahn Gyu-back signaled support on Wednesday for constructing South Korea’s first nuclear-powered submarine at a domestic shipyard, arguing that the nation’s decades of shipbuilding expertise make it capable of managing such an ambitious defense project. The comments come amid Seoul’s accelerating pursuit of a nuclear-powered submarine fleet—a capability [...]
DAEJEON, Nov. 5 (Korea Bizwire) — More than 100 South Korean teenagers voluntarily confessed to online gambling and sought help through a police-led rehabilitation program in Daejeon over the past year, according to police data released Tuesday. The Daejeon Metropolitan Police Agency said that between November last year and October this year, 109 students — including [...]
SEOUL, Nov. 5 (Korea Bizwire) — Xiaomi announced Tuesday that it will launch a special discount event for its flagship smartphone, the Xiaomi 15 Ultra, after Chinese President Xi Jinping presented the device to South Korean President Lee Jae-myung during their recent summit. Xiaomi Korea said it was “honored” that one of its latest flagship models [...]
SEOUL, Nov. 5 (Korea Bizwire) — The price of stolen South Korean credit card information traded on the dark web has more than doubled over the past two years, reflecting rising demand among cybercriminals despite stronger global security measures, a new report found. According to cybersecurity firm NordVPN, data collected in May from its threat monitoring [...]
SEOUL, Nov. 4 (Korea Bizwire) — South Korea’s Cabinet approved a series of legislative revisions on Tuesday, including a law aimed at preventing “emergency room carousel” (being repeatedly sent from one ER to another) and protecting civil servants who take proactive administrative action. The revised Emergency Medical Service Act requires hospitals to set up dedicated phone [...]