SEOUL, April 2 (Korea Bizwire) — Once fierce competitors in the global auto industry, South Korea and Japan may now find common ground as shifting geopolitical landscapes and the digital transformation of mobility open new paths for cooperation, a new report suggests. In its latest analysis titled “Strategies and Implications for Japan’s Auto Industry in an [...]
SEOUL, April 2 (Korea Bizwire) — The United States’ plan to impose25 percent tariffs on imported automobiles starting this week has ignited concerns over the long-term stability of GM Korea Co., the South Korean unit of General Motors (GM) Co., raising the possibility of its potential withdrawal from South Korea, industry observers noted Wednesday. GM’s [...]
SEOUL, April 2 (Korea Bizwire) — South Korea officially launched a support program Wednesday for foreigners with expertise in advanced technologies who wish to work in the country that includes a special visa for such foreign talent, a move aimed at enhancing the competitiveness of local advanced industries. The so-called K-Tech Pass program has been [...]
Seeks to Boost Exports Fivefold and Create Global Veterinary Drug Champions SEOUL, April 2 (Korea Bizwire) — South Korea will work to triple the size of the animal medicine market to 4 trillion won (US$2.7 billion) by 2035 as part of efforts to foster new growth engines for the economy, the agriculture ministry said Wednesday. [...]
ANDONG•YEONGYANG, South Korea, April 2 (Korea Bizwire) — As South Korea continues to assess the devastation caused by last month’s historic wildfires across five counties in North Gyeongsang Province—Uiseong, Andong, Yeongyang, Cheongsong, and Yeongdeok—stories of overlooked victims are beginning to emerge, particularly among the region’s foreign residents. According to the Ministry of Justice, more than 6,000 foreign nationals, [...]
SEOUL, April 2 (Korea Bizwire) — Supplements marketed as promoting hair growth and preventing hair loss—particularly those containing brewer’s yeast and biotin—have no scientific basis for their claims, according to a new investigation by South Korea’s consumer watchdog. The Korea Consumer Agency (KCA) announced on Tuesday that it reviewed 30 hair health products sold online and [...]
SEOUL, April 1 (Korea Bizwire) — Major palaces in Seoul will be closed Friday as a precautionary measure when the Constitutional Court delivers its verdict on President Yoon Suk Yeol’s impeachment over his short-lived martial law bid. For safety reasons, Gyeongbok, Changdeok and Deoksu palaces will all shut down for the day, the Korea Heritage [...]
SEOUL, April 1 (Korea Bizwire) — The United States appears to have unexpectedly included South Korea’s defense offset program in an annual trade barrier report in a bid to possibly use it as a bargaining chip for future defense trade deals with Seoul, observers said Tuesday. On Monday, the Office of the U.S. Trade Representative [...]
SEOUL, April 1 (Korea Bizwire) — The Constitutional Court said it will deliver its ruling on President Yoon Suk Yeol’s impeachment over his short-lived martial law bid at 11 a.m. Friday. The verdict will be delivered from the court and live broadcasts will be allowed, along with attendance by the public, the court said in [...]
SEOUL, April 1 (Korea Bizwire) — A recent South Korean Supreme Court ruling requiring companies to include conditional regular bonuses in base wages is placing significant financial pressure on employers, particularly smaller firms, according to a new survey released Sunday by the Korea Chamber of Commerce and Industry (KCCI). The emergency survey, conducted 100 days after [...]