SEJONG, Feb. 25 (Korea Bizwire) — South Korea’s construction industry is facing its worst downturn in years, with employment falling below 2 million workers for the first time since the Covid-19 pandemic, highlighting growing concerns about the broader economic impact of the sector’s prolonged slump. According to the Statistics Korea, construction employment plunged by 169,000 jobs [...]
SEOUL, Feb. 25 (Korea Bizwire) — In an effort to support employees taking parental leave, Doosan Group recently implemented an unusual incentive system designed to reward coworkers rather than just the parents themselves. This year, the company began offering a “Parental Leave Supporter Bonus” of up to 500,000 won ($350) to team members when a [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea will work to develop reference materials for advanced strategic industries, such as semiconductor and battery, by 2028 as part of efforts to strengthen its global competitiveness in the sectors, the industry ministry said Tuesday. The Korean Agency for Technology and Standards (KATS) will be in charge of [...]
SEOUL, Feb. 25 (Korea Bizwire) — The state defense procurement agency signed an initial agreement Tuesday with major shipbuilders Hanwha Ocean Co. and HD Hyundai Heavy Industries Co. to promote cooperation in warship export projects, according to officials. Under the memorandum of understanding (MOU), the three sides will work together to win overseas warship deals, [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korea is set to unveil the prototype of a low observable Wingman unmanned aerial vehicle (UAV) Tuesday, with plans to conduct its first test flight later this year, according to officials at the state-run defense research agency. A ceremony marking the rollout of the prototype, jointly developed by [...]
CHEONAN, South Korea, Feb. 25 (Korea Bizwire) — A bridge collapsed at an expressway construction site in Cheonan on Tuesday, killing three workers and injuring five others, authorities said. The accident occurred at around 9:50 a.m. in the city some 80 kilometers south of Seoul during construction on a section of the Seoul-Sejong expressway. Five [...]
SEOUL, Feb. 25 (Korea Bizwire) — The Seoul Metropolitan Government has announced plans to become the first local government in South Korea to develop and publish a “coexistence index” that will evaluate delivery platforms on their commitment to fair business practices and cooperation with small businesses. The initiative, aimed at curbing excessive commission fees and preventing [...]
SEOUL, Feb. 25 (Korea Bizwire) — A high-ranking delegation from North Korea’s Workers’ Party has arrived in Moscow for a visit at the invitation of Russia’s ruling party, state media reported Tuesday. The delegation, led by Ri Hi-yong, a member of the party’s Central Committee Politburo, landed in Moscow the previous day at the invitation [...]
SEOUL, Feb. 25 (Korea Bizwire) — Even as anti-China protests have intensified amid South Korea’s presidential impeachment crisis, Chinese tourism has experienced an unexpected boom, with travel numbers surging more than 60% following China’s visa-free policy implementation. According to data obtained from the Ministry of Justice by lawmaker Park Eun-jung of the Rebuilding Korea Party, 647,901 [...]
SEOUL, Feb. 24 (Korea Bizwire) — In a prestigious mathematics academy in Seoul’s affluent Daechi-dong district, known as South Korea’s “education capital,” an admission question for elementary students recently read: “How many times does the digit ’1′ appear in the sum of the series 9+99+999+…+99999999999999999999 (twenty 9s)?” This was part of the academy’s notoriously difficult [...]