SEOUL, July 3 (Korea Bizwire) – South Korean financial regulators have imposed a record fine of 27.1 billion won on two subsidiaries of a global investment bank for illegal short-selling practices involving transactions worth approximately 100 billion won. The Financial Services Commission’s Securities and Futures Commission announced on July 3 that it had voted to levy [...]
SEOUL, July 3 (Korea Bizwire) – The Seoul city government said Wednesday it will significantly beef up the strength of pedestrian guardrails and take other safety measures after a deadly car crash that left nine people dead earlier this week. On Monday night, a sedan driven by a 68-year-old darted in the wrong direction for [...]
SEOUL, July 3 (Korea Bizwire) – The number of people demanding the impeachment of President Yoon Suk Yeol surpassed the 1 million mark Wednesday on the National Assembly’s petition website. The petition, calling on the National Assembly to propose a bill on Yoon’s impeachment, gained a daily average of 100,000 signatures over a period of [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Game Rating and Administrative Committee of South Korea has intervened to stop a controversial promotional event by a domestic game developer that offered a luxury car as a prize for its newly launched online game. According to sources familiar with the matter, the committee recently rejected a content modification [...]
SEOUL, Jul. 3 (Korea Bizwire) – The Bank of Korea (BOK) has released a study highlighting the significant economic implications of the impending retirement of South Korea’s second generation of baby boomers. The research suggests that as over 9.5 million individuals born between 1964 and 1974 reach the legal retirement age of 60 over the next [...]
SEOUL, Jul. 3 (Korea Bizwire) – The South Korean government has developed an artificial intelligence (AI) model to determine appropriate treatment periods for workers injured on the job, marking a significant shift in the management of industrial accident claims. The Ministry of the Interior and Safety, in collaboration with the Korea Workers’ Compensation and Welfare Service, [...]
SEOUL, Jul. 3 (Korea Bizwire) – In an unprecedented move, Samsung Electronics’ largest labor union has declared its intention to stage a full-scale strike, raising concerns about potential disruptions at the tech giant’s operations. The National Samsung Electronics Labor Union, representing approximately 28,000 workers or 22% of the company’s workforce, announced on July 1 that wage [...]
SEOUL, Jul. 3 (Korea Bizwire) — President Yoon Suk Yeol on Wednesday announced a 25 trillion-won (US$18 billion) package of support measures for struggling micro business owners, saying providing tailored support is better than universal cash handouts. Yoon unveiled the package during a meeting to discuss the direction of economic policy in the second half, [...]
SEOUL, Jul. 3 (Korea Bizwire) — Senior doctors at Asan Medical Center, one of the five biggest hospitals in Seoul, said Wednesday they will cut procedures and outpatient care starting Thursday, blaming the government for causing disruptions in public health services in the wake of medical reform. Medical professors at the University of Ulsan, who [...]
GWANGJU, Jul. 3 (Korea Bizwire) – In a groundbreaking move, the Gwangju Goryeoin Village in South Korea has launched the country’s first Russian-language emergency alert system, addressing a long-standing communication gap for its ethnic Korean residents from post-Soviet states. On June 22, residents of the Goryeoin Village in Gwangsan District, Gwangju, received their first heavy rain [...]