SEOUL, Sept. 22 (Korea Bizwire) — When North Korean leader Kim Jong-un told his parliament last weekend that he still holds a “good memory” of U.S. President Donald Trump, it was more than a nostalgic aside. It was the first public hint in years that Pyongyang could contemplate returning to the table with Washington—provided, Kim [...]
SEOUL, Sept. 22 (Korea Bizwire) — Prime Minister Kim Min-seok said Monday the government will overhaul data protection systems at telecoms and financial companies following a series of security breaches at mobile carriers and a credit card issuer. Kim made the remark during an emergency government meeting convened to discuss responses to the hacking incidents [...]
GANGNEUNG, Sept. 22 (Korea Bizwire) — In Gangneung, where South Korea declared its first-ever “state of disaster” caused by drought, a group of local young people has organized under the unlikely name “Toilet Demon Hunters.” Their mission is both urgent and practical: teaching citizens how small changes in daily habits can conserve vast amounts of water. The [...]
SEOUL, Sept. 17 (Korea Bizwire) —South Korea’s foreign minister on Friday sought to draw a fine line between the country’s massive investment commitments in the United States and the fallout from a U.S. immigration raid that detained hundreds of Korean workers, saying the visa dispute is not a formal condition for the projects but will [...]
SEOUL, Sept. 19 (Korea Bizwire) — Industry Minister Kim Jung-kwan said Friday the government will introduce a new export guarantee program worth around 400 billion won (US$290 million) for the steel industry faced with steep tariffs from the United States. Kim made the remarks during a meeting with top executives of major steel companies, including [...]
GOYANG, South Korea, Sept. 19 (Korea Bizwire) — A South Korean court has ruled that members of a virtual idol group are entitled to damages over defamatory online comments, marking a significant precedent in how the law treats avatars in the digital age. On May 17, the Uijeongbu District Court’s Goyang branch ordered an individual, [...]
UIJEONGBU, South Korea, Sept. 19 (Korea Bizwire) – Migrant workers in South Korea without bank accounts will now be able to receive workplace injury compensation in cash, following a policy shift by the Ministry of Employment and Labor. The ministry adopted the change earlier this month after a recommendation from Gyeonggi Province, officials said Thursday. [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s biggest business families stand to see their dividend tax bills fall by more than 12 percent under the government’s new tax reform, which grants breaks to shareholders of companies classified as “high-dividend.” According to a study released Wednesday by corporate research firm CEO Score, 87 out of [...]
SEOUL, Sept. 18 (Korea Bizwire) — The U.S. Federal Reserve’s decision to lower its benchmark interest rate for the first time under President Donald Trump is fueling cautious optimism in Seoul’s financial markets, with analysts predicting improved liquidity and renewed foreign inflows — but also warning of lingering risks tied to trade negotiations. On Wednesday [...]
SEOUL, Sept. 18 (Korea Bizwire) — Hanwha Aerospace Co. is poised to sign an additional contract with Norway to supply 24 K9 self-propelled howitzers, defense industry sources said Thursday. The South Korean defense giant is expected to finalize the agreement soon with the Norwegian Defense Materiel Agency, according to the sources. A company official declined [...]