SEOUL, Sept. 8 (Korea Bizwire) — The defense chiefs of South Korea and Japan on Monday agreed to strengthen security cooperation and explore the possibility of cooperation in high-tech sectors, such as artificial intelligence (AI) and drones, the defense ministry said. Defense Minister Ahn Gyu-back and his Japanese counterpart, Gen Nakatani, reached the consensus as [...]
SEOUL, Sept. 8 (Korea Bizwire) — Defense giant Hanwha Aerospace Co. said Monday it has signed a 270 billion-won (US$194.1 million) deal with the state arms procurement agency to mass produce explosive detection robots starting this year. Under the agreement with the Defense Acquisition Program Administration (DAPA), the remote-controlled robots will be capable of detecting [...]
SAVANNAH, Ga., Sept. 8 (Korea Bizwire) — The workday had barely begun when phones began buzzing in unison at Hyundai Motor Group and LG Energy Solution’s sprawling battery plant construction site in Georgia. A text message appeared: stop work immediately. Within minutes, federal agents from Immigration and Customs Enforcement and Homeland Security Investigations swept across the [...]
SEOUL, Sept. 8 (Korea Bizwire) — A decades-long tax dispute over royalties paid by South Korean companies to U.S. patent holders is heading into a critical new phase, as the nation’s Supreme Court considers whether to alter its long-standing stance that has largely exempted American firms from local taxation. At issue is whether royalties paid [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s National Pension Service (NPS), one of the world’s largest institutional investors, has been navigating a delicate balance between maximizing shareholder returns and advancing responsible investment in its recent voting at foreign corporate annual meetings. According to filings with the U.S. Securities and Exchange Commission and its own [...]
SEOUL, Sept. 8 (Korea Bizwire) — In a landmark ruling, South Korea’s Supreme Court has upheld the authority of domestic courts to punish foreign corporations under so-called “dual liability” provisions, affirming that overseas companies can face criminal penalties if their employees commit trade secret violations within Korea. The decision came in a case involving Everlight, a [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s postal service is preparing a sweeping overhaul of its customer-facing operations, with plans to embed artificial intelligence across mail and financial services in an effort to modernize delivery, ease staffing shortages and improve efficiency. The Korea Post said Sunday it will commission a consulting project next year to [...]
WASHINGTON SEOUL, Sept. 6 (Korea Bizwire) — President Donald Trump on Friday defended the large-scale immigration raid at a Hyundai Motor–LG Energy Solution battery plant site in Georgia, describing it as routine enforcement even as the operation threatened to strain ties with South Korea. Speaking a day after 475 construction workers were detained, Trump said, [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s gender wage gap at publicly listed companies grew wider last year, even as the gap in average tenure between men and women narrowed, according to new government data. An analysis of 2,980 corporate annual reports for 2024, released Friday by the Ministry of Gender Equality and Family, [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea’s judiciary is bracing for what many judges describe as the most sweeping attempt at judicial reform in decades, as the Supreme Court moves to gather the views of court leaders nationwide ahead of legislation being advanced by the ruling Democratic Party. The Supreme Court announced that it will [...]