SEOUL, Sept. 3 (Korea Bizwire) — A government-funded study, quietly withheld during South Korea’s contentious pension reform debate, has surfaced with stark warnings that elderly poverty could worsen dramatically under the current system, raising questions over transparency and policy priorities. The report, produced last December by researchers at the National Pension Research Institute, projected that if the [...]
SEOUL, Sept. 3 (Korea Bizwire) — Korean e-commerce platforms are bracing for shifting consumer behavior after the United States scrapped its longstanding tax exemption on small imports, a move that effectively raises prices for American shoppers buying Korean products. Since Aug. 29, parcels valued under $800 — previously exempt from import duties — have been [...]
GUNSAN, Sept. 3 (Korea Bizwire) — The city of Gunsan in North Jeolla Province said Monday it will begin accepting applications from local farmers to join its 2025 Ecosystem Service Payment Program, designed to secure food and habitat for migratory birds that flock to the Geum River and Mangyeong River estuaries each winter. Under the [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s flagship carmakers and shipbuilders are facing waves of strikes as labor negotiations falter, highlighting rising tensions over wages, retirement policies and corporate restructuring at a time of global economic uncertainty. At Hyundai Motor, the company’s union staged its first walkout in seven years, launching a series of partial [...]
SEOUL, Sept. 2 (Korea Bizwire) — Unionized workers of Samsung Electronics Co. sent a letter to Chairman Lee Jae-yong on Tuesday, demanding the company improve the transparency of its bonus system. In a document sent to the de facto head of Samsung Group, workers demanded the adoption of a more transparent bonus evaluation system and [...]
SEOUL, Sept. 2 (Korea Bizwire) — Hanwha Group said Tuesday its three defense affiliates, including Hanwha Aerospace Co., will participate in an international defense industry exhibition in Poland this week, as the South Korean group spearheads its bid for the Eastern European country’s submarine modernization project. At MSPO 2025, set to be held Tuesday (local [...]
SEOUL, Sept. 2 (Korea Bizwire) — North Korea appears to be working to secure multiple warhead missile capabilities, analysts said Tuesday, after the North unveiled leader Kim Jong-un’s visit to a lab for a new intercontinental ballistic missile (ICBM) under development. Kim inspected the production of a new high-powered solid-fuel engine for ICBMs, saying it [...]
SEOUL, Sept. 2 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering (HD KSOE) Co., a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai Co., launched its first vessel construction project in the Philippines on Tuesday, the company said. The company held a steel-cutting ceremony at HD Hyundai Subic Shipyard in Subic [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korea will expand a pilot program this month aimed at improving the irregular work schedules of nurses, the Ministry of Health and Welfare announced Sunday. Beginning Sept. 1, 94 hospitals and clinics selected through a government review will join the second phase of the initiative, which was first [...]
SEOUL, Sept. 1 (Korea Bizwire) — North Korean leader Kim Jong-un departed Pyongyang on Monday afternoon aboard his special armored train, a source familiar with the matter said, with Kim expected to make his debut on the multilateral diplomatic stage at a military parade in Beijing. “Kim left Pyongyang aboard a train this afternoon and [...]