SEOUL, Aug. 28 (Korea Bizwire) — North Korean leader Kim Jong-un will attend China’s large-scale military parade next week, marking his first trip to China in six years, and his first joint appearance with Chinese President Xi Jinping and Russian President Vladimir Putin, news reports said Thursday. China will hold a high-profile military parade Wednesday [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s financial regulators said Wednesday they will impose significantly harsher penalties on accounting fraud, expanding fines for both companies and executives in an effort to close loopholes that have allowed senior management to escape responsibility. Under the new framework approved by the Securities and Futures Commission, fines for [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korea’s largest companies have sharply increased their reliance on temporary workers over the past four years, raising questions about job stability in one of Asia’s most industrialized economies. According to data released Wednesday by CEO Score, which analyzed quarterly filings from 334 of the country’s top 500 companies [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s parliament has passed a law banning the use of smartphones during class time in elementary, middle and high schools, in an effort to curb youth overdependence on digital devices — though critics argue the measure could prove largely symbolic and even restrictive of students’ rights. The amendment [...]
SEOUL, Aug. 27 (Korea Bizwire) — Naver’s labor union staged its first rally since the passage of the so-called “Yellow Envelope Law,” demanding that the tech giant take direct responsibility for stalled wage negotiations across its subsidiaries. At a demonstration outside Naver’s Green Factory headquarters in Seongnam on Wednesday, workers from six wholly owned or [...]
SEOUL, Aug. 27 (Korea Bizwire) — The veterans ministry said Wednesday it will promote South Korea’s bid to host an international sporting event for wounded service members in 2029 on board a British vessel docked in the southeastern port city of Busan. Veterans Vice Minister Kang Yun-jin and Na Hyeong-yoon, a gold medalist in cycling [...]
SEOUL, Aug. 27 (Korea Bizwire) — The transport ministry said Wednesday it will ban the use of plastic bags for portable battery storage on airplanes and instead require insulation tape as part of an updated in-flight safety measure for battery packs. The revision, set to take effect on Monday, comes after the government introduced a [...]
SEOUL, Aug. 27 (Korea Bizwire) – South Korea and China held a virtual meeting among relevant government officials Wednesday to discuss joint efforts to better respond to illegal fishing in South Korea’s territorial waters, Seoul’s foreign ministry said. The meeting took place to assess recent related developments in China and the current status of illegal [...]
SEOUL, Aug. 27 (Korea Bizwire) — Starting next month, South Korea will strengthen its child support advance payment system to prevent delinquent parents from evading enforcement by making only partial payments, the Ministry of Gender Equality and Family said Tuesday. The program, launched in July 2024, allows the government to provide unpaid child support directly [...]
JEJU, South Korea, Aug. 27 (Korea Bizwire) — Honeybee populations on Jeju Island are collapsing at alarming rates, with local officials and beekeepers warning that climate change has left colonies increasingly vulnerable to disease and pests. According to data released Tuesday by Jeju Province and the Korea Beekeeping Association, a 2022 survey of 157 apiaries [...]