SEOUL, Aug. 18 (Korea Bizwire) – The presidential office on Monday called for support measures to mitigate the impact from U.S. tariffs on small and medium-sized businesses amid rising trade uncertainties for Korean exporters. Presidential chief of staff Kang Hoon-sik made the call at a senior aides’ meeting, citing sluggish exports of automobiles, steel and [...]
SEOUL, Aug. 18 (Korea Bizwire) — Senior diplomats of South Korea and Britain on Monday agreed to speed up negotiations to upgrade a bilateral free trade agreement (FTA) as part of efforts to expand trade and investment, the foreign ministry said. Second Vice Foreign Minister Kim Jina and Catherine West, parliamentary under secretary of state [...]
SEOUL, Aug. 18 (Korea Bizwire) — Former Justice Minister Cho Kuk, who was released from prison under a presidential pardon last week, said Monday he will apply to rejoin a minor opposition party, signaling that he would run for next year’s local elections. The pardon by President Lee Jae Myung restored Cho’s eligibility to run [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major business groups on Monday called for the parliament to reflect local companies’ voices in the controversial “yellow envelope bill,” which seeks to broaden workers’ rights. “The business community has continuously emphasized the need for sufficient coordination between employers and workers, as the new bill could create [...]
South Korea Moves to Codify ‘Equal Pay for Equal Work’ by 2025, Amid Hurdles to Implementation SEOUL, Aug. 17 (Korea Bizwire) — The South Korean government is set to codify the principle of “equal pay for equal work” into the Labor Standards Act by the end of this year, aiming to implement the policy as [...]
SEOUL, Aug. 17 (Korea Bizwire) — Samsung Electronics reported a decline in first-half revenue from China, citing mounting U.S. sanctions, weakening demand, and intensifying local competition, while sales in the United States grew, buoyed by robust demand from Big Tech firms investing in AI infrastructure. According to the company’s semiannual report released Sunday, Samsung’s exports to [...]
SEOUL, Aug. 15 (Korea Bizwire) – President Lee Jae Myung on Friday received letters of appointment from 80 selected individuals in a symbolic ceremony marking his election victory, pledging to carry out their mandates for a better country. The special event, dubbed the “People’s Mandate Ceremony,” was held on the 80th anniversary of Liberation Day, [...]
SEOUL, Aug. 15 (Korea Bizwire) — President Lee Jae Myung on Friday hosted a dinner with members of the diplomatic corps, seeking their support ahead of his meetings with foreign leaders during South Korea’s hosting of this year’s Asia-Pacific Economic Cooperation (APEC) summit and other upcoming diplomatic engagements. The dinner, held at the former presidential [...]
SEOUL, Aug. 15 (Korea Bizwire) — A heat wave advisory was issued again for Seoul and most of the central region Friday, with high temperatures expected to continue for the time being. The heat wave alert took effect at 11 a.m. in Seoul, the central city of Daejeon and surrounding areas, according to the Korea [...]
SEOUL, Aug. 15 (Korea Bizwire) — An associate of former first lady Kim Keon Hee appeared for a court hearing Friday for his arrest on charges of embezzlement as part of a special counsel probe targeting the former first lady. Kim Ye-seong, known as the “butler” of the former first lady’s family, arrived at the [...]