SEOUL, Aug. 13 (Korea Bizwire) — A lawyer who previously defended President Lee Jae Myung in his corruption trials was nominated as the new chief of South Korea’s financial watchdog Wednesday. The Financial Services Commission (FSC) said it nominated lawyer Lee Chan-jin as the new governor of the Financial Supervisory Service (FSS) in an extraordinary [...]
SEOUL, Aug. 13 (Korea Bizwire) — President Lee Jae Myung nominated new education and gender equality ministers as well as the heads of the nation’s corporate watchdog and financial regulator Wednesday, the presidential office said. Choi Kyo-jin, superintendent of the Sejong City Office of Education, was named education minister, presidential chief of staff Kang Hoon-sik [...]
SEOUL, Aug. 13 (Korea Bizwire) — Jailed former first lady Kim Keon Hee will appear for questioning by a special counsel team Thursday, less than two days after her arrest over corruption allegations. Special counsel Min Joong-ki’s team said Wednesday it was informed by Seoul Southern Detention Center, where Kim was placed in custody earlier [...]
SEOUL, Aug. 13 (Korea Bizwire) — HD Hyundai, South Korea’s leading shipbuilding group, said Wednesday that senior government officials from South Korea and the United States visited its shipyard to discuss ways to expand bilateral cooperation in the shipbuilding sector ahead of a summit between their top leaders. Foreign Minister Cho Hyun; Joseph Yun, acting [...]
SEOUL, Aug. 13 (Korea Bizwire) – President Lee Jae Myung will visit Japan from Aug. 23-24 for summit talks with Japanese Prime Minister Shigeru Ishiba to discuss ways to advance bilateral relations and trilateral partnership with the United States, the presidential office said Wednesday. Lee will make a two-day visit to Japan before traveling to [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s transport ministry said Wednesday it has introduced a new system with the U.S. Transportation Security Administration (TSA) allowing air travelers from Incheon to Atlanta to connect to onward flights without having to reclaim and recheck their baggage. The ministry said it has begun implementing an international remote [...]
SEOUL, Aug. 13 (Korea Bizwire) — Samsung Display Co. has virtually won a U.S. lawsuit against BOE Technology Group Co., with Washington’s trade watchdog imposing a near 15-year import ban on the Chinese rival’s organic light-emitting diode (OLED) panels, sources said Wednesday. According to the sources, the U.S. International Trade Commission (ITC) made a preliminary [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s antitrust regulator has fined the operator of Burger King Korea 300 million won ($217,000) for forcing franchisees to buy tomatoes and cleaning products from designated suppliers without proper disclosure — even imposing penalties up to store closure for noncompliance. The Fair Trade Commission (FTC) said on Wednesday it [...]
SEOUL, Aug. 13 (Korea Bizwire) — Starting August 14, nearly 3.07 million credit card merchants in South Korea with annual sales of 3 billion won ($2.18 million) or less will benefit from reduced processing fees, the Financial Services Commission (FSC) announced Wednesday. The move extends preferential rates to most small businesses, including those designated as [...]
SEOUL, Aug. 13 (Korea Bizwire) — A majority of indoor and outdoor labor sites in South Korea — from logistics centers to waste collection routes — are operating under extreme heat conditions well above the official safety threshold, according to a labor union survey released on Wednesday. The Korean Public Service and Transport Workers’ Union (KPTU) [...]