SEOUL, July 30 (Korea Bizwire) — Foreign companies operating in South Korea are voicing strong opposition to the so-called “Yellow Envelope Law,” warning it could significantly raise legal risks and operational burdens — with some even suggesting they may reconsider their presence in the country if the bill passes. The legislation, led by the ruling [...]
SEOUL, July 30 (Korea Bizwire) — In a bold bid to restore confidence in South Korea’s financial markets, regulators have launched a new joint task force designed to swiftly identify and stamp out illegal stock trading practices. The team, which officially began operations Wednesday, brings together officials from the Financial Services Commission (FSC), the Financial [...]
SEOUL, July 30 (Korea Bizwire) — More than 100 Gyeonggi Province residents have received compensation through the region’s pioneering climate insurance program, as record heatwaves continue to drive a sharp rise in heat-related illnesses. As of July 28, the Gyeonggi Provincial Government reported a total of 110 insurance payouts: 60 cases related to heat illness, [...]
Seoul, July 30 (Korea Bizwire) — South Korea’s Ministry of National Defense has introduced a revised executive order that would allow military officers, including colonels, to be promoted for acts of integrity — such as refusing unlawful or improper commands during the controversial December 3 martial law planning incident. The amendment to the Enforcement Decree [...]
SEOUL, July 30 (Korea Bizwire) — South Korean employees are spending an estimated 25.1 billion hours annually on repetitive administrative work, including data management and routine reporting, according to a global survey released Monday by Dropbox in partnership with polling firm YouGov. The survey, which included over 10,000 full- and part-time workers across seven countries [...]
SEOUL, July 30 (Korea Bizwire) — South Korea’s convenience store chains reported double-digit sales growth in the first week following the rollout of government-issued consumption coupons, with customers increasingly turning to nearby stores for everyday shopping. According to industry data released Tuesday, the four major operators — CU, GS25, 7-Eleven, and Emart24 — saw weekly [...]
SEOUL, July 29 (Korea Bizwire) — POSCO E&C’s chief executive publicly apologized on Tuesday following a series of fatal industrial accidents at company construction sites, drawing sharp rebuke from President Lee Jae-myung, who likened the repeated deaths to “murder by willful negligence.” At a press conference held at the company’s headquarters in Incheon’s Songdo district, CEO [...]
SEOUL, July 29 (Korea Bizwire) — President Lee Jae Myung on Tuesday invited citizens to attend a ceremony next month symbolizing his appointment by the people. In a Facebook post, Lee said the “People’s Appointment Ceremony” will be held at Gwanghwamun Square in downtown Seoul on Aug. 15, shortly after the ceremony marking the 80th [...]
SEOUL, July 29 (Korea Bizwire) — President Lee Jae Myung on Tuesday called for stronger workplace safety measures to prevent fatal industrial accidents and tougher punishments against violators. Lee made the remarks during a Cabinet meeting that was aired live, following the fifth fatal workplace accident this year at a construction site operated by POSCO [...]
SEOUL, July 29 (Korea Bizwire) — President Lee Jae Myung has sent a letter to Japanese Prime Minister Shigeru Ishiba to express his gratitude for his participation in an event commemorating the 60th anniversary of the normalization of bilateral diplomatic ties, a presidential official said Tuesday. Ishiba attended the ceremony hosted by the South Korean [...]