SEOUL, Sept. 25 (Korea Bizwire) — South Korea’s widening gap between retirement and pension eligibility is fueling structural imbalances in middle-aged employment, with Seoul turning to data-driven policymaking to address the challenge. According to a new survey of 10,000 job seekers and 450 companies released by the Seoul Metropolitan Government and the Seoul 50 Plus [...]
SEOUL, Sept. 25 (Korea Bizwire) — A top South Korean presidential aide said Wednesday that a potential currency swap with the United States is an essential safeguard in ongoing trade talks, but not sufficient on its own to resolve the thorny negotiations. Kim Yong-beom, presidential chief of staff for policy, told reporters in New York [...]
SEOUL, Sept. 24 (Korea Bizwire) — A global commission on the military use of artificial intelligence (AI) has called for legally binding agreements to ensure decisions to use nuclear weapons remain under human control, not AI systems, as part of responsible military AI integration. The Responsible AI in the Military Domain (REAIM) Global Commission, a [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean regulators said Tuesday they had broken up a sophisticated stock manipulation scheme involving some of the country’s wealthiest business operators and financial insiders, in what is being billed as the first major case under President Lee Jae-myung’s new crackdown on market abuses. The Financial Services Commission, the [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea is revisiting an ambitious plan to transform a small island into a showcase of renewable power, seeking lessons from past failures as the government doubles down on clean energy to meet surging demand from carbon neutrality goals and AI-powered data centers. The Ministry of Environment said this [...]
SEOUL, Sept. 22 (Korea Bizwire) — South Korea is preparing to abolish a decades-old system that requires family members to act as legal guardians for psychiatric patients, a move hailed by advocates as a long-awaited step toward strengthening state responsibility for mental health care. According to officials and welfare experts on Sunday, the draft of the [...]
SEOUL, Sept. 22 (Korea Bizwire) — Prime Minister Kim Min-seok said Monday the government will overhaul data protection systems at telecoms and financial companies following a series of security breaches at mobile carriers and a credit card issuer. Kim made the remark during an emergency government meeting convened to discuss responses to the hacking incidents [...]
SEOUL, Sept. 17 (Korea Bizwire) —South Korea’s foreign minister on Friday sought to draw a fine line between the country’s massive investment commitments in the United States and the fallout from a U.S. immigration raid that detained hundreds of Korean workers, saying the visa dispute is not a formal condition for the projects but will [...]
SEOUL, Sept. 19 (Korea Bizwire) — Industry Minister Kim Jung-kwan said Friday the government will introduce a new export guarantee program worth around 400 billion won (US$290 million) for the steel industry faced with steep tariffs from the United States. Kim made the remarks during a meeting with top executives of major steel companies, including [...]
UIJEONGBU, South Korea, Sept. 19 (Korea Bizwire) – Migrant workers in South Korea without bank accounts will now be able to receive workplace injury compensation in cash, following a policy shift by the Ministry of Employment and Labor. The ministry adopted the change earlier this month after a recommendation from Gyeonggi Province, officials said Thursday. [...]