SEOUL, Jul. 26 (Korea Bizwire) – In a potential shake-up of its supply chain, Apple is expected to diversify its camera sensor suppliers, ending Sony’s long-standing monopoly in the iPhone’s imaging technology. According to noted Apple analyst Ming-Chi Kuo of TF International Securities, Samsung Electronics could begin supplying image sensors for iPhones as early as 2026. [...]
SEOUL, July 25 (Korea Bizwire) – South Korean tech giant LG Electronics is making significant strides in its subscription-based appliance business and B2B sector, signaling a shift in its long-term strategy. In a conference call on July 25 to discuss second-quarter results, company executives outlined the progress and future plans for these key growth areas. [...]
SEOUL, July 25 (Korea Bizwire) – In a landmark decision, South Korea’s Supreme Court has ruled that drivers for the ride-hailing service Tada should be considered employees under labor law, potentially reshaping the gig economy landscape in the country. The court’s ruling, announced on July 25, applied traditional employment criteria to determine the status of workers [...]
SEOUL, July 25 (Korea Bizwire) – The government will push to reduce inheritance tax to reflect decades of changes in asset values and inflation, and to provide a tax credit for marriage and childbirth in an effort to boost the ultra-low birth rate, the finance ministry said Thursday. They are part of a tax code [...]
SEOUL, Jul. 25 (Korea Bizwire) – South Korean tech giant Naver is gaining increased attention from global investment banks, with its webtoon platform and robotics ventures leading the charge. According to industry sources on July 24, Goldman Sachs and Evercore ISI, two prominent investment banks, have set ambitious target prices for Webtoon Entertainment, the parent company [...]
SEOUL, Jul. 24 (Korea Bizwire) – Starting August 14, automakers in South Korea will face a significant shift in how sudden acceleration incidents are handled. Under a new amendment to the Motor Vehicle Management Act, manufacturers who fail to submit relevant data about vehicles suspected of sudden acceleration will see those vehicles presumed defective. This presumption [...]
SEOUL, Jul. 24 (Korea Bizwire) – LG Electronics announced on July 23 that it has received over 16,000 ideas from customers in South Korea and the United States for its innovative “UP Appliances” program, highlighting a growing trend in consumer-driven product development. Launched in 2022, LG’s UP Appliances are designed to evolve with customers’ needs, allowing [...]
SEOUL, Jul. 23 (Korea Bizwire) – In a strategic move to secure a leading position in the next-generation artificial intelligence (AI) semiconductor market, Samsung Electronics is ramping up investments in AI chip companies. Industry sources reported on July 22 that the Samsung Catalyst Fund (SCF), a venture capital fund that operates under the Samsung Semiconductor Innovation [...]
SEJONG, Jul. 22 (Korea Bizwire) – In a troubling trend for South Korea’s labor market, the number of college graduates neither employed nor seeking work has surpassed 4 million in the first half of 2024, reaching an all-time high despite government efforts to boost economic participation. According to data from Statistics Korea’s national statistics portal, an [...]
SEOUL, Jul. 22 (Korea Bizwire) – As new technologies emerge that can predict menstrual cycles and detect sleep apnea by collecting biometric data during sleep, including heart rate, blood sugar levels, and stress indicators, the South Korean government has initiated efforts to draft legislation to address these developments. The Personal Information Protection Commission (PIPC) aims to [...]