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Samsung and LG’s AI and OLED TV Rivalry Takes Center Stage at Shareholder Meetings

Samsung and LG’s AI and OLED TV Rivalry Takes Center Stage at Shareholder Meetings

SEOUL, Mar. 27 (Korea Bizwire) – The battle for market dominance between Samsung Electronics and LG Electronics in AI-powered appliances and OLED televisions spilled over into the companies’ annual shareholder meetings this week, as top executives touted their firms’ technological prowess.  At LG’s annual meeting on March 26, Cho Joo-wan, the company’s chief executive, emphasized that [...]

South Korean Exporters Lag in Readiness for EU’s Expanding ESG Regulations

South Korean Exporters Lag in Readiness for EU’s Expanding ESG Regulations

SEOUL, Mar. 27 (Korea Bizwire) – As the European Union expands its environmental, social, and governance (ESG) regulations on exports, South Korean companies appear to be lagging in their awareness and preparedness, according to a recent survey conducted by the Korea Chamber of Commerce and Industry (KCCI). The survey, conducted with 205 domestic exporting firms, revealed [...]

South Korea Unveils Comprehensive Initiatives to Foster Dignified and Supportive Environment for Rapidly Aging Population

South Korea Unveils Comprehensive Initiatives to Foster Dignified and Supportive Environment for Rapidly Aging Population

SEOUL, Mar. 26 (Korea Bizwire) – As South Korea prepares for an unprecedented milestone of 10 million elderly citizens, the government has unveiled a sweeping set of measures aimed at enhancing housing options, improving care services, and fostering a supportive environment to meet the evolving needs of its rapidly aging demographic. At the 22nd Public [...]

Samsung Faces Fresh Scrutiny Over Worker Safety After Birth Defects Ruling

Samsung Faces Fresh Scrutiny Over Worker Safety After Birth Defects Ruling

SEOUL, Mar. 25 (Korea Bizwire) – Samsung Electronics remained tight-lipped on Wednesday after South Korean authorities recognized birth defects in children of former semiconductor factory workers as work-related injuries, reopening scrutiny over the tech giant’s commitment to employee welfare.  The landmark ruling by the Korea Workers’ Compensation and Welfare Service covered three cases where children born [...]

Executives at South Korea’s Top Conglomerates Earn Over 10 Times More Than Workers

Executives at South Korea’s Top Conglomerates Earn Over 10 Times More Than Workers

SEOUL, Mar. 25 (Korea Bizwire) – A stark divide exists between the paychecks of top executives and ordinary employees at South Korea’s major conglomerates, with a new analysis revealing that executives earn on average more than 11 times the salary of regular workers.  According to data compiled by Chaebul.com from the 2023 fiscal year business reports [...]

South Korea to Disclose Financial Benefits Received by Doctors and Pharmacists

South Korea to Disclose Financial Benefits Received by Doctors and Pharmacists

SEOUL, Mar. 22 (Korea Bizwire) – Starting this year, South Korea will implement measures to enhance transparency in the relationship between healthcare professionals and pharmaceutical and medical device companies. The Ministry of Health and Welfare has announced guidelines for compiling reports detailing the economic benefits provided to doctors and pharmacists.  In 2021, amendments were made to [...]

Surge in Early Retirement Pension Claims in South Korea

Surge in Early Retirement Pension Claims in South Korea

SEOUL, Mar. 21 (Korea Bizwire) – The number of South Koreans opting to receive their national pension benefits before the official retirement age, despite incurring a financial penalty, has reached nearly one million, reflecting the economic struggles faced by many retirees.  According to data from the National Pension Service released on March 20, the total number [...]

AI No Longer a Fearsome Prospect, Says Go Grandmaster Beaten by AlphaGo

AI No Longer a Fearsome Prospect, Says Go Grandmaster Beaten by AlphaGo

SEOUL, Mar. 20 (Korea Bizwire) – Lee Sedol, the South Korean grandmaster who took on Google’s AI Go program AlphaGo in the ‘Game of the Century’ eight years ago, has offered a nuanced perspective on the rapid advancement of AI technology. In an interview released by Google Korea on March 19 to mark the 20th anniversary [...]

Koreans Link Happiness and Social Status to Higher Incomes, Survey Finds

Koreans Link Happiness and Social Status to Higher Incomes, Survey Finds

SEOUL, Mar. 20 (Korea Bizwire) – South Koreans feel happier and perceive their social status as higher when their household incomes are larger, according to an annual government survey released on March 19 that highlighted the nation’s emphasis on economic growth over wealth distribution. The 2023 Social Integration Survey conducted by the Korea Institute of Public [...]

Samsung and LG Trade Barbs Over Market Share and Product Features

Samsung and LG Trade Barbs Over Market Share and Product Features

SEOUL, Mar. 18 (Korea Bizwire) – With Samsung Electronics and LG Electronics unveiling their new flagship TV lineups and premium all-in-one washer-dryer combos for 2024, the fierce rivals have engaged in an increasingly acrimonious marketing battle, taking thinly veiled shots at each other’s claims of superiority.  The dispute began when Han Jong-hee, the CEO of Samsung’s [...]