SEOUL, June 26 (Korea Bizwire) — South Korea has faced significant setbacks in the Korea v. Elliott Investment Management investor-state dispute settlement (ISDS) case. According to a press release titled “Decision on the Elliott International Investment Dispute Settlement (ISDS) Case” by the justice ministry on Friday, which provides a summary of the June 20 judgment, [...]
SEOUL, June 23 (Korea Bizwire) — Amid a recent statement at the National Assembly by a ruling party leader vowing to prevent Chinese individuals from exploiting South Korea’s national health insurance, communities in China have been found to be sharing tips on how to take advantage of the system. A YouTube video created by a [...]
SEOUL, June 22 (Korea Bizwire) — Samsung Electronics Co. and SK hynix Inc., the world’s two largest memory chip makers, have begun renegotiating with their primary clients as the average selling price (ASP) for DRAM approaches production cost. The two companies have set the price limit at US$1.40 and notified clients that the price cannot [...]
SEOUL, June 21 (Korea Bizwire) — In South Korea’s e-commerce market, a two-way race is currently underway between Coupang Inc. and Naver Corp. According to a survey conducted by local pollster Open Survey, which involved 2,500 male and female consumers aged between 20 and 59, Coupang was ranked as the most frequently used online shopping [...]
SEOUL, June 19 (Korea Bizwire) — South Korean imports of Japanese seafood sank more than 30 percent last month, data showed Monday, amid concerns over Tokyo’s planned release of contaminated water from its crippled nuclear power plant. South Korea imported 2,129 tons of fishery products from the neighboring country in May, down 30.6 percent from [...]
SEOUL, June 17 (Korea Bizwire) – The Seoul Metropolitan Office of Education will conduct a full radiation test on school meals to check their safety amid concerns over Japan’s plan to release contaminated water from the crippled Fukushima nuclear power plant, officials said Saturday. The education office initially planned to conduct sample tests on school [...]
SEOUL, June 15 (Korea Bizwire) — Samsung Electronics Co. plans to establish a foundry ecosystem in collaboration with its semiconductor intellectual property (IP) partners, aiming to close the gap with Taiwan’s TSMC, the world’s largest contract chip manufacturer. Samsung announced through its newsroom that it will disclose the agreements’ content with IP partners such as [...]
SEOUL, June 13 (Korea Bizwire) — South Korean shipyards are making various efforts to attract foreign workers in response to a shortage of manpower. The nation’s shipbuilding industry is expected to face a shortage of approximately 13,000 production workers in the third quarter of this year, according to the Korea Offshore & Shipbuilding Association. HD [...]
SEOUL, June 13 (Korea Bizwire) — South Korean carmakers are increasingly choosing to facelift their existing models rather than develop entirely new vehicles amid the transition to electrification. KG Mobility, formerly known as SsangYong Motor Co., recently released another facelifted version of the Tivoli SUV, which was originally launched in 2015. This comes after the [...]
SEOUL, June 6 (Korea Bizwire) – The role of “prompt engineers,” responsible for optimizing the performance of artificial intelligence (AI) tools such as ChatGPT, is emerging as a promising profession, but a debate is intensifying regarding its future. Kang Soo-jin, a linguistics PhD, recently secured a position as a prompt engineer at the South Korean [...]