SEOUL, Jan. 1 (Korea Bizwire) — South Korea’s healthcare and biomedical industry technologies are assessed to be at 80% of the level of the United States, the global leader in the field, with an estimated two-year gap to reach parity. This was revealed in a report published by the Ministry of Health and Welfare and the [...]
SEOUL, Dec. 31 (Korea Bizwire) — A South Korean court has ruled that informal discussions about start dates and verbal indications of potential job acceptance following an interview do not constitute a binding employment contract. The decision also clarified that rescinding such offers does not qualify as unfair dismissal. On Monday, 2024, the Seoul Administrative [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 31 (Korea Bizwire) — A special inspection to ensure the safety of military aircraft is under way as the defense ministry has ordered the military to examine all aircraft following the fatal Jeju Air crash, officials said Tuesday. The Navy has kicked off a safety inspection that will run through Saturday to examine [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korean stock markets have shed more than 250 trillion won in market capitalization this year, standing in stark contrast to the record-setting rallies seen in other major global markets. According to the Korea Exchange, as of December 27, the main KOSPI market’s capitalization stood at 1,966.96 trillion won, while [...]
SEOUL, Dec. 30 (Korea Bizwire) — Samsung Group, South Korea’s largest conglomerate, has seen its market capitalization plummet by over 160 trillion won this year, marking a significant contraction in its dominance on the domestic stock market. As of December 26, the total market value of Samsung’s 22 listed companies, including Samsung Electronics, Samsung Biologics, [...]
SEOUL, Dec. 27 (Korea Bizwire) — A presidential committee on aging society and population said Friday the government will come up with a demographic policy blueprint in the near future, as South Korea has formally become a “super-aged” society. The remark came after the government data showed the number of South Koreans aged 65 or [...]
SEOUL, Dec. 27 (Korea Bizwire) — The South Korean government is set to intensify its efforts to reduce wildlife roadkill by designating and managing 100 high-risk road segments, up from the previous 50, according to a joint announcement by the Ministry of Environment and the Ministry of Land, Infrastructure and Transport on December 26. The new [...]
SEOUL, Dec. 27 (Korea Bizwire) — Shinsegae Group has announced a strategic partnership with China’s Alibaba Group, forming a joint venture to bolster its position in South Korea’s highly competitive e-commerce market. The new entity, “Grand Opus Holding,” will launch in 2025 with equal ownership between Shinsegae and Alibaba’s international subsidiary. The partnership integrates Shinsegae’s [...]
SEOUL, Dec. 27 (Korea Bizwire) — The South Korean government has designated the last Wednesday of every month as “Hanbok Day,” encouraging civil servants in government offices, local municipalities, and public institutions to wear the country’s traditional attire to work. The initiative is part of a broader effort to integrate traditional culture into everyday life [...]