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Major Corporations Move to Offset Employee Tax Burden Under New Tax Law

Major Corporations Move to Offset Employee Tax Burden Under New Tax Law

SEOUL, March 11 (Korea Bizwire) — As South Korea’s revised tax law imposes income tax on employee discounts starting in 2025, major corporations are stepping in to offset the financial impact on their workers. Samsung Electronics announced on March 10 through its internal Family Net platform that the company plans to cover the tax burden [...]

Petrochemical Firms Face Credit Downgrades Amid Prolonged Downturn

Petrochemical Firms Face Credit Downgrades Amid Prolonged Downturn

SEOUL, March 11 (Korea Bizwire) — South Korea’s leading petrochemical companies are bracing for potential credit rating downgrades in the first half of 2025 as financial indicators continue to deteriorate due to a prolonged industry slump. The growing concerns come in the wake of Homeplus’ restructuring following a credit rating downgrade, raising alarms over broader [...]

South Korean Restaurants Face Worst Downturn Since Pandemic as Consumer Spending Plummets

South Korean Restaurants Face Worst Downturn Since Pandemic as Consumer Spending Plummets

SEOUL, March 11 (Korea Bizwire) — South Korea’s restaurant industry is experiencing its most severe downturn since the pandemic, with business sentiment falling to levels last seen during COVID-19 social distancing measures, according to government data released on March 9. The Restaurant Industry Business Survey Index dropped to 71.52 in the fourth quarter of 2024, down 4.52 [...]

South Korea’s Youth Obesity Problem Worsens as Health Risks Rise

South Korea’s Youth Obesity Problem Worsens as Health Risks Rise

SEOUL, March 11 (Korea Bizwire) — One in six South Korean students is obese, and half of these obese students show at least one risk factor for metabolic syndrome, including diabetes or hypertension, according to a comprehensive new study. The research also revealed that 20% of obese students are prediabetic. The National Health Insurance Service Research Institute’s [...]

White House Reaffirms ‘Complete’ Denuclearization of N. Korea After Regime’s Missile Launches

White House Reaffirms ‘Complete’ Denuclearization of N. Korea After Regime’s Missile Launches

WASHINGTON, March 10 (Korea Bizwire) – A White House official reiterated the United States’ commitment to the “complete” denuclearization of North Korea on Monday, after Pyongyang fired multiple ballistic missiles in its first known launch since U.S. President Donald Trump took office in January. “We’re aware of the missile launches and refer you to U.S. [...]

Telecom Giants Align with Big Tech AI Models in Competitive Strategy

Telecom Giants Align with Big Tech AI Models in Competitive Strategy

SEOUL, March 10 (Korea Bizwire) — At Mobile World Congress (MWC) 2025, LG Uplus announced a partnership with Google’s Gemini AI, marking the final piece of South Korea’s major telecom companies unveiling their strategic AI alliances. With this move, SK Telecom has aligned with Anthropic and Perplexity, KT has partnered with Microsoft, and LG Uplus [...]

South Korean Biotech and Healthcare Firms Expand Family Support Policies

South Korean Biotech and Healthcare Firms Expand Family Support Policies

SEOUL, March 10 (Korea Bizwire) — South Korea’s biotech, pharmaceutical, and healthcare companies are ramping up efforts to address the country’s low birth rate by introducing expanded family-friendly policies, including enhanced parental leave, financial incentives for childbirth, and workplace childcare support. According to industry sources on Sunday, Kakao Healthcare has begun offering free continuous glucose [...]

Korean Electronics Component Makers See Recovery Through AI-Driven High-End Products

Korean Electronics Component Makers See Recovery Through AI-Driven High-End Products

SEOUL, March 10 (Korea Bizwire) — Leading South Korean electronics component manufacturers are bouncing back from the global IT slowdown by focusing on high-value products driven by artificial intelligence (AI) technology. LG Innotek and Samsung Electro-Mechanics, which achieved record sales last year despite profitability challenges, are now poised for a significant turnaround. According to market consensus [...]

South Korea Unveils Measures to Boost Domestic Investment and Support Won

South Korea Unveils Measures to Boost Domestic Investment and Support Won

SEJONG, March 10 (Korea Bizwire) — Financial authorities in South Korea have announced new measures to encourage domestic investment and support the won’s value, including raising the mandatory domestic stock investment ratio for specialized Individual Savings Accounts (ISA) and lifting restrictions on won-denominated “Kimchi bonds”. The Ministry of Economy and Finance, Financial Services Commission, Bank of [...]

Social Media Users, Especially on TikTok, Largely Scroll to Pass Time

Social Media Users, Especially on TikTok, Largely Scroll to Pass Time

SEOUL, March 10 (Korea Bizwire) — A new survey has revealed that many social media users primarily access platforms to kill time, with TikTok showing the strongest tendency toward habitual, passive consumption. According to the “2024 Social Media User Survey” conducted by the Korea Press Foundation, 48.7% of TikTok users cited “killing time or habitual use” [...]