ULSAN, South Korea, June 12 (Korea Bizwire) – Hyundai Motor’s labor union is demanding compensation of 20 million won (approximately $14,500) per worker in this year’s wage and collective bargaining talks, citing the Supreme Court’s 2024 ruling on the inclusion of regular bonuses in base pay calculations. Although the court limited retroactive application of the decision [...]
SEOUL, June 12 (Korea Bizwire) — The South Korean government has released a comprehensive white paper chronicling its response to the COVID-19 pandemic, detailing a 1,564-day journey from the nation’s first confirmed case to the official downgrade of the health crisis. Titled “2020–2024 COVID-19 White Paper,” the document was published by the Ministry of Health [...]
SEOUL, June 11 (Korea Bizwire) — Hyundai Mobis announced Wednesday it has developed a new rear safety control system that allows vehicles to autonomously accelerate to maintain a safe distance when being tailgated — a technological first aimed at enhancing driver protection on highways. The feature, which integrates rear-side radar sensors with front-facing cameras and driving [...]
CHEONGJU, June 11 (Korea Bizwire) — Amid rising temperatures and shifting weather patterns driven by climate change, South Korea’s disease control agency has unveiled a comprehensive five-year plan to strengthen the nation’s defenses against vector-borne diseases such as Japanese encephalitis, malaria, and tick-borne infections. At a briefing held Wednesday at its Osong headquarters, the Korea [...]
SEOUL, June 11 (Korea Bizwire) — President Lee Jae-myung on Wednesday unveiled a sweeping vision to revitalize South Korea’s capital markets by promoting dividend-friendly policies, cracking down on unfair trading practices, and positioning equities as a viable alternative to real estate for household investment. Speaking at a roundtable held at the Korea Exchange’s Market Surveillance Committee [...]
SEOUL, June 11 (Korea Bizwire) — The nation’s largest tech business exhibition, Smart Tech Korea 2025, opened Tuesday at COEX in Seoul, bringing together cutting-edge innovations from around the globe under the themes of “Bold Technological Innovation” and “Shaping the Future.” The event runs through June 13. Now in its 14th year, the expo features [...]
SEOUL, June 11 (Korea Bizwire) – Household loans extended by South Korean banks rose sharply in May, central bank data showed Wednesday, driven by an increase in housing transactions. Banks’ outstanding household loans stood at 1,155.3 trillion won (US$845.07 billion) as of end-May, up 5.2 trillion won from a month earlier, according to the data [...]
SEOUL, June 11 (Korea Bizwire) – South Korea’s major food delivery platforms are under renewed pressure as the Lee Jae-myung administration accelerates discussions on implementing a cap on delivery-related fees — a key campaign pledge aimed at promoting fairer economic practices. At the center of the debate is a proposal from Baemin (operated by Woowa [...]
SEOUL, June 11 (Korea Bizwire) — South Korea’s exports went up 5.4 percent from a year earlier in the first 10 days of this month driven by robust demand for semiconductors and automobiles, data showed Wednesday. Outbound shipments reached US$15.47 billion in the June 1-10 period, compared with $14.68 billion tallied a year earlier, according [...]
SEOUL, June 11 (Korea Bizwire) — Only six percent of 171 listed companies on South Korea’s main stock exchange have adopted cumulative voting, a system aimed at enhancing shareholder rights, according to a report released Wednesday by a local research institute. Happy ESG, a corporate governance research group, analyzed the governance structures of 171 companies [...]