SEOUL, Dec. 21 (Korea Bizwire) – On December 14, as South Korea’s National Assembly voted on the impeachment of President Yoon Suk-yeol, two distinct protests unfolded in Seoul, revealing stark generational and cultural divides. According to Seoul’s public life population data analyzed by Yonhap News, young women in their 20s dominated the pro-impeachment protest in Yeouido, [...]
WASHINGTON & SEOUL, Dec. 21 (Korea Bizwire) – The Biden administration has reduced subsidies for Samsung Electronics’ semiconductor investments in the United States by 26%, sparking questions about the rationale behind the decision. The U.S. Department of Commerce announced on December 20 that Samsung will receive $4.745 billion (approximately 6.9 trillion won) in subsidies under the [...]
JEONJU, Dec. 21 (Korea Bizwire) – Jeonbuk Special Self-Governing Province has taken its first step toward establishing a medical cannabis industry, aiming to position it as a core future growth sector. On December 20, Jeonbuk signed a memorandum of understanding (MOU) with the Cannabis Research Institute of Colorado State University during a ceremony at the Jeonbuk [...]
SEOUL, Dec. 21 (Korea Bizwire) – Starting March 2025, individuals caught feeding wildlife such as pigeons and magpies in Seoul’s urban parks and Han River parks will face fines of up to 1 million won ($760). This measure, part of the newly passed Ordinance on Prohibition of Feeding Harmful Wildlife, aims to mitigate ecological and urban [...]
SEOUL, Dec. 20 (Korea Bizwire) – In a landmark decision, South Korea’s Supreme Court has held the state accountable for inadequate accessibility for people with disabilities, ordering compensation and setting a precedent for broader systemic reform. On December 19, the court ruled that the government must pay KRW 100,000 (approximately $70) in damages to each plaintiff [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s potential growth rate is projected to fall below 2% next year, signaling challenges for the nation’s long-term economic sustainability, according to a report released by the Bank of Korea (BOK) on December 19. Without structural reforms in labor markets, birthrate improvement, and increased workforce participation by women and [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s Statistical Office released its 2024 Social Trends report on December 19, revealing significant insights into the potential impact of artificial intelligence (AI) on jobs, rising obesity rates, and shifting societal behaviors. AI and Job Displacement AI technologies like ChatGPT could replace 2.7 million jobs, nearly 10% of [...]
SEOUL, Dec. 20 (Korea Bizwire) – As South Korea braces for its coldest winter yet, electric vehicle (EV) owners are expressing growing frustration over significant drops in driving range during frigid weather. Online forums have been buzzing with complaints, with many surprised by how much their EV range decreases compared to summer. Questions about efficient [...]
SEOUL, Dec. 20 (Korea Bizwire) – Amid growing concerns over domestic consumption following the December 3 martial law crisis, small business owners and self-employed workers are reporting devastating impacts on what should be their peak season for sales. A post titled “December Sales Have Gone Crazy Due to National Crisis” appeared on December 18 in an [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s Supreme Court ruled on December 19 that conditional regular bonuses, tied to employment status or minimum workdays, must be included in the calculation of ordinary wages. This landmark decision overturns a 2013 precedent that required bonuses to meet strict “fixed” payment criteria to qualify, sparking significant debate [...]