SEOUL, July 17 (Korea Bizwire) — As South Korea grapples with deepening youth unemployment, a new study reveals that the share of employees in their 20s at the country’s top conglomerates has plummeted over the past two years—raising concerns about a generational imbalance in the corporate workforce. According to a report released Wednesday by CEO [...]
SEOUL, July 16 (Korea Bizwire) — South Korea’s financial institutions are rapidly embracing cloud computing, with 92 percent now using public cloud services — and more than half of them relying on Amazon Web Services (AWS), according to new industry data. At a press briefing held Wednesday in Seoul, Noh Kyung-hoon, head of AWS’s financial services [...]
CHUNCHEON & SEOUL, July 16 (Korea Bizwire) — LG CNS, the digital transformation arm of LG Group, is stepping into the burgeoning insect industry with plans to construct a cutting-edge smart insect farm in Chuncheon, Gangwon Province, aimed at automating and digitizing the mass production of edible insects such as mealworms. The initiative marks the company’s [...]
SEOUL, July 16 (Korea Bizwire) — LG Electronics’ all-in-one washer-dryer, the LG WashTower, has been named the best laundry appliance by leading media outlets in the United States and Europe, the company announced Tuesday. Forbes magazine ranked the WashTower as the “Best Overall Washer Dryer” for its exceptional ease of use, washing performance, energy efficiency, [...]
SEOUL, July 16 (Korea Bizwire) — LG Innotek has unveiled its latest automotive innovation—a next-generation digital key solution that enhances vehicle security, driver convenience, and child safety through precision wireless communication and AI-powered features. At a technology showcase held on July 15 at its Seoul headquarters, LG Innotek demonstrated a range of functionalities enabled by [...]
SEOUL, July 16 (Korea Bizwire) — One in nine South Korean civil servants recently participated in the long-criticized custom of subordinates treating senior officials to meals, underscoring the persistence of outdated hierarchical practices within the public sector despite reform efforts. A joint survey released Friday by the Ministry of the Interior and Safety and the [...]
SEOUL, July 16 (Korea Bizwire) — A new study has revealed that the trading strategies of South Korea’s National Pension Service (NPS), which oversees more than 1,000 trillion won ($730 billion) in assets, can significantly affect market volatility and transaction costs—particularly when investments are outsourced to external managers. According to a report released Tuesday by [...]
SEOUL, July 16 (Korea Bizwire) — After nearly 17 months of boycotting classes in protest of the South Korean government’s plan to increase medical school admissions by 2,000, the country’s medical students have signaled their intent to return — but their comeback is being met with sharp public criticism. While many welcome the end of [...]
SEOUL, July 16 (Korea Bizwire) — The share of intra-group transactions among South Korea’s major conglomerates rose sharply in 2023, with nearly 40 percent of their total domestic revenue derived from internal dealings, raising fresh concerns about potential abuses of market power and opaque business practices. According to a report released Monday by corporate research [...]
SEOUL, July 16 (Korea Bizwire) — Im Seung-kwan, newly appointed as the fourth Commissioner of the Korea Disease Control and Prevention Agency (KDCA), pledged Monday to strengthen South Korea’s public health security infrastructure and position the agency as a central command hub for infectious disease crises. Speaking at his inauguration ceremony at KDCA headquarters in Osong, [...]