SEOUL, Oct. 15 (Korea Bizwire) — South Korea’s National Pension Service (NPS) said it will begin enforcing stricter “responsible investment” standards on private equity and other alternative investments, following heavy criticism over massive potential losses linked to the troubled retailer Homeplus. The decision, announced by the Ministry of Health and Welfare during a parliamentary audit on [...]
SEOUL, Oct. 15 (Korea Bizwire) — The South Korean government has moved to dismantle decades-old billing practices between clinics and diagnostic laboratories, a reform it says is essential to restoring transparency and safeguarding patient safety. But the medical community is pushing back, calling the measure hasty and detached from on-the-ground realities. The Ministry of Health and [...]
SEOUL, Oct. 15 (Korea Bizwire) — As South Korea pushes for wider adoption of Driver Monitoring Systems (DMS) to prevent fatigue-related traffic accidents, truck and bus drivers are voicing growing unease over privacy intrusions and cost burdens. While most drivers and operators acknowledge the need for safer roads, many fear that DMS — which tracks [...]
SEOUL, Oct. 14 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will introduce a new performance stock unit (PSU) program designed to tie employee compensation directly to long-term corporate performance and stock price gains, in an effort to align employee motivation with shareholder value. Under the plan, Samsung will award shares to employees based on [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korea’s Supreme Court is set to rule Thursday on the long-running divorce case between SK Group Chairman Chey Tae-won and Noh So-young, director of Art Center Nabi, in what has been called the “trial of the century.” With more than 1 trillion won (about $720 million) in assets at [...]
SEOUL, Oct. 14 (Korea Bizwire) — A South Korean court has ruled that the death of a 22-year-old man following a COVID-19 vaccination was causally linked to the shot, marking a rare judicial recognition of vaccine-related death in the country. According to a ruling by the Seoul Administrative Court, the man, identified only as A, received [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korea’s Disease Control and Prevention Agency (KDCA) pushed back on Monday against a recent study by domestic medical researchers suggesting that COVID-19 vaccines could increase the risk of cancer, saying the findings do not establish a causal link. “The mechanisms behind cancer development take years to identify,” a [...]
SEOUL, Oct. 14 (Korea Bizwire) — A new nationwide survey has revealed a striking paradox at the heart of South Korea’s digital transformation: while most public officials have experimented with artificial intelligence in their work, the vast majority of government documents remain locked in formats AI systems can’t read. According to data released Monday by Democratic [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korea’s antibiotic consumption ranks among the highest in the OECD, fueling alarm over the nation’s growing risk of antimicrobial resistance — a potential “superbug” crisis that public health experts warn could endanger lives and strain hospitals. According to the Korea Disease Control and Prevention Agency (KDCA) and newly released [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korean lawmakers across party lines have condemned the government’s handling of a sharp rise in kidnapping and confinement cases involving Korean nationals in Cambodia, urging swift and decisive measures — including the possibility of military intervention — to protect citizens abroad. During a National Assembly audit on Sunday, Rep. [...]