SEOUL, Oct. 14 (Korea Bizwire) — A man has been awarded nearly 900 million won (US$665,926) in state compensation after being wrongfully convicted and imprisoned on spy charges more than five decades ago and recently acquitted by a court, a government gazette showed Monday. The Seoul High Court made a decision on Oct. 4, ordering [...]
SEOUL, Aug. 13 (Korea Bizwire) – An Se-young, the badminton player who secured South Korea’s first Olympic gold medal in women’s singles in 28 years, earned approximately 900 million won last year in prize money and salary. However, this figure pales in comparison to the earnings of top-ranked players in more popular sports, igniting a debate [...]
SEOUL, Jul. 31 (Korea Bizwire) — An attempt by victims of Japan’s wartime sexual slavery to collect court-ordered compensation from the Japanese government has fallen through as Tokyo refused to submit a list of its assets in South Korea. The case involves several Korean victims of Japan’s sexual enslavement during World War II, who won [...]
SEOUL, Jul. 3 (Korea Bizwire) – The South Korean government has developed an artificial intelligence (AI) model to determine appropriate treatment periods for workers injured on the job, marking a significant shift in the management of industrial accident claims. The Ministry of the Interior and Safety, in collaboration with the Korea Workers’ Compensation and Welfare Service, [...]
LIMA, Peru, Mar. 5, 2024 (Korea Bizwire) — Southern Peaks Mining LP is pleased to advise that an international arbitration tribunal has ordered Urion Mining International B.V. (“Urion”) to pay its subsidiary, Ariana Management Corporation, S.A.C. (“Ariana”) an amount of US$ 42,500,000, plus interest, as a result of breaches to the 14 June 2013 Sale [...]
SEOUL, Mar. 4 (Korea Bizwire) – As the global economy faces prolonged downturns and increasing uncertainties, several South Korean conglomerates have initiated cost-cutting measures by reducing the compensation limits for their board members. According to filings with the Financial Supervisory Service’s Electronic Disclosure System, Samsung Electronics is set to propose a reduction in the total compensation [...]
SEOUL, Feb. 29 (Korea Bizwire) – In a groundbreaking move aimed at enhancing operational efficiency in the face of declining profitability, NCSoft, a leading South Korean video game developer, has announced its intention to reduce the compensation limit for its directors for the first time since the company’s inception. The decision, revealed through a notice of [...]
JEJU, Jan. 12 (Korea Bizwire) – Jeju Island in South Korea is set to fully implement a new program designed to compensate local residents and landowners who contribute to the preservation of the island’s natural environment. The initiative will soon be recruiting participants, following the establishment of implementation guidelines. These guidelines include setting an hourly wage [...]
SEOUL, Jan. 11 (Korea Bizwire) — The Supreme Court on Thursday upheld another appellate court ruling that ordered a Japanese company to compensate the family of a late South Korean forced into wartime labor during Japan’s 1910-1945 colonial rule. The top court handed down the decision on a damages suit filed by the victim’s family [...]
SEOUL, Jan. 10 (Korea Bizwire) — Roh So-young, the estranged wife of SK Group Chairman Chey Tae-won, is said to have virtually doubled her claim for alimony and division of Chey’s wealth in their ongoing divorce appellate trial to over 2 trillion won (US$1.5 billion), judicial officials said Wednesday. Chey, who runs South Korea’s second-largest [...]