compensation Archives | Be Korea-savvy
Illness Caused by Workplace Harassment Eligible for Compensation

Illness Caused by Workplace Harassment Eligible for Compensation

SEOUL, March 16 (Korea Bizwire) — Sickness and death caused by workplace harassment will become eligible for compensation under the Accident Compensation Act for Public Servants. The Ministry of Personnel Management announced that the revision of the Accident Compensation Act for Public Servants passed the Cabinet meeting on Tuesday, setting a legal foundation for compensation [...]

Samsung to Offer Trade-in Credit Even for Used LG Products

Samsung to Offer Trade-in Credit Even for Used LG Products

SEOUL, Jan. 11 (Korea Bizwire) — Samsung Electronics Co. plans to expand the range of trade-in benefits (compensation for used products) from smartphones towards the entire spectrum of Galaxy products, including smartwatches and notebook PCs. The tech giant expanded the scope of the trade-in program that it has implemented for the Galaxy Book Pro laptop, [...]

Jeju Eyes Compensation System to Encourage Use of Residual Electricity for EV Charging

Jeju Eyes Compensation System to Encourage Use of Residual Electricity for EV Charging

JEJU, Oct. 1 (Korea Bizwire) — The municipality of the southern resort island of Jeju will introduce a compensation system to promote the use of overproduced and wasted renewable energy for electric vehicle (EV) charging. The the Jeju provincial government on Thursday signed a business agreement with the state-run energy firm Korea Electric Power Corp. [...]

Court Rules Samsung Securities Must Cover Half of Investors’ Damages in 2018 Dividend Error

Court Rules Samsung Securities Must Cover Half of Investors’ Damages in 2018 Dividend Error

SEOUL, Sept. 26 (Korea Bizwire) — A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages [...]

Gov’t Takes Steps to Compensate Coronavirus-hit Medical Institutions and Drug Stores

Gov’t Takes Steps to Compensate Coronavirus-hit Medical Institutions and Drug Stores

SEOUL, July 28 (Korea Bizwire) — The government has launched a new initiative to offer compensation to the businesses that suffered losses after being forced to shut down for prevention and disinfection of the coronavirus. The type of businesses that are eligible for government compensation include medical institutions, drug stores and general stores. The Ministry [...]

SK E&C Reaches Compensation Deal with Laos over Deadly Dam Collapse

SK E&C Reaches Compensation Deal with Laos over Deadly Dam Collapse

SEOUL, July 9 (Korea Bizwire) — SK Engineering & Construction Co. said Thursday that it has reached a deal with authorities in Laos to compensate victims of a deadly hydroelectric dam collapse in the Southeast Asian country. The Xe-Pian Xe-Namnoy Power Co., a joint venture involving the South Korean builder, inked the deal with the [...]

Watchdog Recommends Highest Level of Compensation over Derivative Misselling Fiasco

Watchdog Recommends Highest Level of Compensation over Derivative Misselling Fiasco

SEOUL, Dec. 5 (Korea Bizwire) — South Korea’s financial watchdog said Thursday that two local banks should provide compensation for up to 80 percent of their customers’ losses from a recent misselling of derivatives linked to overseas interest rates. The arbitration committee of the Financial Supervisory Service recommended the compensation rate of 40-80 percent to [...]