SEOUL, May 3 (Korea Bizwire) — Companies will be fined for reducing packet contents while maintaining retail prices without notice in South Korea as the government seeks to eradicate “shrinkflation” practices to better ensure consumer rights, the antitrust regulator said Friday. Under the envisioned revision of relevant regulations, manufacturers of daily necessities, including milk, coffee, [...]
PYEONGTAEK, May 7 (Korea Bizwire) — With a North Korea-U.S. summit about to take place following the historic inter-Korea meeting, the residents of Pyeongtaek, the site of controversy due to the U.S. military base there, are revealing their true feelings concerning public discourse on whether the U.S. army should pull out from the proposed relocation [...]
SEOUL, Apr. 1 (Korea Bizwire) — Local banks reduced their workforces and branch offices last year by the greatest number since 2000, with digitalization-driven downsizing accelerating, data from the financial regulator showed Sunday. The number of employees in the banking sector at the end of last year totaled 111,173, down 3,602 from the previous year, [...]
SEOUL, Jan. 8 (Korea Bizwire) – This Thursday, the latest Matt Damon flick, “Downsizing”, premieres at cinemas across South Korea. Its premise is built on the fantastical notion of a technology that can ‘downsize’ human beings to 5 inches in size for the purpose of combating overpopulation, and as one can expect, protagonist Matt Damon [...]
SEOUL, Jul. 7 (Korea Bizwire) — Citibank Korea, the South Korean unit of Citigroup Inc., began shutting down five physical branches in the country Friday, as part of its plan to reorganize its operations, according to an industry source. Citibank has said it will drastically cut the number of its physical branches to 25 from [...]
SEOUL, March 28 (Korea Bizwire) – Banks in South Korea sharply downsized their headcounts, branches and automated instruments in 2016 to cut costs amid rapid growth in mobile and Internet banking, government data showed Tuesday. The combined workforce of lenders operating in the country stood at 114,775 as of the end of last year, down [...]