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Friday, October 20, 2017

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The Financial Supervisory Service (FSS) of Korea issued a disciplinary warning to Heungkuk Securities and Heungkuk Asset Management, two of the subsidiaries of the Taekwang Group.
Investigation into Taekwang Subsidiaries
1 September 2017 - 3:15pm
The Financial Supervisory Service (FSS) announced on August 25 that it held a regulatory committee meeting on August 14 and issued a disciplinary warning to Heungkuk Securities and Heungkuk Asset...
A large number of ordinary wage suits are likely to follow in many other companies in various industries as the court the case of Kia Motors favorably to the labor union.
Industry in Crisis
1 September 2017 - 2:00pm
The Seoul Central District Court ruled that the regular bonuses and lunch expenses paid to Kia Motors workers should be regarded as constituting their ordinary wages. Under the circumstances, a large...
GM Korea’s union members are demonstrating against the Korea Development Bank’s selling the shares in GM Korea at the front of the Presidential Office on July 17.
Intervention in Restructuring
31 August 2017 - 10:30am
The South Korean government is about to intervene in the restructuring of Kumho Tire and GM Korea. To this end, the Financial Services Commission (FSC) recently transferred the management of...
The American Chamber of Commerce in Korea (AMCHAM) voiced concern about rising labor costs due to normal wage issue.
Concern on Normal Wage Ruling
30 August 2017 - 7:30pm
The American Chamber of Commerce in Korea (AMCHAM) voiced concern about rising labor costs ahead of a court ruling on the Kia Motors Labor Union's normal wage lawsuit. "On Thursday (August 31), a...
The Korean government will prohibit the extension of the lives of old nuclear power plants.
Stepping to Nuclear–free Energy Policy
30 August 2017 - 10:30am
The Korean government will prohibit the extension of the lives of old nuclear power plants and scratch off the construction of new nuclear power plants. Aging coal power plants will be shut down...
The government determined the 429 trillion won (US$381.1 billion) budget for next year during a Cabinet meeting chaired by Prime Minister Lee Nak-yon at the Government Complex Sejong on August 29.
Record-high Budget for 1918
30 August 2017 - 1:45am
The South Korean government has raised its 2018 budget 7.1 percent from that for this year to 429 trillion won (US$381.1 billion). The Moon Jae-in administration's first proposed budget calls for...
The Western countries are hoping that South Korea will put a brake on Russia and China by maintaining the competitiveness of its nuclear power industry.
Concerns from Western Nations
28 August 2017 - 11:45am
An increasing number of countries are expressing concerns over the South Korean government’s nuclear-free policy. About seven countries, including South Korea, have exported at least one nuclear...
The number of foreign tourists visiting Korea this year is expected to dwindle by 4.68 million (down 27 percent) to about 12.56 million from the previous year (17.24 million).
Owing to Tensions on Korean Peninsula
25 August 2017 - 12:45pm
As foreign tourists shunned visiting Korea due to the aftermaths of the Terminal High Altitude Area Defense (Terminal High Altitude Area Defense Terminal High Altitude Area DefenseTHAAD) System and...
The Korean government will discuss a merger between Sungdong Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding.
Restructuring of Smaller Shipbuilders
24 August 2017 - 12:45pm
The South Korean government holds a meeting next month in order to discuss a merger between Sungdong Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding. At present, STX is...
Hyundai Motor Group has made the least progress in governance structure reform among the nation’s top five conglomerates.
Through Equity Spinoff
23 August 2017 - 10:15am
A rumor that Hyundai Motor Group, which is considered South Korea’s number two business group after Samsung, is working to convert to the holding company structure is emerging again. This has come...
South Korea's largest bitcoin exchange, Bithumb, posted 2.6 trillion won (US$2.28 billion) in daily trading volume on July 19.
Reaching Record High
22 August 2017 - 4:30pm
South Korea's largest bitcoin exchange, Bithumb, announced on August 21 that it posted 2.6 trillion won (US$2.28 billion) in daily trading volume on the 19th, reaching a record high. The figure is...
Local organizations will hold an event to seek measures about GM Korea steadily rumored about leaving Korea.
Seeking Solutions
22 August 2017 - 3:30am
An event will be held by local organizations to seek measures about GM Korea steadily rumored about leaving Korea. Bupyeong-gu of Incheon announced on August 21 that it will open a big-scale...

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