Attacks on Samsung Electronics by patent trolls are becoming increasingly cunning. These entities are focusing on purchasing patents with broad scopes that can be applied to various products and then targeting companies that release related products. Among global information technology (IT) companie
The conflict over wage negotiations between Samsung Electronics and its labor union has escalated as the two sides failed to reach an agreement in the first mediation meeting, sparking heightened interest in the possibility of a strike materializing.According to industry sources on March 6, Samsung
Since taking office in early July 2022, Ongjin County Mayor Moon Kyung-bok has been busy listening to the voices of his residents. This has been producing remarkable positive results.In 2023, Ongjin County paved the way for a new leap forward, including finalizing a plan for the construction of Baek
Foreign investors who invest in domestic stocks and bonds will see significant improvements in the complex foreign exchange procedures they have faced so far. It is expected that the accessibility of foreign investors to the domestic market and the Korean won will improve.The Bank of Korea and the M
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that Trade Minister Cheong In-kyo held the 8th Multilateral Trade Strategy Meeting with the MOTIE and related ministries on Jan. 29.In preparation for the 13th Ministerial Conference (MC-13) of the World Trade Organization (WTO) to
The government is set to implement a comprehensive plan for “smart cities” incorporating new technologies. The primary focus is accelerating the entry into foreign markets through the restructuring of the “K-City Network” project. This initiative aims to strengthen the global competitiveness of Kore
Starting from the second half of this year, South Korean companies will have the option to settle export and import payments in Korean won when engaging in trade transactions with certain countries from the Association of Southeast Asian Nations (ASEAN). This move is expected to allow businesses to
The government has announced its intention to reduce the ratio of household debt to gross domestic product (GDP) to below 100 percent by the year 2027.On Jan. 4, the government released the “2024 Economic Policy Direction,” outlining its strategy for managing household debt.According to the Bank for
Last year, 540,000 foreign workers received year-end settlements, and the reported tax amount reached a record-breaking 1.2 trillion won (US$915.68 million).The National Tax Service (NTS) announced that the number of foreign workers who filed tax reports was 544,000, and the reported tax amount reac
A South Korea-based brokerage firm has been fined billions of won for allegedly allowing global investment banks (IBs) to short sell stocks without borrowing, ratcheting up tension in the Korean securities industry. This is because although the sanctions were imposed on the foreign-affiliated securi
The deadline for Google and Apple to submit their opinions on corrective measures proposed by the Korea Communications Commission (KCC) regarding the “coercive practices of utilizing their own in-app payment system” has been extended once again. Following Google’s recent defeat in a first-instance l
As Kakao Corporation and its executives face trial over allegations of stock manipulation involving SM Entertainment, controversy arises within Kakao Pay, a subsidiary that has been pursuing the acquisition of management rights of Siebert Financial, a U.S.-based securities firm, since the beginning
Starting next year, KOSPI-listed companies with assets exceeding 10 trillion won (US$7.67 billion) will be obligated to submit disclosures in English. This mandatory requirement is expected to enhance information accessibility for foreign investors.The Financial Services Commission announced on Dec.
According to the Korea Securities Depository on Dec. 17, the cumulative settlement amount for the sale of foreign stocks by domestic investors has reached US$137.05 billion as of Dec. 14 since the beginning of this year. This figure surpasses the corresponding purchase settlement amount of US$135.97
Starting on Dec. 14, the foreign investor registration system, which was considered one of the causes of the “Korea Discount,” or the undervaluation of the South Korean stock market, will be abolished.According to the financial investment industry on Dec. 12, the “Enforcement Decree of the Capital M
Among the currencies used in global trade this year, the Chinese yuan has emerged as the second most widely used currency after the U.S. dollar, reflecting its substantial presence. The assessment suggests that the yuan is rapidly gaining momentum as a potential key currency in the future.During the
In 2024, 165,000 foreign workers will enter Korea on non-professional work visas (E-9). This will be the highest number ever. The industries they can work in will also be expanded to include restaurants, mining and forestry.The Ministry of Employment and Labor announced the decision in a meeting of
SK Group Chairman Chey Tae-won recently commented on his relationship with ex-wife No So-young, the director of Art Center Nabi, stating, “Our marital relationship had completely collapsed well before I met someone new. For years, we were only nominally a couple, living as strangers with nothing but
The shipbuilding industry, grappling with chronic labor shortages, is seeing signs of stabilization in its operations as the government has deployed over 14,000 personnel this year. However, concerns about technology leakage and employment uncertainty are rising, as 86% of these new recruits are for