The South Korean government has decided to introduce a six-month grace period for the implementation of a new shorter working hours system, which is set to take effect from July 1.The decision was made at a hurriedly arranged meeting between senior officials the ruling Democratic Party (DP), the gov
The Mirae Asset Financial Group has become the second largest shareholder of Vietnam’s second largest pharmaceutical company.According to the securities industry on May 4, Mirae Asset Global Bio-Investment Mix 1, a fund established via a limited partnership with Mirae Asset Daewoo Securities as the
The Korean government and GM decided to invest US$ 7.15 billion to normalize GM Korea.The government finalized its plan to support GM Korea in a meeting of ministers presided over by Kim Dong-yeon, deputy prime minister and minister of strategy and finance, on May 10.Following the meeting, the Minis
A report released last month that South Korea has the second highest smartphone data charges among the world’s major countries. In this regard, some local mobile carriers said the report is inaccurate data that did not reflect actual data nor consider quality variables.According to telecommunication
On July 27, South Korean President Moon Jae-in and North Korean leader Kim Jong-un held a summit and adopted the Panmunjom Declaration."The South and the North have agreed that main measures taken by North Korea were very meaningful and important measures for the denuclearization of the Korean Penin
Although the widening “fat-finger” trading scandal at Samsung Securities Co. is snowballing into a public movement to ban short selling on the South Korean market, institutional and foreign investors are increasing the volume of short selling for Samsung Securities. However, government officials, in
South Korea’s top chat app operator Kakao Corp. which has been leading technology innovation with various services is now seeking to make “profit” and “innovation” at once. The company will charge some taxi services and put the management in front to achieve a qualitative growth. It also considers b
According to industry sources, GM Korea is likely to increase imports from the United States and reduce its domestic production volume to a large extent after Gunsan Plant shutdown and KORUS FTA revision.GM International President Barry Engle had a meeting with unionized GM Korea workers on March 27
Tata Daewoo Commercial Vehicle Co. is receiving criticism from customers. The company is neither recalling nor servicing its trucks even when they were found to have serious defects in safety.According to auto repair industry sources and truck owners, a considerable number of Tata Daewoo Commercial
Negotiations have started between the South Korean government and GM over the future of GM Korea. GM is calling for a debt-equity swap, a paid-in capital increase, and so on while threatening to shut down GM Korea’s plants. The government, in response, is adhering to three principles, including GM’s
A high-ranking South Korean government official said on February 19 that the ongoing issues regarding GM Korea cannot be resolved overnight and the government cannot provide any support for GM Korea without detailed information and data on the current state of its business.The Korea Development Bank
According to industry sources on January 7, the European Commission initiated an anti-dumping investigation on January 27 with regard to tubes and pipe fittings imported from steel exporting countries such as South Korea. This is the first time in four years that the European Union (EU) called South
A sign of the crystallization of the Canal Istanbul construction project expected to amount to about 18 trillion won is attracting more attention from Korean builders.According to the Haberturk Newspaper, Turkey's Ministry of Transport and Maritime and Telecommunications recently notified the Minist
There are concerns that the semiconductor market will peak soon and the super boom in memory chips will turn downward afterwards even if the market demand next year maintains at the same level this year as the supply of memory chip manufacturers, including Samsung Electronics, exceeds the demand.How
The price of the iPhone X, the highly anticipated 10th anniversary phone from Apple, in South Korea is set at some 1.6 million won (US$1,435) for a 256GB model,According to Apple Korea on November 1, the 5.8-inch phone’s price is set at 1.42 million won (US$1,274) for a standard 64-gigabyte model an
The Minjoo Party lawmaker Hong Eui-rak said on October 25 that 26.35 trillion won (US$23.7 billion) is required until 2035 for the storage of spent nuclear fuel and 37.77 trillion won (US$33.9 billion) is required for permanent disposal until 2053.According to the Radioactive Waste Management Act, t
According to industry sources on October 16, Consumer Reports recently conducted a performance test on three-door and four-door French-door refrigerators of major home appliances companies, selecting “Top 3” products. Among them were four products of LG Electronics and Samsung Electronics. A French-
Antibiotic pollution is a significant cause of Anti-microbial Resistance (AMR), according to experts from DSM Sinochem Pharmaceuticals (DSP), the Indian Institute of Technology (IIT), New Delhi, and other organizations that gathered together for a “Sustainability through Excellence in Manufacturing
Naver will promote the artificial intelligence (AI) technology-based voice and image search functions as its main mobile services.During the Naver Design Colloquium 2017 held at Grand InterContinental Hotel in Samseong-dong, Gangnam, on August 23, Kim Seung-eon, director of the service design divisi
Google Korea held a press conference in Seoul on August 22 and released a report on effects the open Android ecosystem has on the South Korean economy.According to the report drawn up by consulting firm AlphaBeta, the open Android ecosystem reduces South Korean manufacturers’ time for development by