Starting next year, foreign residents in South Korea seeking eligibility for health insurance as dependent beneficiaries must have a minimum of 6 months of residency.According to the Ministry of Health and Welfare and the National Health Insurance Service on Oct. 26, an amendment to the Health Insur
Google, which accounts for the highest share of domestic network traffic in South Korea, has been highlighted for not paying any network usage fees in the country.On Oct. 26, Kim Byung-wook, a member of the National Assembly’s Science, ICT, Broadcasting and Communications Committee from the People P
On Oct. 26, KGC Korea Ginseng Corporation announced its participation in North America’s largest health food ingredient exhibition, SupplySide WEST 2023.For the first time this year, KGC Korea Ginseng Corporation operated a JUNG KWAN JANG booth at the ingredient exhibition, showcasing a variety of r
SK Innovation is set to embark on a mangrove reforestation project in Fiji. The project aims to contribute to solving the pressing environmental challenges that are national crises in the region, such as rising sea levels caused by global warming.SK Innovation announced that it had signed a Memorand
During President Yoon Seok-yeol’s state visit to Saudi Arabia, a total of 46 memoranda of understanding (MOUs) and contracts were signed at the 2023 Korea-Saudi Investment Forum. This signifies a boost in economic cooperation between the two nations across various industries, including electric vehi
Hyundai Motor and Kia Motors have successfully settled their wage and collective bargaining agreements (CBA) without labor disputes for the second consecutive year, but the aftermath poses significant challenges. The labor unions of Hyundai and Kia have managed to secure the highest-ever wage increa
Amid tensions between the U.S. and China, domestic businesses are growing increasingly anxious as China includes graphite, a crucial component for secondary batteries, in its export control list. This move towards controlling not just gallium and germanium but also graphite by China in the second ha
SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced on the 20th that the application of the updated Novavax COVID-19 vaccine (NVX-CoV2601), developed by Novavax, a global company advancing protein-based vaccines with its Mat
Kolmar Korea's sun care products are extending their reach worldwide. The equation "Kolmar Korea = Sun Care" is being recognized not just in Korea but globally. The critical reasons for Kolmar Korea's sun care products achieving this world-class status lie in its technical prowess and the trust of c
As of the end of the first half of this year, there were approximately 86 domestic corporate venture capital firms (CVC) established and held by companies to invest in alignment with their business strategies. CVC’s share of the total venture investment amount stands at 22%, and the government has a
Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho said on Oct. 19 that Korea will not exit from China, in response to concerns about the Korea’s withdrawal from China as Korea, Japan and the United States have strengthened their trilateral cooperation.“There is no reason to tu
The Korea Institute of Ocean Science and Technology (KIOST) announced on Oct. 18 that it has discovered a peptide, or short chain of amino acids linked by peptide bonds, that inhibits the formation of amyloid-β plaques, a known cause of dementia, in the venomous protein of jellyfish. The institute h
With the efforts to secure the hosting of the 2030 Busan World Expo nearing its conclusion, Official Development Assistance (ODA) support for developing countries has emerged as a key focus to secure the favor of these countries. This is seen as an intention to solidify the favor of developing count
Eco-friendly car exports, including hybrid, electric, and hydrogen vehicles, recorded US$18 billion in the first nine months of this year, outpacing the total eco-friendly car exports of US$16.1 billion in the previous year.According to a “September 2023 Automotive Industry Trends” report released b
The U.S. Department of Commerce has intensified the ongoing “chip war” between the United States and China by effectively blocking all semiconductor deals with China, including prohibiting exports of low-end artificial intelligence (AI) chips, on Oct. 17 (local time).The Ministry of Trade, Industry,
The share of Chinese-made drones in Korea’s rural areas has ballooned, following the trend of Chinese-made solar power facilities across Korea.According to data that the Ministry of Agriculture, Food and Rural Affairs submitted to the Office of Ahn Byung-gil, a member of the National Assembly on Oct
As the U.S. administration has raised a countervailing duty on Korean steel products by regarding cheap electricity in Korea as a kind of government subsidy for steelmakers, the Korean government has confirmed its decision to challenge the U.S. administration over the case in the U.S. court along wi
South Korean defense industry firms have entered into a second-stage weapons export contract with Poland worth 30 trillion won (US$22.12 billion). This would elevate South Korea to the fourth-largest defense industry exporter worldwide in one go. However, the finalization of the contract, which was
In a recent move, the U.S. designated semiconductor plants of Samsung Electronics and SK hynix in China as “Verified End Users (VEU).” In response, Ahn Deok-geun, the chief trade negotiator of the Ministry of Trade, Industry, and Energy, said, “By mobilizing consultation channels centered on the Pre
Flitto (CEO Simon Lee, KOSDAQ 300080), a global integrated language platform and AI data solution provider, announced on the 16th its participation as an exhibitor at Expand North Star 2023, a highly anticipated expo along with GITEX Global. The AI data company will be joining the expo ecosystem as