SEOUL, Jun. 8 (Korea Bizwire) –As the United States Congress deliberates the Biosecure Act, which would prohibit federal agencies from dealing with certain Chinese biotech companies, South Korean pharmaceutical contract development and manufacturing organizations (CDMOs) are seizing the chance to attract new clients. The proposed legislation, which has reached the House floor for a full [...]
SEOUL, Jun. 8 (Korea Bizwire) –As South Korean consumers increasingly pursue value amid high inflation, convenience store chains are rolling out a wave of ultra-low-cost products priced below 1,000 won. With the “lunchhflation” of soaring midday meal costs straining office workers, these inexpensive food items have found particular appeal as affordable lunch options. The popular [...]
SEOUL, Jun. 7 (Korea Bizwire) – As he was inducted into the League of Legends Hall of Legends on June 6, Lee Sang-hyeok, known as “Faker,” the celebrated professional gamer for the T1 team, spoke about the profound impact his career has had on fans worldwide. “Throughout my professional life, I’ve faced many ups and [...]
SEOUL, Jun. 7 (Korea Bizwire) – Facing mounting losses due to the emergence of formidable “C-commerce” rivals like Alibaba’s AliExpress and Temu, South Korea’s major e-commerce players have embarked on aggressive cost-cutting measures. Industry experts predict that these efforts to bolster profitability, rather than pursue growth at any cost, will continue throughout the year as external [...]
SEOUL, Jun. 7 (Korea Bizwire) – On the 31st anniversary of Samsung’s famous “New Management” declaration by its late chairman, Lee Kun-hee, a sense of crisis is gripping the tech giant as it grapples with declining profits and an unprecedented labor dispute. Since Lee’s groundbreaking speech in Frankfurt in 1993, where he warned that Samsung risked [...]
SEOUL, Jun. 7 (Korea Bizwire) – Facing intensifying headwinds in the global steel industry, POSCO, South Korea’s largest steelmaker, has reinstated a five-day workweek for its executives, just four months after pioneering a four-day schedule in an attempt to improve work-life balance. According to industry sources, POSCO notified employees last month that senior managers would return [...]
HANOI, Jun. 7 (Korea Bizwire) – As soaring prices and the weakening South Korean won make living costs increasingly untenable, Vietnamese workers in the country are tightening their belts, cutting back on grocery and remittance expenses to make ends meet, according to Vietnamese media reports. Nguyen Phuc Thien, 28, who has worked at a container flooring [...]
JEJU, Jun. 7 (Korea Bizwire) – For the next few weeks, visitors to the Haenyeo Museum on the resort island of Jeju can glimpse into the vanishing world of the region’s celebrated free-diving women through the lens of Peter Ashley Lee, a 42-year-old photographer. Lee’s exhibition, “The Last Mermaid,” which opened on June 4 and runs [...]
SEOUL, Jun. 7 (Korea Bizwire) – In an ongoing copyright battle over the “Legend of Mir” intellectual property jointly owned by game developers Actoz Soft and WeMade, South Korea’s Supreme Court has ruled that the case should be re-examined based on Chinese law, not domestic regulations. On June 6, it was reported that the Supreme Court’s [...]
SEOUL, Jun. 7 (Korea Bizwire) – South Korea’s prosecutor general has issued a directive calling for stern measures against organized criminal groups, citing growing public concerns over not just traditional gang violence but also newer forms of racketeering like illegal online gambling and private lending rackets. According to sources from legal circles, Prosecutor General Lee Won-seok [...]