labor ministry

Sovereign bonds S.Korea courts active funds for $140 bn treasury issuance

South Korea’s finance ministry will hold its largest-ever investor relations (IR) event for global institutional investors at the end of this ...

Economy South Korea’s economic system remains resilient: finance minister

The South Korean economy is solid, and the government will take “bold and swift’’ actions if needed to stabilize Asia’s four...

Korean startups Asan Nanum to offer Silicon Valley residence to Korean startups

The Asan Nanum Foundation, a South Korean startup accelerator program operator, said on Thursday it will open a residency space for Korean venture f...

Automobiles Hyundai, Kia production may be disrupted by subsidiary labor strike

Hyundai Motor Co. and Kia Corp., South Korea’s two largest carmakers, are likely to face disruptions in local production as their auto parts s...

Economy Korea’s finance min, central bank chief to take on demographic crisis

South Korea’s finance minister and central bank chief on Monday agreed to address the world’s lowest fertility rate, a most urgent task ...

ESG SK Enmove gets gold rating of EcoVadis ESG evaluation

South Korea’s lube oil maker SK Enmove Co., Korea’s top oil refiner SK Innovation Co.'s subsidiary, said on Thursday it received a Gold ...

Culture & Trends Korea to launch regular K-content festival in June

South Korea plans to host a regular event showcasing its cultural products such as K-pop and foods in June of next year with the goal of making the ...

Sovereign wealth funds Sovereign wealth fund KIC shortlists three CEO candidates

South Korean sovereign wealth fund Korea Investment Corporation (KIC) has shortlisted three candidates as the next chief executive officer, who will...

Automobiles GM Korea’s 2024 sales growth likely stunted due to protracted labor strike

GM Korea Co., the South Korean unit of US auto giant General Motors Co., faces growing disruptions to its vehicle production amid a protracted labor...

Foreign exchange Korea FX authorities, NPS raise currency swap limit to $50 bn

South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, said on Friday it has agreed with foreign exchange...

Earnings Overseas projects boost Korean builders’ earnings; GS profit cut in half

Large-scale overseas construction projects boosted major Korean builders’ quarterly results while lackluster domestic construction work, coupl...

Korean startups Money pours in for technology to reshape Korean restaurants

Investors are betting big on food service technology startups in South Korea as the adoption of self-service systems in the country’s food and...

Business & Politics China exodus to elevate Korea to Asia hub: AmCham chief

South Korea has outstripped Hong Kong and Shanghai as a preferred Asia-Pacific headquarters destination for global companies, trailing only Singapor...

Korea business lobby group eyes tax reform in new parliament

The Korea Enterprises Federation will reinforce efforts to win lawmakers’ nod to its long-desired campaign to slash corporate taxes and inheri...

The KED View Labor reform urged in Korea with higher wages than Japan

Wages at South Korean companies, both large and small, have surpassed those of their Japanese counterparts.According to a report on wage comparisons...

Labor union Samsung affiliate labor unions tie up amid dim outlook

Samsung Group affiliates’ unionized workers on Monday launched a joint organization to improve their bargaining power in terms of wages and we...

Bio & Pharma Celltrion to deliver three treatments to Peru

South Korea’s Celltrion Inc. announced on Thursday that it will supply three treatments, including its blood cancer drug Truxima (rituximab) t...

Aerospace & Defense Hanwha, Saudi gov't to cooperate in defense industry

Hanwha Aerospace Co. and Hanwha Systems Co. announced on Tuesday that they signed a three-party memorandum of understanding (MOU) for defense cooper...

Construction Samsung C&T, Hyundai E&C see higher profits in 2023 on overseas projects

Samsung C&T Corp.'s construction unit and Hyundai Engineering & Construction Co. stood out with increased profits last year on overseas proj...

Economy S.Korea to allow hiring of foreign workers in hotels, resorts

The South Korean government said on Friday that it would grant the hiring of foreign workers in hotels and resorts from next year.The hotel and reso...

Economy S.Korea’s labor gains slow in November with fewer jobs for young people

South Korea’s nonfarm payroll growth slowed in November after the country with the world’s lowest fertility rate marked its 13th straigh...

Leadership & Management Cho Yang-rai to fight back in MBK Partners’ bid to acquire Hankook Tire

Cho Yang-rai, honorary chairman of Hankook & Company Co., has vowed to fight MBK Partners Ltd.’s bid to take over the holding company of S...

Petrochemicals Saudi Aramco’s $7 bn Korea project mired by labor shortage

Saudi Aramco’s $7 billion petrochemical project in South Korea, in what would be its largest-ever investment in the country, has hit a stumbli...

The KED View Five most common frustrations of Korean entrepreneurs

A South Korean company recently gave up on its plan to venture into the burgeoning robot market.Fair-trade regulations that prohibit the creation of...

Korean Investors Korea taps Greyhound Capital, Headline Asia as venture fund managers

South Korean Ministry of SMEs and Startups announced the results of selecting global fund management companies for the year 2023 on Monday. The chos...

Retail Costco Korea under heavy scrutiny over cart pusher’s death

Costco has come under heavy scrutiny after a 29-year-old cart pusher at one of its outlets near Seoul died after working in scorching heat in June, ...

Business & Politics S.Korea to fully open gov't R&D projects to foreign researchers

South Korea's Ministry of Trade, Industry and Energy on Wednesday said it will allocate 5 trillion won ($3.8 billion) of its R&D budget for exce...

Shareholder activism S.Korea files to revoke PCA ruling in favor of Elliott

South Korea has decided to challenge an international arbitration tribunal’s decision a month ago ordering the Korean government to compensate...

Bio & Pharma Corentec enters Japanese artificial joint market

Corentec Co., a South Korean company that develops artificial joints and spinal implants, is making a full-fledged entry into the Japanese market. T...

Economy Shrinking youth jobs cast shadow over S.Korea’s labor market

Employment in South Korea extended its growth streak in June but its gains slowed for the third straight month, with youth jobs declining for eight ...