The COVID-19 pandemic has prolonged a global economic recession, accompanied by disruptions in global supply chains that jeopardize many work environments.　 Chung Hyoung-Woo, secretary-general and CEO of the Korea Labor and Employment Service, said the ongoing economic difficulties could potentially escalate conflicts between labor and management over a wide range of matters, including wages, layoffs, safety, work hours and unionization. “The outbreak of the COVID-19 variant has cast un

Prime Minister Kim Boo-kyum on Wednesday held an offline meeting with parents and students to reassure the safety of vaccination for children, amid a growing backlash against the government’s inoculation policy for the adolescent population. Education Minister Yoo Eun-hae and Korea Disease Control and Prevention Agency Commissioner Jeong Eun-kyeong also joined the meeting held in central Seoul, where some 20 students and parents also participated. “The government has carefully r

Candidates draw large crowds, efforts to keep social distancing appear futile

South Korea's main stock index ended higher Wednesday, aided by technology stocks, but investors remain cautious ahead of the Federal Reserve's rate decision later in the global day. The Korean won fell against the US dollar.  The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.44 points, or 0.05 percent, to close at 2,989.39 points, snapping a three-session losing streak. Investors are waiting on cues from the two-day Fed's meeting, which ends Wednesday, to reorganize their p

 Audi Korea sold a total of 21,242 cars from January to November this year, becoming the third-best-selling imported carmaker in Korea, the automaker said Wednesday. According to Audi Korea, it launched various premium and high-performance models such as sedans, SUVs, and electric vehicles this year to enhance its brand image in South Korea as a premium mobility brand. The carmaker accumulated its EV line up in South Korea by launching the Audi R8 V10 Performance in February, followed by

Trade Week 2021 ended its four-day run on Friday, connecting local small and medium sized enterprises with foreign buyers and inviting experts to share insights on globalization strategies. Organized by the Seoul Business Agency, the event offered various business opportunities for participating small enterprises through programs such as online business matching with foreign buyers, live commerce sessions and product launch events. Local daily necessities maker CM Company inked a deal with

South Korea's spy agency warned Wednesday of a possible rise in the number of hacking attempts to glean information on the country's diplomatic and security affairs ahead of the March presidential election. In a document on cybersecurity, the National Intelligence Service said state-backed hackers could beef up attempts to steal information on Seoul's North Korea policy and other security issues as a new administration is set to be launched in the South in May next year. This year, South Korea

LG Group’s chemicals and battery units, LG Chem and LG Energy Solution, said Wednesday that they had acquired a 2.6 percent stake in Canadian battery recycling company Li-Cycle Holdings by investing 30 billion won ($25.3 million) each. Li-Cycle, based in Toronto, operates North America’s largest lithium-ion battery recycling facility. The firm recycles waste from the EV battery manufacturing process and recovers battery metals for reuse. The Canadian firm recently issued new shar

SK Group Chairman Chey Tae-won made a rare appearance in a session held by the nation’s top antitrust watchdog to defend his controversial stock purchase in 2017, when SK acquired a silicon wafer unit from its crosstown rival LG Group.  The Fair Trade Commission has reviewed the case over allegations that SK Inc., the holding company of SK Group, deliberately helped its chairman purchase the stock at a cheaper price to benefit from hefty dividends.  The deliberation session was

Delivery app Baemin begins door-to-door unmanned delivery service

With the end of the year fast approaching, broadcasters are preparing to hold their annual year-end music festivals, featuring star-studded lineups of artists and hosts. The final list of performers for the state-run KBS’ “Song Festival” shows 20 groups and artists, including Red Velvet, Enhypen, Aespa, Lee Mu-jin, Seventeen, Sunmi, Nu’est, Kang Daniel, Astro, Brave Girls, NCT U, Kim Woo-seok, StayC and Ive. Under the theme of “With K-Culture,” performances

South Korea’s top financial regulator on Wednesday told tech firms here that their financial services are to operate under and comply with existing financial regulations. The remark came amid concerns of tech giants Naver and Kakao’s fast-growing online and mobile financial services as related regulations on their customer protection and data use remain unclear. “Big Tech’s foray into the finance sector will be carried out under the same financial regulations and custom

More than 3 million Koreans still de facto jobless

Korean automaker ranks 4th in global sales from January to September