Labor Board Rules Hyundai Sales Staff Are Not Obligated to Negotiate
The Central Labor Relations Commission has reaffirmed that Hyundai Motor Company is not obligated to negotiate with its sales staff, known as car masters. On August 31, the commission held a review meeting regarding a request for corrective action concerning Hyundai's announcement of its negotiation demands, maintaining its initial ruling. Nine subcontractor unions had demanded negotiations with Hyundai, but the company denied its user characteristics and did not announce the request, prompting
U.S. Aims to Curb China's Low-Cost Exports Through G20 Cooperation
The U.S. government has made it clear that it intends to build a multilateral pressure front through the G20 to curb China's low-cost overproduction exports. This marks a shift from a bilateral trade conflict with China to a global coalition response. In reaction, the Chinese government has strongly opposed this move, emphasizing mutual cooperation, indicating a potential escalation in economic tensions between the two nations.Scott Vesant, U.S. Secretary of the Treasury, stated in an interview
Nine South Koreans Stranded in Nepal Floods Return Home Safely
Nine of the ten South Koreans stranded in areas affected by severe flooding in Nepal have returned home safely.On August 31, Doosan Enerbility announced that the nine employees rescued from the flood site arrived in South Korea around 2 p.m. local time.According to Doosan Enerbility, the employees were checked for health issues immediately upon their return and were reported to be in good condition, not requiring hospitalization.A company representative stated, "They confirmed their health statu
Prosecutors Seek Death Penalty for High School Girl's Murderer
Prosecutors have requested the death penalty for Jang Yoon-ki, who murdered a high school girl with whom he had no prior acquaintance for sexual purposes.On August 31, the Gwangju District Prosecutor's Office made the request during a sentencing hearing at the Gwangju District Court, presided over by Judge Lee Jeong-ho, for violations of the Special Act on the Punishment of Sexual Violence Crimes (rape and murder).The primary charge against Jang, rape-murder, carries a maximum penalty of death o
Body Found in Nepal Hydropower Tunnel Where 9 Missing Koreans Worked
A body has been discovered inside a tunnel at a hydropower plant in Nepal where nine missing South Koreans were employed following a devastating flood. The identity of the victim has not yet been confirmed.According to Yonhap News on August 31, citing AFP, Nepal's military announced that rescue teams recovered the body from the tunnel of the Upper Trishuli (UT)-1 power station in central-northern Nepal.The military explained that a Chinese tunnel rescue team, participating in the Nepalese rescue
Seoul City Bus Faces Strike Threat as Union Files Labor Dispute
The Seoul city bus union and management are facing a potential strike as they remain at an impasse over the criteria for applying ordinary wages.On August 31, the National Automobile Workers Union's Seoul City Bus Union declared a breakdown in negotiations for the 2026 collective bargaining agreement and submitted a request for labor dispute mediation to the Seoul Regional Labor Relations Commission. The union plans to convene an emergency committee to determine the level of collective action, i
Youngpoong Claims Korea Zinc's Vote Restriction is Illegal
The Supreme Court upheld a lower court's ruling that Korea Zinc's restriction of Youngpoong's voting rights during a temporary shareholders' meeting last January was illegal.On the 31st, Youngpoong and MBK Partners reported that the Supreme Court's third division, led by Justice Lee Heung-koo, made this determination on the 28th in a ruling regarding Korea Zinc's appeal against a provisional injunction.Chairman Choi Yoon-beom of Korea Zinc's side had restricted Youngpoong's voting rights at the
Exodus of Young Investors: Trading Volume Drops 60% in Three Months
The exodus of young investors in their 20s and 30s from the stock market is becoming more pronounced. Trading volume among this demographic at major brokerages has plummeted by over 60% since June. The number of stock investors in their 20s and 30s has also decreased by nearly 30%. Analysts suggest that the investment sentiment of these young investors, who had jumped on the stock trading bandwagon in the latter half of last year, has rapidly cooled as market volatility has persisted since June.
Young Investors Turn Away from Korean Stocks, Shift to U.S. Markets and Cryptocurrencies
At the end of last year, there were 14.42 million domestic stock investors in South Korea, an increase of over 300,000 from the previous year. This surge was fueled by a rising stock market in the latter half of the year, attracting many young investors in their 20s and 30s. This trend continued into the first half of this year. However, since late June, the domestic stock market has experienced a rollercoaster ride, leading to a rapid decline in investor sentiment. Industry analysts note that w
People Power Party Leaders Meet with Former Presidents to Unite Ahead of Elections
Jung Jeom-sik, the floor leader of the People Power Party, visited former President Lee Myung-bak on August 31, following his invitation to former President Park Geun-hye to a party retreat. Lee emphasized the importance of party unity and urged the need to fight against the ruling party with the support of the public. The meetings with former presidents are seen as efforts to resolve internal conflicts and consolidate the conservative base.On this day, Jung met with Lee at the Yeongpo Building