No Woo-rae Acquitted Again in Political Bribery Case
No Woo-rae, a former member of the Democratic Party, has been acquitted again in a political bribery case involving millions of won in illegal campaign funds. The Seoul Central District Court's Criminal Appeals Division 5-2, led by judges Kim Yong-jung, Kim Ji-sun, and So Byeong-jin, upheld the initial ruling of not guilty on August 21. The court determined that evidence collected by prosecutors during a search of the mobile phone of Jo, the spouse of businessman Park, was illegally obtained and
Samsung and SK Hynix Enter Shareholder Return Competition Amid AI Boom
Samsung Electronics and SK Hynix are entering a competition for shareholder returns, fueled by a cash influx from the booming artificial intelligence (AI) memory market. SK Hynix kicked off the rivalry by announcing a 40 trillion won stock buyback and cancellation. Samsung Electronics is also expected to finalize its next shareholder return policy this month, raising interest in how it will allocate cash generated from AI semiconductors between investments and shareholder returns.According to in
South Korea Grants Long-Term Residency to Sri Lankan Workers Who Rescued Air Force Pilots
The Ministry of Justice has granted long-term residency status to two Sri Lankan workers for their role in rescuing Air Force pilots whose lives were in danger after a crash.On August 21, the Ministry announced that it recognized the special contributions of the two Sri Lankan nationals who rescued the pilots of an Air Force fighter jet that crashed in the West Sea in August 2022. They were awarded the Skilled Worker Visa (E-7-4) to allow them to reside in South Korea more securely.The workers e
Samsung Expected to Overtake Apple as Smartphone Market Leader This Year
Samsung Electronics is projected to reclaim its position as the leading smartphone manufacturer this year, four years after losing the title to Apple.On August 21, Bloomberg reported, citing data from global market research firm Counterpoint Research, that global smartphone shipments are expected to decline by 14.3% this year due to a shortage of memory supply and subsequent price increases. However, Samsung is anticipated to achieve a remarkable 0.8% increase in shipments compared to last year,
Lotte Wellfood Apologizes for Ammonia Leak at Yeongdeungpo Plant, Promises Safety Measures
Lotte Wellfood officially apologized on August 21 for an ammonia leak incident that occurred at its Yeongdeungpo plant in Seoul and announced plans to implement preventive measures. In a statement, Lotte Wellfood expressed, "We sincerely apologize for causing great concern to nearby residents and customers due to the gas leak incident at the Yeongdeungpo plant." The company added, "We will cooperate sincerely and transparently with the investigation by relevant authorities and will conduct thoro
Anyang Mayor Choi Dae-ho Calls for Increased Awareness of Unpaid Vehicle Taxes
Anyang Mayor Choi Dae-ho emphasized the importance of raising awareness about unpaid vehicle taxes, stating, "I hope this crackdown will foster a culture of voluntary payment among those with outstanding debts." On this day, Mayor Choi announced a joint operation with Gyeonggi Province, designating a day for a comprehensive crackdown on unpaid vehicle license plates. The mayor is launching a rigorous enforcement campaign targeting vehicles with unpaid car-related fines. This operation aims to a
Jipyung Law Firm Supports Successful 12th South Korea International Arbitration and Corporate Crime Summit
Jipyung Law Firm announced on August 21 that it participated as a main sponsor in the 12th South Korea International Arbitration and Corporate Crime Summit, hosted by Legal Plus, a global legal event organization, on August 20.This year’s summit, marking its 12th edition, covered a wide range of pressing issues in international disputes, including interim relief measures in cross-border disputes, M&A and joint venture-related conflicts, construction and energy sector disputes, and technology dis
Renault Korea Reaches Tentative Agreement on Wage Negotiations
Renault Korea announced on August 21 that it reached a tentative agreement during the 15th round of negotiations for the 2026 wage and collective bargaining agreement with its representative union on August 20.After 16 hours of negotiations, both sides agreed to work together to overcome the company's challenging management situation.Negotiations began on April 27, and over the past four months, a total of 15 rounds of main and practical negotiations have taken place.The tentative labor agreemen
Private Mid-Rate Loans Excluded from Household Loan Limits Starting August
The financial authorities have decided to exclude the increase in private mid-rate loans from the household loan limits of savings banks, credit finance companies, and mutual finance companies starting this month. This measure aims to encourage funding for low- and mid-credit borrowers while alleviating the burden of total loan management for the second financial sector.According to the financial sector on the 21st, the Financial Supervisory Service convened household loan managers from the Nati
Blue House Calls for North Korea to Cease Unnecessary Criticism and Work Towards Peaceful Coexistence
The Blue House urged North Korea to "stop unnecessary slander against the South and move forward together towards peaceful coexistence on the Korean Peninsula."A Blue House official made this statement on the 21st in response to a speech by Kim Yo-jong, deputy director of the North Korean Workers' Party, who criticized President Lee Jae-myung by name the previous night. The official noted that "derogatory remarks about our government and president do not help build mutual trust."The official emp