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Mon, September 25, 2023 | 22:37
Large firms to share wage hike burden of subcontractors
Conglomerates will have to share the burden of subcontractors hit by the steep minimum wage hike. They should not force subcontractors to supply exclusively for them or restrict their exports of technology. These are part of the subcontractor law revision by the Fair Trade Commission (FTC) that will go into effect from Tuesday.
To beat summer heat
Models show diverse home meal replacements and ingredients traditionally known as “invigorating” food for summer at a Home plus store in downtown Seoul, Monday. The discount chain offers “samgyetang,” or ginseng chicken soup, as well as abalone and eel at discounted prices. / Yonhap
Analysts upbeat about new Hyosung affiliates
The new companies that spun off from Hyosung went in different directions on the day they debuted on the stock market. Analysts are mostly positive about them since each has a competitive edge in their respective businesses.
Naver in hot seat
Naver CEO Han Seong-sook, right, speaks at a forum to reform internet portals, Friday, held at the National Assembly. The country's top portal operator has been facing increasing demands that it should switch to an “outlink” system in its news service and restrict users' comments on news articles, amid criticism that it lost its neutrality in news editing.
Consumers protest changes in liquor taxes
The government's move to revise the liquor tax is expected to face opposition by consumers who have been enjoying imported beer at relatively cheap prices.
Majority of Koreans want to keep nuclear reactors
While the government is speeding up the transition to renewable energy from nuclear power, voices are getting louder that it should reconsider the plan amid the side effects such as possible electricity rate hikes and environmental problems caused by solar power plants. The ratio of those supporting expanding or maintaining nuclear reactors also has increased in polls.
President Moon turns to chaebol for job creation
Following President Moon Jae-in's first meeting with the head of the country's top chaebol in India, there are expectations the administration may change its anti-conglomerate stance and acknowledge them as major job creators.
'Not a good time to be chaebol'
The country's leading conglomerates are facing unprecedented simultaneous bad events. On top of the current administration's pressure to reform them, the tycoons of the top business groups are making headlines for personal problems such as embezzlement and divorce. Chaebol lobby groups which should defend them are also helplessly struggling for survival.
SC, Citi, HSBC send hefty dividends abroad
Foreign banks operating in Korea are sending on average 1.2 trillion won ($1.07 bil.) to their headquarters as dividends and royalties among other payments each year. While taking most of what they earn here out of the country, they are apparently giving little back to the local community, data showed Sunday.
'Moon's expansionary fiscal policy will cause problem'
While the government is expected to come up with a “super budget” with the ruling party demanding a double-digit increase, an opposition lawmaker who served as vice finance minister warned about the consequences that an expansionary fiscal policy can bring about.