Seoul, July 14 (IANS) South Korea detected 2.4 trillion won ($1.61 billion) worth of illegal foreign exchange transactions through May as the country stepped up surveillance against related crimes amid the volatility in the currency market, the finance ministry said on Tuesday.The Ministry of Finance and Economy announced the findings during a meeting with foreign exchange-related agencies amid growing concerns over illegal transactions following the Korean won’s recent slide against the U.S. do…
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Seoul, May 11 (IANS) The largest labour union at Samsung Electronics on Monday reiterated its demand that the company allocate 15 per cent of operating profit to employee performance-based bonuses and remove the payout cap, warning that mediation efforts could collapse if no progress is made.Choi Seung-ho, head of the union, reaffirmed the labor group’s position ahead of follow-up mediation talks aimed at averting the union’s planned 18-day strike beginning May 21, reports Yonhap news agency.”We…
Seoul, Jan 31 (IANS) The funeral ceremony for former South Korean Prime Minister Lee Hae-chan was held on Saturday with the attendance of top dignitaries, including President Lee Jae Myung.The late Lee died Sunday aged 73 while on a business trip to Vietnam after suffering cardiac arrest. His body was flown home Tuesday, beginning a five-day funeral period that saw large numbers of mourners paying tribute at his memorial altar at Seoul National University Hospital in the capital.The funeral cere…