Seoul, May 2 (IANS) Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, continued to stage a strike on Saturday for a second day, according to union officials, with the union and the company showing little signs of bridging gaps over wages and other issues.The union of Samsung Biologics began the strike on Friday, marking the first walkout since the company’s establishment in 2011, reports Yonhap news agency.The union is seeking a 14 percent increase in both base and perfor…
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Seoul, May 1 (IANS) Unionized workers at Samsung Biologics, the biotech arm of Samsung Group, began a five-day general strike on Friday, demanding higher wages and expanded performance-based compensation.The walkout marks the first labour strike since the company’s establishment in 2011.Samsung Biologics said it is deploying all available personnel to minimize disruption but acknowledged that some impact to operations may be unavoidable, reports Yonhap news agency.The company estimated that loss…
Seoul, April 28 (IANS) Issues between close allies should be resolved based on mutual respect and fundamental principles, South Korea’s President Lee Jae Myung said Tuesday. Lee made the remarks during a Cabinet meeting at Cheong Wa Dae, stressing that “cooperation with traditional allies should also be developed.””(We) need the wisdom to build healthy, future-oriented relations with traditional allies, while resolving pending issues based on mutual respect, common sense and principles,” he told…
Seoul, April 27 (IANS) Agriculture Minister Song Mi-ryung said on Monday the government will continue efforts to stabilise supplies of key agricultural inputs amid the ongoing Middle East crisis.Song stressed at a press conference that sufficient supplies of major agricultural goods, such as fertilisers and agricultural films, needed during the spring planting season have already been secured, reports Yonhap news agency.The agricultural ministry will swiftly execute the 377.5 billion-won (US$256…
Seoul, April 24 (IANS) Hyundai Mobis, South Korea’s leading auto parts maker, said on Friday its first-quarter net profit fell 14 per cent from a year earlier as weaker global vehicle demand weighed on earnings.Net profit for the three months ending in March fell to 883.05 billion won ($596 million) from 1.03 trillion won a year earlier, the company said in a regulatory filing.”Rising external uncertainties linked to prolonged tensions in the Middle East dampened vehicle sales and parts demand,”…
Seoul, April 24 (IANS) The government will designate 10 cities to serve as major hubs for startup ecosystems by next year in a bid to promote balanced regional growth and create more jobs for young people, the finance ministry here said on Friday.It will first designate four cities that house the country’s major science institutes — Daejeon, Daegu, Gwangju and UIsan — as startup hubs this year, and name six more cities outside of the greater Seoul area with such potential next year, according …
Seoul, April 16 (IANS) Samsung Electronics has filed for a court injunction in connection with potential collective action by its labour union that could disrupt production, industry sources said on Thursday.According to the sources, the company made the legal request with the Suwon District Court earlier in the day in an apparent move to prevent the union from occupying key facilities, such as semiconductor production lines, in order to avoid significant operational losses, reports Yonhap news …
Seoul, April 14 (IANS) South Korea has shared information with Iran on Korea-related ships stranded in the Strait of Hormuz, sources familiar with the matter said Tuesday, in a possible sign that Seoul may seek to negotiate their passage amid the US-Iran war.Chung Byung-ha, special envoy to Iran, reportedly shared the details during his consultations with Iranian officials, including efforts to ensure the safety of the vessels and crew members.Chung is in Tehran this week as the foreign minister…
Seoul, April 13 (IANS) A pro-North Korea newspaper based in Japan on Monday called for countries to distance themselves from the United States in a bid to defend their national interests amid the US-Iran war and Tehran’s effective closure of the Strait of Hormuz. Choson Sinbo claimed in its commentary that the blockade of the crucial waterway and volatile oil prices showed that the more countries depend on US-led international order, the greater they could face the risk of their national interes…
Seoul, April 11 (IANS) Cash assistance for the bottom 70 per cent of income earners will begin being rolled out later this month, the government announced on Saturday, as part of efforts to ease the financial strain caused by rising oil prices.The aid will first reach the most vulnerable within that income bracket starting April 27 and expand to the broader eligible group May 18, reports Yonhap news agency.Approximately 32.5 million people are eligible for the aid, with payments ranging from 100…