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May 26, 2017

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Business > Asia > Korea
Shares in troubled South Korean shipping giant Hanjin plunged 12 percent Monday after the company announced plans to shutter its European business, fueling fears it could be heading towards liquidation.
 
Hundreds of South Korean Galaxy Note 7 smartphone owners were preparing Monday to file a lawsuit against Samsung Electronics over the fire-prone device.
 
Changing cityscape
North Korean men and women walk past buildings under construction on "Ryomyong Street" on Monday, Oct. 17 in Pyongyang, where North Korean leader Kim Jong Un has put his soldier-builders to work on yet another major project .
 
A tough new anti-graft law came into force in South Korea Wednesday with many hailing it as a milestone to help root out widespread low-level corruption.
 
Tens of thousands of unionised workers at South Korea's Hyundai Motor staged their first full strike on Monday for more than a decade after negotiations over a wage increase stalled.
 
The problems that sank South Korea's Hanjin Shipping this week could be just the tip of the iceberg, analysts say, with the long-running global economic downturn having left the industry drowning in excess capacity.
 
S Korean tech startups accuse Naver and Kakao of copying their software
Local startups are speaking out against South Korean IT giants that have allegedly plagiarized their services, saying that such unfair practices further marginalize smaller companies in the country's highly competitive tech sector.
 
Five Korean coal-fired power plants operated by a state-run company have seen a sharp rise in their profitability amid the weeks-long heatwave, data showed Monday.
 
South Korea fines, halts sales of VW cars for forged tests
South Korea has fined Volkswagen 17.8 billion won ($16 million) and suspended sales of 80 VW models, alleging the German carmaker fabricated documents on emissions or noise level tests.
 
Tens of thousands of South Korean auto and shipbuilding workers are set to launch partial strikes this week after negotiations over wage increases stalled.
 
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