Park Sam-koo, chairman of Kumho Asiana Group, will submit a self-rescue plan for Kumho Tire that includes the sell-off of Chinese plants to the creditors by September 12. In addition, he will sell off a 4.4-percent stake in Daewoo Engineering & Construction worth 130 billion won while asking executives to return their pays as part of the restructuring measures. An industry official familiar with the matter said on September 11, "Kumho Asiana will soon deliver to the creditors a high-inten...

The government is pushing forward with a plan worth US$8 million to help out vulnerable people in North Korea. Meanwhile it won't raise a lawsuit against China with the World Trade Organization in relation to the latter country's retaliatory measures after Korea's decision to deploy the Terminal High Altitude Area Defense (THAAD) anti-missile defense system in its soil. Baek Tae-hyun, spokesperson for the Ministry of Unification, said on September 14, "We are reviewing a plan to give $8 milli...

The Daesan petrochemical industrial zone in Seosan, South Chungcheong Province, will transform into an advanced chemical industrial complex. The nation's major petrochemical companies may invest up to 10 trillion won in this area. On September 14, S-Oil, Lotte Chemical, Hanwha Total, South Chungcheong provincial government, and Seosan city gathered in Lotte World Tower and signed a memorandum to create a Daesan specialized industrial complex. Currently the area is home to large petrochemical ...

Private-sector power generators are complaining mightily about the government's pressure on them to switch coal-fired power plants they are building into ones based on liquefied natural gas. That's largely because the government is mum about the sunk cost and other costs to retrofit the plants estimated to be as high as 2.6 trillion won. According to private-sector power generation industry sources on September 17, the Ministry of Trade, Industry, and Energy requested to POSCO Energy, SK Gas,...

International oil prices have hit a record high in seven months as they went up over US$50 a barrel. The domestic oil refining sector raised its hopes of improving their profitability in the third quarter after suffering poor results for two consecutive quarters. The spot price for Dubai crude as compiled by the Korea National Oil Corp. was $53.64 a barrel on September 16, up by 7 cents from the previous day. This is the highest level since February this year when the figure was $54.39. ...

Chief executives of the nation's leading companies like Samsung Electronics, SK Hynix, and LG Display have made a request to the government to relieve the problem of labor shortage in the area of semiconductor and display. Kwon Oh-hyun, vice chairman of Samsung Electronics, said on September 18 in a discussion session held in Kensington Hotel in Seoul's Yoido presided over by Minister of Trade, Industry, and Energy Baek Woon-gyu, "Skilled workers are in short supply in fast-growing industries...

MBI, a Korean manufacturer specializing in making transmissions, will build an electric car plant in Hanoi, Vietnam, jointly with local firm N&G Group. The two companies will invest a total of US$1 billion for the next seven years. The companies said on September 21 that the heads of the two companies signed an agreement to establish a joint venture called Viko Motors in South Hanoi next month. Earlier in June this year, MBI was promised by the Vietnamese government and the Hanoi city gov...

The government has decided to give support to North Korea worth US$8 million in programs helping its vulnerable people including children and pregnant women indirectly through international organizations. It, however, has not decided when to start sending money and exactly how. This is interpreted as a choice to deflect criticism that it is undertaking an aid project at a time when North Korea is causing an international storm by launching a series of missile tests. On September 21, the gover...

As Korea and China are set to improve their relationship that was rocked by the controversy over the Terminal High Altitude Area Defense (THAAD) anti-ballistic missile system, Korea's tourism and duty-free shopping industries are raising their hopes of better days.The tourism industry believes that the Chinese government's group tour ban to Korea would be relaxed soon. A travel agency in Hebei posted an Internet ad recently for a group tour program to Korea in November at the price of 1,4...

Beachgoing is not just for the summer. Nothing is romantic than walking on the beach with a loved one. What about the beach in the autumn? Walking on the beach on a cool breeze and sitting in a café with an ocean view may be something you don't want to miss.   If you long for a place where you can see the autumn sea and uninhabited islands, all you need to do is take the Airport Train from Seoul station or Gimpo Airport station. Within one hour, it will take you to Yeongjo...

Dream Global Partners (Dream Chain) announced on Sep 4th that it will launch a highly  reliable real estate blockchain platform for developers and final users. The blockchain  technology minimizes the possibility of malicious frauds or forged documents, because the ledger is store in a decentralized way and not concentrated in the availability of the parties involved. When this technology is applied to real estate transactions, sources of conflicts for pos...

Introduciton On 5 December 2017, the Financial Reporting Council (FRC) published its proposals for a revised UK Corporate Governance Code. The Code is shorter, building on the FRC’s...

Introduction New rules in the Financial Conduct Authority’s (FCA) Conduct of Business Sourcebook (COBS) took effect on 1 July 2018, which will result in changes to the timing and events in the UK equity IPO process. The new rules were publishe...

After nine years pursuing her claim against her employer, Michelle Alabaster walked away with an award of just £204.53.  However, the impact of the decisions of the ECJ, and now the Court of Appeal in the maternity pay case of Ala...

Employers, the leasing industry, professional advisers and many government departments including the DTI, were taken by surprise when withdrawal of the tax relief on computers supplied to employees was announced in the recent Budget. Numerous re...

Following a government call to extend flexible working rights to all workers, including non-parents, employment law experts at Eversheds believe the move could prevent tensions arising between workers with children and those without. Research condu...

In a somewhat timely judgment, bearing in mind the May bank holidays, the Court of Session (the Scottish Court of Appeal) has clarified that it is not necessarily unlawful for an employer to not provide alternative leave days for part-time workers w...

The Government has today announced that from next April, the right to request flexible working will be extended to all parents of children aged up to 16 years. It is estimated that an additional 4.5 million parents will benefit from the right. Sinc...

If you have not yet responded to the Eversheds survey as to the likely impact of the changes to agency worker rights upon your business and would like to do so by 13 June, please click here.   Main body The topics of equal rights for age...

Belarus has announced that the next presidential election will be held on August 9 as the country’s authoritarian President Alyaksandr Lukashenka sought to play down the risks of the coronavirus pandemic.

Georgia summoned its ambassador to Ukraine back to Tbilisi in a sign of its displeasure over Kyiv’s decision to name Mikheil Saakashvili to a government reform body. 

Russia registered more than 10,000 new coronavirus cases for the sixth day in a row -- an indication the spread of the virus inside the country remains serious despite a stringent lockdown-- as the Communist party leader called for the release of non-violent criminals from prison .

The top members of the U.S. House Foreign Affairs Committee say an increase in violence in Afghanistan has raised questions about the Taliban’s commitment to an agreement it signed with the United States in February.

President Vladimir Putin marked Victory Day calling for unity and a dignified honoring of those killed during World War II, even as the coronavirus pandemic curtailed the pomp the Kremlin had planned for Russia’s most important secular holiday. 

A 97-year-old Russian World War II veteran has been inspired by the fund-raising efforts of Captain Tom Moore. She says she can't walk around a garden to gather donations like the 100-year-old British veteran did, but she is posting war stories online every day to raise money for the families of Russian medics who have died fighting COVID-19.

Afghan President Ashraf Ghani has ordered a probe into the drowning of several Afghan migrants last week after reports that Iranian border guards allegedly forced them into a river.

The global death toll from the coronavirus is more than 275,000 with almost 4 million infections confirmed, causing mass disruptions as governments continue to try to slow the spread of the new respiratory illness.

Thousands of people jammed the center of the Belarusian capital to watch soldiers and military units march as part of celebrations marking the defeat of Nazi Germany, celebrations that took place despite serious concerns about the coronavirus.

The Serbian government has protested to the European Union after one of the bloc's educational websites described inventor and electricity trailblazer Nikola Tesla as a "famous Croatian."

By RNZ The cost of mandatory quarantine on both sides of the Tasman means a New Zealander living in Brisbane will not be reunited with his dying mother in Auckland.A close friend of the man - both of whom RNZ has agreed not...

A "mass of surfers" have converged on one of Wellington's most popular surf beaches.A Wellington local, who wanted to be known only as Brendan, said he was in the area for work when he decided to stop and see what was happening...

The Warehouse is advising customers on its website deliveries could take up to two weeks to arrive.It said while it was trying to get through orders as quickly as possible, because of the high number of orders it was struggling...

There are two new cases of Covid-19 today, one confirmed and one probable, the Ministry of Health said in a statement.Both cases are linked to the St Margaret's Hospital & Rest Home in Auckland.The confirmed case is a household...

Covid-19 has tipped some struggling and startup businesses over already - but the real toll will emerge in the coming months. READ MORE:• Receiver says wage subsidy propping up a walking-dead army of 'zombie firms' John...

A stray kitten climbed into the engine of a car in Otara, south Auckland, and ended up hitching a ride all the way to West Harbour, in west Auckland, where it was rescued and adopted by a loving family.It was early on Saturday morning...

SIGN UP TO OUR COVID-19 NEWSLETTER.SIGN IN OR REGISTER, THEN SELECT TOP NEWS STORIES The father of a New Zealand woman living in Los Angeles seeking a quarantine exemption so she could see him again has died.Rachel Henderson...

div class="element-action-button"> SIGN UP TO OUR COVID-19 NEWSLETTER. SIGN IN OR REGISTER, THEN SELECT TOP NEWS STORIES A Ministry of Health review of previously turned down requests to leave compulsory isolation early on compassionate...

Police are warning Kiwis not to flout the law after hordes took to the beach today despite the country still being at alert level 3. The day started with a "mass" of surfers converging on Wellington's Lyall Bay, and as the weather...

More revelations have been uncovered from the Government's coronavirus document dump, while new cases remain low as Cabinet prepares to decide when to move to alert level 2. Get all the important news and read the full stories in...