The Fair Trade Commission’s (FTC) increasingly aggressive crackdown on major conglomerates is generating a costly cycle with little tangible return, as the watchdog has been forced to refund billions of won in fines overturned by courts. The watchdog has returned nearly 290 billion won ($216.7 million) to companies since 2022 after administrative court rulings overturned its sanctions. The figures raise questions about whether the regulator’s tougher enforcement produces lasting results or simply creates more legal and financial burdens for both businesses and taxpayers. The latest figures offer little reassurance. For the first nine months combined this year, the FTC returned 23 billion won in fines and associated payments, with 99.7 percent of the amount attributable to sanctions overturned in whole or in part through administrative litigation, according to data submitted to Rep. Choi Eun-seok of the main opposition People Power Party. But the regulator is moving in the opposite direction. Since President Lee Jae Myung took office last year, the government has pushed to strengthen
Read full articleChinese Premier Li Qiang has called for deeper cooperation with Uzbekistan in areas such as minerals and artificial intelligence as the Beijing vies with Washington for influence in Central Asia. Li told President Shavkat Mirziyoyev on Saturday that Beijing was ready to strengthen strategic communication and expand mutually beneficial cooperation with Uzbekistan. He urged the two countries to step up cooperation in energy, minerals, finance and connectivity, and deepen collaboration in fields...
Drones have a bird’s-eye view of the city. The prospect of police departments integrating drones into their workflow raises questions about privacy and police accountability.
Hong Kong’s leader has urged residents to cherish peace and stability as senior officials marked Chung Yeung Festival with tributes to the city’s wartime defenders and public servants who died in the line of duty. Chief Executive John Lee Ka-chiu attended the annual ceremony at the Hong Kong City Hall Memorial Garden in Central on Sunday, laying a wreath to honour those who died defending the city between 1941 and 1945. “As we remember the heroes who sacrificed their lives in war and our...
Former investment banker Shervin Sharghy takes a practical approach to plastic recycling, first asking whether it makes financial sense before tackling the technical challenges. The founder of Hong Kong-based EcoBricks said the main obstacle to recycling plastic was often economic rather than scientific. Collecting, sorting, cleaning and processing waste plastic typically costs more than producing new materials from oil and gas, particularly at the small scale at which most recyclers...
UIWANG, South Korea — Seeking to remain competitive against fast-growing Chinese automakers and find new sources of growth amid a sharp retreat in its share price, Hyundai Motor Group is stepping up its push into robotics and physical artificial intelligence (AI). The move comes as the world's third-largest automotive group faces growing pressure to improve profitability in its conventional carmaking business amid intensifying competition in the global electric vehicle (EV) market, particularly from lower-priced Chinese models. Investors are also questioning when the group's heavy investments in robotics will start to pay off. Hyundai Motor Co.'s shares more than doubled after its U.S. subsidiary Boston Dynamics unveiled its Atlas humanoid robot at the Consumer Electronics Show (CES) in January, reaching a record closing high of 755,000 won ($565.2) in June. But the stock has since fallen sharply to near pre-CES levels, closing at 312,000 won Friday, as enthusiasm over robotics has faded amid weak earnings and growing concerns about how soon the technology can turn profitable. Speculati
As China marks the 90th anniversary of the Red Army’s victory in the Long March, some young Chinese are looking to the historic journey for guidance as they face uncertainty in their lives and future. For Lyu Leiyiyi, a 22-year-old student at the Communication University of China, the spirit of the Long March offers a sense of stability at a time when people and the environment around her are changing at a dizzying pace. “People in their 20s are going through a period of uncertainty,” Lyu said....
The organiser of a forum that will bring together Hong Kong and overseas universities later this month has said it hopes to spark debate on the role of humanities programmes in an era increasingly dominated by artificial intelligence (AI). The Global University Presidents and Leaders Summit, organised by the Hong Kong Association for External Friendship, will be held on October 27 and 28 at the Convention and Exhibition Centre in Wan Chai. Presidents or senior management from more than 50...
I recently spent several days in a hospital. If immigrants are sent home, they would not function.
Mitchell Kerfoot torched the victim’s house during a fit of rage fuelled by “intense wounded emotion, grievance and immaturity”, a judge has said.
Two young men, aged 19 and 22, were rushed to hospital, where they remain under police guard after being found with possible gunshot wounds in Dallas.
A South African mining giant is seeking to rally investors across Australia to pressure a major local rival into takeover talks.
Hong Kong social worker Mark Cheung Kai-yuen is working to make dental care more accessible for cancer survivors, people with disabilities and children with special needs who often struggle to find suitable clinics. Through Smile Again, the social enterprise he co-founded with dentist Dr Ho Kwun-yin, Cheung has adapted both the facility and the way care is delivered, with wheelchair-friendly facilities, longer consultations and tailored communication approaches. Cheung is a finalist for the...