THE HOT STORY

Korean AI talent is being driven overseas

Korea faces a talent drain in artificial intelligence skills due to lower wages compared to the United States. A report from the Bank of Korea (BOK) reveals that AI specialists in Korea earned 6% more than their non-AI counterparts last year, but this AI wage premium is far behind the 25% figure in the US. “Korean AI talent working overseas accounted for about 16% in 2024, six percentage points higher than other workers,” said Oh Sam-il, an economist at the BOK. “The number of Koreans with AI skills working in the United States rose to 6,300 last year as a large number of jobs and strong treatment in the US AI industry pulled domestic talent overseas,” he added.

Korea Joongang Daily

WORKFORCE

Trump launches $1m 'gold card' immigration visas

President Donald Trump's administration has launched the "Trump Gold Card" visa programme offering fast-tracked US visas to wealthy foreigners. The card will give buyers a "direct path to Citizenship for all qualified and vetted people . . . Our Great American Companies can finally keep their invaluable Talent," Trump wrote on social media on Wednesday. The gold card programme, which was first announced earlier this year, promises US residency in "record time" and will require a $1m fee which is "evidence that the individual will substantially benefit the United States", the programme's website said.

Reuters

BBC News

REMUNERATION

JPMorgan to award $1,000 to eligible staff earning under $80,000

JPMorgan Chase will offer a special award of up to $1,000 to employees globally who earn less than $80,000 annually, according to an internal memo. Eligible staff must have completed at least one year of service by December 31, 2025. The payments are scheduled for early 2026. US employees will receive the amount as a 401(k) contribution, while those outside the US will receive cash. The New York-headquartered bank has some 318,000 employees globally.

Barron's

Reuters

HEALTH & SAFETY

Safety concerns raised over India's night-duty rule exemption for pilots

India's decision to exempt IndiGo Airlines from enforcing stricter night-duty rules for pilots has sparked safety warnings from the International Federation of Air Line Pilots' Associations (IFALPA), which argues that fatigue negatively impacts flight safety. The exemption follows significant flight cancellations attributed to poor planning, leading to an immediate call for a reversal of the rule change due to the lack of scientific backing. Critics suggest that the move may worsen staffing issues in the long run, as current working conditions play a significant role in pilots' decisions to leave airlines.

Reuters

Property developers crack down on smoking

Developers in Hong Kong are implementing strict smoking bans at construction sites following the recent deadly fire that killed 159 people. The Real Estate Developers Association (REDA) is gathering feedback from members, including prominent firms like Sino Land and Swire Properties. Henderson Land Development has already mandated a no-smoking policy, saying that workers caught smoking will be dismissed. A viral video showed a briefing where workers were warned they would be blacklisted for smoking. The Construction Industry Council supports the measures.

South China Morning Post

LEGAL

H&M faces A$35m bill in Australia

H&M is under investigation by the Fair Work Ombudsman in Australia and has begun reimbursing some workers amid financial challenges and legal uncertainty. Initially welcomed in 2014 with strong consumer interest and rapid expansion, the company now operates only 34 stores after reporting A$340m in sales for the year ending November 2024, down from A$354.55m. The company has set aside A$34.9m to address potential underpayments for about 1,500 employees.

The Australian

TRAINING & DEVELOPMENT

SoftBank's Arm to establish chip design school in South Korea

SoftBank's chip division, Arm Holdings, has signed a memorandum of understanding with South Korea’s industry ministry to set up a chip design school aimed at training approximately 1,400 specialists in the sector. This initiative is part of efforts to strengthen South Korea's semiconductor and AI industries, amidst increasing demand for chips driven by advancements in artificial intelligence. SoftBank chief executive Masayoshi Son highlighted the importance of the developments, saying that AI could surpass human intelligence and that it is time to reconsider how society interacts with this technology.

Reuters

RISK

Insurers warn on AI voice cloning's growing liability risks

Insurers and risk professionals warn that businesses remain underprepared for the legal and operational risks associated with artificial intelligence-powered voice cloning technology. “The main concern is that this is a new, emerging risk,” observed Erlisa King, director of product liability at Tokio Marine HCC. “What we’re finding is that our insureds aren’t necessarily prepared, so they may not have the quality controls in place to mitigate this exposure.”

Insurance Business

INTERNATIONAL

UAE's Gen Z quits first jobs fast

Gen Z employees across the UAE are leaving their first jobs after an average of 1.1 years, driven by ambition and the desire for growth. A Randstad survey of 11,250 workers in 15 countries highlights the trend, with young professionals increasingly prioritising meaningful work and skills over long-term tenure. Speaking to Khaleej Times, 24-year-old Yousef Haddad said work-life balance is also a consideration, explaining: “If a job expects me to be online all the time, it quickly becomes exhausting. Company culture also plays a big role - if the environment feels toxic or people aren't supportive, it's hard to stay motivated. I'd stay longer somewhere that challenges me, appreciates my contributions, and where I feel part of a team that genuinely cares about each other and the work we do.”

Khaleej Times Online

Petrobras workers to strike over labour disputes

Workers at Brazil's state-owned oil company, Petrobras, have announced a strike set to begin on Monday, following what they called an "insufficient" second counteroffer for a new labour agreement. The strike arises amidst ongoing negotiations concerning a retirement fund deficit and changes to employee compensation. Petrobras plans to implement contingency measures to maintain operations during the strike, emphasising that discussions are still ongoing.

Reuters

OTHER

Thailand lifts 53-year-old ban on afternoon alcohol retail sale

Thailand has lifted a 53-year-old ban on the afternoon retail sale of alcoholic drinks, effective on a trial basis for 180 days, aimed at boosting tourism and business. The ban, in place from 2 p.m. to 5 p.m., was enacted in 1972 during military rule and will now allow sales from 11 a.m. to midnight, with drinking permitted until 1 a.m. at nightlife venues.

Associated Press

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