BUSAN, Dec. 9 (Korea Bizwire) – The 37th annual Haeundae Polar Bear Festival, a hallmark winter sports event in Busan, concluded its three-day run from December 6 to 8, drawing enthusiastic participants and spectators alike. This year’s event marked the return of the highly anticipated 1km Companion Swim, which had been canceled last year due [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea’s tourism and retail industries are on edge following the recent declaration and lifting of martial law, as travel warnings from major countries raise concerns about a potential decline in foreign visitors. While the Korea Tourism Organization reported no significant cancellations as of December 5, signs of apprehension [...]
SEOUL, Dec. 6 (Korea Bizwire) — North Korea will hold a key session of its rubber-stamp parliament next month to discuss a range of issues, including a constitutional amendment, the North’s state media reported Friday. The standing committee of the Supreme People’s Assembly held its 34th plenary meeting the previous day at the Mansudae Assembly [...]
SEOUL, Dec. 6 (Korea Bizwire) – South Korea is witnessing a steady shift toward transparent corporate governance as more conglomerates adopt holding company structures. However, concerns are mounting over indirect investments via overseas subsidiaries, potentially enabling unfair internal transactions and abuse of authority. According to the Fair-Trade Commission (FTC), 43 of the country’s 88 conglomerates [...]
SEOUL, Dec. 6 (Korea Bizwire) — Samsung C&T Corp. said Friday it has partnered with Swedish energy company Karnfull Next AB to pursue joint projects in the European small modular reactor (SMR) market. The South Korean engineering and construction company said it signed a memorandum of understanding for future joint projects with Karnfull Next at [...]
SEOUL, Dec. 6 (Korea Bizwire) – Major gaming companies worldwide are intensifying their competition to secure valuable intellectual property through aggressive mergers, acquisitions, and investments, with Asian technology giants leading the charge. Tencent, China’s largest gaming and technology company, has recently acquired domestic game developer Kuro Games, the studio behind Wuthering Waves, adding to its growing portfolio [...]
WASHINGTON, Dec. 5 (Korea Bizwire) — The South Korea-U.S. alliance “transcends any particular president,” a State Department spokesperson said Thursday, as the National Assembly is moving to vote on an impeachment motion against President Yoon Suk Yeol over his short-lived martial law imposition. Principal deputy spokesperson Vedant Patel made the remarks, voicing expectation that the [...]
SEOUL, Dec. 6 (Korea Bizwire) — Unionized subway workers called off their planned strike Friday after a last-minute deal was reached in wage negotiations with the management. Seoul Metro, the operator of subway Lines 1 to 8 in the capital area, reached an agreement with each of its three labor unions in the early hours [...]
SEOUL, Dec. 6 (Korea Bizwire) — A collaborative carol featuring BTS member V and legendary American pop singer Bing Crosby (1903-1977) is set for release at 2 p.m. Friday, his agency said. Described as an “era-bending” project by the agency, the reimagined version of the timeless holiday classic blends Crosby’s iconic voice with V’s vocals [...]
SEOUL, Dec. 6 (Korea Bizwire) — Jin Air Co. a low-cost carrier subsidiary of industry leader Korean Air Co., said Friday it has acquired a new B737-8 aircraft to bring its total fleet volume to 31 units. Jin Air said the addition marks the company’s fourth new plane acquisition of the year. The company’s fleet [...]