SEOUL, Nov. 11 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has secured a 713.5 billion-won (US$511.6 million) deal to build two liquefied natural gas carriers, contributing to the company’s strong cumulative order value, the largest among South Korean shipbuilders this year. The 174,000-ton vessels will be built at Hanwha [...]
SEOUL, Nov. 11 (Korea Bizwire) – Diabetes, once primarily associated with older adults, is increasingly affecting younger South Koreans, with an estimated 308,000 people in their 20s and 30s living with the condition, according to new data. The Korean Diabetes Association, ahead of World Diabetes Day on November 14, released its “Diabetes Fact Sheet 2024″ revealing [...]
SEOUL, Nov. 11 (Korea Bizwire) – The Ministry of Land, Infrastructure and Transport has launched a comprehensive investigation into corporate vehicle registrations this year, following reports of companies attempting to circumvent new regulations requiring green license plates on corporate vehicles worth over 80 million won. The distinctive green plates, introduced early this year, are reportedly being [...]
SEOUL, Nov. 11 (Korea Bizwire) – A month after Netflix’s global culinary competition sensation “Culinary Class Wars” aired its finale, the show faces mounting controversies as allegations of financial misconduct, illegal business operations, and personal scandals have emerged around several contestants. Lee Young-sook, 69, celebrated on the show as a “master of Korean cuisine,” faces legal [...]
SEOUL, Nov. 11 (Korea Bizwire) – South Korea’s data protection watchdog has imposed new penalties on Meta, Facebook’s parent company, for collecting sensitive personal information from Korean users, including their political views, for advertising purposes. The latest fine brings total penalties against Meta in South Korea to approximately 60 billion won. The Personal Information Protection Commission [...]
SEOUL, Nov. 8 (Korea Bizwire) – In a significant demographic shift, 1 in 10 marriages in South Korea last year was multicultural, while children born to multicultural families accounted for 5.3% of all births, according to statistics released on November 7 by Statistics Korea. The annual report on multicultural population dynamics revealed that multicultural marriages increased [...]
SEOUL, Nov. 8 (Korea Bizwire) – Kia announced on November 7 that it will launch a heritage exhibition titled “From Moments to Movement,” celebrating the company’s 80-year history. The exhibition will be held at Kia360, the company’s brand experience space in Gangnam District, Seoul, until November next year. The showcase, which is Kia’s second heritage exhibition [...]
SEOUL, Nov. 8 (Korea Bizwire) – According to a new study released on November 7 by the Korea CXO Research Institute, employees at Korea’s top 100 companies face steep odds in reaching executive positions, with chances falling below 1%. The study, which examined promotion possibilities at the country’s 100 largest listed companies by revenue, revealed that [...]
SEOUL, Nov. 8 (Korea Bizwire) – In a significant move that cements his position among South Korea’s most successful entrepreneurs, Bom Kim, the founder and executive chairman of Coupang, has announced plans for a major stock sale, fourteen years after founding the company and three years after its landmark NYSE debut. Kim, who moved to the [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korea kicked off its largest-ever annual shopping event Friday amid efforts to boost private spending and promote tourism. The Korea Sale Festa, South Korea’s equivalent of Black Friday, will be held both online and in stores nationwide through Nov. 30, with around 2,600 companies participating, according to the [...]