SEOUL, March 21 (Korea Bizwire) — The finance ministry said Friday it will ease restrictions on duty-free alcohol purchases for local tourists visiting the southern resort island of Jeju. Under the revised regulations, the current two-bottle limit will be removed, while the overall allowance remains at up to 2 liters of duty-free alcoholic beverages, with [...]
SEOUL, March 21 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday called for reforming South Korea’s college entrance system in order to nurture talents capable of leading innovations. Rhee made the point during the opening ceremony of a research institute on population and talent issues at Yonsei University in Seoul. “Leading [...]
Uncover the secrets behind the Xizhou Civilization, cultivate the land, and earn riches untold in the latest Myth of Empires DLC SUZHOU, China, March 20, 2025 (Korea Bizwire) — Today, Angela Game and Imperium Interactive Entertainment released the Xizhou Civilization Pack DLC for the multiplayer war sandbox game Myth of Empires, available on Steam with a limited-time 10% discount. The Xizhou Civilization Pack includes [...]
SINGAPORE, March 20, 2025 (Korea Bizwire) — STAR Systems International, a leader in automatic vehicle identification solutions, is proud to announce the approval of its latest patent for the cutting-edge Invisity security feature, specifically engineered to make sticker transponders more tamper resistant. Invisity’s patented design will cause a transponder’s antenna to break upon removal while [...]
SEOUL, March 21 (Korea Bizwire) — South Korea’s financial watchdog said Friday it will look into whether Homeplus Co. has violated accounting rules as speculation mounts over the retailer’s controversial short-term debt sale. The Financial Supervisory Service (FSS) said it will inspect to verify whether the retailer, wholly owned by private equity firm MBK Partners [...]
SEOUL, March 21 (Korea Bizwire) — As high interest rates and growing fears of jeonse fraud continue to reshape South Korea’s real estate market, the trend of converting traditional jeonse (lump-sum rental deposits) into monthly rental contracts is accelerating — with record-breaking luxury lease agreements becoming increasingly common. According to data released by the Ministry [...]
ULSAN, South Korea, March 21 (Korea Bizwire) — HD Hyundai Mipo announced Thursday it had successfully delivered South Korea’s first hybrid-propulsion roll-on/roll-off (Ro-Ro) vessel, marking a significant milestone in the nation’s shipbuilding industry. The vessel, named Chaumine, combines diesel engines with electric battery power and was delivered to CLdN, a shipping company based in Luxembourg. [...]
SEOUL, March 20 (Korea Bizwire) — Ottogi Corp., a major South Korean food company, said Thursday it will raise the prices of its “ramyeon,” or instant noodle, products next month to reflect higher raw materials costs. Ottogi plans to raise the retail prices of 16 ramyeon products by an average of 7.5 percent starting April [...]
SEOUL, March 20 (Korea Bizwire) — South Korea has formally confirmed its ratification of a U.N. agreement on the sustainable use of marine biological diversity, becoming the first East Asian country to do so, Seoul’s foreign ministry said Thursday. South Korean Ambassador to the U.N. Hwang Joon-kook deposited an instrument of the ratification for the [...]
SEOUL, March 20 (Korea Bizwire) – Jose Munoz, the chief executive officer (CEO) of Hyundai Motor Co., on Thursday highlighted growing trade tensions and protectionism as key challenges for the global automotive industry in 2025, urging strategic adaptability to maintain the company’s growth momentum. Speaking at Hyundai Motor’s annual general shareholders’ meeting in Seoul, Munoz [...]