BUSAN, Oct. 2 (Korea Bizwire) — Busan, South Korea’s second-largest city, is set to transform into a city of festivals in October, with as many as 17 separate festive events taking place in the first eight days of the month, the city government said Wednesday. The Busan metropolitan government said the Festival Shiwol (October), envisioned [...]
YANGYANG, Oct. 2 (Korea Bizwire) – Wild pine mushrooms from Yangyang, South Korea, known as “Yangyang songi,” have shattered price records, selling for an unprecedented 1.6 million won per kilogram. The Yangyang Sokcho Forestry Cooperative reported on October 1 that during the previous day’s auction, top-grade Yangyang songi mushrooms reached this new pinnacle. The auction prices [...]
SEOUL, Oct. 2 (Korea Bizwire) – The South Korean Fair Trade Commission (FTC) has initiated regulatory action against AliExpress, the popular Chinese online shopping platform, over allegations of false advertising. On September 30, the FTC sent a report detailing potential sanctions to an AliExpress affiliate responsible for product sales. The commission determined that the company’s advertisements, [...]
SEOUL, Oct. 2 (Korea Bizwire) – One in five unemployed South Koreans has been out of work for more than six months, according to recent government data, marking the highest level of long-term unemployment since the aftermath of the 1997-98 Asian financial crisis. Statistics Korea reported that as of August, the number of long-term unemployed individuals [...]
WONJU, Oct. 2 (Korea Bizwire) – The Wonju Hanji Culture Festival, celebrating the traditional Korean paper known as hanji, attracted 430,000 visitors both online and in person, organizers said on October 1. The event’s success is seen as a significant step toward securing UNESCO World Heritage status for the centuries-old craft. The four-day festival, which ran [...]
KUALA LUMPUR, Malaysia, Oct. 1, 2024 (Korea Bizwire) — VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or the “Company”) today announced a new investment commitment of US$30 million from Alumni Capital LP (“Alumni Capital”). Following an earlier investment of US$5 million from Alumni Capital, this additional US$30 million, in exchange for VCI Global [...]
NEW YORK and KUALA LUMPUR, Malaysia, Oct. 1 (Korea Bizwire) — Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading technology solutions provider, is pleased to announce that it has completed its previously disclosed at-the-market equity offering program (“ATM Offering”) launched on March 22, 2024, and the termination of the same with [...]
SEOUL, Oct. 1 (Korea Bizwire) – A recent study by the Bank of Korea suggests that an influx of foreign workers leads to increased employment opportunities for South Korean nationals in the long run, challenging some common perceptions about immigrant labor. The report, titled “The Impact of Foreign Worker Inflow on Regional Labor Markets,” was presented [...]
SEOUL, Oct. 1 (Korea Bizwire) – Jesse Lingard, the former England international now playing for FC Seoul, has expressed deep concern over the state of soccer pitches in South Korea, calling the situation “serious” following a recent K League 1 match. Lingard, who spent much of his career on the manicured fields of the English Premier [...]
SEOUL, Oct. 1 (Korea Bizwire) – As the fever for medical school admissions intensifies in South Korea, lawmakers and education activists are pushing for legislation to regulate so-called “elementary med school” classes, where young children are taught advanced mathematics concepts typically reserved for high school or even university curricula. On September 30, Representative Kang Kyung-sook of [...]