SEOUL, Dec. 19 (Korea Bizwire) – A study said the average annual compensation for employees in small enterprises whose sales revenue is less than 100 billion won was 37.59 million won (US$34,200) while the comparable figure for large corporations with sales of more than 1 trillion won was $61.21 million won ($55,700). That means small company workers [...]
MUAN , Dec. 19 (Korea Bizwire) – The Korea Forest Resources Research Institute of South Jeolla Province said on December 18 that it has succeeded in artificial cultivation of truffle, one of the highly prized haute cuisine items. Truffles usually grow in oak forests and have yet to be found in Korea in natural state. It is one of [...]
“We will try to make Korea one of the major macadamia consuming countries. Already as much as 88 percent of macadamias consumed in Korea is from Australia. With the new tariff in place, the AMS expected the Korean market to grow over the next decade with the potential to reach a similar consumption per head [...]
SEOUL, Dec. 18 (Korea Bizwire) – The total exposure of Korean financial institutions to Russia is estimated at US$1.36 billion. According to the Financial Supervisory Service on December 17, the exposure as of the end of September this year including loans and credit facilities provided to Russia by the nation’s 11 banks including Korea EximBank, Korea Development Bank, [...]
SEOUL, Dec. 18 (Korea Bizwire) – The Korea Tourism Organization said on December 17 that it has introduced a “Muslim friendly restaurant rating scheme” on an experimental basis and published an accompanying guild book in English. In the book, a total of 118 restaurants located across the country, as well as 36 Korean menus, is listed according [...]
SEOUL, Dec. 17 (Korea Bizwire) – Lotte Engineering & Construction has successfully developed a technology to make concrete that effectively blocks radiation. Separately it has also developed a new construction technique to strengthen the bearing capacity of bored precast piles. The company said on December 16 that it filed a patent on the 4th to make concrete [...]
SEOUL, Dec. 17 (Korea Bizwire) – Survey results revealed that seven out of ten large corporations with more than 300 employees would try to reform their salary schemes if the government pushes for mandating the retirement age to 60. According to a survey conducted by Research & Research commissioned by the Federation of Korean Industries, the average [...]
SEOUL, Dec. 17 (Korea Bizwire) – The average amount of time Koreans spend staring at their smartphones a day is estimated at more than 3 hours. According to a research report “Five Years after Introduction of Smartphone, the Change in Mobile Life” published by the KT Economics & Management Research Lab on December 16 based on data [...]
SEOUL, December 16 (Korea Bizwire) – The Busan Metropolitan Police Agency found the perpetrators of a potentially unsolvable hit-and-run accident by promoting the case on its Facebook page. After reaching the 3 million hits, one of the offenders turned himself in leading to the arrest of the other criminal. The person who was killed in the accident [...]
“In a difficult situation like now, we can trust no one but ourselves.Let’s not rest on our laurels or not shrink from the unfavorable market conditions. Let’s just soldier on to achieve bigger goals.” “Eight million units of sales performance is just a beginning. We should believe in ourselves and work harder to attain [...]