SEOUL, Dec. 9 (Korea Bizwire) — A study said the prices of parts and components for import cars sold in Korea are up to 2.5 times more expensive than those sold overseas. Comparing to the parts and components of domestic cars, the price differential is often as high as seven times. Consumers Korea, in cooperation with the [...]
SEOUL, Dec. 9 (Korea Bizwire) — Hansol Development, the company running the Oak Valley resort in Gangwon Province, is trying to attract 400 billion won investment from a Chinese investor. The company said on December 8 that it is presently negotiating with China’s Xingyue Group to sell part of its 14.21 million square meter site near the [...]
SEOUL, Dec. 8 (Korea Bizwire) — A court ruled that a decision by a high school to fire an English teacher for incompetence was justified. The teacher had been a target of criticism by students for his abject classroom performance and even got 415 points in the TOEIC (Test of English for International Communication) test. A TOEIC [...]
SEOUL, Dec. 8 (Korea Bizwire) — Dongwha Pharmaceutical, one of the largest drug companies in Korea, was indicted for paying rebates by the billions of won to doctors in exchange for agreeing to give prescriptions with its own drugs. This is the biggest illegal rebate incident since December 2008 when a law making it illegal to pay [...]
SEOUL, Dec. 8 (Korea Bizwire) — It is reported that the government is considering the introduction of a “compound” salary scheme for state-run enterprise employees. It intends to apply a different salary scheme depending on the years of service for each employee. For example, it will grant the usual seniority wage scheme to those newly hired employees, [...]
SEOUL, Dec.6 (Korea Bizwire) – A high-ranking official of the Korea Institute for Curriculum and Evaluation attributed the rising number of test takers who opted for the Vietnamese language as their choice for the second foreign language subject in the College Scholastic Ability Test to the “rising number of students from multiracial families and the increasing international [...]
SEOUL, Dec.5 (Korea Bizwire) – The youngest one in the latest announcement on December 4 by Samsung Group for executive-level promotions turned out to be a 33-year-old computer scientist and Inventor named Pranav Mistry. Currently head of research at Samsung’s Silicon Valley R&D center, he is well known for his expertise in user experience in wearable devices. [...]
SEOUL, Dec.5 (Korea Bizwire) – The harmless-looking wireless access point has been the main target of the latest security attack. According to industry sources on December 4, the DDoS (distributed denial-of-service) attack occurred to SK Broadband services on November 29 was a new type of security breach targeting the access point. At the time, the Internet service of [...]
SEOUL, Dec.4 (Korea Bizwire) – A survey revealed that Korea’s tech ventures tend to consider initial public offering positively while exhibiting negative attitudes toward mergers and acquisitions. According to a questionnaire held by the Korea Chamber of Commerce and Industry on 302 entrepreneurial firms and 50 venture capital firms, 62.9 percent of respondents said they would be [...]
SEOUL, Dec.4 (Korea Bizwire) – The Korea Intellectual Property Office held on December 3 a conference to predict promising technologies for the future based on the analysis on patent big data. In the conference at GS Tower in Seoul’s Gangnam, as many as 400 officials from industry, academia, and research institutes participated. The 60 promising technologies gathered from [...]