SEOUL, Oct. 29 (Korea Bizwire) – From now on, apartment management firms will be able to build community facilities such as a rec center, a conference room or a library underneath the pilotis. The Ministry of Land, Infrastructure and Transport said on October 28 that a proposed enforcement ordinance of the housing construction law has passed the [...]
SEOUL, Oct. 29 (Korea Bizwire) – Korea’s economic actors, including households, firms, and governments, have all exceeded the critical point of debt burden as set by the World Economic Forum. According to Congressman Lee Hahn-koo (New Frontier Party), the ratios of debt to the gross domestic products as of the end of 2013 for households, firms, and [...]
SEOUL, Oct. 29 (Korea Bizwire) – Up until now, housewives who quit their jobs after marriage before fulfilling the 10-year minimum payment length were not eligible for collecting pension after 60 years of age even if they paid pension premiums voluntarily after marriage. The government will change the rule in ways to allow them to collect the [...]
SEOUL, Oct. 28 (Korea Bizwire) – The Small and Medium Business Administration and the Korea Venture Business Association announced on October 27 that out of 130 Korean companies ranked No. 1 in the world in terms of market share 48.5 percent (63 firms) were start-up ventures as of the end of 2013. According to the data, the [...]
SEOUL, Oct. 28 (Korea Bizwire) – Ahead of the implementation of the Shanghai-Hong Kong Stock Connect, or “Hu-Gang Tong,” the volume of direct investment in stock markets in the Greater China Region by Korean nationals is rising rapidly. Accordingly, most of the Korean investment in overseas stock markets has focused on the Hong Kong stock market. Hu-Gang [...]
SEOUL, Oct. 28 (Korea Bizwire) – The Seoul Waterworks Research Institute has succeeded in developing a new technology to prevent stainless steel corrosion after four years of research efforts. It has already applied for a patent for the technology and will soon begin a research project for commercialization jointly with POSCO. Using a nitric and hydrofluoric acid-based [...]
SEOUL, Oct. 26 (Korea Bizwire) – More and more Korean shoppers are turning away from domestic retailers that charge rip-off prices for some items and instead are flocking to foreign online websites for bargains. For example, a housewife in her late 20s said she likes to shop on Japanese and American retail sites even though she is [...]
SEOUL, Oct. 26 (Korea Bizwire) – As the Korea Meteorological Administration forecast that the peak of this year’s fall foliage would be early November in Seoul’s downtown area, with Mt. Bukhan in the north of the city turning fully red and yellow about a week earlier, the Seoul city government published on October 23 “Seoul’s Best 94 [...]
SEOUL, Oct. 25 (Korea Bizwire) – As KT loses in a Supreme Court case in protest of a lower court decision that endorsed 2012 sanctions by the Ministry of Defense against the telecom firm, it won’t be able to take part in government-commissioned biddings for the next six months. The Supreme Court justices said on October 24, “It is clear that [...]
SEOUL, Oct. 24 (Korea Bizwire) – In a meeting held late last month in Geneva, Switzerland, to discuss issues related to vehicle regulation harmonization within the framework of the World Forum for Harmonization of Vehicle Regulations (WP 29), the member nations agreed to negotiate the revision of rules on the car’s panorama sunroofs. At the meeting, representatives [...]