SEOUL, Sep. 18 (Korea Bizwire) – Hyundai Motor Group has won one of the most high-profile real estate auctions in South Korea’s history. Korea Electric Power Corp said today the winner for the site of KEPCO’s headquarters, which is estimated to be worth over 3.33 trillion won (US$3.22 billion), is Hyundai Motor Group, which, according to local reports and sources, [...]
SEOUL, Sep. 17 (Korea Bizwire) – Hyosung Group has won an international certification on its 5-megawatt offshore wind power system. The group said on September 16 that it secured the B-type certification on the 5-magawatt wind power generation system that it has developed and run experimentally from Germany’s DEWI Offshore and Certification Centre GmbH, a certification organization. Earlier [...]
SEOUL, Sep. 17 (Korea Bizwire) – Korea’s construction contractors are moving in Africa in droves. Following the groundbreaking ceremony to build a US$160-million bridge linking Botswana with Zambia won by Daewoo Engineering & Construction, POSCO Engineering & Construction landed a deal to build a gas-fired thermal power plant in Nigeria worth $1.14 billion. POSCO E&C said on September [...]
SEOUL, Sep. 17 (Korea Bizwire) – Social networking services that have remained as a means of communication are creating whole new business categories. The best-known example is Uber Taxi that can connect those who need to hire a taxi and cars idling in the parking lot. There is an innovative business model in Korea that takes advantage [...]
SEOUL, Sep. 16 (Korea Bizwire) – Samsung Electronics will hold a two-day open-source conference between September 16 and 17 to allow developers to share ideas on the new industry trend at the Grand InterContinental in Seoul’s Gangnam. The Samsung Open Source Conference, or SOSCON, will cover a variety of topics from the Internet of things, big data, and [...]
SEOUL, Sep. 16 (Korea Bizwire) – KT chairman Hwang Chang-gyu mentioned its digital music service “Genie” in an email message sent to all employees on September 1 as a success case of paying attention to improving customer service. Indeed, Genie has been growing at the fastest clip recently among all digital music services in Korea. According to [...]
SEOUL, Sep. 16 (Korea Bizwire) – The government will give a tax break to those long-running corporations deemed to have fulfilled their social responsibilities, especially in inheritance taxes when the firms’ owners succeed the business to their children. The Ministry of Strategy & Finance will increase the inheritance tax deduction limit to 100 billion won from the current [...]
SEOUL, Sep. 15 (Korea Bizwire) – Commercial banks are offering increasingly lower loan rates to take corporate customers away from rivals, resulting in the state of “negative spread.” According to a survey, as much as 44 percent of large-scale corporate loans has been provided with negative spread, with the volume estimated to have reached 180 billion [...]
SEOUL, Sep. 15 (Korea Bizwire) – The first trial in a 53.7-billion-won lawsuit raised by the National Health Insurance Corporation against major tobacco companies was held in the afternoon of September 12 at the Seoul Central District Court. The defendants in the court were KT&G, Philip Morris Korea and BAT Korea. Chung Mi-hwa, the lead attorney [...]
![[Quote] Pangyo to Become Korea’s Silicon Valley…Finance Minister](http://koreabizwire.com/wp/wp-content/uploads/2014/09/12096477143_1e1b6cbb1a_z.jpg "[Quote] Pangyo to Become Korea’s Silicon Valley…Finance Minister")
“South Korean government will nurture Pangyo as a Silicon Valley of Korea, will create a space for industry, academy, and research communities to interact with each other in Pangyo Techno Valley, while forming a fund for dedicated R&D projects.” “We have to create a new success formula in response and that can be found in creative economy. [...]