SEOUL, Sep. 3 (Korea Bizwire) – Woongjin ThinkBig is betting big on a new “book club” business. The company increased its capital by 35 billion won on August 29 in order to use the fund to invest in the book club service introduced just last month. Given it had streamlined a number of new businesses of late, this [...]
SEOUL, Sep. 3 (Korea Bizwire) – Samsung Electronics is reviewing an idea of merging Samsung Medison, an unlisted medical equipment maker. In a regulatory filing on September 2, Samsung Electronics said, “We are currently considering whether to pushing forward with a merger with Samsung Medison. We will disclose later as soon as detailed decisions are made.” The electronic [...]
SEOUL, Sep. 2 (Korea Bizwire) – Two Samsung Group companies Samsung Heavy Industries and Samsung Engineering have decided to merge with each other in a board of directors meeting on September 1. The two companies will exchange shares at the ratio of 1 to 2.36. Samsung Heavy Industries will grant 2.36 shares to Samsung Engineering shareholders for every share [...]
SEOUL, Sep. 2 (Korea Bizwire) – The keyword of Samsung in the upcoming IFA Berlin will be “COVART.” A compound word for collaboration, virtual reality, and art, the main theme will be used throughout the company’s promotional effort in the trade show to be held between September 5 and 10. The art gallery to display Samsung’s drum [...]
SEOUL, Sept. 2 (Korea Bizwire) – APRO Service Group, better known as its service brand “Rush & Cash,” and Japan’s J Trust will compete over Aju Capital. According to financial investment sources on August 29, the two bidders have participated in acquiring the finance company. Aju Corporation, the largest shareholder of Aju Capital, has put a 74.16-percent [...]
SEOUL, Sept. 2 (Korea Bizwire) – Thanks to the fast-rising Chinese tourists in Korea, the credit card spending by foreigners in the second quarter has hit a record-high level. According to the Bank of Korea on August 29, the total amount of credit card spending made by foreign visitors to Korea was US$2.91 billion during the April-June period, [...]
SEOUL, Sept. 1 (Korea Bizwire) – The government will revise the rules on the immigration law related to real estate investment, as the law to allow foreign investors to get permanent residence permits has caused real estate speculation in Jeju Island. According to the 2010 law, any foreign investor spending more than 500 million won (US$493,000) in [...]
SEOUL, Aug. 29 (Korea Bizwire) — A diplomat representing the Korean government has been officially dispatched to Palestine. According to the Ministry of Foreign Affairs on August 28, Park Woong-cheol, the newly appointed representative to the State of Palestine, began working around the clock at the office in Ramallah, the de facto administrative capital, from the 25th [...]
SEOUL, Aug. 29 (Korea Bizwire) — From now on, book publishers will need explicit permissions from the authors for all creative works including children’s storybooks when they use the contents for secondary purposes. The Fair Trade Commission said on August 28 that it has ordered Korea’s top-20 publishing houses to improve their terms and conditions with authors including [...]
SEOUL, Aug. 29 (Korea Bizwire) — The Severance Hospital of the Yonsei University Health System said on August 28 that it has developed a mobile app to manage patients with trachoma jointly with KT. The “Trachoma App” can allow medical field workers to check the conditions of the eye disease with simple instructions. This is expected to come [...]