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Carmakers Balk at Moon’s Pledges Against Diesel Cars

Carmakers Balk at Moon’s Pledges Against Diesel Cars

SEOUL, May 16 (Korea Bizwire) – Carmakers on Monday balked at President Moon Jae-in’s pledges against diesel-powered vehicles, citing no alternatives to the fuel-efficient cars particularly for businesses. During the campaign, President Moon vowed to fully remove diesel-fueled vehicles from the street by 2030 to help sharply reduce air pollutants. He said his government will reduce fine dust [...]

Card Firms’ Q1 Net Soars 60 % on One-Off Gains

Card Firms’ Q1 Net Soars 60 % on One-Off Gains

SEOUL, May 16 (Korea Bizwire) – The first-quarter earnings of credit card companies in South Korea jumped 59.9 percent from a year earlier due mainly to one-off factors, the country’s financial regulator said Monday. The combined net profit of eight credit card firms, including Shinhan Card Co. and Lotte Card Co., came to 803.7 billion won (US$718.5 million) in the January-March period, compared to 502.5 billion won the previous year, [...]

Public Cheers as Incoming President Cracks Down on Telecom Charges

Public Cheers as Incoming President Cracks Down on Telecom Charges

SEOUL, May 12 (Korea Bizwire) – As Moon Jae-in was sworn into office as the 19th president of South Korea earlier this week, a pledge made during his campaign to scrap what is widely known as minimum phone bill charges has come back into the spotlight, a policy many voters viewed favorably amid a record high [...]

President Orders Scrapping of State-Authored History Textbooks

SEOUL, May 12 (Korea Bizwire) – President Moon Jae-in on Friday ordered the scrapping of controversial history textbooks authored by a government committee set up under the former conservative administration. “As efforts to normalize history education, the president has ordered the abolition of state authored history textbooks,” Moon’s chief press secretary Yoon Young-chan told a [...]

Seoul to Team Up With Coffeehouse Chains for Recycling Effort

Seoul to Team Up With Coffeehouse Chains for Recycling Effort

SEOUL, May 12 (Korea Bizwire) – The Seoul Metropolitan Government is teaming up with major coffeehouse chains in South Korea for a new recycling project that will see a weekly dose of coffee grounds reused as fertilizer and disposable cups collected for recycling, as part of a new environmental initiative set to kick off next month. [...]

South Korean Shipbuilding Companies Make Foray Into Norwegian Market

South Korean Shipbuilding Companies Make Foray Into Norwegian Market

SEOUL, May 12 (Korea BIzwire) – South Korean shipbuilding companies including Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are branching out into the Norwegian market, with the trio expected to attend this year’s Nor-Shipping, one of the biggest international shipping exhibitions in the world, which will be held in Oslo [...]

Seoul’s Soon-To-Open Sky Garden Seoullo 7017 to Light Up at Night

Seoul’s Soon-To-Open Sky Garden Seoullo 7017 to Light Up at Night

SEOUL, May 12 (Korea Bizwire) – Seoullo 7017, Seoul’s much-anticipated urban renewal project that is set to open next Saturday, will feature blue LED lamps and flower pots, transforming a decommissioned overpass into what Seoul Mayor Park Won-soon describes as a place where “nature and humans can coexist”. Every night the overpass-turned-walkway in front of Seoul [...]