Seoul, July 8 (Korea Bizwire) — Kolon FnC has announced that they will be running a industry-academic cooperation program with the Fashion Institute of Technology (FIT), which is one of the most prestigious fashion institutes in the world. The project will be named “2015 FIT Summer Program”, and will be the first industry-academic cooperation attempt in [...]
SEOUL, July 8 (Korea Bizwire) – With Korean ginseng being classified as food by the Codex Alimentarius Commission (CODEX), a UN body that sets global guidelines for food products, it is expected that exports of the product will increase. The Ministry of Agriculture, Food and Rural Affairs announced on July 7 that the 38th CODEX general [...]
SEOUL, July 8 (Korea Bizwire) – The “customary” offering of travel expenses for spouses accompanying participating in the overseas travel of local government heads is finally diminishing. According to Wirye Citizens’ Solidarity, an NGO monitoring the budget spending of local governments, only Jeju Special Self-governing Province and its provincial council are currently covering travel expenses [...]
SEOUL, July 8 (Korea Bizwire) – Street brand clothes at department stores are growing rapidly, powered by the popularity of SPA fashion, surpassing the growth rates of other brands. According to Lotte Department Store on July 7, sales of street brands like “Style Nanda,” “Naning9,” “Naingirl” and “Wonderplace” have grown more than 27 percent annually [...]
SEOUL, July 8 (Korea Bizwire) — The number of cars subject to safety-related recalls in South Korea jumped over 25 percent in the first half of 2015 as automakers tended to voluntarily recall vehicles suspected of possible defects, data showed Wednesday. Local and foreign automakers recalled 425,212 cars during the January-June period for safety-related defects, [...]
SEOUL, July 8 (Korea Bizwire) – Nearly 4 in 5 people in South Korea own a smartphone, making it the country with the fourth-highest smartphone penetration rate in the world, industry data showed Wednesday. Asia’s fourth-largest economy saw its smartphone penetration rate reach 83 percent as of end-March, according to the data compiled by Digieco, [...]
SEOUL, July 8 (Korea Bizwire) — Girls’ Generation, one of the top South Korean girl groups, swept various music charts at home and other Asian countries Wednesday after making a long-awaited return to the music scene. The album’s title piece “Party” topped eight Korean music services, including Genie, Melon and Mnet, as of 9 a.m. [...]
COLOGNE, Germany, July 7 (Korea Bizwire) — Bridging Worlds: On the road to the digiconomy, the dmexco Conference 2015 program and its top speakers from every region of the world will create crucial bridges between the most relevant themes on the one hand and, on the other, the big advertising brands, the major agency networks, [...]
SEOUL, July 7 (Korea Bizwire) – As Samsung Group and U.S. hedge fund Elliott Management are struggling over the merger between Cheil Industries and Samsung C&T, some are raising concern that Korean firms’ management rights should be defended from attacks by international hedge funds. They say that as the Korean economy has matured and its financial markets are [...]
SEOUL, July 7 (Korea Bizwire) – After the proxy advisory firm Institutional Shareholder Services (ISS) released its report opposing the merger between Samsung C&T and Cheil Industries, the de facto holding company of the Samsung Group, Korean stock companies criticized faults in the advisory report one after another. On July 6, Korea Investment and Securities assumed [...]