SEOUL, June 10 (Korea Bizwire) — The number of executives at South Korea’s conglomerates have declined in the first quarter, a report showed Wednesday, as many businesses here scrambled to cut back costs amid a protracted economic slowdown. The number of high-ranking executives at 268 firms affiliated with 30 local conglomerates stood at 10,486 in [...]
SEOUL, June 10 (Korea Bizwire) – The country’s first-ever outbreak of Middle East Respiratory Syndrome (MERS) is forecast to hinder economic growth as South Koreans scale back spending amid growing alarm over the viral respiratory illness, a report showed Wednesday. Morgan Stanley projected South Korea’s annual economic growth to fall by 0.15 percentage point if the MERS [...]
SEOUL, June 9 (Korea Bizwire) – The much-awaited exhibition of artwork visualized by a young icon of Korean pop music has kicked off at a Seoul gallery. The “PEACEMINUSONE: Beyond the Stage” exhibition began receiving visitors at the Seoul Museum of Art in downtown Seoul on June 9. The exhibition, a co-production of YG Entertainment and [...]
SEOUL, June 9 (Korea Bizwire) – Busan officials have confirmed that a Taiwanese TV drama has landed in the city, saying that scenes from the drama “Marry Me, or Not?” are currently being filmed. It is the first Taiwanese drama to feature Busan. The drama will be led by famous actor Roy Chiu, who is [...]
SEOUL, June 9 (Korea Bizwire) – The outbreak of Middle East Respiratory Syndrome (MERS) in Korea is even having a negative effect on sales of agricultural products from Sunchang County in North Jeolla Province, where a patient tested positive for MERS. One raspberry farmer said, “Among some 30 pre-orders for raspberry products, almost half were cancelled in [...]
SEJONG, June 9 (Korea Bizwire) — Job creation by South Korean listed companies has plunged over the past four years as weak demand force them to scale back investment and hiring, data showed Tuesday. According to the data by Statistics Korea and market research FnGuide, listed companies offered some six jobs for every 100 positions [...]
SEOUL, June 9 (Korea Bizwire) — Hyundai Motor, South Korea’s top automaker, plans to begin selling the all-new Tucson SUV in the North American market starting in July, a company official said Tuesday. The latest version of the Tucson compact SUV was launched in March here, appealing to customers with improved designs, more space, and better [...]
SEJONG, June 9 (Korea Bizwire) — Camel food products are not imported into or distributed in South Korea, the agriculture ministry said Tuesday, amid criticism over the government’s seemingly unrealistic advice on shunning camel meat and milk consumption to avoid Middle East Respiratory Syndrome (MERS). Since the first outbreak of the acute respiratory illness on [...]
SEOUL, June 8 (Korea Bizwire) – South Korean companies are rushing to step up their emergency response efforts to better protect their employees from Middle East Respiratory Syndrome (MERS), which is showing signs of a wide spread in South Korea. South Korea remains gripped by the potentially deadly disease that has claimed six lives so far [...]
SEOUL, June 8 (Korea Bizwire) – SK Hynix and its trade union introduced a new model for coexistence and cooperation with subcontractors by raising funds through the donation of part of their increased wages. On June 7, the world’s second largest DRAM chip supplier announced that it decided to implement the wage-sharing program to improve working conditions [...]