SEOUL, April 27 (Korea Bizwire) – South Korean part-time workers saw their hourly wage jump more than 11 percent on-year in the first quarter to exceed the legal floor of 5,580 won (US$5.19), a poll showed Monday. The average hourly wage of part-timers came to 6,910 won in the January-March period, up 11.3 percent from [...]
SEOUL, April 27 (Korea Bizwire) — System integrators affiliated with South Korea’s family-run business groups increased internal transactions in 2014 despite the government’s efforts to curb excessive groupwide trades, data showed Monday. Internal transactions of the top 20 system integration subsidiaries of the family-run conglomerates, locally called chaebol, came to 8.36 trillion won (US$7.74 billion) [...]
SEJONG, April 26 (Korea Bizwire) — Mercedes-Benz Korea, the local importer of the luxury German car brand, is recalling nearly 2,800 vehicles sold here because of an oil leak that may lead to a fire, the transportation ministry said Sunday. Due to a defective part in 10 vehicle models, including the E220, engine oil may leak, [...]
SEOUL, April 26 (Korea Bizwire) — SK Planet, South Korea’s leading e-commerce platform operator, said Sunday it has launched its flagship online shopping site in Malaysia as part of its overseas expansion. 11street, the online open-market site run by SK Planet, began its service there Friday, under the Internet domain www.11street.my and via its mobile [...]
SEOUL, April 26 (Korea Bizwire) — South Korea is considering offering emergency relief for earthquake-stricken Nepal, a foreign ministry official said Sunday. The official told Yonhap News Agency the government is looking into the possibility of offering Nepal relief funds and sending a message of condolence. “We will see in what areas relief efforts will [...]
SEOUL, April 25 (Korea Bizwire) — Samsung Electronics, South Korea’s No. 1 tech giant, said Saturday it plans to inject US$5 million into Brazil over the next five years to foster startups there, adding it will also share its business know-how. Under the agreement with the Brazilian Association of Science Parks and Business Incubators, an [...]
SEOUL, April 24 (Korea Bizwire) — The government said Friday it will ease regulations on major television networks’ advertising time to help boost the struggling TV advertising market in fair competition with paid TV services under less strict rules. The Korea Communications Commission (KCC) approved a revised broadcasting bill that would scrap the currently strict rules [...]
SEOUL, April 24 (Korea Bizwire) — Tens of thousands of unionized workers walked out of their work places across the country Friday against government plans to reform the pension system for public servants and introduce a more flexible labor market. About 260,000 unionized workers joined the one-day walkout launched in 2,829 work places across the [...]
SEOUL, April 24 (Korea Bizwire) — The much-anticipated Hollywood blockbuster “The Avengers: Age of Ultron” has drawn a large attendance of 620,000 on the day of release in South Korea, a market tracker said Friday. A total of 622,210 viewers saw the film on 1,731 screens around the country Thursday, a number which accounts for [...]
SEOUL, April 24 (Korea Bizwire) – On March 3, a businessman surnamed Lee visited a bank in Seoul’s Gangnam district and asked a teller to change 5 million won into Singapore dollars. The teller mistakenly gave Lee S$60,000 instead of S$6,000, filling an envelope with sixty S$1,000 notes rather than S$100 notes. When the teller found [...]