SEJONG, April 22 (Korea Bizwire) – South Korea will invest over 1.8 trillion won (US$1.66 billion) this year to help boost the clean and renewable energy sector with the related market expected to be worth some 4.6 trillion won by 2017, the government said Wednesday. Under the new measures, approved at an economic ministers’ meeting Wednesday, [...]
SEOUL, April 22 (Korea Bizwire) — South Korean chipmaker SK hynix saw its global ranking move up a notch to become the world’s fourth-largest player in the segment in 2014, data showed Wednesday. SK hynix saw its revenue reach US$16.1 billion last year, outpacing Micron Technology by $3 million, the data compiled by IHS Technology showed, narrowing [...]
SEOUL, April 21 (Korea Bizwire) – NH NongHyup, the National Agricultural Cooperative Federation, began its second “Sintoburi” campaign to boost consumption of locally produced farm products. Sintoburi means “domestic farm products are best for local people,” similar to the locavore movement. As imported farm products take on increasingly important roles at Koreans’ tables, the consumption [...]
SEOUL, April 21 (Korea Bizwire) – The unbelievable popularity of the Chinese-version Running Man is the talk of town these days. According to SBS, the original patent holder of the variety program, the first episode of “Hurry Up, Brother” Season 2 broadcast on April 17 recorded a 4.794% viewer rating, 0.678 percent point higher that the [...]
SEOUL, April 21 (Korea Bizwire) – As more Koreans are starting to enjoy homemade coffee at reasonable prices, coffee machine sales are steadily increasing. Popular models include capsule-type machines, which stand out for their simple operation. Lotte Department Store has six brands of coffee machines on offer since 2009, including Nespresso, Dolce Gusto, illy, Cremesso, [...]
SEOUL, April 21 (Korea Bizwire) – Foreign tobacco brands failed again to offer their products to Korean soldiers. According to the Ministry of National Defense Welfare Agency, the four tobacco brands that will be added this year were all from KT&G, including This Africa Mola. At this year’s bidding, brands from KT&G, PMI Korea, BAT Korea and JTI Korea [...]
SEOUL, April 21 (Korea Bizwire) – A free-learning semester in which students can focus on activities such as discussion-centered classes, club activities and career guidance will be introduced at all middle schools in Korea according to the provisions of a new law. The Ministry of Education announced a revision of the Enforcement Decree of the Elementary [...]
SEOUL, April 21 (Korea Bizwire) – The monthly wages of conscripted soldiers will be doubled from their 2012 levels by 2017, as the defense ministry aims to raise the monthly wage of a corporal to 195,800 won (US$180). The Ministry of National Defense released its mid-term national defense plan on April 20, which details the wage [...]
“I decided to donate my medals to the people of South Korea, because … you rebuilt your country and what you’ve done, it truly touches me. (The donation) is just to show you about my appreciation about what you’ve done, and I sincerely hope that the future generation of South Korea will follow their forebears [...]
SEOUL, April 21 (Korea Bizwire) — Shinsegae, a South Korean retail conglomerate, said Tuesday it plans to set up a new unit for duty-free shop operations, joining the race to win a bid to run new duty-free stores in downtown Seoul. Hotel Shilla, a major hotel chain and duty-free shop operator, and other existing duty-free [...]