SEOUL, March 8 (Korea Bizwire) — A majority of economic experts in South Korea forecast that the economic growth rate for this year will be lower than what the government and the central bank predict, seeing the current situation as a “crisis,” a survey showed Sunday. According to the survey of 34 experts from private [...]
SEOUL, March 8 (Korea Bizwire) — The amount of dividends to be paid to the heads of South Korea’s top 10 business groups will reach an all-time high for the 2014 fiscal year, market data showed Sunday. According to the data provided by financial investment firms and Chaebul.com, a website that tracks the country’s conglomerates, [...]
BEIJING, March 7 (Korea Bizwire) — Chinese Commerce Minister Gao Hucheng said Saturday that Beijing will “accelerate” negotiations this year with South Korea and Japan aimed at forging a three-way free trade agreement. Speaking at an annual press conference, Gao also reiterated that South Korea and China will spare no effort to formally sign a [...]
SEOUL, March 5 (Korea Bizwire) — South Korea’s top conglomerate Samsung, which holds one of the leading smartphone makers Samsung Electronics under its wing, was declared as the second-most valuable brand in the globe, data showed Thursday. The price tag on the Samsung brand was estimated at US$81.7 billion in 2015, up 4 percent from a [...]
SEOUL, March 4 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Wednesday that it has signed a tentative deal with a sovereign fund of Saudi Arabia to push for “comprehensive” cooperation that includes construction and automaking. The tie-up was promised under a memorandum of understanding signed by POSCO CEO Kwon Oh-joon and Abdulrahman Al [...]
“The government should re-assess whether to extend the life of the nuclear reactor by considering its safety, public views towards it, and economic viability. If the overall assessment is negative, there’s no need to re-activate the reactor.” - Suh Kune-yull, nuclear engineering professor at Seoul National University “Wolsong-1 has not passed the stress test as [...]
SEOUL, March 3 (Korea Bizwire) — The largest network of smokers in South Korea asked the Constitutional Court Tuesday to review the constitutionality of the current ban on smoking in all restaurants, saying it infringes on people’s right to happiness. A revised national health law took effect on Jan. 1, expanding the ban that had previously [...]
SEOUL, March 3 (Korea Bizwire) — Ssangyong Motor, South Korea’s smallest carmaker, said Tuesday that it has unveiled its Tivoli small sport utility vehicle (SUV) on the global stage as part of efforts to strengthen its foothold in the fast-growing SUV market in Europe. Ssangyong Motor said it is showcasing the Tivoli along with its [...]
SEOUL, March 2 (Korea Bizwire) — Incheon, the South Korean host of the 2014 Asian Games, has reached a consulting agreement with the event’s next host, hoping to share its experience and knowledge of staging the continent’s largest multisport competition, officials said Monday. The organizing committee for the 2014 Incheon Asian Games said its secretary-general, [...]
SEOUL, March 2 (Korea Bizwire) — Global mobile messenger provider Viber said Monday it will appeal a South Korean court ruling that may ban its local operation, signaling a protracted battle with South Korea’s No. 1 mobile carrier, SK Telecom. “Because Viber believes the court’s decision was made in error, it is appealing the court’s [...]