SEOUL, Sept. 4 (Korea Bizwire) – Department stores and large retailers are launching gift sets for Chuseok, the Korean Thanksgiving holiday, that range from socks going for 2,800 won to 33 million won wine sets. Though the holiday is a symbol of richness, the polarization in the prices of the gift sets reflects a bitter [...]
SEOUL, Sept. 4 (Korea Bizwire) – According to the Seoul Metropolitan Government, Namdaemun-ro is the most congested area in Seoul. The average speed of cars traveling on the road that starts from Gwanggyo and leads to Sungnyemun Gate was 14 kilometers per hour. Naruteo-ro, which stretches from Sindong Elementary School to Sinsa station, ranked second, [...]
SEOUL, Sept. 4 (Korea Bizwire) – Recently, Korean smartphone makers are cutting prices for their newly introduced products in Korea to lure customers who have become more sensitive to price tags due to the mobile device distribution act. According to industry representatives, Samsung Electronics set the price tag of its Galaxy Note5 at 899,200 won [...]
SEOUL, Sept. 4 (Korea Bizwire) – Asiana Airlines barely reversed the verdict on an ordinary wage lawsuit filed by its laborers, but it cannot smile as the court revealed its poor financial status. According to airline industry watchers on September 3, the Seoul High Court sided with Asiana Airlines, reversing a lower court’s ruling that regular [...]
SEOUL, Sept. 4 (Korea Bizwire) – LG Plus, Korea’s third-largest mobile carrier, will offer approximately 44,000 receive-only mobile phones to all military camps in Korea for free. According to the Ministry of National Defense, the smallest mobile carrier was selected as the licensee for its project to deploy receive-only phones to military barracks as part of [...]
SEOUL, Sept. 4 (Korea Bizwire) - While the number of Koreans with a PhD is increasing rapidly, the demand for those who have completed higher education is not showing any growth, worsening employment conditions for high-quality human resources. It takes about 10 years to go from getting a bachelor’s degree all the way up to [...]
SEOUL, Sept. 4 (Korea Bizwire) — The head of South Korea’s top financial regulator pledged Friday to lower entry barriers for foreign banks seeking to tap into the local market. “To encourage financial companies to tap into other countries, each country must work to increase the conformity of their local rules with international norms,” Financial [...]
SEOUL, Sept. 4 (Korea Bizwire) — Nearly half of South Korea’s top businesses are expected to see their sales shrink this year due to a global economic slowdown and weak domestic demand, market observers said Friday. According to market analysts, only 56 percent of the country’s 300 largest firms by stock market capitalization are expected to [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s top tech giant Samsung Electronics showcased its latest smartwatch in Germany on Thursday, saying that the device will be available for sale early next month. Samsung said the Samsung Gear S2, the company’s first circular smartwatch unveiled at an annual trade show in Berlin, will hit the world [...]
SEOUL, Sept. 3 (Korea Bizwire) – Doors and windows that can be installed in a day with one phone call are creating a home shopping craze. The hot products are Z-in Doors and Windows from LG HAUSYS. According to GS Shop, a home shopping channel, LG HAUSYS’ Z:in Doors and Windows reached 50 billion won [...]