SEOUL, Mar. 27 (Korea Bizwire) — South Korea’s troubled automobile industry faces yet another blow amid growing speculation that the government might trade the sector in for favorable steel tariffs. Speaking to the press at Incheon Airport, South Korean trade minister Kim Hyun-jong. who had just returned from Washington, said, “Understanding on the bilateral FTA and [...]
SEOUL, March 26 (Korea Bizwire) – South Korea’s Navy conducted a sea exercise in the East Sea Monday on the eighth anniversary of a deadly torpedo attack by North Korea, a defense official said. More than 10 warships were mobilized, along with aircraft, while exercises in the Yellow Sea and the South Sea were canceled due to bad weather. The Navy’s [...]
SEOUL, March 26 (Korea Bizwire) – JD Sports Fashion PLC, a major British sports fashion retailer, will open its first Korean store in Seoul next month as part of its overseas expansion drive, its local unit said Monday. The new store will open in the affluent Gangnam district on April 13, marking the firm’s first inroad into the Northeast Asian market, according to JD Sports Fashion Korea, a joint venture set up by the British firm [...]
SEOUL, Mar. 26 (Korea Bizwire) — Plans to plant grasses at Seoul City Hall Plaza have been postponed amid high fine dust levels across the country. After being used an ice skating rink, dozens of workers were supposed to cover the plaza in front of City Hall with patches of grass. The plans, however, were canceled [...]
SEOUL, Mar. 26 (Korea Bizwire) — Wealthy South Koreans are healthier and live significantly longer than poor people in every city across the country, according to a new report. Those in the top 20 percent income bracket have both a higher life expectancy and a higher healthy life expectancy, the report from the Korean Society for [...]
GWANGJU/SEOUL, March 26 (Korea Bizwire) – The labor union of Kumho Tire Co. on Monday spurned a call by state-run creditor bank to let all employees vote on the planned sale of a majority stake in the troubled tiremaker to China’s Qingdao Doublestar Co. The rebuff came shortly after Lee Dong-gull, chairman and CEO of the Korea Development Bank (KDB), called for all employees of Kumho Tire to vote on the future of the company. Lee told reporters [...]
CHORZOW, Poland, March 26 (Korea Bizwire) – South Korean defender Kim Jin-su will retrun home after injuring his left knee during a friendly football match against Northern Ireland last week, a national football team official said Monday. The men’s national football team is currently staying in Chorzow, Poland, to prepare for its friendly against Poland on Tuesday. South Korea came here after playing against Northern Ireland in Belfast on Saturday. The [...]
SEOUL, March 26 (Korea Bizwire) – Cheong Wa Dae on Monday welcomed South Korea’s exemption from U.S. steel tariffs, calling the deal a “perfect win-win” agreement that would further solidify the alliance between the two countries. The U.S. has agreed to exempt South Korea from the 25-percent additional tariffs it plans to impose on steel [...]
SEOUL, Mar. 26 (Korea Bizwire) — The organizers of the PyeongChang Olympics were able to economize nearly 500 million won thanks to mobile meal vouchers. Up to 500,000 meals worth 3.5 billion won were purchased via the digital meal vouchers during the 60 days around the Winter Games, Vendys, the startup company behind the money-saving idea, [...]
SEOUL, Mar. 26 (Korea Bizwire) — Guesthouses continue to gain popularity in South Korea amid a growing number of solo travelers, but some are choosing to forgo these small lodgings establishments following a number of crimes targeting vulnerable guests. According to data from big data analysis firm Daumsoft, the number of online posts mentioning ‘guesthouses’ jumped [...]