DAEJEON/SEOUL, March 16 (Korea Bizwire) – The current chief of KT&G Corp. was reappointed to head the South Korean tobacco maker for another three years, the company said Friday. Baek Bok-in’s reappointment was approved by a regular meeting of shareholders in Daejeon, central South Korea, earlier in the day, it said. The company is South Korea’s largest tobacco and ginseng product manufacturer, [...]
BUSAN, March 16 (Korea Bizwire) – Busan Port, South Korea’s maritime gateway, will modernize its network infrastructure to efficiently handle cargo traffic and improve safety, the oceans ministry said Friday. The Ministry of Oceans and Fisheries said it will use the Internet of Things (IoT) technology to upgrade the southeastern port’s cargo management system in [...]
SEOUL, March 16 (Korea Bizwire) — South Korean fertility clinics will have to disclose their treatment success rates starting this September. Under new health care reforms proposed by the Ministry of Health on Tuesday, fertility clinics will be obliged to share their success rates with patients, a move designed to protect the rights of couples struggling [...]
GIMHAE, March 16 (Korea Bizwire) — From regular checkups to medical counseling, scores of municipal governments across South Korea are adopting mobile health technology in a bid to improve public health. The city government of Gimhae is among the 70 local governing bodies that have adopted a mobile health center system as part of a joint [...]
SEOUL, May 16 (Korea Bizwire) – Carmakers on Monday balked at President Moon Jae-in’s pledges against diesel-powered vehicles, citing no alternatives to the fuel-efficient cars particularly for businesses. During the campaign, President Moon vowed to fully remove diesel-fueled vehicles from the street by 2030 to help sharply reduce air pollutants. He said his government will reduce fine dust [...]
SEOUL, May 16 (Korea Bizwire) – The first-quarter earnings of credit card companies in South Korea jumped 59.9 percent from a year earlier due mainly to one-off factors, the country’s financial regulator said Monday. The combined net profit of eight credit card firms, including Shinhan Card Co. and Lotte Card Co., came to 803.7 billion won (US$718.5 million) in the January-March period, compared to 502.5 billion won the previous year, [...]
SEOUL, May 12 (Korea Bizwire) – As Moon Jae-in was sworn into office as the 19th president of South Korea earlier this week, a pledge made during his campaign to scrap what is widely known as minimum phone bill charges has come back into the spotlight, a policy many voters viewed favorably amid a record high [...]
SEOUL, May 12 (Korea Bizwire) – Samsung Electronics Co. on Friday opened a new department under its chip division focusing on the foundry business, in line with the company’s efforts to expand its market presence in the area. The foundry business refers to making chip designs for other companies that do not have a semiconductor [...]
SEOUL, May 12 (Korea Bizwire) – Korea Investment Corp. (KIC), South Korea’s sovereign wealth fund, said Friday it posted US$4 billion in investment gains last year. The sovereign fund — which handles $110.8 billion in assets under management — reported a return ratio of 4.35 percent from its investments in overseas stocks and bonds for [...]
SEOUL, May 12 (Korea Bizwire) – President Moon Jae-in on Friday ordered the scrapping of controversial history textbooks authored by a government committee set up under the former conservative administration. “As efforts to normalize history education, the president has ordered the abolition of state authored history textbooks,” Moon’s chief press secretary Yoon Young-chan told a [...]