SEOUL, March 23 (Yonhap) – Normally, a 100-person-deep queue in front of Gyeongbok Palace in Seoul would hardly raise any eyebrows. After all, it’s the most iconic attraction in the city. In a wintry March evening, though, it very well may have — not only because palaces are often closed after dark, but because these [...]
SEOUL, March 23 (Korea Bizwire) – After cigarette prices were raised in 2015, consumers are now purchasing tobacco products directly from foreign countries. According to data from the Ministry of Government Administration and Home Affairs, 21,869 parcels containing cigarettes were imposed duties from January to July 2015, which translates to approximately 3,124 parcels per month. The [...]
SEJONG, March 22 (Korea Bizwire) – A recent survey has revealed that the tourists spending the largest sums while visiting Korea were from the Middle East. A large portion of the spending was related to shopping and medical services including cosmetic surgery. According to OECD data, 14.2 million tourists visited Korea in 2014, for a [...]
SEJONG, March 22 (Korea Bizwire) – Global rating agency Moody’s Investors Service said Tuesday that it maintains its rating on South Korea at a record high of Aa2, citing its sound economic fundamental and reduced vulnerability to external risks, with its rating outlook also remaining stable. But the escalating tension stemming from North Korea’s recent provocations [...]
SEOUL, March 22 (Korea Bizwire) – The top nuclear envoys of South Korea and the United States agreed Tuesday to “actively” push for three-way consultations involving China over the implementation of new U.N. sanctions on North Korea and its denuclearization, Seoul’s Foreign Ministry said. Kim Hong-kyun, South Korea’s special representative for Korean Peninsula peace and security [...]
SEOUL, March 22 (Korea Bizwire) – For foreigners visiting South Korea, museums and ancient palace tours are not the most intriguing cultural experiences. Street food was top on their travel lists, a survey showed Tuesday.’ According to the online poll by the state-run Korea Tourism Organization (KTO) on 4,369 foreigners, 54.2 percent said they want to [...]
SEJONG, March 22 (Korea Bizwire) – Two bottlenose dolphins that were returned to sea in June 2015 are adjusting well to their natural habitat. The Ministry of Maritime Affairs and Fisheries announced that Taesan (male) and Boksun (female), the two bottlenose dolphins that were released near Hamduk, Jeju, were recently spotted. They were happily swimming in pod [...]
SEOUL, March 22 (Korea Bizwire) – The number of single-person households in Korea has continued to increase, and now makes up a quarter of the total, exerting great influence on the food and beverage, retail, and service industries. According to recent industry reports, the number of single-person households reached 5.06 million last year (26.5 [...]
CHUNGDO, March 22 (Korea Bizwire) – Gangchang the fighting bull has set a new record. The bull is one of the strongest contestants in Cheongdo bullfighting. Cheongdo bullfighting is one of the representative traditional events of the region, which goes back 1,000 years. The event has its origins in the tradition farming culture of the [...]
SEOUL, March 22 (Korea Bizwire) – Eight out of ten Korean corporations have been shown to lack understanding of or preparation for the Base Erosion and Profit Shifting (BEPS) project, also known as the ‘Google tax’. The ‘Google tax’ can be understood from two perspectives. The first purpose of the tax is to protect intellectual property [...]