SEOUL, Aug. 29 (Korea Bizwire) — South Korean banks’ second-quarter net profit was flat from the previous quarter as an increase in the Korea Development Bank’s (KDB) net profit offset a decline in ordinary banks’ net profit, preliminary data showed Tuesday. The combined net profit of 20 banks in the April-June period was 7.1 trillion [...]
SEOUL, Aug. 29 (Korea Bizwire) — President Yoon Suk Yeol said Tuesday the government will provide less-lethal handguns to all police personnel working in the field in the wake of a series of stabbing rampages and violent crimes. Providing less-lethal handguns is aimed at encouraging the police to use such weapons to tackle crimes, as [...]
SEOUL, Aug. 29 (Korea Bizwire) — A controversial plan by the southwestern city of Gwangju to build a park in commemoration of Korean-born Chinese composer Jeong Yul-seong has met with fierce opposition from the conservative central government and veterans and conservative organizations. Jeong, who is also known by his Chinese name Zheng Lucheng, is revered [...]
SEOUL, Aug. 29 (Korea Bizwire) — Hyundai Engineering & Construction Co. (Hyundai E&C), South Korea’s No. 2 builder, has placed 11th among global construction companies in terms of overseas sales, an industry report showed Tuesday. Hyundai E&C posted US$6.83 billion in overseas sales in 2022, up 18.6 percent from a year earlier and the 11th-largest [...]
SEOUL, Aug. 29 (Korea Bizwire) — A recent study found that four out of every 10 Instagram accounts belonging to large companies in South Korea were found to be posting misleading environmental content, a practice known as “greenwashing.” This often confuses consumers, making them think the companies are more environmentally friendly than they actually are. [...]
SEOUL, Aug. 29 (Korea Bizwire) — The percentage of young adults who hold a favorable view of marriage has significantly decreased compared to a decade ago, a survey showed Monday. According to a survey conducted by Statistics Korea, only 36.4 percent of young adults expressed a positive attitude towards marriage in May 2022, marking a [...]
SEOUL, Aug. 29 (Korea Bizwire) – Calls for the right to take breaks during heatwaves are intensifying in South Korea, as summers grow hotter due to climate change. Over the last five years, a total of 23 workers have succumbed to heat-related ailments such as heatstroke, heat exhaustion, and heat cramps while on the job. [...]
SEOUL, Aug. 29 (Korea Bizwire) — After Japan commenced the discharge of contaminated water from the Fukushima nuclear power plant, Japanese individuals staying or visiting South Korea appear to be exercising great caution. The majority of them take the stance of comprehending the concerns of Koreans and having confidence in the Japanese government’s official statements. [...]
SEOUL, Aug. 29 (Korea Bizwire) — Whenever there are stabbing incidents in recent days, real-time on-site videos of these events are uploaded to the Internet, causing citizens to experience fatigue. Last Saturday, a man in his late 30s was arrested in the parking lot of a residential building in the Seoul’s northwestern ward of Eunpyeong, [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean companies are choosing to reduce the issuance of corporate bonds and are instead turning to bank loans to secure funds during an unexpectedly prolonged period of high interest rates, data showed Monday. Net repayments in the corporate bond market have shown a consistent upward trend, with the [...]