SEOUL, Oct. 2 (Korea Bizwire) — American slugger Eric Thames became the first player in South Korean baseball on Friday with a 40-40 season. Thames, the hard-hitting first baseman for the NC Dinos in the Korea Baseball Organization (KBO), swiped his 40th bag of the season in the third inning against the SK Wyverns on [...]
SEOUL, Oct. 1 (Korea Bizwire) – The after effects of Daewoo Shipbuilding & Marine Engineering Co.’s financial troubles are continuing. After a three trillion won loss in the second quarter was reflected in the company’s books, its shares plummeted. But as DSME’s third quarter performance is also expected to be troubling, financial analysts are lowering [...]
SEOUL, Sept. 30 (Korea Bizwire) – A group of 119 minority shareholders filed a class action suit against Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Wednesday, demanding 4.1 billion won (US$3.47 million) in compensation for losses from an investment made based on the company’s doctored financial statement. The plaintiff filed the suit with the [...]
SEOUL, Sept. 30 (Korea Bizwire) — A youth employment fund proposed by President Park Geun-hye drew 1.92 billion won (US$1.62 million) from about 50,000 people in the first five days after its creation on Sept. 21, the presidential office said Wednesday. Park proposed to establish a private fund that helps create jobs for young people [...]
SEOUL, Sept. 30 (Korea Bizwire) – With the advance of information communication technology(ICT), boundaries between businesses are falling apart rapidly, and collaboration among different businesses is becoming a new norm. Telecommunication industry is no exception and they are stepping into the medical service field betting this will sustain their growth. According to industry watchers, SK Telecom and [...]
CHUNGJU, Sept. 30 (Korea Bizwire) –- Local governments including Chungju and Ulsan have set off for the lakes and reservoirs — with harpoons in their hands — to eradicate Korean ecosystem’s “Enemy No. 1″ : Bass and Bluegills, mostly blamed for disturbing “natural order” across the nation. The city of Chungju has recently announced that [...]
WASHINGTON, Sept. 28 (Korea Bizwire) – U.S. Republican presidential front-runner Donald Trump said Monday that if elected president, he would try to have wealthy countries like South Korea, Germany and Saudi Arabia shoulder more of the cost for the upkeep of American troops stationed in those countries. It was the latest in a series of [...]
SEOUL, Sept. 29 (Korea Bizwire) – Foreign ownership of Samsung Electronics Co. has dropped below the 51 percent level for the first time in 14 months, market data showed Tuesday, as offshore investors continue to sell its shares due to a bleak earnings outlook. Foreign holdings of Samsung Electronics shares came to 50.76 percent as [...]
BEIJING, Sept. 29 (Korea Bizwire) – Business confidence of South Korean firms in China dropped in the third quarter of this year, hit by sluggish sales as the Chinese economy is cooling down. The quarterly business survey index (BSI) of about 230 South Korean firms, an indicator of their outlook for the coming quarter, was [...]
SEJONG, Sept. 29 (Korea Bizwire) – Unemployment among young people in South Korea is worse than the level reached during the global financial crisis, a state-run think tank said Tuesday, calling for urgent measures to tackle the problem. The Korea Institute for Industrial Economics and Trade (KIET) said in a report that overall conditions for [...]