Korea Bizwire, Author at Be Korea-savvy | Page 3 of 58
DSME Continues Downfall: Will There Ever be a Way Out?

DSME Continues Downfall: Will There Ever be a Way Out?

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 [...]

Shareholders United to Sue Daewoo Shipbuilding for Damages

Shareholders United to Sue Daewoo Shipbuilding for Damages

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 [...]

Fund to Enhance Youth Employment Raises 1.92 bln Won in Donation

Fund to Enhance Youth Employment Raises 1.92 bln Won in Donation

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 [...]

Wireless Carriers Look to Health Care as Their “New Cash Cow”

Wireless Carriers Look to Health Care as Their “New Cash Cow”

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 [...]

Korea Declares War on “Enemy No. 1″ in Ecosystem

Korea Declares War on “Enemy No. 1″ in Ecosystem

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 [...]

Trump Says Korea Should Shoulder More Military Cost for US Troops

Trump Says Korea Should Shoulder More Military Cost for US Troops

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 [...]

Foreign Investors Pull out of Samsung Electronics Ownership

Foreign Investors Pull out of Samsung Electronics Ownership

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 [...]

Youth Unemployment Worse Than During Financial Crisis

Youth Unemployment Worse Than During Financial Crisis

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 [...]