BUSAN, Nov. 17 (Korea Bizwire) – Piloti-type buildings in South Korea are in the spotlight over their vulnerability to earthquakes in the wake of the 5.4-magnitude temblor in Pohang on Wednesday. Safety concerns are growing over residential buildings supported by pillars on the first floor, also known as pilotis, as one of the most popular architectural [...]
SEOUL, Nov. 17 (Korea Bizwire) – Despite record KOSPI earnings, only a small number of conglomerates have reported significant increases in profits this year. According to reports from the Korea Exchange, the accumulated net earnings of 525 KOSPI-listed companies during the first three quarters were estimated to be around 92.5 trillion won, up 34.2 percent from [...]
SEOUL, Nov. 16 (Korea Bizwire) – The United Nations Command (UNC) reversed a plan Thursday to make public footage of a North Korean soldier making a desperate defection dash to South Korea earlier this week. It cited concern over unnecessary speculation on what happened at the truce village of Panmunjom on Monday afternoon. The North’s soldier suffered multiple gunshot wounds, chased by his fellow soldiers [...]
SEOUL, Nov. 16 (Korea Bizwire) – Bae Suzy, better known by her stage name Suzy, and Lee Min-ho have put an end to their romantic relationship, the actress’ agency confirmed Thursday. JYP Entertainment said the celebrity couple recently split after threeyears of dating. They were confirmed to be an item in March 2015. In September 2015 and August last year, rumors had it that the two parted [...]
SINGAPORE, Nov. 16 (Korea Bizwire) – Singapore recently banned all commercial trade with North Korea in compliance with the U.N. resolutions against the communist country’s nuclear and missile tests. In its Nov. 7 Circular sent to traders, Singapore Customs announced a prohibition of all commercially traded goods that are imported from or exported to the North through Singapore. As to noncommercial transactions with the North, the ban applies to [...]
SEOUL, Nov. 16 (Korea Bizwire) – President Moon Jae-in on Thursday offered consolation to people displaced by the latest earthquake in the southeastern city of Pohang, pledging all-out efforts to help all those affected by the quake. “I offer my word of consolation to residents of Pohang and surrounded areas affected by the quake,” the president said in a message [...]
SEOUL, November 16 (Korea Bizwire) – A new report has revealed that Myeongdong is the 8th most expensive place for commercial rents in the world, following the likes of Fifth Avenue in New York and Causeway Bay in Hong Kong. Global property consulting firm Cushman & Wakefield named Myeongdong, one of the biggest shopping districts in [...]
SEOUL, November 16 (Korea Bizwire) – More than 10,000 security guards are at risk of losing their job after the new minimum wage hike takes effect in less than two months, a new study has revealed. With the increased minimum wage of 7,530 won taking effect next year, growing personnel expenses could see more apartment blocks [...]
SEOUL, November 16 (Korea Bizwire) – South Korean military officials are reportedly contemplating a change to the current rules of engagement at the inter-Korean border, following criticism over the response to North Korean troops firing shots at a defecting North Korean soldier. According to a source close to the military on Wednesday, despite the United Nations [...]
SEOUL, Nov. 16 (Korea Bizwire) – Traditional Korean instruments will be a rare sight at the 2018 PyeongChang Winter Olympic, as officials announced a ban on loud musical instruments during competitions. According to the PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Games on Wednesday, a number of musical instruments will be banned at stadiums [...]