SEOUL, Nov. 16 (Korea Bizwire) – The new Pororo movie, which is expected to premiere next month, will receive the ScreenX treatment at South Korean cinema chain CGV. CGV announced on Wednesday that the latest Pororo’s movie will be released as a ScreenX film with extra content displayed on additional screens to the right and [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea is continuing efforts to create its own Goldman Sachs, with the government encouraging firms to become larger in size to compete with international investment banks. The Financial Services Commission (FSC) is pushing for the establishment of a major competitive South Korean investment bank by creating an environment where [...]
SEOUL, Nov. 16 (Korea Bizwire) – Public transport in Seoul will become free on days with high fine dust levels, beginning next Monday. Seoul’s free public transport program is expected to take effect in less than a week, a policy that will see passengers ride buses and the subway free of charge when the air quality [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korea’s Navy said Wednesday it has set up a monument for a lesser known but significant victory in Incheon, west of Seoul, during the 1950-53 Korean War. Called the 2nd Incheon amphibious operation, it took place on Feb. 10, 1951, five months after the historic Incheon battle commanded by U.S. Army Gen. Douglas MacArthur. Led by a joint [...]
SEOUL, Nov. 15 (Korea Bizwire) – Korea Aerospace Industries Co. (KAI), South Korea’s only aircraft maker, said Wednesday it achieved an international top rating in software development capability, a feat that it hopes will bolster its exports. KAI earned a level 5 rating of the Capability Maturity Model Integration (CMMI), which appraises all aspects of a company’s aeronautical prowess, as well as the ability to push forward [...]
SEOUL, Nov. 15 (Korea Bizwire) – Nuclear reactors located on South Korea’s southeastern coast were not affected by a series of strong earthquakes that hit the nearby city of Pohang on Wednesday, the state nuclear operator said. The first magnitude 5.5 quake hit north of Pohang, located 370 kilometers southeast of Seoul, at around 2:30 p.m. The area was hit by a second 5.4quake minutes later, the state [...]
SEJONG, Nov. 15 (Korea Bizwire) – South Korea’s finance minister said Wednesday that the government will make efforts to reduce increasing labor costs that small businesses would suffer due to the government-led hike in minimum wage. President Moon Jae-in has pledged to increase the minimum wage to 10,000 won (US$8.98) by 2020. 2020, as part of his efforts to narrow the income gap and boost private consumption, which may [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean tech giants said Wednesday no damage has been reported at production plants following the magnitude 5.4 earthquake which struck the southeastern city of Pohang earlier in the day. The quake occurred at around 2:29 p.m. some 9 kilometers north of Pohang, the Korea Meteorological Administration said. The quake was felt across [...]
SEOUL, Nov. 15 (Korea Bizwire) – Aftershocks are expected to continue in Pohang following the rare 5.4-magnitude earthquake that hit the region on Wednesday afternoon. As over 5.0-magnitude earthquakes are often followed by a series of aftershocks of various intensities in the months that follow, more aftershocks are expected to hit Pohang, said Lee Mi-sun, the [...]
SEOUL, Nov. 15 (Korea Bizwire) – KT is set to form a consortium between credit card companies for a connected car commerce project. The new initiative from the South Korean IT giant will see a number of credit card companies including Lotte Card, BC Card, Smartro and the energy company E1 work together to create a [...]