SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s 100 richest people own stocks worth more than one third of the country’s national budget amid a recent stock rally, industry data showed Thursday. The value of stocks held by the 100 richest people reached 123.2 trillion won (US$110.5 billion) as of the end of Wednesday, up [...]
BEIJING, Nov. 2 (Korea Bizwire) – K-pop quartet Mamamoo has filmed a segment for a Chinese TV music program this week, raising the prospect of Beijing possibly lifting its ban on “hallyu,” or South Korean pop culture, sources said Thursday. The South Korean girl group reportedly arrived in China on Tuesday through Chengdu Shuangliu International [...]
SEOUL, Nov. 2 (Korea Bizwire) – The Foundation for Broadcast Culture (FBC), the largest shareholder of MBC TV, voted to fire its chairman Thursday, holding him responsible for the network management’s alleged unfair labor practices and politically biased interference in news coverage under previous conservative governments. The FBC board decided to dismiss Chairman Koh Young-ju [...]
SEOUL, Nov. 2 (Korea Bizwire) – Only one person has turned up to wait overnight for mobile carrier KT’s special launch event of the iPhone 8 in South Korea, in contrast with its predecessors. A 27-year-old man Lee Gyu-min is the only person that has been waiting in line for KT’s iPhone 8 launch event [...]
SEOUL, Nov. 2 (Korea Bizwire) – The head of the Fair Trade Commission, Kim Sang-jo, announced plans to investigate the management of private foundations owned by major companies, as part of efforts to reform conglomerates and improve transparency, during a policy meeting today. The FTC made the announcement at today’s policy gathering in Seoul with [...]
DAEJEON, Nov. 3 (Korea Bizwire) – Transport authorities in Daejeon have placed teddy bears in local subway trains to help raise awareness of priority seats for the pregnant, a move inspired by a local hospital. The Daejeon Metropolitan Express Transit Corporation said on Wednesday that the local transport authority has used the interesting tactic to [...]
SEOUL, Nov. 2 (Korea Bizwire) – Insurance plans that give incentives to clients when they improve their health by walking or getting medical checkups are set to be introduced in South Korea as soon as later this year. According to the Financial Services Commission and the Financial Supervisory Service on Wednesday, guidelines have been established [...]
SEJONG, Nov. 2 (Korea Bizwire) – A new report by a government-backed policy institute has claimed that the introduction of the 40-hour work week has led to a 1.5 percent rise in productivity. The report, published by researchers Park Yun-soo and Park Woo-ram at the Korea Development Institute on Wednesday, showed fewer working hours are linked [...]
UIJEONGBU, Nov. 2 (Korea Bizwire) – The Gyeonggi Provincial Government announced today it will host the Pangyo Autonomous Motor Show 2017, the world’s very first motor show dedicated to autonomous cars. According to the government, the Pangyo Autonomous Motor Show (PAMS), which will be held from November 16 to 18 at Pangyo Zero City in Seongnam, [...]
SEOUL, Nov. 1 (Korea Bizwire) – Reigning South Korean baseball champions Kia Tigers signed their manager Kim Ki-tai to a three-year extension Wednesday, two days after clinching the title. The Korea Baseball Organization (KBO) club said Kim has agreed to a new three-year deal worth 2 billion won (US$1.8 million), including a signing bonus of [...]