SEOUL, Oct. 27 (Korea Bizwire) – The number of users for Kakao’s simple payment service Kakaopay has reached 20 million, a first for the South Korean fintech industry, according to the company. Kakao Pay said its user base reached 20 million on Thursday, and explained that despite Naver Pay boasting a larger user base, its [...]
SEOUL, Oct. 26 (Korea Bizwire) – Sales of home security cameras in South Korea are growing rapidly, with many people purchasing them out of concern for their elderly parents. Demand for household CCTV cameras is continuing to grow, according to a number of home security camera operators in the country. Data provided by one of the [...]
SEOUL, Oct. 26 (Korea Bizwire) – South Korean steelmaker POSCO said Thursday Thursday its third-quarter profit almost doubled from a year earlier onhigher demand for steel products. Net profit for the July-September quarter soared to 907 billion won(US$806 million), up 91 percent from 476 billion won a year earlier, the company said in a statement. Operating profit climbed 8.8 percent on-year to 1.13 trillion won in the third [...]
SEOUL, Oct. 26 (Korea Bizwire) – Korea Aerospace Industries Co. (KAI), the country’s sole aircraft manufacturer, has named a former audit and inspection official its new chief executive after its former head stepped down in July over a corruption scandal. KAI held a board meeting on Wednesday to appoint Kim Jo-won, who worked at the Board of Audit and Inspection [...]
SEOUL, Oct. 26 (Korea Bizwire) – Hyundai Motor Co. said Thursday its third-quarter net profit fell 16 percent, due mainly to sharp declines in China sales amid a diplomatic row over the deployment of a U.S. advanced missile shield system here. In the July-September quarter, Hyundai Motor’s net profit fell to 939.2 billion won (US$835 million) from 1.12 trillion won a year earlier, the company said in a statement. The number [...]
ULSAN, Oct. 26 (Korea Bizwire) – The Ulsan National Institute of Science and Technology (UNIST) unveiled today a model for the U-Loop, its next generation ultra high-speed public transport mode at this year’s forum for public transport policy and technology. The first model for U-Loop, which is a hyperloop created by UNIST, was revealed Thursday [...]
SEOUL, Oct. 26 (Korea Bizwire) – The Seoul Metropolitan Government has announced plans to launch halal-safe Korean cooking classes as part of its efforts to attract Muslim tourists to the city. According to the Seoul government on Thursday, the winner of the third season of MasterChef Korea, Choi Gwang-ho, will lead the halal-style K-food Cooking Class [...]
SEOUL, Oct. 26 (Korea Bizwire) – It has been reported that China’s biggest travel agency, Ctrip, has been in contact with Lotte Hotel for a possible business deal, fueling speculation that China’s ban on package group tours to South Korea might soon be lifted. According to Lotte Hotel on Thursday, Ctrip has been in touch with [...]
SEOUL, Oct. 26 (Korea Bizwire) – A new companion animal safety law requiring pet owners to keep their dogs on a leash in public amid a spate of vicious dog attacks in recent months is already being questioned over its effectiveness. According to the Ministry of Agriculture, Food and Rural Affairs on Wednesday, a new reporting [...]
SEOUL, Oct. 26 (Korea Bizwire) – The government said Thursday that South Korean travelers flying to the U.S. destinations aboard budget carriers must arrive at airports three hours before the flight to undergo enhanced security checks and interviews. The Ministry of Land, Infrastructure and Transport said the moves come as the U.S. Transportation Security Administration (TSA) asked 180 airlines from 105 countries in June to carry out thorough pre-flight security checks of passengers through interviews and [...]