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Number of Visitors to Local Tourist Attractions Soars 60% During Holiday

SEOUL, Oct. 17 (Korea Bizwire) – The number of visitors to local tourist destinations soared nearly 60 percent during the recent Chuseok holiday season, government data showed Tuesday. According to data compiled by the Ministry of Culture, Sports and Tourism, 8.87 million people visited 108 major tourist attractions in South Korea during the 10-day Chuseok break, the country’s autumn harvest celebration, up 59.6 percent from 5.56 million tallied last year. This year, the holiday ran from Sept. [...]

President Moon Pledges Full Support for PyeongChang Paralympic Games

SEOUL, Oct. 17 (Korea Bizwire) – President Moon Jae-in promised all-out efforts Tuesday to help make the upcoming Winter Olympic Games and Paralympics in South Korea a success. The president’s remarks came in a meeting with Andrew Parsons, president of the International Paralympic Committee (IPC) at the presidential office Cheong Wa Dae. The new IPC chief arrived here Sunday for what he called a “mid-term” inspection of local venues for the [...]

Companies Advised to Benchmark Japan on Equal Pay for Equal Work Issue

SEOUL, Oct. 17 (Korea Bizwire) – Experts on Tuesday advised South Korean companies to benchmark their Japanese counterparts to help resolve the equal pay for equal work issue. In a seminar held in Seoul on the government’s wage policies and challenges, Lee Ji-man, a business administration professor at Yonsei University, argued the government needs to set up basic guidelines and arrange consultations among related parties to make the rule of equal pay into law. In December, the Japanese government offered the equal pay for equal work guidelines to businesses to get them to voluntarily [...]

FSS Chief Apologizes over Irregularities in Hiring

SEOUL, Oct. 17 (Korea Bizwire) – The chief of the Financial Supervisory Service (FSS) apologized Tuesday over the financial regulator’s alleged irregularities in hiring employees with ties to influential figures, including politicians and bankers. The FSS has been under fire after state auditors found last month that a senior FSS official gave a special favor to some job candidates who are relatives of a then lawmaker and a [...]

LG Head Donates 100 Million Won to Family of Slain Soldier

SEOUL, Oct. 17 (Korea Bizwire) – LG Group Chairman Koo Bon-moo on Tuesday donated 100 million won (US$88,355) to the family of a soldier who was recently killed in an accident while performing his military duty, the conglomerate said. Last month, a 22-year-old soldier surnamed Lee was hit in the head by a stray bullet [...]

South Koreans Frustrated Over Arbitrary Retail Regulations

SEOUL, Oct. 17 (Korea Bizwire) — Criticism of the government continues among South Korean consumers over arbitrary retail regulations that are causing inconvenience and discouraging local consumption despite their original intention of creating a business environment where both traditional markets and retail giants could coexist. With the rapid growth of supermarket giants, mandatory store closings [...]

North Korea’s AI Technology at Breaking Point, Report Says

SEOUL, Oct. 17 (Korea Bizwire) — A new report has claimed North Korea’s artificial intelligence technology has reached a breaking point as a result of the country’s poor economic standing and sanctions by the international community, despite having made ‘significant’ technological advances in the past. According to the report released by researcher Kim Min-gwan at [...]

Medical Surgery Video Uses Animation Character Pororo for Child Patients

SEOUL, Oct. 17 (Korea Bizwire) — Seoul National University Bundang Hospital has made a virtual reality video explaining a surgical procedure for child patients, as part of efforts to help children relax before going into the operating room. Professors Han Seong-hee and Yu Jung-hee at the department of anesthesiology and pain medicine at Seoul National [...]

U.S. Market Share of Hyundai and Kia Hits Eight-Year Low

SEOUL, Oct. 16 (Korea Bizwire) – The market share of Hyundai Motor Company and Kia Motors continues to plunge with no sign of recovery, with the figure hitting an eight-year low. The U.S. market share of the Hyundai Motor Group, which owns both Hyundai and Kia Motors, is at its lowest in eight years, placing the [...]

Weather-Based Business Insurance Program Under Development

SEOUL, Oct. 16 (Korea Bizwire) – A new insurance program designed to protect businesses vulnerable to adverse weather conditions is currently being developed by the South Korean insurance industry, according to industry sources. Sources close to the South Korean insurance sector on Monday said a special task force formed by the Korea Insurance Development Institute [...]