SEOUL, Sept. 28 (Korea Bizwire) – New statistics have revealed that the population in Seoul continues to decrease, though at a slow pace. The data from Statistics Korea released on Wednesday showed the population of the South Korean capital has experienced a steady drop over the last eight years since 2009, with 8,991 people moving out [...]
SEOUL, Sept. 27 (Korea Bizwire) – A new report has claimed shopping centers could push out local commercial districts and drive down the gross regional product of neighborhoods. Findings from the new study by researcher Jung Soo-jung at the Korea Small Business Institute (KOSBI) released on Wednesday show that large-scale shopping centers often thought to boost [...]
SEOUL, Sept. 27 (Korea Bizwire) – International consumer goods giant Unilever has agreed to acquire South Korean cosmetics firm Carver Korea for around three trillion won, marking the largest merger and acquisition deal in the South Korean cosmetics industry to date. According to industry sources and the international media on Monday, Unilever Global is set to [...]
SEOUL, Sept. 27 (Korea Bizwire) — From a water bottle, a pair of glasses, to a watch, hidden cameras that enable criminal voyeurism now come in all shapes and forms, threatening the safety of victims, who are mostly women in South Korea. South Korea has been at war with criminal voyeurism for years, as hidden camera [...]
SEOUL, Sept. 27 (Korea Bizwire) – Hyundai Motor Group has opened a big data center in China in a move to expand into one of the world’s largest automobile markets, the conglomerate said Tuesday. The first overseas data center in Guizhou Province began operations to pursue projects to develop localized connected car services for Chinese [...]
SEJONG, Sept. 26 (Korea Bizwire) – South Korea’s antitrust watchdog said Tuesday that it has slapped a combined 1.78 billion-won (US$1.57 million) fine on Mercedes-Benz Korea and its dealerships for fixing labor costs for auto repairs. Mercedes-Benz Korea, the local unit and importer of German carmaker Daimler AG, allegedly suggested to eight dealerships fixing [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Heavy Industries Co, a major South Korean shipyard, said Tuesday that it has clinched a 1.1 billion-won (US$968 million) deal to build six container vessels. In a regulatory filing, Samsung Heavy said it would deliver the vessels by the end of 2019. The shipyard did not reveal the [...]
SEOUL, Sept. 26 (Korea Bizwire) – A South Korean duty-free store will shut down this week amid a sharp drop in the number of Chinese tourists following a diplomatic row over the deployment of a U.S. missile defense system here, officials said Tuesday. Hana B&D, located at the Pyeongtaek port, some 70 kilometers south of [...]
SEOUL, Sept. 26 (Korea Bizwire) — South Korea’s plan to install a memorial monument for women sexually enslaved by the imperial Japanese army during World War II does not run counter to the country’s 2015 agreement signed with Japan to settle the wartime atrocity issue, the foreign ministry said Tuesday. The stance came in response [...]
SEOUL, Sept. 26 (Korea Bizwire) – The South Korean defense industry has been found to contribute little to creating job opportunities despite accounting for 10 percent of government spending, a new report has claimed. According to the new report by the Korea Institute for Industrial Economics & Trade released on Sunday, despite receiving 10 percent of [...]