SEOUL, Jul. 26 (Korea Bizwire) — The South Korean government has criminalized the sale and use of nitrous oxide for the purpose of hallucination, bringing an end to the so-called ‘Happy Balloons’ that have become popular among young Koreans. A new toxic chemicals law amendment was passed after a National Assembly vote, establishing legal grounds to [...]
SEJONG, July 26 (Korea Bizwire) – South Korea’s ratio of tax burden to its gross domestic product (GDP) will likely reach fresh record highs this year and next on a potential tax hike and rapidly rising government spending, government data showed Wednesday. According to the finance ministry, the government is expected to collect more than 250 trillion won (US$223 [...]
SEJONG, July 26 (Korea Bizwire) – The number of newborn babies in South Korea plunged at a double-digit rate for the sixth straight month in May despite yearslong efforts to boost the country’s low birthrate, a government report showed Wednesday. About 30,300 babies were born in May, down 11.9 percent, or 4,100, from 34,400 tallied [...]
SEOUL, July 26 (Korea Bizwire) – Samsung Electronics Co.’s share of the Chinese smartphone market for the second quarter is estimated at 3 percent, data showed Wednesday, remaining in doldrums as Chinese rivals continued to roll out price-competitive models. According to the data compiled by Counterpoint Research, Chinese smartphone makers took up 87 percent of [...]
SEOUL/NAMYANGJU, South Korea, July 25 (Korea Bizwire) – A 150-kilometer, two-and-a-half hour drive proved that Kia Motors Corp.’s Stonic subcompact sport utility vehicle is perfect for people wanting an entry-level fuel-efficient crossover that is responsive to drive. In a mix of urban and expressway driving that took place from western Seoul to Namyangju in Gyeonggi [...]
SEOUL, July 25 (Korea Bizwire) – Reports of the death of Kang Hoon, the CEO of KH Company that owns coffeehouse chain Mango Six, have sent a shockwave through the South Korean franchise industry, as the obstacles the young businessman faced in his final days paint a much more vivid picture of the problems in [...]
SEOUL, Jul. 25 (Korea Bizwire) — South Korean breweries have been on a roll as of late, surpassing sales of imported beers after steady growth over the past three months, according to one of the biggest supermarket chains in the country. HomePlus said on Monday sales of domestically brewed beers accounted for over 50 percent [...]
SEOUL, July 25 (Korea Bizwire) – The Seoul Metropolitan Government has revealed plans for an update to its parking space availability service, which will expand its scope to cover scores of privately owned parking lots across the city through the mobile app scheduled to be released later this year. According to Seoul government officials on Monday, [...]
SEOUL, July 25 (Korea Bizwire) – A new Cosmetics Act amendment allowing cosmetics companies to repackage and sell imported products in small quantities has been passed by the State Council, the Ministry of Food and Drug Safety said on Tuesday. According to the MFDS, the government agency in charge of protecting public health and ensuring the [...]
SEOUL, July 25 (Korea Bizwire) – South Korea’s foreign ministry said that it is making preparations to launch a task force to review a controversial deal reached in 2015 with Japan to address a long-standing rift between the neighbors over Tokyo’s wartime sexual slavery of Korean women. “(We) are in the middle of preparations for [...]