SEOUL, July 25 (Korea Bizwire) – South Korea’s LG Display Co. said Tuesday it will invest 7.8 trillion won (US$6.9 billion) to build facilities for the production of organic light-emitting diode (OLED) panels. The display maker said in the regulatory filing that the investment will be aimed at producing various sizes of OLED panels for [...]
SEOUL, July 25 (Korea Bizwire) – The founder of a local pizza franchise will face trial on charges of embezzlement and breach of trust worth 15 billion won (US$13.4 million), prosecutors said Tuesday. The Seoul Central District Prosecutors’ Office has indicted Chung Woo-hyun, ex-head of MP Group, for misappropriating company funds, breach of duty and [...]
SEOUL, July 25 (Korea Bizwire) – CJ Cheiljedang Corp., South Korea’s leading processed foods maker, said Tuesday it will spend 70 billion won (US$63 million) on building a new production complex in Vietnam to expand its presence in the Southeast Asian market. The Korean firm said it held a groundbreaking ceremony Monday for the 66,000 [...]
SEOUL, Jul. 25 (Korea Bizwire) — Since the announcement last week of a 16.5 percent hike to the minimum wage that was met with cheers and praise, some South Koreans are now expressing worries over possible job cuts in the wake of the increase, according to a big data analyst. Despite the highest wage hike in [...]
SEOUL, Jul. 25 (Korea Bizwire) — As artificial intelligence-based medical diagnosis systems such as IBM’s Watson for Oncology are being increasingly adopted in the medical industry, a South Korean research team has announced plans to develop its own diagnosis system for Oriental medicine. The research team, led by professor of Korean Medicine Kwon Yeong-gyu at Pusan [...]
SEOUL, Jul. 25 (Korea Bizwire) — LPG-powered recreational vehicles with a seating capacity of five or below might be released for general sale in South Korea after years of being banned in the retail market, with the government looking for ways to tackle the issue of fine dust emissions. According to the Ministry of Trade, Industry [...]
BORYEONG, South Korea, July 25 (Korea Bizwire) – South Korea’s coastal city of Boryeong has signed a contract to export its famous mud to Rotorua in New Zealand’s North Island, a city official said Monday. Boryeong Mayor Kim Dong-il and Rotorua Mayor Steve Chadwick signed the contract on Saturday, under which the South Korean city will export 5 tons of mud powder worth [...]
SEOUL, Jul. 24 (Korea Bizwire) — Seoul Metro is using renewable energy sources to operate its air-conditioning systems in a pilot project at a number of subway stations, the public corporation announced last Friday. Following the trial of a solar-powered air-conditioning system at Dobongsan Station last month, the government-owned transport corporation is set to introduce a [...]
SEOUL, Jul. 24 (Korea Bizwire) — The Seoul Metropolitan Government announced plans on Sunday to launch a campaign to tackle harmful drinking culture, a prevailing problem among South Korean businesses. As part of its efforts to combat excessive drinking during business socializing sessions known as ‘hoesik’, the Seoul government is distributing simple guidelines outlining seven useful [...]
SEOUL, Jul. 24 (Korea Bizwire) — Local residents in the neighborhood of Mangwon are expressing concerns over the widely spread nickname ‘Mangridan-gil’ as signs of gentrification have emerged in recent months, with some accusing map service providers like Naver of causing a nuisance by making use of the unofficial name, which attracts tourists and has [...]