SEOUL, March 21 (Korea Bizwire) — South Koreans now have limited options at the cinema with only a few blockbuster films dominating the big screen. Touted by major movie theater chains, large-budget films from major film studios have been carrying water for the industry, bringing millions of people to the cinema, and coining the term ’10 [...]
SEOUL, March 21 (Korea Bizwire) — Electric bicycles will be allowed to run on cycle lanes across South Korea starting this Thursday. With new bicycle laws entering into effect tomorrow, pedal-assist electric bicycles will be categorized as regular bicycles and be given the right of way on bike paths if they meet a number of requirements, [...]
SEOUL, March 21 (Korea Bizwire) — An inside look at a revamped Hyundai Solati that will carry SM Entertainment artists has been unveiled. Hyundai Motor has released first look pictures of the SOLATI Moving Hotel, as part of its collaboration with SM Entertainment on Wednesday. Based on the Solati Limousine model, the hotel-themed concept car has [...]
SEOUL, March 21 (Korea Bizwire) – South Korea and the United States will stage an annual joint air combat exercise in Korea after the Foal Eagle field training in April, a defense official said Wednesday. The Max Thunder drill will be held for two weeks from May 11, involving more than 100 Air Force jets of the allies. “It will take place this [...]
SEOUL, March 21 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., on Wednesday offered a revised wage package to its workers that was not well-received by the union. “The company’s revised offers are not worthy of comment. We outlined our demands to the company yesterday, but management didn’t even [...]
SEOUL, March 21 (Korea Bizwire) – Lee Hee-beom, the president of the PyeongChang 2018 organizing committee, said Wednesday he thinks there were four things that made the Olympic and Paralympic Games successful. The 23rd Winter Olympics were held between Feb. 9 and 25, while the 12th Winter Paralympics were staged between March 9 and 18 in PyeongChang, Gangwon Province. “International Olympic Committee chief Thomas [...]
SEOUL, March 21 (Korea Bizwire) – The number of fake real estate transaction filings more than doubled in 2017 from the previous year as more people tried to evade taxes amid a real estate boom in Seoul and its adjacent cities, government data showed Wednesday. As many as 772 false reports were submitted last year to lower the price of real estate transactions, up [...]
SEJONG, March 21 (Korea Bizwire) – The number of South Koreans getting married fell to the lowest level in 2017, government data showed Wednesday, as young people delay marriage amid a prolonged economic slowdown. The number of people tying the knot came to 264,500 in 2017, down 6.1 percent, or 17,200, from a year earlier, [...]
SEOUL, Mar. 21 (Korea Bizwire) — The government has announced a series of reforms to boost the South Korean financial technology industry, which could see brand new products including artificial intelligence-based insurance products introduced. The plans revealed by the Financial Services Commission (FSC) on Tuesday revealed a number of new financial products, including insurance products based [...]
SEOUL, March 21 (Korea Bizwire) — The Seoul Metropolitan Government will launch a joint monitoring system to encourage local communities to help lonely people living alone. City officials announced a number of comprehensive protective measures against so called ‘lonely death’ on Tuesday, including plans to bring communities closer and introduce personalized support for public services and [...]