SEOUL, June 16 (Korea Bizwire) – South Korean carsharing provider Socar’s number of vehicles has exceeded 7,000 for the first time in the industry, the company said yesterday. When Socar launched its service in 2012, the company only had 100 vehicles. From then, the number increased to 400 in 2013, then 1,800 in 2014. After [...]
SEOUL, June 16 (Korea Bizwire) – Daewoo Engineering & Construction Co. inked an initial agreement with a Laotian partner to win infrastructure projects in the Southeast Asian country, the builder said Friday. On Thursday in Vientiane, Daewoo Engineering signed a memorandum of understanding (MOU) with Petroleum Trading Lao Public Co. (PTL) to build hydroelectric power [...]
SEOUL, June 16 (Korea Bizwire) – South Korea’s won currency is likely to remain steady for the time being, despite U.S. Federal Reserve’s move to tighten its monetary policy, analysts here said Friday. The won has risen 6.9 percent against the U.S. dollar so far this year, and the local currency market showed a muted [...]
SEOUL, June 16 (Korea Bizwire) – Lotte Duty Free, South Korea’s top duty-free operator, said it opened an outlet in central Bangkok on Friday, making its first foray into the key Southeast Asian market. The shop, located inside entertainment and retail complex Show DC, is only partially operational at the moment, with the grand opening [...]
SEJONG, June 16 (Korea Bizwire) – South Korea’s capital city of Seoul will face the steepest decrease in population over the next 30 years amid the country’s chronic low birth rate and rapid aging, government data showed Thursday. The number of residents in Seoul is predicted to reach 8.81 million in 2045, down 1.13 million, [...]
SEOUL, June 16 (Korea Bizwire) – The property value of South Korean homes has risen sharply in recent years, data showed Thursday, amid the previous government’s policy to prop up the country’s housing market. The value of homes in the country stood at over 3,732 trillion won (US$3.32 trillion) as of late last year, up [...]
SEOUL, Jun. 15 (Korea Bizwire) — Sales of electric cars in South Korea have grown sevenfold in the past year, as growing public interest is seeing more consumers trade in their gas-guzzlers to instead opt for more eco-friendly and energy-saving alternatives. According to data from the Ministry of Land, Infrastructure and Transport and the Korea Automobile [...]
SEOUL, Jun. 15 (Korea Bizwire) — Amid growing global interest in the safety and eco-friendly benefits offered by wood buildings, the Korea Forest Service is pitching the pros of wood building to the South Korean construction market, with plans to build a number of tall buildings using structural wood in the next five years. Speaking to [...]
SEOUL, Jun. 15 (Korea Bizwire) — South Korean web hosting site Nayana Communication has struck a deal with ransomeware hackers to pay over 1 billion won to bail the company out of its predicament after losing access to data that hackers encrypted. The South Korean web hosting provider released a statement yesterday, acknowledging a deal they [...]
SEOUL, Jun. 15 (Korea Bizwire) — A new report has revealed an increasing number of South Korean university students feel discouraged about their job prospects before graduating, with fewer students now having a plan set out for employment. According to the report released on Wednesday by the Korea Research Institute for Vocational Education and Training [...]