SEOUL, Mar. 20 (Korea Bizwire) — A prolonged shortage of aspirin is expected to continue for the foreseeable future in South Korea, as Bayer Korea has confirmed it could be later this year at the earliest before the tablet drug hits the shelves again. Plans to resume the sale of Bayer’s 500-milligram aspirin tablets this month [...]
SEOUL, Mar. 20 (Korea Bizwire) — Financial authorities will ease Fintech restrictions following criticism that South Korea has the most restrictive information protection policies in Asia. According to the Financial Services Commission on Monday, an opt-out policy will be introduced in the financial information sector to allow companies to collect data and improve data security for [...]
SEOUL, Mar. 19 (Korea Bizwire) — Winning a medal is a pretty big deal for most athletes. But it means a whole lot more for those in South Korea, where it can land them an exemption from serving in the military. In South Korea, every man aged between 18 and 35 faces conscription into the armed [...]
SEOUL, March 19 (Korea Bizwire) – A group of South Korean scientists have developed a minimally invasive technology to diagnose and treat cancer by using light-emitting diodes (LEDs) and laparoscopy, the state-run institute said Monday. The Korea Electrotechnology Research Institute (KERI) said it has developed a technology that can target tumor cells and it is in the process of transferring [...]
SEOUL, March 19 (Korea Bizwire) – The local unit of WeWork, a U.S.-based provider of shared workspace, said Monday it has started accepting award entries for people or businesses with innovative ideas in South Korea that wish to expand their work to the global market. Any individual or business can apply for the Seoul Creator Awards, starting Monday through till Aug. 7, according to WeWork Korea. Winners of [...]
SEOUL, March 19 (Korea Bizwire) – Shares of Hyundai Motor Co. and its affiliate Kia Motors Corp. plunged Monday as the U.S. probe into airbag-related accidents raised worries over potential recall costs for the carmakers. The U.S. National Highway Traffic Safety Administration (NHTSA) and Hyundai Motor Group are jointly looking into why the two carmakers’ airbags failed to deploy in Hyundai Sonata sedans and some Kia Forte compacts that [...]
SEOUL, March 19 (Korea Bizwire) – Prosecutors on Monday sought an arrest warrant for former President Lee Myung-bak accused of bribery and other charges. Lee, president from 2008-2013, is suspected of taking about 11 billion won (US$10.3 million) in bribes from the state intelligence agency, businesses and others. He’s also accused of embezzlement and abuse of power. If the warrant is issued, [...]
SEOUL, March 19 (Korea Bizwire) — GWANGJU, March 19 (Yonhap) — Unionized workers of Kumho Tire Co. vowed Monday to stage strikes this week as 1,500 white collar employees expressed their support for a plan by creditors to sell the debt-ridden company to a Chinese firm. The move laid bare the growing divisions in South Korea’s second-largest tiremaker over how to resolve the current difficulties stemming from [...]
SEOUL, Mar. 19 (Korea Bizwire) — Young moviegoers in South Korea are opting for movies that center around everyday life over Hollywood blockbusters, as a growing emphasis on finding small pleasures in life sweeps across younger generations. American film ‘Paterson’, which documents the ups and downs in the daily life of a young man named Paterson [...]
PYEONGYANG, Mar. 19 (Korea Bizwire) — Just like in Seoul, a bike sharing service is the hottest trend in Pyeongyang. According to the Choson Sinbo, a North Korean newspaper, a bike sharing service is currently being trialed in the North Korean capital, with a total of five rental stations in operation on Kwangbok Street. Another local [...]