SEOUL, May 31 (Korea Bizwire) – LG MMA Co., an affiliate of South Korean conglomerate LG Group, said Wednesday it will spend some 130 billion won (US$116 million) to expand its facility in the country to meet growing demand for methylmethacrylate (MMA), used for various industrial materials. LG MMA, a joint venture with Japan’s Sumitomo [...]
SEOUL, May 31 (Korea Bizwire) – South Korean stocks closed higher on Wednesday to snap a two-day losing streak as institutional buyers scooped up medical and telecoms shares offsetting a massive selling spree by foreigners following overnight Wall Street losses, analysts said. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock [...]
SEOUL, May 31 (Korea Bizwire) – South Korea’s central bank should maintain the current monetary easing policy to support growth, a member of the Bank of Korea’s (BOK) monetary policy board said Wednesday. Koh Seung-beom made the case during a luncheon meeting with reporters at the BOK headquarters in central Seoul, noting the recovery [...]
SEOUL, May 31 (Korea Bizwire) – The South Korean government is ramping up its efforts to tackle the problem of air pollution by subsidizing natural gas-powered buses for transport operators. In a cabinet meeting held yesterday, Deputy Prime Minister and Minister of Finance and Strategy Yoo Il-ho reviewed and took a vote on a new reform [...]
SEOUL, May 31 (Korea Bizwire) – A select group of taxi drivers in Seoul are getting a taste of a new advanced driver assistance system (ADAS) as part of the Seoul Metropolitan Government’s efforts to gather data that can be used to develop an accident prevention system which could warn drivers ahead of time in the [...]
SEJONG, May 31 (Korea Bizwire) – South Korea should convince China to accept the ongoing deployment of an advanced U.S. missile defense shield on its soil instead of trying to reverse the move, which could send the wrong signals to both Washington and Beijing, a scholar has said. The installation of a Terminal High Altitude [...]
SEOUL, May 31 (Korea Bizwire) – French carmaker Renault S.A. is considering launching the Zoe electric vehicle (EV) in South Korea in 2019 on improving charging infrastructure and government subsidies, the company’s chief executive said Wednesday. “We are considering introducing the next-generation Zoe electric car in the South Korean market in 2019, but we need [...]
SEOUL, May 31 (Korea Bizwire) – Urban forests are thought to be one of the most effective tools to tackle fine dust, as a new report has revealed neighborhoods surrounding parks and mountains can experience reductions in airborne fine dust of up to 40 percent compared to other areas. According to statistics published by the National [...]
SEOUL, May 31 (Korea Bizwire) – Seoul’s efforts to reduce energy consumption have come to fruition, as the city’s efficient energy use policy saw the energy equivalent of one and a half nuclear power plants saved in recent years. Between 2012, when the Seoul Metropolitan Government first launched its energy saving project, and June 2014, nearly [...]
SEOUL, May 30 (Korea Bizwire) – Despite a number of controversies surrounding the CEO of Zara Korea, high clothing prices, and little to no social contributions, soaring sales of the Spanish fashion brand in South Korea show no sign of peaking soon, with the chairman the of the company’s local partner LOTTE awarded a royal [...]