SEOUL, Jan. 15 (Korea Bizwire) — South Korean game makers Nexon and Netmarble posted record-breaking annual sales figure of over 2 trillion won last year, confirming the steady growth of the country’s video game industry. According to sources close to the stock market on Sunday, the sales figures of the two leading South Korean game companies [...]
SEOUL, Jan. 13 (Korea Bizwire) – The story of an ambulance driver facing prosecution after a car accident last week caused uproar in South Korea. The private ambulance carrying a two-month-old infant ran a red light, according to police, before colliding with an SUV while traveling from one hospital in North Chungcheong Province to another in [...]
SEOUL, Jan. 12 (Korea Bizwire) – Caffe Bene, a local coffee franchise, filed for a court-led restructuring scheme on Friday after suffering from a protracted slump and mounting losses, the company said. Launched in 2008, Caffe Bene expanded to become one of the country’s largest coffee franchises, opening more than 1,000 stores in five years, [...]
SEOUL, Jan. 12 (Korea Bizwire) – The number of regulatory measures enacted against South Korean exports is on the rise, menacing the lifeblood of the South Korean economy. According to the Ministry of Foreign Affairs on Friday, regulatory measures such as antidumping tariffs, countervailing duties and safeguards imposed on South Korea exports increased to 189 [...]
SEOUL, Jan. 12 (Korea Bizwire) – The government’s move to regulate cryptocurrency trades could hurt the blockchain industry, experts have warned. According to industry sources on Friday, blockchain businesses are expressing concerns over the impact of cryptocurrency regulations, despite the government’s assurance that it would support the latest technology. “The growing number of cryptocurrency transactions [...]
GANGNEUNG, Jan. 12 (Korea Bizwire) – With North Korea expected to send a delegation of athletes and high-ranking officials to the PyeongChang Winter Olympics, the city of Gangneung has stepped up to offer free accommodations. Choi Myeong-hee, the mayor of Gangneung, said during a briefing on Thursday that the city is willing to provide lodging [...]
SEOUL, Jan. 12 (Korea Bizwire) – South Korean star actor Lee Dong-wook on Friday was named an honorary ambassador for the 2018 PyeongChang Winter Olympics that will kick off next month. In a ceremony held in Seoul, Lee joined a slew of other Korean wave stars including actors Lee Min-ho and Kim Woo-bin as the [...]
SEOUL, Jan. 12 (Korea Bizwire) – The number of agricultural corporations has nearly quadrupled over the past decade, government data showed Friday, as South Korean farmers have been struggling to cope with an influx of agricultural products from overseas. The figure was 19,413 as of the end of 2016, up from 5,307 in 2006, according [...]
JEJU ISLAND/SEOUL, Jan. 12 (Korea Bizwire) – The airport on the country’s resort island of Jeju resumed operations and began transporting over 7,000 passengers who have been stranded after a series of shutdowns caused by heavy snowfall the previous day, the government said. The first flight bound for Gimpo, in western Seoul, took off from [...]
SEOUL, Jan. 12 (Korea Bizwire) – Dated septic tanks in Seoul might be on the way out, with their removal being considered by local officials following criticism over foul smells. The Seoul government announced plans for a major urban overhaul on Wednesday, which could see aging foul-smelling septic tanks around the city disposed of. Seoul [...]