SEOUL, Nov. 30 (Korea Bizwire) – GM Korea Co. chief Kaher Kazem vowed Thursday to make every effort to turn the company around, saying its losses over the past two years are not acceptable. In a meeting with Seoul-based journalists, GM Korea Chief Executive Kaher Kazem said the carmaker posted a whopping 2 trillion won (US$1.8 billion) in total losses for the three years through 2016. Kazem [...]
ULSAN, South Korea, Nov. 30 (Korea Bizwire) – Unionized workers at Hyundai Motor Co. decided Thursday to stage a partial strike next week as talks over a wage deal with the company hit a snag. Union members of South Korea’s largest automaker said they plan to hold a two- to three-hour strike at major production lines for four consecutive days from Dec. 5 as they and [...]
SEOUL, Nov. 30 (Korea Bizwire) – Korea Post is toying with the idea of replacing motorcycles with one-person electric cars as part of efforts to tackle the prevalent issue of ‘overwork death’ among postal workers. According to Kang Seong-joo, the newly-elected director of the headquarters of Korea Post on Thursday, the introduction of single-seater electric cars [...]
SEOUL, Nov. 30 (Korea Bizwire) – The Blue House welcomed Sri Lankan President Maithripala Sirisena, who is on a state visit to South Korea, with a vegetarian state dinner on Wednesday, catering to the Southeast Asian leader’s Buddhist beliefs. It was reported that the Blue House carefully selected vegetarian dishes for the state dinner yesterday between [...]
SEOUL, Nov. 30 (Korea Bizwire) – A new report has revealed that South Korean electric car owners find charging their car’s battery stressful, mainly due to the lack of charging stations in the country. Consumers were most concerned with the driving range of electric vehicles before making a purchase, while range anxiety and having to charge [...]
SEOUL, Nov. 30 (Korea Bizwire) – A new water recycling system that purifies rainwater and wastewater to provide bathroom water has been installed at a dormitory at Seoul National University. According to the College of Engineering at SNU on Wednesday, the water recycling system collects rainwater from the roof of the dormitory building, which is then [...]
SEOUL, Nov. 30 (Korea Bizwire) – A new survey has revealed that the South Korean construction industry will continue to suffer from labor shortages next year without foreign workers. Findings from the survey conducted by the Construction Workers Mutual Aid Association show that the construction industry will need around 1.61 million workers next year. However, the [...]
SEOUL, Nov. 30 (Korea Bizwire) – South Korean researchers have argued that up to 16 trillion won could be saved if half of South Korea’s imports of mineral resources could be replaced by those from North Korea. Hong Soong-jik, a member of Kookmin University’s Korea Institute of Future, said at a forum on Wednesday that North [...]
SEOUL, Nov. 30 (Korea Bizwire) – The government will reimburse debts for nearly 1.6 million people to give a second chance to those haven’t been able to escape the debt trap for over a decade. According to the Financial Services Commission (FSC) on Wednesday, up to 6.2 trillion won will go towards the principal balance of [...]
SEOUL, Nov. 29 (Korea Bizwire) – South Korean farmers will be able to export pears to Argentina starting next year, as the two nations have agreed on new quarantine protocols, the agriculture ministry said Wednesday. South Korea requested that Argentina give it access to its market for fresh pears in 1997, and the two sides agreed on quarantine standards and other issues last week, the [...]