SEOUL, May 26 (Korea Bizwire) – Starting a new business in South Korea requires an average 200 million won (US$178,491) in starting money, and it takes about four years to break even, a stage that more than 60 percent of the startups don’t reach because they are forced to close before then, a report said [...]
SEOUL, May 26 (Korea Bizwire) – State-run Korea Electric Power Corp. (KEPCO) said Thursday it has joined forces with General Electric for co-investment in the development of next-generation electric power facilities. The South Korean utility firm and the U.S. aviation and energy conglomerate held an opening ceremony of its joint office in Naju, some 399 [...]
GOYANG, South Korea, May 26 (Korea Bizwire) – South Korean carmaker Hyundai Motor Co. said Thursday it will launch an all-electric bus in the domestic market next year. The move is part of the carmaker’s efforts to diversify its lineup with environmentally friendly vehicles and enhance its brand image in global markets where clean modes [...]
SEOUL, May 26 (Korea Bizwire) – Lotte’s new beer brand has stirred debate with some claiming it copied the name of a chewing gum sold by the conglomerate’s Japan unit, industry sources said Thursday. The controversy is seen as throwing cold water on the launch of the product that targets the low to mid-end market. [...]
SEOUL, May 25 (Korea Bizwire) – Researchers at the Rural Development Administration have discovered that acacia honey can inhibit the growth of helicobacter pylori, bacteria associated with a number of disorders of the upper gastrointestinal tract, including stomach ulcers, gastritis, and even stomach cancer. Acacia honey, produced from false acacia trees or black locust flowers, [...]
PAJU, South Korea, May 25 (Korea Bizwire) – Imjingak, a park located seven kilometers south of the Demilitarized Zone that divides the Korean Peninsula, is on its way to becoming a global military and ecology tourism destination, said local governments on Wednesday. According to Gyeonggi Province and Paju city officials, several construction projects are underway [...]
GOYANG, South Korea, May 25 (Korea Bizwire) – KINTEX, the Korea International Exhibition & Convention Center in Goyang, is simultaneously hosting the Korea International Boat Show 2017 and the 2017 PlayX4, a videogame expo, from May 25 to 28. KIBS 2017 marks its 10th anniversary this year, and will feature the wares of 261 businesses [...]
SEOUL, May 25 (Korea Bizwire) – South Korean animal rights group Care is challenging the 98th article of the Civil Code, which designates animals as “things,” and has asked the Constitutional Court of Korea to adjudicate its constitutionality. The code legally defines “things” as “corporeal things, electricity, and other natural forces which can be managed,” [...]
SEJONG, May 25 (Korea Bizwire) – South Korea’s income disparity widened significantly last year despite the government’s efforts to narrow the gap between the rich and poor, government data showed Thursday. The Gini coefficient of total income of an average household stood at 0.353 in 2016, up from the previous year’s 0.341, according to the [...]
SEOUL, May 25 (Korea Bizwire) – Online shopping malls are fast losing customer traffic, industry data showed Thursday, compounding their massive business losses last year. According to the data, the number of unique visitors to the six top online shopping sites totaled 84.86 million last month. This is 9.2 percent less than the same month [...]