INCHEON, Jan. 25 (Korea Bizwire) – This year’s Korean Lunar New Year falls on January 28. Although the official holiday begins on Friday for a four-day weekend until Monday next week, Incheon International Airport, South Korea’s main air travel hub, is already booming with departing travelers. The airport expects roughly 416,700 individuals to depart from [...]
SEOUL, Jan. 25 (Korea Bizwire) – Choi Soon-sil, the “female Rasputin” to President Park Geun-hye, who is facing an impeachment trial, screamed “injustice” as she entered the office building of the special investigation team for questioning in a rare public display of confidence. Choi has remained quiet at most of her public appearances, often with [...]
CHEONGJU, South Korea, Jan. 25 (Korea Bizwire) – The Korean Lunar New Year holiday starts Friday, and it usually means good news for children and young adults who visit their grandparents, aunts, and uncles for a bow in exchange for “lucky money”, cash gifts handed out as a token for a fruitful New Year. A [...]
SEJONG, Jan. 25 (Korea Bizwire) – South Korea’s customs agency said Wednesday that it has caught illegal imports in 89,336 cases in 2016, up 8 percent from a year earlier. The Korea Customs Service said it seized imports of foods that contain harmful substances in 9,033 cases, up 315 percent from 2,867 cases in 2015. [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor Co. suffered a huge setback in its profit in the fourth quarter of last year, the company said Wednesday. Net profit came to 1.07 trillion won (US$918.5 million) in the three months ended Dec. 31, down 30.1 percent from the same period in [...]
SEJONG, Jan. 25 (Korea Bizwire) – The volume of cargo processed at South Korea’s seaports reached a record high last year despite a global economic slump and the collapse of the country’s leading shipper, the government said Wednesday. Cargo handled at seaports across the nation totaled 1.5 billion tons in 2016, up 2.7 percent from [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s top court on Wednesday sentenced a U.S. citizen to 20 years in prison for murdering a South Korean college student in 1997. The Supreme Court upheld a lower court’s conviction of Arthur Patterson, 37, accused of stabbing Cho Joong-pil, a college student, multiple times at a Burger [...]
SEJONG, Jan. 25 (Korea Bizwire) – South Korea will accelerate its corporate restructuring drive in shaky industries like shipbuilding and steelmaking in 2017 in a bid to gain a foothold for the future industrial revolution, the government said Wednesday. At a ministerial-level meeting in Seoul chaired by Finance Minister Yoo Il-ho, the government reviewed action [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korean companies tend to work with the same accounting firm for a long period of time, an analysis showed Wednesday, a practice partly blamed for corroborated cover-ups of financial troubles that later blow up in damaging losses for lenders and investors. The analysis by corporate watcher CEO Score [...]
SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s auto exports to the United States fell for the first time in seven years last year amid concerns that the Trump administration may take protectionist measures on vehicle imports, industry data showed Wednesday. According to the data compiled by the Korea Automobile Manufacturers Association, automakers here shipped [...]