SEOUL, Jan. 23 (Korea Bizwire) – This, perhaps, best explains the South Korean corruption scandal. A recent study by the Center for Free Enterprise revealed that Korea’s “rent-seeking index” ranks 30th amongst 35 OECD member countries, indicating that the practice of disobeying the law in pursuit of special privileges is rampant in South Korean society. [...]
SEJONG, Jan. 23 (Korea Bizwire) – The number of unemployed people, when the definition is increased to include those who are studying or training to get a job, reached 4.53 million last year, state statistics showed Monday. While the official number of unemployed last year was 1.01 million, the “real” number that counts these people [...]
SEOUL, Jan. 23 (Korea Bizwire) – The keyword for the Korea Tourism Organization’s 2017 business plan is “diversification.” In an official announcement Monday, the KTO said it will be targeting tourists from Southeast Asia, Europe and the Americas to stray away from its high dependency on Chinese tourists, while offering more tourism content outside of [...]
SEJONG, Jan. 23 (Korea Bizwire) – More than half of South Koreans have bought lottery tickets at least once last year amid the deepening economic slump, a survey showed Monday. According to the survey of 1,000 people by the finance ministry in November last year, 55.9 percent said they have made a lottery ticket purchase [...]
SEOUL, Jan. 23 (Korea Bizwire) – New types of cyberattacks linked to Internet of Things (IoT) devices against key government agencies and social infrastructure-related facilities are likely to increase this year, a report showed Monday. According to the report by the state-run Korea Internet & Security Agency (KISA), a series of so-called distributed denial of [...]
SEOUL, Jan. 23 (Korea Bizwire) – “Thinner” and “lighter” have long been the mantra for laptop manufacturers. The focus is now shifting to battery power in Korea, with two of the country’s largest laptop makers – Samsung Electronics and LG Electronics – highlighting the battery capacity of their latest computers. Samsung added last month a [...]
SEOUL, Jan. 23 (Korea Bizwire) – Most can only dream of being issued an American Express Centurion Card, better known as the Amex “Black Card.” Korean credit card companies also offer similar cards for high net worth individuals, with expensive annual fees and high minimum spending requirements offset by a host of exclusive benefits. In [...]
SEOUL, Jan. 23 (Korea Bizwire) – According to the latest data from the German Association of the Automotive Industry (VDA) and the Korea Automobile Importers and Distributors Association, Korean automakers sold 171,147 units in Germany last year, up 2.8 percent compared to 2015 (166,563). Although Hyundai Motor Company saw its sales drop by 1.1 percent [...]
SEOUL, Jan. 23 (Korea Bizwire) – South Korea is pushing to revise its national health insurance program to halve the fees for low income earners in an effort to make health care more affordable, officials said Monday. The Ministry of Health and Welfare released a revision to the national health insurance system, subject to parliamentary [...]
SEOUL, Jan. 23 (Korea Bizwire) – Samsung Electronics Co. said Monday its monthslong probe into what caused some Galaxy Note 7 smartphones to catch fire has established that faulty batteries were the main problem, not the smartphone’s hardware design or software. “Our investigation, as well as investigations completed by three independent industry organizations, concluded that [...]