SEOUL, Jan. 23 (Korea Bizwire) – Hyundai Heavy Industries Co. and its two local rivals — Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. — are estimated to have recovered last year from their worst-ever performance the previous year, industry sources said Monday. But their improved earnings may have come from their [...]
SEOUL, Jan. 23 (Korea Bizwire) – South Korea’s Big Mac index moved down two notches from six months earlier to the 25th spot, the global index showed Monday, indicating the South Korean won may be more undervalued than it was before. The average price of a Big Mac hamburger came to US$3.68 in South Korea [...]
SEOUL, Jan. 23 (Korea Bizwire) – Ssangyong Motor Co., the local unit of Indian carmaker Mahindra & Mahindra Ltd., is believed to have posted an operating profit in 2015 for the first time in nearly a decade, market observers noted Monday. The observers estimated the company’s operating profit at 50 billion won (US$42.5 million) last [...]
SEOUL, Jan. 20 (Korea Bizwire) – South Korea boasts among the world’s highest college entrance and completion rates. In 2014, 45 percent of Koreans aged 25 to 64 had completed tertiary education, ranking sixth amongst OECD countries. The college entrance rate is at about 68 percent. Of course, education doesn’t come cheap. Average annual tuition [...]
SEOUL, Jan. 20 (Korea Bizwire) – The initial reports of a suspected bird flu virus came from two farms, one in Gimje County and another in Eumseong County, on November 16. Just two months later, South Korea had culled over 32 million poultry across the country, making the latest outbreak one of the worst crisis [...]
SEOUL, Jan. 20 (Korea Bizwire) – KT&G, the leading tobacco company in Korea, has just released a press release boasting of its 2016 overseas cigarette sales, quickly drawing criticism given the fact that a large portion of the earnings were from less developed countries. According to company data, KT&G saw overseas sales increase by 4.7 [...]
SEJONG, Jan. 20 (Korea Bizwire) – South Korea is set to impose anti-dumping duties on Chinese-made aluminum plates for offset printing, the trade commission here said Friday, amid rising trade tensions between the two countries. After a preliminary examination, the Korea Trade Commission (KTC) said it will recommend the finance ministry levy punitive duties of [...]
SEOUL, Jan. 20 (Korea Bizwire) – Small but fully equipped and furnished rooms will begin accommodating passengers at South Korea’s Incheon International Airport, providing a private and comfortable place to rest at the bustling airport, the transportation ministry said Friday. The new capsule hotel opened Friday with 30 container-size rooms on each side of the [...]
SEOUL, Jan. 20 (Korea Bizwire) – Worries are growing that South Korean classical music might fall victim to the on-going diplomatic feud between Seoul and Beijing over a new anti-missile system called THAAD. According to the classical music industry Friday, the Chinese government has delayed issuing a visa to soprano Sumi Jo, without sufficient explanation. [...]
SEOUL, Jan. 20 (Korea Bizwire) – China has banned imports of South Korean air purifiers, industry sources said Friday, amid growing concerns Beijing is retaliating against Seoul’s move to install an advanced U.S. missile defense system. Air purifiers made by LG Electronics Inc., Shinil Co. and two other South Korean firms were listed as disqualified [...]