SEJONG, Dec. 20 (Korea Bizwire) – South Korean household debt rose in 2016 from a year earlier as people borrowed money from banks and other financial companies to buy homes, and invest in real estate and businesses, government data showed Tuesday. The average household debt was tallied at 66.55 million won (US$56,000) as of end-March [...]
SEJONG, Dec. 20 (Korea Bizwire) – The popularity of “K-beauty” has officially found its place in the U.K. cosmetics market. POSCO DAEWOO, POSCO’s trading subsidiary, announced Tuesday that starting next year, Korean cosmetics brands Caolion Cosmetics and SKINFOOD will be featured at some 220 outlets and the online store of Boots, the largest pharmacy chain [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea is set to face record damage from the latest outbreak of avian influenza (AI) with more than 10 percent of all poultry here already slaughtered for infection or in preventive measures, a report suggested Tuesday. According to the Ministry of Agriculture, Food and Rural Affairs, over 19.9 [...]
SEOUL, Dec. 20 (Korea Bizwire) – Here’s good news for travelers flying through South Korea. Walkerhill Hotel announced Tuesday that it is opening Korea’s first “capsule hotel” on January 20 at Incheon International Airport – the nation’s hub for air travel. Dubbed “Darak Hyu”, the hotel should be of interest to the airport’s transfer passengers, [...]
SEOUL, Dec. 20 (Korea Bizwire) – Huawei’s ambitious launch of its premium smartphone, the P9, has so far reaped disappointing results in the South Korean market. The P9 and the P9 Plus, which were first launched in April, made their official entry here on December 2, only to face discouraging numbers, with roughly 100 of [...]
SEOUL, Dec. 20 (Korea Bizwire) – The special prosecution team looking into President Park Geun-hye’s corruption scandal has put a prohibition of departure on three Korean conglomerate heads, hampering business operations planned for the year-end and the next few months to come. According to sources, Samsung vice chairman Lee Jae-yong, SK chairman Chey Tae-won and [...]
SEOUL, Dec. 20 (Korea Bizwire) – Driving under the influence is both legally and morally irresponsible, unnecessarily putting at risk the lives of innocent bystanders. Unfortunately, a significant number of Koreans still fail to recognize the dangers of drunk driving, and the lukewarm legal punishment of DUI offenders, even when there are fatalities, is seemingly [...]
SEOUL, Dec. 20 (Korea Bizwire) – The survival rate of South Korean cancer patients topped 70 percent in 2014 and the total number of people newly diagnosed and being treated for the disease dropped over the past three years, government data showed Tuesday. The rate of people diagnosed with cancer who lived more than five [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea’s unification ministry said Tuesday it is checking relevant information to verify whether President Park Geun-hye’s 2005 letter sent to the former North Korean leader violated a law on inter-Korean exchanges. A local media outlet reported that in July 2005, Park, then head of the conservative party, sent [...]
SEOUL, Dec. 20 (Korea Bizwire) – CJ Cheiljedang Corp., South Korea’s largest food company, said Tuesday it has completed two animal feed plants in Indonesia as part of efforts to expand its presence in the Southeast Asian market. One plant located in Central Java’s Batang has a 260,000-ton annual capacity of feed for chickens and [...]