SEOUL, Dec. 20 (Korea Bizwire) – South Korea and China have agreed to expand the mutual certification of electronics and electrical products on the occasion of the first anniversary of their free trade deal, a government agency said Tuesday. The agreement calls for the exemption of 104 electronics and electrical goods from obtaining a mandatory [...]
SEOUL, Dec. 20 (Korea Bizwire) – Ssangyong Motor Co., the local unit of Indian carmaker Mahindra & Mahindra Ltd., said Tuesday that it has sold more than 100,000 units of the Tivoli small SUV in the South Korean market alone, making it one of the best-selling cars in its history. The automaker said 100,025 units [...]
SEOUL, Dec. 20 (Korea Bizwire) – A growing number of small and medium enterprises (SMEs) in South Korea are turning to high-interest loans from nonbank lenders as banks tighten their loan screening, data showed Tuesday. As of end-October, outstanding SME loans from nonbank financial institutions came to 76.6 trillion won (US$64.4 billion), up 31.2 percent [...]
SEOUL, Dec. 19 (Korea Bizwire) – In accordance with a recent agreement with the Ministry of Environment, domestic and overseas tire manufacturers will be obligated to indicate the noise level of their products starting in 2019, a measure that officials expect will significantly reduce noise pollution from vehicles. Organizations and manufacturers that voluntarily agreed to [...]
SEOUL, Dec. 19 (Korea Bizwire) – The National Museum of Korea is hosting a special exhibition dubbed “Egyptian Treasures from the Brooklyn Museum,” starting December 20, that will run through April 9 of next year. The exhibit will showcase some 230 Egyptian artifacts – from human and animal mummies to jewelry, caskets, and other sculpts [...]
SEOUL, Dec. 19 (Korea Bizwire) – The Republic of Korea Air Force announced Monday that it had completed upgrading its F-16 fighter jets, equipping them with AIM-120 mid-range air-to-air missiles and GBU-31JDAM (Joint Direct Attack Munition) air-to-ground guided bombs, which will enable them to strike key underground facilities in North Korea and shoot down combat [...]
CHANGWON, South Korea, Dec. 19 (Korea Bizwire) – The iconic 105-meter gantry crane from Sungdong Industrial Co.’s Masan shipyard is being dismantled, set to bid its home farewell after less than a decade of service, with the locals and the media are calling the event the “Tears of Masan” – taken from “Tears of Malmö.” Tears [...]
SEOUL, Dec. 19 (Korea Bizwire) – Following the controversial discovery of alarming concentrations of heavy metals in urethane running tracks, the government has finally decided to revise the safety standards for toxic substances used in urethane construction. The Korean Agency for Technology and Standards – operating under the Ministry of Trade, Industry & Energy – [...]
SEOUL, Dec. 19 (Korea Bizwire) – Hyundai Merchant Marine Co., a major shipping line here, expects its profitability to improve slightly in the first quarter of next year on the back of an improvement in freight rates and its cost-cutting measures, its chief said Monday. “I can’t say when we will swing to the black, [...]
SEJONG, Dec. 19 (Korea Bizwire) – More than 35 percent of thirtysomethings in South Korea remained unmarried last year amid a widespread late marriage trend in the country, census data showed Monday. According to the 2015 census by Statistics Korea, out of 42.7 million people aged 15 or over, 13.4 million, or 31.3 percent, were [...]