SEOUL, Dec. 13 (Korea Bizwire) – Embattled Daewoo Shipbuilding & Marine Engineering Co. is expected to receive 2.8 trillion won (US$2.39 billion) from its creditors this month, averting a delisting from the local stock market, industry sources said Tuesday. Last month, the creditors, led by the state-run Korea Development Bank (KDB), decided to provide the [...]
SEOUL, Dec. 13 (Korea Bizwire) – Hyundai Motor Co., South Korea’s leading automaker, said Tuesday that its small-sized engine has been selected as one of the global top 10 engines of the year by a major U.S. automotive magazine. WardsAuto included the Kaffa 1.4 gasoline turbocharged and direct-injected engine used in Hyundai Motor’s Elantra Eco [...]
SEOUL, Dec. 13 (Korea Bizwire) – Despite an overall market slump, investors are scrambling to bet on stocks related to presidential hopefuls as an early election is deemed inevitable following the impeachment of President Park Geun-hye, data showed Tuesday. South Korean lawmakers voted overwhelmingly to impeach Park on Friday over a massive corruption and influence-peddling [...]
SEOUL, Dec. 12 (Korea Bizwire) – An increasing number of Koreans are identifying themselves as lower-economic class citizens, a recent Statistics Korea report showed, with a large majority now losing hope of even having a chance to move up the social hierarchy. According to the Korea Social Trends 2016 study, released Monday, 20 percent of [...]
SEOUL, Dec. 12 (Korea Bizwire) – The key focus of a 47.5-billion-won ($40.6 million) government project announced Monday will be on demonstrating and implementing viable technologies that can turn greenhouse gases or carbon compounds (CO and CO2) from industrial complexes into useful chemical materials, such as methanol. The project will be jointly conducted by the [...]
SEOUL, Dec. 12 (Korea Bizwire) – A recent study by Statistics Korea (Korea Social Trends 2016) showed that men had a higher level of satisfaction in their relationship with their spouse than women, for those in commuter marriages. Of the male respondents living apart from their partners, 64.5 percent said they were satisfied with their [...]
SEOUL, Dec. 12 (Korea Bizwire) – Ubiquitous but mundane electrical infrastructure such as utility poles and electrical enclosures (cabinets) are getting makeovers with writing and paintings to help improve urban landscapes. The Busan and Ulsan regional office of the Korea Electric Power Corporation announced Monday that their urban-friendly electricity equipment project called “Kkot-bot-dae” – an [...]
SEOUL, Dec. 12 (Korea Bizwire) – Pyongyang’s state media, Korean Central Television, reported Sunday that leader Kim Jong-un observed a military drill simulating an attack on a mock-up of Cheong Wa Dae, the South Korean presidential residence also known as the Blue House. Kim viewed the combat drill conducted by the North Korean army’s special [...]
SEOUL, Dec. 12 (Korea Bizwire) – Crowdfunding is constantly spreading in South Korea as an effective option for both startups and investors, less than a year after the platform was introduced here, government data showed Monday. More than 100 firms, mostly those in the manufacturing, ICT and film-making sectors, have raised a total of 16.3 [...]
SEOUL, Dec. 12 (Korea Bizwire) – South Korea and France sought to expand their ties in the aerospace sector on Monday in an effort to further develop related technology and pioneer the emerging market. The agreement came at the “Korea-France Space Forum,” organized by the Ministry of Science, ICT and Future Planning, which brought together [...]