SEOUL, May 4 (Korea Bizwire) – “Saimdang, Memoir of Colors,” an anticipated high-budget TV series that has yielded weaker-than-expected results, has managed to earn a net profit thanks to strong performance overseas, according to the its production company Thursday. According to production agency GROUP 8, the SBS TV drama earned 17 billion won (US$15 million) [...]
SEOUL, May 4 (Korea Bizwire) – The United States ranked as the fourth-largest overseas market for South Korean cosmetic products in the first quarter of 2017 despite concerns of protectionism, a trade association said Thursday. In the January-March period, South Korean companies trailed French, Canadian and Chinese firms in terms of makeup products shipped to [...]
SEOUL, May 4 (Korea Bizwire) – An affiliate of shipbuilder Hyundai Heavy Industries Co. and trading company POSCO DAEWOO secured a 50 billion-won (US$44 million) transformer order from Britain’s National Grid plc, the companies said Wednesday. Hyundai Electric & Energy System and POSCO DAEWOO said they signed the deal to supply 23 high-pressure transformers to [...]
SEOUL, May 4 (Korea Bizwire) – Strong sales of premium products allowed LG Electronics to beat out its main rival Samsung Electronics in the first-quarter TV market earnings race, data showed Wednesday. According to LG, its Home Entertainment (HE) division, which focuses on TVs, posted a record-high operating profit of 382.2 billion won (US$338 million) [...]
SEOUL, May 4 (Korea Bizwire) – Even before the term “K-pop” entered the global pop culture lexicon in the mid 2000s, South Korea did have a big and vibrant pop music scene. During the ’80s and ’90s, Korean pop music — then, and still, commonly referred to as “gayo” at home — was influenced heavily [...]
SEOUL, May 2 (Korea Bizwire) – The Seoul Metropolitan Government announced Tuesday that it is offering 50 percent discounts to audience members wearing hanbok, Korean traditional attire, for 19 performances taking place at four of the city’s performance venues – the Sejong Center for the Performing Arts, Seoul Namsan Traditional Theater, Seoul Donhwamun Traditional Theater, and [...]
SEOUL, May 2 (Korea Bizwire) – The latest data from the Korea Energy Agency has revealed that new and renewable energy sources accounted for 6.61 percent of total electricity generation in South Korea in 2015, up from 4.92 percent in 2014 and surpassing 5 percent for the first time. The improvement was largely attributed to [...]
SEOUL, May 2 (Korea Bizwire) – Waste bins in South Korean public restrooms will soon be removed with a revision passed at a cabinet meeting Tuesday. According to the Ministry of the Interior, the revision mandates that trash cans, which have been criticized for causing poor hygiene in public restrooms, be removed from individual stalls. [...]
SEOUL, May 2 (Korea Bizwire) – Kia Motors Corp. on Tuesday launched the latest version of the Soul electric vehicle (EV) with an extended range, a move aimed at adding more fuel-efficient models to its lineup. The 2018 Soul EV can travel an average of 180 kilometers on a single charge using its 30-kilowatt-per-hour battery, [...]
SEJONG, May 2 (Korea Bizwire) – South Korea will simplify customs clearance process to help local exporters do business more easily in a way to give further momentum to the country’s exports which seems to have entered an upside cycle, the customs agency said Tuesday. The Korea Customs Service (KTS) said those who sell goods [...]