SEOUL, April 10 (Korea Bizwire) – South Korea’s air purifier market has grown rapidly in recent years, industry data showed Monday, amid rising air pollution levels that have been fueled by smog and yellow dust coming from China. Westerly winds carry smog from China, as well as yellow dust from Mongolia, to the Korean Peninsula [...]
SEOUL, April 10 (Korea Bizwire) – South Korea sent back 2,500 vehicles manufactured by Audi and Volkswagen in line with the government’s sales ban following the German carmakers’ emissions scandal last year, industry sources said Monday. According to the sources, the automobiles, including Tiguan and Golf models, have been held at a port in Pyeongtaek, [...]
SEOUL, April 10 (Korea Bizwire) – Foreign investment banks (IBs) have raised their outlook on South Korea’s economic growth for this year, citing a sound recovery in exports, a report showed Sunday. The average growth estimate by 10 IBs including Barclays, Morgan Stanley and Nomura stood at an annual 2.5 percent at the end of [...]
SEOUL, April 10 (Korea Bizwire) – Daewoo Shipbuilding and Marine Engineering has won orders from local shipping firm Hyundai Merchant Marine to build very large crude carriers (VLCCs) that would give the troubled shipbuilder contracts worth some 900 billion won (US$792.25 million), Daewoo officials said Sunday. The two companies signed a letter of intent on [...]
SEOUL, April. 7 (Korea Bizwire) – K Bank, South Korea’s first internet-only bank that opened Monday after months of anticipation, is already off to a good start, leaving more excitement for the upcoming launch of the second bank of its kind, Kakao Bank. Over 100,000 locals had opened a K Bank account as of Thursday, [...]
SEOUL, April 7 (Korea Bizwire) – A joint study by the African Cattle Genome Consortium – incorporating 17 research teams from nine countries including South Korea – revealed that it is genetic traits that help indigenous cattle in Africa better cope with the continent’s scorching heat, announced the Rural Development Administration on Thursday. The joint [...]
SEOUL, April 7 (Korea Bizwire) – A recent study by the YBM TOEIC Commission revealed that work-life balance is most sought after by young South Koreans, reflecting the country’s highly-demanding work environment. According to the commission’s online survey of 3,294 college students and young job seekers, 43.6 percent (1,435) of the participants said “life that [...]
SEOUL, April 7 (Korea Bizwire) – South Korean retail giant Lotte Group’s Chinese retail operations are facing a protracted business suspension as Chinese authorities are expected to extend punitive measures for an additional month in retaliation for Seoul’s decision to deploy a U.S. missile defense system, industry sources said Friday. According to Lotte, 41 out [...]
SEOUL, April 7 (Korea Bizwire) – The number of daily newspapers in South Korea — national and regional combined — totaled 399 as of the end of last year, according to the Ministry of Culture, Sports and Tourism, and the Korean Association of Newspapers (KAN) Friday. The number represents a gain of 16 from the [...]
SEOUL, April 7 (Korea Bizwire) – The Green Climate Fund, the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved eight new projects worth US$755 million, according to the organization Friday. The approval, which was made at the fund’s board meeting in South Korea on Thursday, brought its [...]