SEOUL, April 3 (Korea Bizwire) – The local market for mackerel, one of the most popular fish in Korea, is being invaded by fish from Norway with waning catch from local waters. According to Statistics Korea, $20.32 million worth of mackerel (10,789 tons) was imported from the Scandinavian country in January and February, up by [...]
SEOUL, April 3 (Korea Bizwire) – The Korea Institute of Finance suggested Sunday that drastically reducing household debt could shrink consumption, raising a dilemma for those crafting South Korean economic policy to combat the struggle to cope with soaring debt and waning domestic consumption. According to researcher Park Choon-sung in his report on household debt [...]
INCHEON, April 3 (Korea Bizwire) – The 2017 Korean Baseball Organization season began on Friday at the Incheon SK Happy Dream Park, highlighted by the latest 5G technology and virtual and augmented reality. Before the game between the SK Wyverns and the KT Wiz, visitors had the chance to experience free VR rides in front [...]
SEOUL, April 3 (Korea Bizwire) – Internet-only banks will promote innovation in South Korea’s financial sector that has been struggling with slower growth and slim margins, the financial regulator head said Monday. Yim Jong-yong, chairman of the Financial Services Commission (FSC), made the remarks as one of two Internet banks, K-Bank, launched its operations earlier [...]
SEOUL, April 3 (Korea Bizwire) – CJ E&M, South Korea’s leading entertainment and media content company, said Monday it will open new channels exclusively for airing “hallyu” content in Malaysia, Vietnam and Hong Kong. The company said it will launch a Korean movie channel “tvN Movies” in Malaysia and “TV Blue,” a channel for providing [...]
SEOUL, April 3 (Korea Bizwire) – The majority of South Koreans do not believe they will be able to move up the social ladder due to what they call the unfair social structure affected by regionalism, school and blood ties, a survey showed Monday. About 59 percent of those polled said they do not think [...]
SEOUL, April 2 (Korea Bizwire) – Samsung Electronics Co., the world’s largest manufacturer of smartphones, slightly reduced its expenditures on research and development (R&D) projects last year, data showed Wednesday, as it sought to acquire key technologies through mergers and acquisitions, data showed Sunday. Samsung Electronics Co. spent 14.79 trillion won (US$13.2 billion) on R&D [...]
SEOUL, April 2 (Korea Bizwire) – South Korea will run the country’s first villages reserved for people suffering from dementia and their families, the health ministry said Sunday. The ministry said it will announce plans for the pilot program and designated three candidate villages in April, with the program slated to go into full swing [...]
SEOUL, March 31 (Korea Bizwire) — There’s a new coinage emerging amongst South Korean consumers that literally translates into “f— it expense.” The origin of sibal (the four-letter word) biyong (expense or cost) goes back to November 28 of last year, when a local Twitter user (satuki_yami) defined the term as an expense that could [...]
NAMWON, South Korea, March 31 (Korea Bizwire) – The Korea Expressway Corporation’s South Jeolla office introduced Thursday a wrong-way driving preventive system at one of its toll gates on the Gwangju-Daegu Expressway (Namwon), to more effectively prevent accidents that can result from drivers heading mistakenly, or deliberately, in the opposite direction. According to officials, wrong-way [...]