SEOUL, March 28 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co. is facing difficulties securing new orders as some of its bondholders remain increasingly undecided over whether to back its creditors’ rescue package, industry sources said Tuesday. According to the sources, the major South Korean shipyard has been widely expected to finalize two deals [...]
SEOUL, March 28 (Korea Bizwire) – Banks in South Korea sharply downsized their headcounts, branches and automated instruments in 2016 to cut costs amid rapid growth in mobile and Internet banking, government data showed Tuesday. The combined workforce of lenders operating in the country stood at 114,775 as of the end of last year, down [...]
SEOUL, March 27 (Korea Bizwire) – The demand for household solar panels is soaring, with bigger subsidies on offer from the Korea Energy Agency and local governments, as households try to dodge sky-high electricity bills that dumbfounded them last summer. Starting this year, the KEA is providing 3.51 million won ($3,148) in subsidies for a [...]
SEOUL, March 27 (Korea Bizwire) – What the current leader of North Korea, Kim Jong-un, learned from his forefathers is not just their autocratic means to control the public – he also inherited their plump physique that has often been subject of mockery outside the country’s isolated regime. A 1960 article by a South Korean [...]
SEOUL, March 27 (Korea Bizwire) – The newfound political awareness of South Koreans, after a months-long scandal that ended with the impeachment of President Park Geun-hye, has given rise to mobile games that let players be the kingmaker, running a virtual presidential election, or be the president themselves. Developed by Goormsoft Corp., Raising President (title [...]
SEOUL, March 27 (Korea Bizwire) – The Ministry of Trade, Industry & Energy said Sunday that it will be rolling out a Virtual Reality Shopping Mall during this year’s Korea Sale Festa – Korean Black Friday – that consumers will be able to use to shop and place orders and have the goods delivered to [...]
SEOUL, March 27 (Korea Bizwire) – South Korea will establish a 113.5 billion-won (US$101.8 million) fund to nurture startups and venture firms in the bio sector to secure new growth engines, the science ministry said Monday. Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, [...]
SEOUL, March 27 (Korea Bizwire) – Kia Motors Corp., South Korea’s second-biggest carmaker by sales, said Monday it will domestically launch its Stinger sports sedan in May in a move to strengthen its premium lineup. In the domestic market, the high-performance car will be the carmaker’s first sedan which will carry an independent Stinger badge [...]
SEOUL, March 27 (Korea Bizwire) – The estimated value of land owned by South Korea’s 10 biggest business groups rose to a record high last year due in part to the purchase of the headquarters of the Korea Power Electric Corp. (KEPCO) by Hyundai Motors Co. and its affiliates, a market researcher said Monday. Hyundai [...]
SEOUL, March 27 (Korea Bizwire) – High-end smartphones took up less than 30 percent of Samsung Electronics Co.’s combined sales of handsets, data showed Monday, although the figure is expected to rebound after the launch of the tech giant’s upcoming new flagship model this week. According to the data compiled by Hana Financial Investment Co., [...]