SEOUL, March 3 (Korea Bizwire) – Outstanding student loans, a rising unemployment rate, and an unstable housing environment are leaving Korean youth (from 19 to 34) on the brink of permanent poverty. According to the latest report on youth poverty from the Korea Institute for Health and Social Affairs, the poverty rates for those aged [...]
CHANGWON, South Korea, March 3 (Korea Bizwire) – On Thursday, Changwon’s Masan Dongbu Police Station installed “yellow carpets” in front of three elementary schools in its district to improve traffic safety for commuting children. By painting the walls and the pavement yellow, a separate space is created that subconsciously encourages children to stand within the [...]
SEOUL, March 3 (Korea Biziwre) – The National Assembly has passed a law requiring those who run “pet dog factories” to get business licenses from provincial governments, the Ministry of Agriculture, Food and Rural Affairs said Friday. The assembly passed the legislation Thursday to enhance hygiene and prevent ill treatment of dogs at the factories, [...]
SEOUL, March 3 (Korea Bizwire) – South Korea will push forward with the installation of an advanced U.S. missile defense system despite objections raised by China, Acting President and Prime Minister Hwang Kyo-ahn said Friday “The deployment of the Terminal High Altitude Area Defense (THAAD) battery is a vital defense measure to meet national security [...]
SEOUL, March 3 (Korea Bizwire) – Chinese consumers are widely expected to demand more luxurious and advanced products, a report suggested Friday, urging South Korean exporters to keep up with the ever-changing taste of consumers in the world’s largest market. IT, beauty and premium were among six keywords picked to describe the latest spending trend [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s tax authorities have been investigating the local importer of Toyota and luxury Lexus vehicles over suspected tax evasions since late 2016, industry sources said Friday. In November, the Seoul office of the National Tax Service (NTS) launched a tax audit into Toyota Korea over suspicions that it [...]
SHANGHAI/SEOUL, March 2 (Korea Bizwire) – China has instructed travel agencies in the country to stop selling trips to South Korea, sources said Thursday, in what is seen as another retaliatory move against Seoul’s decision to deploy an advanced U.S. anti-missile defense system. According to industry sources in China, the China National Tourism Administration (CNTA) [...]
JEJU ISLAND, South Korea, March 2 (Korea Bizwire) – Prosecutors on Jeju Island said Thursday they will carry out an intensive crackdown on foreign nationals illegally staying on the southern resort island until the end of May. Officials from the prosecution, Coast Guard, immigration office and provincial government held a meeting to discuss measures to [...]
SEOUL, March 2 (Korea Bizwire) – South Korea’s top-three life insurers – Samsung, Hanwha and Kyobo – have decided to pay all overdue suicide claims, giving in to regulators’ punitive steps, industry officials said Thursday. Samsung will pay a total of 174 billion won (US$152 million) in respect of its policyholders who committed suicide on [...]
SEOUL, March 2 (Korea Bizwire) – South Korea and the United States officially kicked off negotiations Thursday to finalize the terms of deploying the advanced American missile defense system THAAD in South Korea, the foreign ministry said. “With regard to the provision of land (for the deployment), a request has been filed to open negotiations [...]