SEOUL, Feb. 24 (Korea Bizwire) – Hyundai Merchant Marine Co., South Korea’s top shipping firm, said Friday that its shareholders approved a proposal to raise the number of stocks and bonds to be sold, paving the way to get fresh funding from a state-backed firm. Earlier, Korea Shipping Co. said it would buy stocks and [...]
SEOUL, Feb. 24 (Korea Bizwire) – The latest business focus of two major South Korean airlines – Korean Air Lines and Asiana Airlines - has been on acquiring new aircraft models with better fuel efficiency and lower carbon emissions, a measure seen as crucial to their bottom line and ability to sustain growth in the [...]
SEOUL, Feb. 24 (Korea Bizwire) – Second marriages are no longer uncommon in South Korea, and are no longer frowned upon as much as they used to be. The latest data from Statistics Korea says that in around 20 percent of marriages, at least one of the partners is tying the knot for a second [...]
DAEJEON, Feb. 24 (Korea Bizwire) – Daejeon police are considering arresting two men in their 20s, because they are too good at claw machines. It was early morning on February 6 when “A” (undisclosed) showed up at his claw machine arcade in Daejeon, only to find that all five machines were empty, and 210 dolls, [...]
SEOUL, Feb. 24 (Korea Bizwire) – The board of Samsung Electronics Co. approved a new clause on Friday that aims to make donations more transparent, after Vice Chairman Lee Jae-yong was arrested over his alleged role in the influence-peddling scandal that led to the impeachment of President Park Geun-hye. Under the new rule, any plans [...]
SEOUL, Feb. 24 (Korea Bizwire) – Luxury international hotel chains are scrambling to expand their establishments in key districts of Seoul, on the back of increasing demand from local residents opting for overnight relaxation as well as the steady growth of foreigners, industry sources said Friday. Lotte Hotel Co., an affiliate of retail conglomerate Lotte [...]
SEOUL, Feb. 24 (Korea Bizwire) – Kia Motors Corp. is aiming to export up to 10,000 units of the soon-to-be-launched plug-in hybrid vehicle (PHEV) version of its Niro small SUV this year, industry sources said Friday. Kia, the No. 2 carmaker in South Korea, is scheduled to unveil the Niro plug-in hybrid in South Korea [...]
SEOUL, Feb. 23 (Korea Bizwire) – South Korea’s financial regulator on Thursday ordered three insurance firms to halt some of their operations as a punitive measure over their overdue suicide insurance benefits. The three insurers — Samsung Life Insurance, Hanwha Life Insurance and Kyobo Life Insurance — have been criticized for failing to pay out [...]
SEOUL, Feb. 24 (Korea Bizwire) – Mercedes-Benz Korea, the local importer and distributor of the German vehicle, will recall some 280 cars sold here for an airbag issue that has affected millions of cars of various brands throughout the world, the transportation ministry said Friday. The latest recall is part of the Takata airbag recall [...]
SEOUL, Feb. 23 (Korea Bizwire) – Those born in the year 1958, the year of the dog, are symbolic of the turbulent changes that South Korea has experienced over the past half-century. They also represent the baby boomers born between 1955 and 1960, just after the Korean War. The year 1958 was also the first [...]