DAEGU, Feb. 21 (Korea Bizwire) – The Daegu metropolitan government announced Monday that its second air traffic control (ATC) and new air traffic control center (ATCC) are expected to be completed by July of this year, making South Korea’s fourth largest city by population a central hub for air traffic control. The first ATC in [...]
SEOUL, Feb. 21 (Korea Bizwire) – The local stock market is struggling to attract young investors amid prolonged economic hardships, a record high youth unemployment rate, and an increasing number of “house poor” individuals and families. Besides the fact that the benchmark Korea Composite Stock Price Index (KOSPI) has hovered in the same 1,850 – [...]
SEOUL, Feb. 21 (Korea Bizwire) – Land owned by Chinese individuals and companies in South Korea has increased by more than five-fold over the past five years, a report showed on Tuesday. The amount of land owned by Chinese entities here came to 16.9 million square meters last year, marking a 486-percent hike from 3.7 [...]
SEOUL, Feb. 21 (Korea Bizwire) – The penetration rate of personal computers in South Korea fell to its lowest level in 15 years as more people use smartphones and tablet computers, data showed Tuesday. The nation’s penetration rate of personal computers was 75.3 percent last year, marking the lowest rate since 2001, according to the [...]
SEOUL, Feb. 21 (Korea Bizwire) – Hermes handbags, despite their international reputation as an elegant luxury brand, are adding bitterness to their cachet in South Korea as they have been used as a “popular” item for bribes in high-profile political scandals. Industry sources have widely suspected that either a Birkin bag or Kelly bag, two [...]
SEJONG, Feb. 21 (Korea Bizwire) – South Korea’s exports continued their upbeat mode in the first 20 days of February, underscoring a recovery in the country’s outbound shipments, the latest customs data showed Tuesday. Exports amounted to US$27.7 billion from Feb. 1-20, up 26.2 percent from the same period last year, according to the data [...]
SEOUL, Feb. 21 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard in South Korea, has received an order to build two oil tankers, industry sources said Tuesday. Under the deal with a Greek shipowner, Hyundai Heavy will build two very large crude carriers (VLCC) with 320,000 DWT by the end of 2018, the [...]
SEOUL, Feb. 20 (Korea Bizwire) – A study by the Sookmyung Women’s University Industry Academic Cooperation Foundation revealed that 94.6 percent of sexual minorities have come across discriminatory expressions on online communities. The study was the first of its kind in South Korea related to hate speech, and was based on an online survey last year of [...]
DAEJEON, Feb. 20 (Korea Bizwire) – The Daejeon Global Game Center opened Monday at the city’s Information & Culture Industry Promotion Agency headquarters, with the goal of supporting and nurturing the development of next generation AR, VR, and simulation videogames. Since last year, the agency, along with the metropolitan government, has been helping local videogame [...]
SEOUL, Feb. 20 (Korea Bizwire) – Retirement plans are losing their credibility with below par rates of return. According to official data from four official bodies representing institutions offering retirement plans – the Korea Federation of Banks, the Korea Life Insurance Association, the General Insurance Association of Korea, and the Korea Financial Investment Association – [...]