SEOUL, Feb. 17 (Korea Bizwire) – South Korea’s fashion market is expected to grow 3.3 percent in 2017 from a year earlier, with major apparel companies ramping up efforts to expand their footing here and abroad amid dim prospects, industry data showed Friday. The size of the domestic fashion market is predicted to reach 39.3 [...]
SEOUL, Feb. 17 (Korea Bizwire) – The Malaysian government said Thursday that it will turn over the body of Kim Jong-nam, North Korean leader Kim Jong-il’s half-brother, to North Korea once the investigative process is complete, which officials expect will be as late as the beginning of next week. Although it is customary for a [...]
SEOUL, Feb. 17 (Korea Bizwire) – A man versus AI match in language translation will take place in Seoul on February 21, hosted by the International Interpretation & Translation Association, Sejong University, and Sejong Cyber University. The contest will run for 50 minutes, and its participants include a professional human translator, Systran translator, Google translator, [...]
SEOUL, Feb. 17 (Korea Bizwire) – Chinese tourists have become an indispensable asset for domestic tourism, accounting for roughly 60 percent of all individual travelers to Korea, and over half of all customers at local duty-free stores. But as is the case for all popular tourist destinations, misbehaviors and an apparent lack of respect for [...]
SEOUL, Feb. 17 (Korea Bizwire) – South Korea on Friday announced a plan to nurture 100 ‘star’ venture firms in the science and technology sectors by 2020 to secure new economic growth engines. The Ministry of Science, ICT and Future Planning reported a set of measures to Acting President and Prime Minister Hwang Kyo-ahn to [...]
SEOUL, Feb. 17 (Korea Bizwire) – South Koreans’ calls for the renegotiation of a 2015 Seoul-Tokyo deal on Japan’s sexual enslavement of Korean women during World War II have been rising amid the rekindling of a row between the two countries over symbols of the victims, according to poll results released by Gallup Korea on [...]
SEOUL, Feb. 17 (Yonhap) – Hanjin Shipping Co., a major shipping line in South Korea, was officially declared bankrupt by a Seoul court Friday, ending its 40-year run and heralding a fundamental change in the country’s shipping landscape. The Seoul Central District Court decided to declare bankruptcy for Hanjin Shipping after a two-week period for [...]
SEOUL, Feb. 17 (Korea Bizwire) – Samsung Group, South Korea’s largest conglomerate, is expected to put most of its new business and investment plans on hold, at least temporarily, following the arrest of its heir-apparent Lee Jae-yong, market observers said Friday. Lee, the group’s de facto leader, was arrested early Friday on charges of bribery [...]
SEOUL, Feb. 17 (Korea Bizwire) – Lee Jae-yong, Samsung Group’s de facto leader, was formally arrested Friday on charges of bribery in connection with a high-profile corruption scandal surrounding President Park Geun-hye and her friend. With the Seoul Central District Court issuing the arrest warrant, Lee, vice chairman of Samsung Electronics Co., became the first [...]
SEOUL, Feb. 16 (Korea Bizwire) – Interest in hanok, traditional Korean-style housing, has skyrocketed with new architectural technology and financial support in the form of government subsidies, and more and more Koreans are now rushing to build houses using once-forgotten traditional designs. According to government sources, over 50 local governments have come up with official [...]