SEOUL, Feb. 8 (Korea Bizwire) – The hiatus of popular weekend show “Infinite Challenge” is estimated to cost its network MBC TV around 2 billion won (US$1.75 million) in lost sales, according to industry forecasts Wednesday. First aired in 2005, the mission-oriented reality TV show is one of the most viewed non-drama programs in South [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korea has seen a rapid increase in the number of people going to see movies alone over the past five years, a market report showed Wednesday. The group increased to 13.3 percent of the total audience last year from 7.7 percent in 2012 and 10.7 percent in 2015, [...]
SEOUL, Feb. 8 (Korea Bizwire) – The average growth rate of outgoing tourism from South Korea has far outpaced that of domestic tourism, data showed Wednesday. The number of Koreans who traveled abroad rose by an average annual growth rate of 10.4 percent to 19 million in 2015, from 12 million in 2011, the Ministry [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s central bank said Wednesday it has extended a currency swap agreement with its Australian counterpart, a move that could further strengthen bilateral financial cooperation. The three-year deal, which went into effect earlier in the day, allows for the exchange of up to 9 trillion won or AU$10 [...]
SEOUL, Feb. 8 (Korea Bizwire) – Four passenger vehicles by Hyundai Motor Company and its affiliate Kia Motors triumphed at the International Forum (iF) Design Awards 2017. Three Kia vehicles – the Niro hybrid crossover, Optima (K5) Sportswagon, and all-new Rio (Pride) supermini – received awards for product design in the automobiles and vehicles category, [...]
YEONGAM, South Korea, Feb. 8 (Korea Bizwire) – Hyundai Samho Heavy Industries hosted a delivery ceremony Tuesday at its shipyard in Yeongnam for its latest VLCC (very large crude carrier) built for Saudi’s state-run shipping company, Bahri. The ship, the Amjad (which means “glory” in Arabic), is 333 meters long and 60 meters wide, and [...]
SEOUL, Feb. 8 (Korea Bizwire) – Last year was a good one for new businesses, with entrepreneurs establishing a record 96,155 new ventures for a year-over-year increase of 2.5 percent from 93,788 in 2015. According to the Small & Medium Business Administration, the annual number of new businesses has been rising since 2008, which recorded [...]
SEOUL, Feb. 8 (Korea Bizwire) – Ticket Monster, South Korea’s leading social commerce company, announced Tuesday the launch of a comparative website dubbed T-Mon Finance Mall (translated), which allows customers to compare some 5,800 on and offline financial products from 220 companies. The products available include credit cards, insurance, loans, bank accounts, installment savings, and [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s economic outlook looks rather disappointing, at least from a PwC projection in its latest report, The Long View (How will the global economic order change by 2050?). According to the consulting company, South Korea’s GDP ranking will drop from 13th in 2016 to 14th in 2030, and [...]
SEOUL, Feb. 8 (Korea Bizwire) – South Korean steel and chemical products, the country’s leading export items, have increasingly become targets of import restrictions in other countries, a trade agency said Wednesday. Reports sent in by overseas offices of the Korea Trade-investment Promotion Agency (KOTRA) showed that of the 19 new investigations launched against products [...]