SEOUL, Feb. 6 (Korea Bizwire) – Korea and China have called for a temporary truce over THAAD woes after controversy erupted when APA Hotel, a Japanese hotel chain, placed history books denying Japan’s wartime sex slavery and the Nanking Massacre at its locations. “The boycott against APA Hotel was introduced to the Chinese public through [...]
SEOUL, Feb. 6 (Korea Bizwire) – The Deloitte Millennial Survey 2017 revealed that South Korean youth are losing hope in their very own economy, ranking fairly low among surveyed countries. The survey was based on 8,000 millennials from 30 countries born after 1982, with permanent jobs and at least a bachelor’s degree. It is the [...]
SEJONG, Feb. 6 (Korea Bizwire) – Announcing the results of an investigation into the Galaxy Note 7 fiasco Monday – which backed Samsung’s ruling that the problem phones had faulty batteries – the government also introduced plans to improve safety measures to prevent similar catastrophes from recurring. To begin with, lithium-ion batteries will be subject [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korea logged a net outflow of gold not held as foreign reserve assets for the first time in four years in 2016, central bank data showed Monday. The balance of trade in non-monetary gold was valued at a surplus of US$265 million last year, according to data by [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korean motorists pay much higher oil taxes than their counterparts in the United States and Japan, a report said Monday, sparking calls for the government to lower them. According to the report by online crude price provider Opinet, gasoline prices in South Korea averaged 1,455 won (US$1.28) per [...]
SEOUL, Feb. 6 (Korea Bizwire) – LG Electronics announced Monday that it had set a new monthly record by selling more than 10,000 units of its Styler, an ambitious garment care system, for the first time in January – which equates to selling roughly one unit every four minutes. The Styler is a combination of [...]
SEOUL, Feb. 6 (Korea Bizwire) – Kakao Talk is South Korea’s most popular messaging application, boasting 50 million active monthly users around the world. Among the dozen or so notification sounds offered by the app is “Obama Talk”, which was taken from an actual speech made by former U.S. president Barack Obama, where he mentioned [...]
SEOUL, Feb. 6 (Korea Bizwire) – The rise of single-person households and working couples has led to remarkable growth in the convenience food market in the past five years, with soaring demand for convenience store lunch boxes, ready-to-eat packaged fruit, and other forms of food products promising to help make life easier for busy modern-day [...]
SEOUL, Feb. 6 (Korea Bizwire) – The home appliance industry has recently upped growth expectations for the laundry dryer market from doubling this year (compared to 2016) to tripling, if not quadrupling, to 300,000 to 400,000 units to be sold. Despite the ubiquity of electric or gas dryers overseas, most Korean households still make use [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korean companies’ tax payments overseas nearly tripled in 2015 from four years earlier in line with their increasing foreign income, government data showed Monday. In order to avoid double taxation, they also received a large amount of money in tax credits here, sparking concerns that such a practice [...]