SEJONG, Feb. 6 (Korea Bizwire) – The South Korean government said Monday that flaws in batteries caused the fires in Samsung Electronics Co.’s Galaxy Note 7 which led to a worldwide recall and production halt of the smartphone. In a test conducted by the state-run Korean Agency for Technology and Standards, it was found that [...]
SEOUL, Feb. 6 (Korea Bizwire) – The total value of South Korean stocks under foreign ownership has exceeded 500 trillion won (US$440 billion) for the first time on indications of a global economic recovery and improved earnings by some local giants, data showed Monday. Foreign investors owned 501.9 trillion won worth of shares here as [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korea’s offshore fisheries output sank to a 44-year low in 2016 due to tumbling fish stocks caused by a combination of Chinese illegal fishing, climate change and overfishing, a report showed Monday. The country’s inshore and offshore fisheries production came to 923,000 tons last year, down 12.7 percent [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korea’s major airlines continued to do well in terms of sales last year, but their profitability fell far short of those of other global airlines, market data showed Monday. In a 12-month period starting from September 2015, sales of South Korea’s largest full service carrier (FSC), Korean Air [...]
SEJONG, Feb. 6 (Korea Bizwire) – South Korea confirmed a case of foot-and-mouth disease at a dairy farm, the agriculture ministry in Sejong said Monday. The Ministry of Agriculture, Food and Rural Affairs said that 195 cows at the farm in Boeun, 180 kilometers southeast of Seoul, of North Chungcheong Province, tested positive for the [...]
SEOUL, Feb. 3 (Korea Bizwire) – A boycott is perhaps the most effective way for consumers to protest against a company’s malpractice or alleged misconduct. The practice is also common in Korea, with several big-name companies facing boycotts in recent years. Oxy Reckitt Benckiser was confronted with nationwide rage for selling deadly humidifier sterilizers that [...]
ULSAN, Feb. 3 (Korea Bizwire) – Koreans may share the same ancestors as Vietnamese, if we go back far enough. Life sciences professor Bhak Jong-hwa from UNIST, who is also the director of UNIST’s Genomics Institute, announced Thursday the results of a study on the ancient DNA of two 7,700-year-old women discovered in the Devil’s [...]
SEOUL, Feb. 3 (Korea Bizwire) – Whether it’s the poor economy provoking childhood nostalgia, or people looking for simple gambling fun, claw machines are back in Korea, and they are everywhere. Over the past two years, the number of claw machine arcades in the country jumped by 2,400 percent to an estimated 500 – and [...]
DAEGU, Feb. 3 (Korea Bizwire) – A team of surgeons reported Friday that they have completed a hand transplant on a man in his 30s, marking the first time that a surgery replacing a hand has taken place in South Korea. The 25-strong team, led by W Hospital chief Woo Sang-hyun, transplanted the hand of [...]
SEOUL, Feb. 3 (Korea Bizwire) – China has taken a total of 43 retaliatory actions against the South Korean entertainment sector and trade goods in reprisal for Seoul’s plan to deploy the U.S.-made Terminal-High Altitude Area Defense (THAAD) system, a national think tank said Friday. The number was tallied by the state-run Korea Institute for [...]