SEOUL, Feb. 3 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, on Friday said its earnings nearly doubled last year from a year earlier, thanks to better-than-expected results from its petrochemical business and expanded refining margin. Net profit stood at 1.72 trillion won (US$1.49 billion) last year, compared with a profit of [...]
SEOUL, Feb. 3 (Korea Bizwire) – The South Korean government on Friday began a safety probe on diapers from Proctor & Gamble after allegations arose that they contain toxic chemicals. The Korean Agency for Technology and Standards is taking action on rising fears at home after French media reported that the diapers had dioxin, an [...]
SEOUL, Feb. 3 (Korea Bizwire) – Warehouse clubs that sell a wide variety of merchandise in large quantities were not the most popular shopping destinations for consumers 10 to 15 years ago. Despite discounted prices, the idea of shopping at a place reminiscent of a massive storage facility didn’t quite come across as a pleasing [...]
BUSAN, Feb. 3 (Korea Bizwire) – A finless porpoise rescued from Geoje Island waters last month has been safely released back to the ocean. The porpoise was accidentally caught in the fishing net of a local vessel on December 27, giving it multiple scars. Luckily, the captain of the ship reported the incident to officials [...]
PYEONGCHANG, Feb. 3 (Korea Bizwire) – Pyeongchang is hosting its third art biennale, after previous iterations in 2013 and 2015, to celebrate the PyeongChang Winter Olympics that will begin a year from now on February 9, 2018. This year’s biennale is titled “The Five Moons: Return of the Nameless and Unknown,” casting a new light on [...]
SEOUL, Feb. 3 (Korea Bizwire) – The Bank of Korea Money Museum, located in Myeongdong, central Seoul, opened in 2001 to celebrate the 50th anniversary of South Korea’s central bank (the bank opened in June 1950). In addition to its display of some 4,500 banknotes from around the world, the facility delves into the history [...]
SEJONG, Feb. 3 (Korea Bizwire) – Online shopping in South Korea reached a fresh record high in December on the back of a steady upbeat trend of buying goods through computers and mobile phones, government data showed Friday. Total online transactions reached a record 6.2 trillion won (US$5.4 billion) in December, up 15.4 percent from [...]
SEOUL, Feb. 3 (Korea Bizwire) – Kakao Corp., an internet company that operates the country’s top mobile messenger KakaoTalk, said Friday it will provide its map tools to local game developers from the first half of this year to help them produce a megahit like Pokemon Go. The move was disclosed by Namkoong Whon, the [...]
SEOUL, Feb. 3 (Korea Bizwire) – South Korea’s special investigators appeared at the presidential office Cheong Wa Dae on Friday to execute a search warrant where President Park Geun-hye was named a bribery suspect in an influence-peddling scandal rocking the country. The investigation team looking into the alleged wrongdoings visited Cheong Wa Dae to secure [...]
SEOUL, Feb. 3 (Korea Bizwire) – A growing number of South Koreans are seeking help from the state financial watchdog for damages caused by loan sharks amid a prolonged economic slump, official data showed Friday. A total of 2,306 relevant cases were reported to the Financial Supervisory Service (FSS) last year, up 89 percent from [...]