SEOUL, March 5 (Korea Bizwire) — Daesung of the K-pop group BIGBANG will begin his mandatory military service next week, his agency said Monday. “Daesung will be admitted into an Army basic training camp next Tuesday and undergo a five week training session,” YG Entertainment said. He will be assigned to an Army unit, where [...]
SEOUL, March 5 (Korea Bizwire) — LG Electronics Inc. said Monday the organic light-emitting diode (OLED) TVs will take up around 20 percent of its combined TV sales this year. “LG Electronics has been posting two-fold annual growth in the premium TV market centering on OLED TVs,” said Kwon Bong-suk, the head of LG’s home [...]
SEOUL, March 5 (Korea Bizwire) — Online cryptocurrency services have come a long way since recording fewer than a million visitors per month early last year. Thanks to soaring valuations of bitcoin and other currencies starting in August, the once unheralded sector’s web traffic has surged since then, welcoming 5.09 million visitors in January according [...]
SEOUL, March 5 (Korea Bizwire) — “K-beauty” products are gaining a foothold in new markets outside of China and Southeast Asia. While shipments to China comprises around 40 percent of all South Korean cosmetics exports, the geopolitical standoff over U.S. missile defense installations last year has spurred on companies to establish a presence in Africa, [...]
SEOUL, March 3 (Korea Bizwire) — Despite repeated statements made by the governments of both South Korea and Japan declaring their intention to build a future-oriented relationship, conflicting views on previously arranged reparations for comfort women are continuing to be a point of contention. In his commemorative speech on March 1, the 99th anniversary marking [...]
SEOUL, March 2 (Korea Bizwire) – A recent opinion gathering survey by online job platform Saramin has revealed 36.7 percent of 1,274 employed individuals consider themselves to be financially and psychologically dependent on their parents. The most commonly given answers to the question of why they were unable to become financially self-sufficient were inadequate wages, [...]
SEOUL, March 2 (Korea Bizwire) — Hyundai Motor Co. and its corporate cousin Kia Motors Corp. posted increased sales of their sport-utility vehicle (SUVs) in the United States last month, though overall number of vehicles sold have not fully recovered, data showed Friday. In February, Hyundai Motor’s combined SUV sales jumped 19 percent to 18,111 [...]
SEOUL, March 2 (Korea Bizwire) — Jung Yong-hwa, the main vocalist of the pop rock band CNBLUE, will stand trial for suspected illegal admission to a graduate school program without due process, police said Friday. Jung and five others have been referred to the prosecution on recommendation that they be charged with obstruction of business [...]
SEJONG, March 2 (Korea Bizwire) — The government has begun to take steps to remove works by world-renowned South Korean poet Ko Un from school textbooks amid growing sexual misconduct allegations, multiple industry sources said Friday. The Ministry of Education sent an official letter earlier in the day to the Korea Authorized & Approved Textbooks, [...]
SEOUL, March 2 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Friday its February sales fell 22 percent from a year earlier on weak demand at home and abroad. Renault Samsung sold 15,994 vehicles in February, down from 20,582 units the previous year, the company said [...]