SEOUL, Jan. 17 (Korea Bizwire) — The number of shingles patients is increasing yearly, especially among women and people in their 50s, medical data showed Wednesday. According to records from the Health Insurance Review and Assessment Service, 691,339 people were diagnosed with shingles, also known as herpes zoster, in 2016. The number is an increase [...]
SEJONG, Jan. 17 (K0rea Bizwire) — South Korea’s corporate watchdog slapped a 6.2 billion won (US$5.8 million) fine on German industrial giant Siemens’s Korean affiliates for abusing their dominance in the local aftermarket for medical equipment, such as CT and MRI. According to the Fair Trade Commission, Siemens affiliates changed contract terms for their software programs, used for the maintenance of their CT and MRI equipment, depending on whether [...]
SEOUL, Jan. 17 (Korea Bizwire) — Hyundai Heavy Industries Co., a major South Korean shipbuilder, said Wednesday that it has clinched a deal worth 50 billion won (US$46 million) to supply 21 engines to power plants in Indonesia. Under the deal with Indonesia’s state power utility, PT PLN, Hyundai Heavy will supply 21 HiMSEN engines [...]
INCHEON, Jan. 17 (Korea Biz) — A two Michelin-starred chef will open a Korean restaurant in the new passenger terminal of Incheon airport, the country’s main gateway, this week, he said Wednesday. Pyunghwaok, located in the second terminal of Incheon International Airport, west of Seoul, will be unveiled to the public Thursday in line with [...]
SEOUL, Jan. 17 (Korea Bizwire) — Long padded jackets, referred to as “long padding” locally, have become the target of feverish consumerist activity ever since the Winter Olympics-inspired goose down jackets sold out on the online Olympics and Lotte Department stores last November. In a year in which the fashion industry claimed an absence of [...]
SEOUL, Jan. 17 (Korea Bizwire) — From 1 in 100 odds to the South Korean economy’s overreliance on semiconductors, the online community has supplied various reasons to explain Statistics Korea’s findings that show 147,000 were long-term unemployed, or without work for at least six months last year. To put into perspective the scale of the [...]
SEOUL, Jan. 16 (Korea Bizwire) — “When the new minimum wage takes root, the economy will rebound and job growth will materialize.” In his back-and-forth with journalists at the Blue House on January 10, Moon stood firm in his conviction that his administration’s audacious minimum wage boost — dragging up wages from 6,470 won to [...]
BUSAN, Jan. 16 (Korea Bizwire) – A “color of the year” cruise party will leave Busan for Tokyo on April 18 for a four-day voyage, the first such event to be held in South Korea. The Busan Metropolitan Government and marketing firm Salt&Partners announced on January 16 that the trip, titled “CPP Cruise 2018 Busan”, [...]
SEOUL, Jan. 16 (Korea Bizwire) — Unionized workers at Hyundai Motor Co. have approved the second tentative wage deal for 2017, concluding the long-drawn-out negotiations, the union said Tuesday. In a vote held on Monday at a Hyundai’s main plant in Ulsan, 414 kilometers southeast of Seoul, the 49,667-member union chose to accept the revised [...]
SEOUL, Jan. 16 (Korea Bizwire) — K-pop boy group BTS sold more than 500,000 copies of its eighth single “MIC Drop/DNA/Crystal Snow” in Japan in December, becoming the only foreign artist last year to pull off such sales, the group’s agency Big Hit said Tuesday. BTS was awarded double platinum status by breaking the half-million [...]