SEOUL, Jan. 15 (Korea Bizwire) – Seoul is ramping up efforts in a turf war against peeping toms by expanding the scope of its site inspections for hidden cameras to include universities, performance halls, shopping malls and other locations frequented by large groups of people. The South Korean metropolis first formed an all-female hidden recording [...]
SEOUL, Jan. 15 (Korea Bizwire) – Cats will go the way of the dogs as the government announced on January 14 that it will begin a trial period for registering house cats just like pet dogs starting on January 15. The Ministry of Agriculture, Food and Rural Affairs, which is spearheading the program in 17 [...]
SEOUL, Jan. 15 (Korea Bizwire) – On January 13 in Gwanghwamun Square located in the heart of Seoul, pedestrians were treated to a peculiar sight: a drone buzzing through the air with the Olympic torch perched on its back. This unusual sight was also an unprecedented one, as this particular drone that was honored with [...]
SEOUL, Jan. 15 (Korea Bizwire) – The Financial Supervisory Service (FSC) has crafted a rewards-and-penalties system to persuade cryptocurrency investors to provide identification information prior to conducting transactions. An individual at one of South Korea’s financial regulatory agencies said, “Since banning cryptocurrency transactions outright will take a considerable amount of time, [the FSC] will look [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea is within reach of becoming the fifth-largest exporting nation in the world, fueled by a steady rise in outbound shipments, a private economic think tank said Sunday. The Hyundai Research Institute (HRI) said in its latest 2018 export issue review paper that as of September last year, [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s exports of weapons jumped to US$3.19 billion last year amid efforts to diversify products, customers and marketing methods, the country’s state arms agency said Monday. It represents a 25 percent increase from $2.55 billion posted in 2016, according to the Defense Acquisition Program Administration (DAPA). It’s unusual [...]
SEOUL, Jan. 15 (Korea Bizwire) — Foreign investors picked up financial and chemicals shares on the KOSPI, South Korea’s main bourse, last year while selling off electronics and construction stocks, data from the Korea Exchange showed Monday. Offshore investors bought 6.58 trillion won (US$6.17 billion) worth of local stocks in 2017, of which financial stocks [...]
SEOUL, Jan. 15 (Korea Bizwire) – The growth of regular workers in South Korea slowed to the lowest rate in 15 years in 2017, amid ongoing restructuring efforts in the shipbuilding industry, government data showed Monday. The number of regular workers rose 2.8 percent to 13.3 million last year from the previous year, according to [...]
SEOUL, Jan. 15 (Korea Bizwire) — The World Trade Organization’s ruling against the United States over the country slapping anti-dumping duties on steel pipes has been confirmed, Seoul’s trade ministry said Monday. In July 2014, the U.S. Commerce Department levied 9.9 percent to 15.8 percent anti-dumping duties on oil country tubular goods (OCTG) imports from [...]
SEOUL, Jan. 12 (Korea Bizwire) — With a little help from India’s space program, five South Korean satellites developed by university students have departed for the final frontier. The Ministry of Science and ICT announced that five “cube” satellites were loaded onto the Indian Space Research Organization’s Polar Satellite Launch Vehicle and launched at 9:29 [...]