SEJONG, Dec. 21 (Korea Bizwire) – The Ministry of Land, Infrastructure and Transport is scheduled to announce its “Basic Plan for Development of the Drone Industry” at Yeouido this Friday. The basic plan lays out the government’s short-term goal of growing the burgeoning industry into a 350 billion won market in five years, and emphasizes [...]
PYEONGCHANG, Dec. 21 (Korea Bizwire) – When the winter cold is at its peak, intrepid athletes will run to the hills for a barefoot “naked” marathon through Daegwallyeong – a mountain pass connecting Pyeongchang and Gangneung in eastern South Korea. High Touch Korea announced that it will organize the “fun run” scheduled for February 24. [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea’s automobile market will likely suffer 0.9 percent negative growth next year due to lower overseas demand, an industry association said Thursday. In 2018, carmakers are expected to sell a total of 4.39 million vehicles, with 2.57 million units shipped abroad and domestic sales reaching 1.82 million units, [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea’s top court upheld Thursday a lower court’s suspended sentence for a daughter of the Korean Air Lines Co. chief for ordering her flight back to a gate in New York three years ago because she was upset about the way her nuts were served on the plane. [...]
SEOUL, Dec. 21 (Korea Bizwire) — The combined sales of high-end smartphones in South Korea hit record-high levels in November, industry data showed Thursday, following the popularity of the Galaxy Note 8 and new iPhones. According to the data, South Korea’s three mobile carriers sold 1.4 million units of smartphones priced 700,000 won (US$648) and [...]
SEOUL, Dec. 21 (Korea Bizwire) — The funeral for the late Kim Jong-hyun, lead singer of K-pop group SHINee, was held Thursday, attended by his family, close friends and fellow artists. Kim, better known as his stage name Jonghyun, died Monday in an apparent suicide. The 27-year-old singer left a suicide note describing his harrowing [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korean retail giant Lotte said Thursday it has purchased Indonesian synthetic resin makers, the latest in a series of deals meant to tap deeper into the world’s fourth most populous nation. Lotte Advanced Materials Co., the chemical arm of Lotte, has signed a deal to wholly purchase PT [...]
SEJONG, Dec. 21 (Korea Bizwire) – Come next year, citizen-funded solar panels are to be installed on unused spaces within the nation’s water treatment facilities. The business model in which citizen cooperatives invest in solar power and take home the resulting profits has been implemented in the past, although on a vastly smaller scale; of [...]
SEOUL, Dec. 21 (Korea Bizwire) – In the aftermath of the cyptocurrency exchange Youbit declaring bankruptcy, the lack of oversight and serious risks investors take in pursuit of profits are increasingly becoming the focus of conversation. Industry watchers said on December 20 that there are currently 20 cryptocurrency exchanges in operation, with 10 preparing to [...]
SEJONG, Dec. 21 (Korea Bizwire) – As of May of this year, 1.225 million foreigners 15 years old or above had been in South Korea for at least 91 days. Of this group, 53,000 had been approved for a second duration of stay in the previous five years (returned individuals). The economically active population of [...]