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S. Korea’s Gov’t Eases Regulations to Support SK hynix’s New Chip Cluster

S. Korea’s Gov’t Eases Regulations to Support SK hynix’s New Chip Cluster

SEOUL, Feb. 22 (Korea Bizwire) — The South Korean government said Friday it will move to lift regulations to pave the way for the country’s No. 2 chipmaker SK hynix Inc.’s to build a semiconductor cluster in the Seoul metropolitan area. The Ministry of Trade, Industry and Energy said it plans to request the Ministry [...]

S. Korea’s Income Gap Hits Record High in Q4

S. Korea’s Income Gap Hits Record High in Q4

SEJONG, Feb. 21 (Korea Bizwire) — South Korea’s household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday. An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea. The [...]

SK hynix Pushes to Create Semiconductor Cluster in Yongin

SK hynix Pushes to Create Semiconductor Cluster in Yongin

SEOUL, Feb. 21 (Korea Bizwire) — SK hynix Inc., the world’s second-largest memory chip maker, said Thursday it has officially expressed interest in creating a semiconductor cluster in Yongin, Gyeonggi Province, about 50 kilometers south of Seoul. A special purpose company has submitted a letter of investment intent, for investing in Yongin, to the city’s [...]

Gov’t to Let Banks Open Payment Systems to Fintech Firms

Gov’t to Let Banks Open Payment Systems to Fintech Firms

SEOUL, Feb. 20 (Korea Bizwire) — The government plans to let banks open their payment systems to financial technology firms, in a move that would provide a level playing field for new players and increase competition in the financial industry, officials said Wednesday. The plan was announced at a meeting chaired by Finance Minister Hong [...]

Drivers Use Less Gasoline in 2018 amid Higher Fuel Prices

Drivers Use Less Gasoline in 2018 amid Higher Fuel Prices

SEOUL, Feb. 20 (Korea Bizwire) — A gasoline-burning automobile consumed an average 1,159 liters last year, down 2.4 percent from a year earlier, as drivers cut back on spending probably to cope with high prices, industry data showed Wednesday. According to the Korea Petroleum Association, the figure marks the lowest since 2006, when the comparable [...]