Business Archives | Be Korea-savvy

Archive by category Business

18 Trillion Won Turkish Canal Project to Kick Off Next Year

18 Trillion Won Turkish Canal Project to Kick Off Next Year

SEOUL, Nov. 16 (Korea Bizwire) — The Ministry of Transport and Infrastructure of Turkey announced that a canal project that has included Korean construction companies by request of Turkish President Recep Tayyip Erdoğan will be breaking ground next year. In an interview with local Turkish media Anadolu Agency, Turkey’s transportation minister yesterday revealed that the [...]

Government Mulls Easing Regulations on Hydrogen Cars and Drones

Government Mulls Easing Regulations on Hydrogen Cars and Drones

SEOUL, Nov. 16 (Korea Bizwire) — The South Korean government is expected to move forward with new policies that would permit the installation of hydrogen charging stations in semi-residential areas and commercial areas as well as the establishment of drone zones in currently prohibited airspace. Such issues were addressed yesterday at the Central Government Complex [...]

Floating Solar Farm in Spotlight as S. Korea Goes Green

Floating Solar Farm in Spotlight as S. Korea Goes Green

GUNSAN, Nov. 16 (Korea Bizwire) — A reservoir on the south bank of the Geum River has stayed idle except when it stores heavy rain to prevent flooding in the nearby industrial complex in Gunsan, a southwestern port city. The coastal reservoir has recently found a new role: The nation’s largest floating solar farm was [...]

Turkish Version of Popular Korean E-commerce Website a Hit

Turkish Version of Popular Korean E-commerce Website a Hit

SEOUL, Nov. 15 (Korea Bizwire) — An annual sale offered on November 11 by the Turkish edition of the popular Korean e-commerce website 11Street has become Turkey’s most popular “shopping day” just three years after it was first held. The website known as n11 (www.n11.com) revealed yesterday that it had recorded approximately 50 billion won [...]

Ulsan and KT Agree to Develop Mobile Currency

Ulsan and KT Agree to Develop Mobile Currency

ULSAN, Nov. 15 (Korea Bizwire) — The city of Ulsan and KT Corp. signed a memorandum of understanding on Wednesday to adopt a mobile currency for the city. The two parties agreed to carry out preparatory projects to adopt the local currency, conduct joint studies and research projects, exchange information, and discover innovative ideas that [...]

Retail Sales, Industrial Output Face Slump in Restructuring-hit Regions

Retail Sales, Industrial Output Face Slump in Restructuring-hit Regions

SEOUL, Nov. 15 (Korea Bizwire) — Retail sales and industrial output in restructuring-hit regions remained in a slump in the third quarter, government data showed Thursday. According to the data compiled by Statistics Korea, retail sales in South Gyeongsang Province, North Jeolla Province and Ulsan declined 2.3 percent, 1.2 percent and 1.2 percent, respectively, in [...]

Turnover Rate of Deposits Nears 32-year Low

Turnover Rate of Deposits Nears 32-year Low

SEOUL, Nov. 15 (Korea Bizwire) — The turnover rate of deposits in South Korea hit a near 32-year low in September, central bank data showed Thursday, indicating that money circulation is clogged in Asia’s fourth-largest economy. The turnover rate of demand deposits came to 16.4 times for September, the lowest since January 1987, when the [...]

SK Innovation Mulls Building Car Battery Plants in U.S., Europe

SK Innovation Mulls Building Car Battery Plants in U.S., Europe

SEOUL, Nov. 14 (Korea Bizwire) — SK Innovation Co., a South Korean energy-to-construction conglomerate, said Wednesday that it is considering building electric vehicle battery plants in the United States and Europe to meet growing demand for zero-emissions cars. SK Innovation said up to four unidentified areas have been shortlisted for its first plant in the [...]