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N. Korea Invites Foreign Investment in Cruise Program to Mt. Kumgang

N. Korea Invites Foreign Investment in Cruise Program to Mt. Kumgang

SEOUL, March 23 (Korea Bizwire) – Cash-strapped North Korea is inviting foreign investment in a cruise program linking its eastern mountain resort area to the Russian Far East and Southeast Asia, a North Korean website showed Thursday. Its website promoting Mt. Kumgang recently posted an investment guideline for a ferry business based in the port [...]

Trade Protectionism Sees Samil Spinning Acquire American Textile Company

Trade Protectionism Sees Samil Spinning Acquire American Textile Company

SEOUL, March 21 (Korea Bizwire) – South Korean textile company Samil Spinning has acquired the American company Buhler Quality Yarns through a stock purchase agreement amid fears of trade protectionism in America, according to the Korea Trade-Investment Promotion Agency (KOTRA). Samil’s cunning move to take over all shares of Buhler Quality Yarns will see the [...]

Commodity Prices Continue Rising Due To Rising Oil Prices, Bird Flu

Commodity Prices Continue Rising Due To Rising Oil Prices, Bird Flu

SEOUL, March 21 (Korea Bizwire) – Commodity prices continued to move up in recent weeks amid rising crude oil prices and the outbreak of the avian influenza, industry sources said Tuesday. Consumer prices rose 1.9 percent in February from a year earlier with comparable figures for January standing at 2 percent. The Bank of Korea [...]

Applicants for Street Cleaning Work Turn Out in Droves as Job Market Plunges

Applicants for Street Cleaning Work Turn Out in Droves as Job Market Plunges

GUMI, SOUTH KOREA, March 9 (Korea Bizwire) — The Gumi City government saw more than two hundred people apply for a number of public area cleaning job openings after it began taking applicants. Of the 239 candidates, nearly one hundred had a university degree or more while 131 were high school graduates. A mere 14 people [...]

Protectionism in US and China Takes Toll on South Korean Economy

Protectionism in US and China Takes Toll on South Korean Economy

SEOUL, March 7 (Korea Bizwire) – Import restrictions in the U.S. and China against South Korean products targeting steel, electronics and cosmetics are on the rise, the Korea International Trade Association said today. As of February, 23 restrictions are being imposed on Korean products exported into the US, and 13 in China. The number is up [...]

Mobile Devices More Popular Than Desktop PCs for Korean Online Shoppers

Mobile Devices More Popular Than Desktop PCs for Korean Online Shoppers

SEOUL, Mar. 7 (Korea Bizwire) – Over half of South Korean consumers now shop online through a mobile device, rather than a desktop computer, according to Statistics Korea. In January of this year, online shopping through mobile devices accounted for more than 58 percent of all online sales in South Korea, the highest percentage since records [...]

No More Trickle-Down Effects from Big Business in Korean Economy

No More Trickle-Down Effects from Big Business in Korean Economy

SEOUL, Feb. 23 (Korea Bizwire) – Trickle-down effects from major South Korean businesses, creating a flow of benefits to smaller companies, are becoming less perceptible.  In a report announced Wednesday by the Korea Small Business Institute, researchers said that “there’s now very little trickle-down effects between big companies and SMEs,” based on a statistical analysis [...]