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Protectionism Puts Korea Inc. in a Fix

Protectionism Puts Korea Inc. in a Fix

SEOUL, Jun. 13 (Korea Bizwire) — Escalating global protectionism, sparked by a Sino-American trade war, has put corporate Korea in a tight spot as it is feared to take a toll on exports, a key growth engine for Asia’s fourth-largest economy, industry sources said Friday. The United States and China, the world’s two largest economies, [...]

Shipbuilding Subcontractors Ask Gov’t to Investigate Illegal Practices by Major Players

Shipbuilding Subcontractors Ask Gov’t to Investigate Illegal Practices by Major Players

SEOUL, Jul. 12 (Korea Bizwire) — Subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, and Samsung Heavy Industries, the three largest players in the nation’s shipbuilding industry, have asked the Korea Fair Trade Commission (KFTC) to carry out an in-depth investigation into illegal practices among the ‘big three’. A single committee instigated [...]

Starbucks Coffee Korea Slapped with 10mln-Won Fine

Starbucks Coffee Korea Slapped with 10mln-Won Fine

SEOUL, Jul. 11 (Korea Bizwire) — South Korea’s communications regulator has slapped a 10 million-won (US$9,000) fine on Starbucks Coffee Korea Co. for breaching personal information of hundreds of its customers, an official said Wednesday. The Korea Communications Commission said IDs, nicknames and mobile phone numbers of 537 people were disclosed due to a technical [...]

Ginseng Consumption Fosters Cognitive Abilities in Senior Citizens: Study

Ginseng Consumption Fosters Cognitive Abilities in Senior Citizens: Study

SEOUL, Jul. 11 (Korea Bizwire) — A new study has found that people who consume ginseng on a regular basis have better cognitive abilities than those who do not. A medical research team at the Seoul National Unversity Bundang Hospital led by Prof. Kim Gi-ung revealed yesterday that the team had observed 6,422 senior citizens [...]

Eating at Home Up After Start of Shortened Workweek

Eating at Home Up After Start of Shortened Workweek

SEOUL, Jul. 11 (Korea Bizwire) — Sales of coupons that can be used at restaurants have declined, newly released data showed Wednesday, a sign that South Koreans are eating more meals at home following the implementation of a shortened workweek. The data compiled by G-Market, a big online shopping platform, showed that sales of e-coupons [...]

Conglomerates Rushing to Bolster Hotel Businesses

Conglomerates Rushing to Bolster Hotel Businesses

SEOUL, Jul. 11 (Korea Bizwire) — South Korean conglomerates are scrambling to bolster their hotel businesses or build new hotels as part of efforts to achieve positive synergy for their flagship businesses, industry sources said Wednesday. Shinsegae Chosun Hotel Inc., the accommodation arm of retail giant Shinsegae Group, plans to open a boutique hotel with [...]

Lotte Duty Free Bolsters Overseas Biz amid Fierce Competition at Home

Lotte Duty Free Bolsters Overseas Biz amid Fierce Competition at Home

SEOUL, Jul. 11 (Korea Bizwire) — South Korea’s No. 1 duty-free shop Lotte Duty Free is ramping up efforts to expand its presence in the global market in the face of fierce competition at home, industry sources said Wednesday. The duty-free chain, operated by Hotel Lotte Co., opened a new airport outlet in Nha Trang, [...]