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In-flight Duty-free Sales Rise Despite Opening of Airport Duty-free Stores

In-flight Duty-free Sales Rise Despite Opening of Airport Duty-free Stores

SEJONG, Oct. 13 (Korea Bizwire) — In-flight duty-free sales rose between June and September this year, data showed Sunday, defying market expectations that they may decline after the opening of on-arrival duty-free shops. South Korea’s first on-arrival duty-free stores opened at Incheon International Airport in late May in a bid to reduce discomfort experienced by [...]

Korean Shippers Set to Join Hands to Win Huge LNG Shipping Orders from Qatar

Korean Shippers Set to Join Hands to Win Huge LNG Shipping Orders from Qatar

SEOUL, Oct. 13 (Korea Bizwire) — South Korean shippers are considering joining hands to win massive liquefied natural gas (LNG) transportation orders to be placed by Qatar, industry sources said Sunday. Five bulkers — reportedly Korea Line Corp., Pan Ocean Co., SK Shipping Co., Hyundai LNG Shipping Co. and H-Line Shipping Co. — are set [...]

Food Theft Tampers Enthusiasm for Delivery Services

Food Theft Tampers Enthusiasm for Delivery Services

SEOUL, Oct. 11 (Korea Bizwire) — Recently, the food service industry has taken a new leap forward, with the convenience of online to offline delivery apps. However, critics are pointing out some of the side effects of fast-growing delivery service – employees who eat customers’ food and share tips for free meals, a serious matter. [...]

Japanese Advertising in S. Korea Shrinks by 76 pct Following Boycott

Japanese Advertising in S. Korea Shrinks by 76 pct Following Boycott

SEOUL, Oct. 11 (Korea Bizwire) — Advertisements of Japanese products in South Korea have plummeted following Japan’s export restrictions imposed against South Korea. Media Audit Korea, a South Korean media management firm, reported that Japanese advertisements in the country’s top four media platforms including television, radio, newspaper, and magazines turned out to have spent 7.2 [...]

Woongjin Coway Sale Takes New Turn After Netmarble Makes Bid

Woongjin Coway Sale Takes New Turn After Netmarble Makes Bid

SEOUL, Oct. 11 (Korea Bizwire) — The sale of Woongjin Coway Co., South Korea’s largest home appliance rental service provider, has taken a turn after the country’s top mobile gaming company Netmarble Corp. made an unexpected bid, industry insiders said Friday. Netmarble and the U.S. private equity firm Bain Capital were the two final bidders [...]

Daewoo Shipbuilding Bags 1.1 tln-won Deal to Build Upgraded Submarine

Daewoo Shipbuilding Bags 1.1 tln-won Deal to Build Upgraded Submarine

SEOUL, Oct. 11 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder in South Korea, said Friday it has signed a deal worth 1.1 trillion won (US$924 million) to design and build an upgraded submarine for the country’s Navy. Under the deal with the Defense Acquisition Program Administration (DAPA), Daewoo Shipbuilding will [...]

Tech Startups Bring Changes to Conservative Construction Sector

Tech Startups Bring Changes to Conservative Construction Sector

SEOUL, Oct. 11 (Korea Bizwire) — The construction segment, traditionally considered to be somewhat conservative and manpower-reliant, is bracing for a change with more and more tech startups in queue to instill a new breath into the industry — digitalization that could boost efficiency and productivity. According to data from the Korea Institute of Startup [...]

S. Korea Unveils Plan to Boost Ocean Industry

S. Korea Unveils Plan to Boost Ocean Industry

SEJONG, Oct. 10 (Korea Bizwire) — South Korea on Thursday unveiled an ambitious project to develop its marine biotechnology industry and other relevant sectors into multi-billion dollar businesses. Under the project, South Korea will expand the scope of its underwater exploration for marine resources from its coasts to its exclusive economic zone. South Korea — [...]