SEOUL, Nov. 8 (Korea Bizwire) – According to a new study released on November 7 by the Korea CXO Research Institute, employees at Korea’s top 100 companies face steep odds in reaching executive positions, with chances falling below 1%. The study, which examined promotion possibilities at the country’s 100 largest listed companies by revenue, revealed that [...]
SEOUL, Nov. 8 (Korea Bizwire) – In a significant move that cements his position among South Korea’s most successful entrepreneurs, Bom Kim, the founder and executive chairman of Coupang, has announced plans for a major stock sale, fourteen years after founding the company and three years after its landmark NYSE debut. Kim, who moved to the [...]
SEOUL, Nov. 8 (Korea Bizwire) — South Korea kicked off its largest-ever annual shopping event Friday amid efforts to boost private spending and promote tourism. The Korea Sale Festa, South Korea’s equivalent of Black Friday, will be held both online and in stores nationwide through Nov. 30, with around 2,600 companies participating, according to the [...]
BUSAN, Nov. 7 (Korea Bizwire) – The Busan Port Authority (BPA) announced on November 6 that it is launching a project to develop technology that will enable remote, unmanned operation of currently manned harbor cranes. Container port cranes, which are essential equipment for cargo handling operations, are divided into quay cranes that load and unload containers [...]
GWANGJU, Nov. 7 (Korea Bizwire) – Major restaurant chains are increasingly incorporating regional agricultural and seafood products into their new menu items, creating a win-win situation that benefits both local farmers and corporate image. South Jeolla Province announced on November 6 that Banolim Pizza will launch its Yeongam Fig Gorgonzola Pizza featuring Yeongam figs and Goheung [...]
SEOUL, Nov. 7 (Korea Bizwire) — McDonald’s Korea, the local unit of fast-food giant McDonald’s Corp., will reintroduce tomatoes to its burgers from next week after temporarily removing them due to a shortage caused by recent weather conditions. The company had suspended the use of tomatoes in some of its hamburgers on Oct. 15, citing [...]
SEJONG, Nov. 7 (Korea Bizwire) – The Seoul Main Customs Office announced on November 6 that it had caught 13 dentists who smuggled 11,349 pieces of unauthorized dental equipment (worth approximately 140 million won) into South Korea and used them on patients. The dentists are accused of making 1,184 separate purchases of dental equipment through AliExpress [...]
SEOUL, Nov. 7 (Korea Bizwire) – The South Korean government is set to lower barriers for foreign investment in the Saemangeum reclamation project, one of the country’s largest infrastructure developments, according to a joint announcement on November 6 by the Ministry of Land, Infrastructure and Transport and the Saemangeum Development and Investment Agency. Under current regulations, [...]
SEOUL, Nov. 7 (Korea Bizwire) – South Korea’s beer industry is witnessing a significant shift in packaging as major breweries embrace clear bottles, marking a departure from traditional colored glass containers. The trend began in 2021 when Oriental Brewery (OB) introduced the country’s first domestically produced beer in clear bottles with its Cass Fresh brand. The [...]
SEOUL, Nov. 6 (Korea Bizwire) – Pizza Hut Korea filed for court receivership after being ordered to pay billions of won in damages following a lawsuit by franchise owners, marking a significant downturn for the once-prominent pizza chain in South Korea. The company submitted its application for bankruptcy protection to the Seoul Bankruptcy Court on November [...]