SEOUL, July 20 (Korea Bizwire) – Asiana Airlines was fined 900 million won (US$802,282) for a runway accident two years ago and the pilot responsible stripped of his license, the transport ministry said Thursday while announcing a series of punitive actions against carriers. Korean Air Lines Co. was ordered to pay 600 million won in [...]
SEOUL, Jul. 20 (Korea Bizwire) — Sales of IMAX movie tickets along with 3D and 4D films in South Korea drastically dropped during the first half of the year, a new industry report has revealed. According to the report on the South Korean movie industry released by the Korean Film Council (KOFIC) on Wednesday, the number [...]
SEOUL, Jul. 18 (Korea Bizwire) — As the number of high-spec smartphone users continues to rise in South Korea, and with the music industry eyeing new business models, high quality music downloading and streaming services are no longer the exclusive property of audio system lovers. Similar to how the broadcasting industry has been progressing from [...]
SEOUL, Jul. 17 (Korea Bizwire) — Global streaming service Netflix is rapidly emerging as a promising alternative for the South Korean TV industry, as political tension with China, once the biggest export destination of South Korean TV shows, has put a strain on local content creators. Netflix’s recent purchases of South Korean TV series such as [...]
SEOUL, Jul. 14 (Korea Bizwire) — Once compared to gold mines for their profit generating ability, members only golf club have begun to lose their luster. In the late 90′s, North Chungcheong Province was famous for its premier golf courses. One of them was so well-known, the golf course operated shuttle buses that traversed the country, [...]
SEOUL, July 14 (Yonhap) – Marriott International Inc. will open 16 more hotels in South Korea over the next five years, its vice president said Friday, amid increasing demand from local residents as well as the steady growth of foreign visitors. Vice President Ramesh Daryanani in charge of global sales in the Asia-Pacific region said [...]
SEOUL, Jul. 13 (Korea Bizwire) — With growing hope that the Chinese government’s ban on Korean culture products will be lifted, the entertainment industries of both countries have started to perk up in anticipation. In recent years, the export of Korean culture has become an important source of revenue for the Korean economy, as well as [...]
SEOUL, Jul. 12 (Korea Bizwire) — Things are looking up for workers in the package delivery industry. The South Korean government has recently announced that it will pledge up to 13 billion won by the year 2022 to reform and improve working conditions. A major chunk of the investment will be used to improve the technology [...]
SEOUL, Jul. 10 (Korea Bizwire) — With coffee consumption soaring, coffee shops have become a ubiquitous staple of most South Korean neighborhoods. According to a study on the coffee industry released by the Ministry of Agriculture, Food and Rural Affairs, the average Korean stays caffeinated on 377 cups of coffee a year. Whether the one cup [...]
SEOUL, July 10 (Korea Bizwire) – The head of South Korean retail giant Lotte vowed on Monday to boost the group’s transparent management as it attempts to tide over a string of troubles through a governance shakeup. During an IR session held in Tokyo, Lotte Group chairman Shin Dong-bin said his group will be able [...]