SEOUL, March 24 (Korea Bizwire) – The South Korean government plans tospend 30 billion won (US$26.8 million) to promote content makers this year, the Korea Creative Content Agency (KOCCA) said Thursday. The budget will be spent on content creators in six categories — animation, cartoon, character, story, music and fashion, said the agency under the Ministry of Culture, Sports and Tourism. By category, the biggest chunk is reserved for [...]
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 [...]
SEOUL, March 23 (Korea Bizwire) – Korean Air Lines Co., South Korea’s No. 1 airline, said Thursday it will increase flights on international routes and add fuel-efficient planes on the routes to help buoy its bottom line. In the coming months, Korean Air plans to gradually expand flights on routes to major cities in Europe [...]
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 [...]
SEOUL, March 22 (Korea Bizwire) – SK-affiliated ventures are dominating the loyalty mobile application market in South Korea, according to a recent survey released yesterday. Among Android smartphone users – who account for 80 percent of all smartphone owners in the country – SK Planet’s Syrup Wallet proved most popular with nearly 4.5 million monthly [...]
SEOUL, March 22 (Korea Bizwire) – Brazilian chicken has been taken off the shelves of three major supermarket chains in South Korea after controversy broke out surrounding rotten chicken meat imported from Brazil’s BRF, the world’s largest poultry exporter. Brazilian chicken accounts for 83 per cent of all imported poultry products in South Korea, with [...]
SEOUL, March 22 (Korea Bizwire) – South Korean telecommunications giant SK Telecom has partnered with The Pokémon Company for a joint marketing venture, temporarily offering a zero-rating on Pokémon GO until June. This means that players will not be charged for mobile data that they use while playing the AR game, although officials said data [...]
SEOUL, March 21 (Korea Bizwire) – Those insured who don’t smoke or have normal blood pressure will now be able to get discounts on their premiums, as part of the government’s effort to encourage more healthy people to get on board. The government is focused on spreading the word about existing policies of private insurance [...]
SEOUL, March 21 (Korea Bizwire) – Major South Korean pharmaceutical companies are poised to expand their spending on research and development (R&D) this year despite weak earnings, industry sources said Tuesday. The four drug companies — Hanmi Pharmaceutical Co., Green Cross Corp., Daewoong Pharma and Chong Kun Dang Pharmaceutical Corp. — whose annual R&D spending [...]
SEOUL, March 20 (Korea Bizwire) – Marking its 17th anniversary last year, Starbucks Korea’s annual revenue exceeded 1 trillion won for the first time, and much attention is being paid to what is behind the international coffee giant’s long-lived success in the country. Of the 75 countries that Starbucks currently operates in, only in five [...]