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Rapid Growth of Dollar Store Giant Daiso Korea a Worry to Small Business Owners

Rapid Growth of Dollar Store Giant Daiso Korea a Worry to Small Business Owners

SEOUL, Aug. 16 (Korea Bizwire) – With South Korean dollar store giant Daiso set to reach two trillion won in sales after 20 years of steady growth since its founding, concerns are growing over the negative impact of its dominance on small local businesses. Marking its 20th anniversary this year, Daiso, which specializes in the [...]

More Egg Products Contaminated with Pesticides, Government Says

More Egg Products Contaminated with Pesticides, Government Says

SEOUL, Aug. 16 (Korea Bizwire) – The South Korean government said Wednesday that eggs from four more farms in the country have been found to be contaminated with harmful pesticides, escalating the health scare over tainted egg products here. Some eggs at a farm with 55,000 hens in Cheorwon, 80 kilometers north of Seoul, were [...]

Hyundai Mobis Develops Bi-directional Onboard EV Charger

Hyundai Mobis Develops Bi-directional Onboard EV Charger

SEOUL, Aug. 16 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, has developed a bi-directional onboard charger loadable on an electric vehicle, the company said Wednesday. The bi-directional onboard charger (OBC) allows an electric car that comes with it to charge itself at a charging station. It also allows the vehicle [...]

Major Pharmaceuticals Expand R&D Spending in H1

Major Pharmaceuticals Expand R&D Spending in H1

SEOUL, Aug. 16 (Korea Bizwire) — Major South Korean pharmaceutical companies expanded their spending on research and development (R&D) during the first half this year, with Hanmi Pharmaceutical Co. allocating the most, industry data showed Wednesday. According to their semi-annual business reports, 10 out of the 15 drug companies spent more on R&D during the [...]

S. Koreans Working Second-longest Hours among OECD Members: Data

S. Koreans Working Second-longest Hours among OECD Members: Data

SEOUL, Aug. 16 (Korea Bizwire) — South Korea has the second-longest average work hours per person, but its wage levels fall under the median among member states of the Organization for Economic Cooperation and Development (OECD), data showed Wednesday. The OECD Employment Outlook 2017, an annual report, said an average South Korean worked 2,069 hours [...]

Electronics Industry Struggling to Overcome Labor Shortage

Electronics Industry Struggling to Overcome Labor Shortage

SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s electronics industry, including semiconductor manufacturers, has been struggling with a shortage of workers, an industry report showed on Tuesday. The findings, released by the Korea Electronics Association, a business lobby group, raised alarm bells for the future of the industry that accounts for about 33 percent of [...]

S. Korea Finds Some Egg Products Contaminated with Pesticide

S. Korea Finds Some Egg Products Contaminated with Pesticide

SEOUL, Aug. 15 (Korea Bizwire) — Some egg products in South Korea have been contaminated with a potentially harmful pesticide, the government said Tuesday, amid a growing health scare in Europe over tainted egg products. Some eggs at a farm with 80,000 hens in Namyangju, east of Seoul, were found to contain the pesticide fipronil [...]

S. Korean Health, Beauty Care Stores Post Solid Growth amid Weak Consumption

S. Korean Health, Beauty Care Stores Post Solid Growth amid Weak Consumption

SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s health care and beauty-related stores are posting solid growth allowing them to consider expanding operations at home and abroad, industry data showed Tuesday. According to findings released by local retailers, health and beauty (H&B) chain stores like Olive Young, GS Watsons and LOHBs have done well, posting [...]