SEJONG, Jan.24 (Korea Bizwire) – The government has decided to implement a ‘comprehensive consumer support system’ in the form of a new smartphone application. More than 10 million pieces of product information, and 75 consumer redress services will be gathered in the new app. The Fair Trade Commission (FTC) has revealed detailed plans to create [...]
SEOUL, Jan.21 (Korea Bizwire) – A recent report from a Korean consumer protection agency reveals that the prices of imported fruit, wine, beer and Starbucks coffee in Korea are much more expensive than in other countries. According to Consumers Korea, the domestic prices of imported grapes, wine, and domestic pork belly were among the highest [...]
SEOUL, Jan. 21 (Korea Bizwire) – South Korea officially kicked off its multi billion-dollar project Thursday to produce homemade fighter jets over the next decade. Under the Korean Fighter Experimental (KF-X) project by the Defense Acquisition Program Administration, contractor airplane maker Korea Aerospace Industries Ltd. (KAI) will come up with six units of a homegrown [...]
SEOUL, Jan.21 (Korea Bizwire) – Personal transportation means such as Segways, drones, and smart devices were increasingly launched in the domestic market last year. An analysis of the suitability status evaluation of broadcasting communication equipment was conducted by the Ministry of Science, ICT and Future Planning. Suitability status evaluation is a policy to test and [...]
SEOUL, Jan. 21 (Korea Bizwire) – The global market for Ultra HD (UHD) TVs is set to lead the global TV industry throughout 2016, data showed Thursday, beating its full HD rivals in market share for the first time. According to the data compiled by industry tracker IHS, UHD TVs are expected to take up [...]
SEOUL, Jan. 21 (Korea Bizwire) – South Korea’s major pharmaceutical companies are poised to sharply expand their spending on research and development (R&D) in 2016, taking a page from Hanmi Pharmaceutical Co.’s aggressive investment that has led to a series of mega-hit licensing deals, industry sources said Thursday. Of the country’s top 10 drug companies [...]
SEOUL, Jan.20 (Korea Bizwire) – An investigation has revealed that 4 out of 10 bidets manufactured in China lack or have poor flame retardant agents, and could cause burns to a user’s bottom. According to the China Economic Daily, the government investigated bidets from 45 companies manufactured in 15 cities, and discovered that 40 percent [...]
SEOUL, Jan. 20 (Korea Bizwire) – The outbreak of Middle East Respiratory Syndrome (MERS) in South Korea last year caused duty-free purchases made by foreigners to decline, despite overall sales going up thanks to solid rise in outbound travelers, data showed Wednesday. Sales to foreigners inched down 0.6 percent on-year to US$5.41 billion, the Korea [...]
SEOUL, Jan. 20 (Korea Bizwire) - Haitai Confectionery & Foods Co., South Korea’s second-biggest confectionery, said Wednesday it is preparing for an initial public offering this year, taking advantage of the huge success of its honey-flavored potato chips. Haitai said it has made deals with two local brokerage houses to list its shares on the Seoul [...]
SEOUL, Jan. 20 (Korea Bizwire) – What’s your favorite way to eat dried seaweed? If you are a Korean, you may want to have a bowl of rice with dried seaweed, roasted with sesame oil and fine salt, and kimchi. Dried seaweed pressed into a dark green sheet is called “kim,” a homonym for the [...]