SEOUL & ROMA, Jun. 23 (Korea Bizwire) – A “Statue of Peace” commemorating victims of wartime sexual slavery was unveiled on the Mediterranean coast of Sardinia on June 22, immediately igniting a diplomatic dispute. The statue, erected in the town of Stintino, faced challenges from its inception, reflecting the ongoing tensions surrounding these memorials worldwide [...]
SEOUL, Jun. 21 (Korea Bizwire) – A dispute over the ownership of a pet dog has revealed conflicting rulings in South Korean courts, leaving the final determination to the nation’s Supreme Court. On June 20, according to legal sources, the Seoul High Court Civil Division overturned a lower court’s ruling in a lawsuit filed by Mr. [...]
SEOUL, Jun. 21 (Korea Bizwire) – The ongoing economic struggles faced by many South Korean households due to high interest rates and inflation have led to a surge in credit card debt, surpassing 40 trillion won last month. Additionally, the use of “balance transfer” loans, which allow borrowers to consolidate debt from one credit card to [...]
DAEGU, Jun. 19 (Korea Bizwire) – A hotel fitness center in Daegu, South Korea, has ignited a controversy after imposing restrictions on members aged 76 and older, citing safety concerns. According to news reports on June 18, a notice posted at the entrance of a four-star hotel’s health club in Bango-dong stated that “due to frequent [...]
SEOUL, June 18 (Korea Bizwire) – The expected entry of China’s BYD Auto Co. into the South Korean consumer electric vehicle (EV) market this year will likely intensify competition within the low-cost segment of the market, which globally has seen a stagnation in growth as of late due to the so-called EV adoption chasm, according [...]
SEOUL, Jun. 17 (Korea Bizwire) – In a bold move that has sparked speculation in South Korea’s e-commerce industry, Coupang, the country’s largest online retailer, has hinted at the possibility of suspending its much-lauded “Rocket Delivery” service. This threat comes in the wake of the company being slapped with a record 140 billion won fine by [...]
SEOUL, Jun. 17 (Korea Bizwire) – As electric vehicles (EVs) with extended driving ranges enter the mainstream South Korean market, consumers’ interest in battery technology—a crucial factor determining an EV’s range—is expected to intensify. Some industry observers predict that the proliferation of affordable EVs could ignite fierce competition in battery development. According to auto industry analysts, [...]
SEOUL, June 16 (Korea Bizwire) – Household loans extended by five major lenders in South Korea have risen more than 2.1 trillion won (US$1.5 billion) so far this month, industry data showed Sunday. Outstanding household loans extended by the five top lenders reached 705.4 trillion won as of June 13, compared with 703.2 trillion won [...]
SEOUL, June 14 (Korea Bizwire) – The number of South Koreans taking their own lives soared nearly 34 percent in January from a year earlier, data showed Friday. The number of suicides reached 1,321 in January, an increase of 334 from the previous year, according to data from the Ministry of Health and Welfare, which [...]
SEOUL, Jun. 14 (Korea Bizwire) – An analysis by the American consulting firm Act-Geo of seismic data from a deep-water energy exploration project in the East Sea has sparked controversy, with questions emerging about the verification process and accuracy of claims made by the firm’s adviser. Vitor Abreu, an adviser to Act-Geo, which was hired to [...]