SEOUL, April 14 (Korea Bizwire) — Hermes Korea said Friday that its net profit rose 22.7 percent in 2022 from a year earlier amid an ongoing trend of high-end fashion brands continuing their profit streak in South Korea. The South Korean arm of the French high-end fashion house reported a net income of 153.8 billion [...]
SEOUL, April 12 (Korea Bizwire) — “Secluded youth” that isolated from the outside world and incapable of carrying out a normal life will now be able to receive living stipends and medical support from the government. The Ministry of Gender and Equality said Tuesday that the amendment bill for the Youth Welfare Support Act’s enforcement [...]
SEOUL, April 10 (Korea Bizwire) — South Korea is becoming a ferocious battlefield of high-end imported cars after setting a new sales records this year. Porsche AG sold 2,966 vehicles in South Korea for the first quarter of this year, the most it has sold in a single quarter since 2014 when the company launched [...]
SEOUL, April 10 (Korea Bizwire) — South Korean authorities are convening a high-level “Council of Related Agencies Responding to Drug Crimes” on Monday to tackle the growing number of drug-related incidents, including the recent case in which beverages laced with narcotics were handed out to students at cram schools in Seoul’s Gangnam district. The meeting, [...]
SEOUL, April 9 (Korea Bizwire) — Growing concerns are being raised over the Japanese government’s apparent “regression in historical awareness.” This issue was highlighted once again with the approval of elementary school textbooks that contain deteriorated descriptions of forced labor and Dokdo, which may pose a significant obstacle to future Korea-Japan relations. Another issue that [...]
SEOUL, April 9 (Korea Bizwire) — Nearly half of single-member households were in the poor class and the proportion among senior citizens came to nearly 70 percent, a report showed Sunday. The relative poverty rate of one-person households came to 47.2 percent in 2020, compared with 15.3 percent for all households, according to the report [...]
SEOUL, April 7 (Korea Bizwire) — The number of teenage drug offenders more than octupled in South Korea last year compared with about a decade earlier, a minor opposition party said Friday. Teenagers apprehended for using drugs totaled 481 last year, jumping more than eight times from 58 in 2013, the Justice Party said, citing [...]
SEOUL, April 7 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. have announced their preliminary first-quarter results, and the outcome is a mixed bag. Samsung Electronics suffered a record earnings shock with its operating profit plummeting to a historic low, not only in comparison to LG Electronics but also to LG Energy Solution [...]
SEOUL, April 2 (Korea Bizwire) — Large companies listed on the South Korean main KOSPI bourse will be required to begin issuing key regulatory filings in English next year, the country’s financial and stock exchange regulators said Sunday. According to the Financial Services Commission (FSC) and the Korea Exchange, companies with at least 10 trillion [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s semiconductor industry is complaining over the U.S. CHIPS and Science Act for requiring companies to submit information about production yield, which is regarded as sensitive and confidential data within the industry. Earlier this week, the U.S. Commerce Department released new requirements for chipmakers seeking federal grants for [...]