SEOUL, Aug. 5 (Korea Bizwire) – Wih China staging live-fire military drills around Taiwan on Thursday in response to U.S. House Speaker Nancy Pelosi’s visit to the island, South Korean airlines are facing an operational setback. Korean Air Lines Co., South Korea’s national flag carrier operating direct flights to Taiwan five times a week, has [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea plans to raise the limit of the duty-free allowance for inbound travelers to US$800 per person from the current $600, the finance ministry said Friday. Currently, international arrivals — both Korean nationals and foreigners — can receive tax exemptions for the purchase of items worth up to [...]
SEOUL, Aug. 5 (Korea Bizwire) — As high inflation continues, an increasing number of South Koreans are turning to simple meals at discount stores. E-Mart Inc., a discount store chain under Shinsegae Group, saw the sales of simple meals such as sandwiches, salads and gimbap (seaweed rice rolls with vegetables) jump by 25 percent in [...]
SEOUL, Aug. 5 (Korea Bizwire) — The Korea Agro-Fisheries & Trade Corp. (aT) said Thursday that an academic paper written by its researchers on the body fat reduction effect of red pepper paste, called “gochujang” in Korean, had been published in the international academic journal Nutrients. aT carried out the study in collaboration with the [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea’s four major telecom operators said Thursday that they had formed a business tie-up to ensure a joint response to the restoration and prevention of telecommunications service damages caused by natural disasters. When damages occur due to natural disasters, the four companies — SK Telecom Co., KT Corp. [...]
SEOUL, Aug. 5 (Korea Bizwire) — Major oil refiner GS Caltex Corp. has teamed up with the Korean unit of Swiss food giant Nestle to establish a circular economy, aimed at promoting resource efficiency and carbon reduction. GS Caltex and Lotte-Nestle Korea Ltd. on Thursday formed a business agreement to promote the recycling of waste [...]
SEOUL, Aug. 4 (Korea Bizwire) — So-called “adult entertainment detectives,” who provide the service of tracking down men frequenting adult entertainment establishments, are starting to resurface after remaining out of the public eye for the past few years. They work by receiving requests through Telegram, KakaoTalk’s open chat rooms and other social networking channels to [...]
SEOUL, Aug. 4 (Korea Bizwire) — The recent sharp job growth in South Korea was mostly driven by increased employment among youngsters and senior citizens, a central bank report said Thursday. “The economically-active population has exceeded pre-pandemic levels,” the Bank of Korea (BOK) said in the report. “In particular, increased labor supplies by youths and [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea will provide various forms of support to help local financial firms more actively use fast-advancing artificial intelligence (AI) technology in their businesses, a top financial regulator said Thursday. In a meeting with major financial and tech companies in Seoul, Kim So-young, vice chair of the Financial Services [...]
SEOUL, Aug. 4 (Korea Bizwire) — As non-face-to-face consumption has become a daily routine following the onset of the COVID-19 pandemic, South Korean consumers are using mobile payment services more than actual debit or credit cards, a poll showed Wednesday. According to an online survey conducted by the Korea Consumer Agency of 1,500 consumers who [...]