SEOUL, April 11 (Korea Bizwire) — President Moon Jae-in said Monday that he expects to communicate with people on his post-presidential life via Twitter, as the number of followers of his account surpassed 2 million. “After retirement, I look forward to having a conversation about new life out of politics (via Twitter),” Moon said in [...]
SEOUL, April 11 (Korea Bizwire) — South Korea’s personal pension savings grew 5 percent in 2021 as younger people have keen interest in making preparations for post-retirement life, data showed Monday. The country’s personal pension savings reserves came to 160.1 trillion won (US$130.2 billion) last year, up from the previous year’s 152.5 trillion won, according [...]
SEOUL, April 11 (Korea Bizwire) — Retired U.S. Army Col. William E. Weber, a highly decorated Korean War veteran noted for his dedicated efforts to help American people remember the 1950-53 conflict, called “The Forgotten War,” has passed away. He was 97. Weber reportedly died at his residence in Maryland on Saturday (local time). During [...]
SEOUL, April 11 (Korea Bizwire) — Automotive sales channels that have been limited to offline dealers are now expanding towards retail industries, including large discount stores and online malls, amid a shift in the automotive retail paradigm. Large discount store chains E-Mart Inc. and Homeplus Co. each set up a showroom for Hyundai Motor Co.’s [...]
SEOUL, April 10 (Korea Bizwire) — South Korea plans to launch its first homegrown spy satellite in 2023 atop a rocket from U.S. commercial space firm SpaceX under a project to place five such satellites into orbit by 2025, Seoul officials said Sunday. The state-run Korea Aerospace Research Institute and Agency for Defense Development have [...]
SEOUL, April 10 (Korea Bizwire) — Hanwha Systems, a South Korean defense firm, has unveiled a radar prototype for the long-range surface-to-air missile (L-SAM) interception system under development, in a sign of progress in the country’s missile defense technology. The company revealed to reporters the prototype of the multi-function radar (MFR) at its research center [...]
SEOUL, April 10 (Korea Bizwire) — Over 1 in 5 vehicles sold by Hyundai Motor Co. and its smaller affiliate Kia Corp. so far this year have been eco-friendly cars, backed by their growing popularity, industry data showed Sunday. The two South Korean automakers sold a combined 64,417 hybrid and electric vehicles in the January-March [...]
SEOUL, April 9 (Korea Bizwire) — Ssangbangwool Group, a South Korean underwear company, said Friday it has submitted a letter of intent (LOI) to buy the debt-ridden automaker SsangYong Motor. Ssangbangwool’s bid came as a deal to buy SsangYong Motor by local electric bus and truck maker Edison Motors Co. collapsed late last month after [...]
SEOUL, April 8 (Korea Bizwire) — A significant percentage of young adults who haven’t received any COVID-19 vaccinations have no plans to take them in the future. The National Youth Policy Institute conducted a survey of 4,347 teenagers and young adults between 9 and 24 years of age, in which 16.4 percent had been vaccinated [...]
SEOUL, April 8 (Korea Bizwire) — The presence of Korean literature is growing widely in the world as local translations have won or been nominated for multiple prizes from literature awards outside of the country. An English translation of Chung Bora’s “Cursed Bunny” published by British publisher Honford Star was chosen as one of the [...]