SEOUL, Jan. 8 (Korea Bizwire) — A declining population is leading local authorities to come up with new policies as the plunging birth rate threatens to undermine the competitiveness of a number of cities, and could even lead to their dissolution. The southeastern city of Changwon is stepping up to offer special loans to stimulate the [...]
SUWON, Jan. 8 (Korea Bizwire) — As the Bitcoin price continues to rise, bitcoin assets generated by criminal activities and later confiscated by the government will be incorporated into the state treasury after two years of waiting. Bitcoins confiscated by the prosecution following the country’s first supreme court decision permitting the confiscation of bitcoins in [...]
SEOUL, Jan. 8 (Korea Bizwire) — Samsung Electronics Co.’s upcoming new smartphone, the Galaxy S21, may be its cheapest-ever 5G flagship mobile device, industry sources here said Friday, as the company tries to boost handset sales against rival brands. According to the sources, Samsung could release the Galaxy S21 at a price tag of under [...]
SEOUL, Jan. 8 (Korea Bizwire) — Shares in Hyundai Motor Co. soared by nearly 20 percent on Friday as the South Korean carmaker is in talks with Apple Inc. for potential partnership in developing electric cars and batteries. Hyundai Motor jumped 19 percent to 246,000 won, far outperforming the broader KOSPI’s 4 percent gain. “We’ve [...]
SEOUL, Jan. 8 (Korea Bizwire) — LG Electronics Inc. on Friday said it has signed a partnership with South Korea’s top internet portal operator Naver Corp. to enter the remote learning service business amid the pandemic. Under the deal, the two sides will develop a notebook dedicated to Naver’s online education platform Whale Space. Tentatively [...]
SEOUL, Jan. 7 (Korea Bizwire) — Global consumers picked kimchi as their most preferred Korean dish, a poll showed Thursday, amid the growing popularity of traditional Korean food, known as hansik, in line with the boom of the country’s pop culture around the world. Nearly 34 percent of the respondents said they preferred eating kimchi, [...]
SEOUL, Jan. 7 (Korea Bizwire) — Major foreign investment banks (IBs) have slightly raised their forecasts for South Korea’s economic growth for 2021 despite the coronavirus pandemic, a report showed Thursday. As of end-December, nine major global IBs, including Barclays and Goldman Sachs, forecast the South Korean economy to grow 3.4 percent this year, up [...]
SEOUL, Jan. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday it will extend the expiration dates of mileage that expired at the end of 2020 and mileage that expires at the end of 2021 to 2022 amid the coronavirus pandemic. In June, Korean Air already extended mileage points due [...]
SEOUL, Jan. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday its shareholders approved a plan to change the company’s articles of association to help finance its planned acquisition of smaller rival Asiana Airlines Inc. In an extraordinary shareholders’ meeting, 70 percent of the Korean Air stakeholders voted for the [...]
SEOUL, Jan. 6 (Korea Bizwire) – SK Innovation Co., a South Korean refinery-to-battery company, plans to issue a green bond worth 1.09 trillion won (US$1 billion) to expand its electric vehicle (EV) battery manufacturing capacity in the United States, officials said Wednesday. SK battery America Inc., the Korean firm’s U.S. subsidiary, will issue the green bond, [...]