SEOUL, Jan. 8 (Korea Bizwire) — South Korean retail industry is paying attention to wine to somehow attract consumers who are engrossed with their smartphones to brick-and-mortar stores. Wine consumption has been on a steady rise for years. Moreover, selling alcoholic beverages online is illegal in South Korea. In response, the industry is using a [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korea said Tuesday that foreigners are also subject to tightened mortgage rules in a move to plug any possible loopholes in its efforts to stabilize home prices. The Financial Supervisory Service (FSS) said the tightened mortgage rules are being applied to both South Koreans and foreigners. Under last [...]
SEOUL, Jan. 7 (Korea Bizwire) — A dictionary will be published for Cia-Cia tribe, an ethnic minority in Indonesia that adopted Hangul, the Korean alphabet, as its official writing system 10 years ago. The Asia Development Foundation announced on Monday that it will sponsor Jung Deuk-young, 58, a Hangul instructor at Cia-Cia Hangul School, to [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korea’s Hyundai Motor Co. on Tuesday unveiled its personal air vehicle (PAV) concept at the CES tech expo in Las Vegas to promote its smart mobility solutions. Hyundai Motor partnered with U.S. ride-hailing company Uber Technologies Inc. to develop its first concept PAV named the S-A1 capable of [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea’s wealth management services market is rapidly expanding as an increasing number of high-net-worth individuals in Asia’s fourth-largest economy look for reliable, effective means to manage their assets. Private banking (PB) and wealth management services have long been exclusively tailored to a limited number of customers that include [...]
SEOUL, Jan. 6 (Korea Bizwire) — With the newly amended legislation on equal employment, parents will now be able to simultaneously take paid parental leave starting on February 28. A recent study showed that a majority of male office workers are willing to take parental leave, reflecting improving perceptions towards parents raising children together. JobKorea, [...]
SEOUL, Jan. 6 (Korea Bizwire) — As South Korea enters an aged society, the so-called ‘silver’ industry – denoting products and services targeted to seniors – is expected to grow rapidly. Among them, the food industry is expected to be the most promising. In a report released Sunday, the Korea Institute for Industrial Economics and [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea will allow carmakers to sell a vehicle with basic Level 3 self-driving technology in the domestic market from July, the transport ministry said Sunday, claiming that the country is the first to adopt safety standards for the limited self-driving vehicle. The government has adopted a set of [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea is expected to abolish the military guardhouse system this year as part of efforts to better protect the human rights of draftees, officials said Saturday. A revision of the Military Personnel Management Act calls for the abolishment of guardhouses and the establishment of additional educational programs instead [...]
SEOUL, Jan. 3 (Korea Bizwire) — Seocho District in Seoul will introduce artificial intelligence (AI) CCTV technology, which uses criminal statistics information to predict possible crimes, as early as July. The district said Thursday that it is developing related technologies with the Electronics and Telecommunications Research Institute (ETRI), and will apply the technology to some [...]