SEOUL, Sept. 19 (Korea Bizwire) — A government-backed consumer coupon program has driven a notable increase in sales at South Korea’s smallest merchants while also lifting household spending among shop owners, Shinhan Card said Thursday. An analysis by the company’s Big Data Research Center found that after the rollout of the “livelihood recovery consumer coupons,” [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s biggest business families stand to see their dividend tax bills fall by more than 12 percent under the government’s new tax reform, which grants breaks to shareholders of companies classified as “high-dividend.” According to a study released Wednesday by corporate research firm CEO Score, 87 out of [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korea’s antitrust regulator on Thursday conditionally approved a joint venture between Shinsegae Group’s Gmarket and Alibaba’s AliExpress Korea, clearing the way for a new challenger to disrupt a market long dominated by Coupang and Naver. The tie-up, structured as a 50:50 joint company under Grand Opus Holding, will [...]
SEOUL, Sept. 18 (Korea Bizwire) — The U.S. Federal Reserve’s decision to lower its benchmark interest rate for the first time under President Donald Trump is fueling cautious optimism in Seoul’s financial markets, with analysts predicting improved liquidity and renewed foreign inflows — but also warning of lingering risks tied to trade negotiations. On Wednesday [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea and the United States have begun working-level discussions aimed at overhauling the visa system for Korean workers, following the mass detention of more than 300 South Koreans at a Georgia construction site earlier this year — an episode that rattled both industry and diplomacy. The Ministry of [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea could soon face a tipping point where traditional monetary policy loses its potency, Bank of Korea Governor Rhee Chang-yong warned Friday, citing the country’s rapid demographic decline as a structural risk that could push interest rates toward their effective floor. Speaking in Washington at the International Monetary [...]
SEOUL, Sept. 18 (Korea Bizwire) — Thirty years ago, Hyundai Motor Co. was still shedding its image as a latecomer, eager to catch up with established automakers in the United States, Europe and Japan. Today, South Korea’s largest carmaker is aiming to leap ahead, announcing its most ambitious growth strategy yet: a 77.3 trillion won [...]
SEOUL, Sept. 17 (Korea Bizwire) — On the eve of its maiden voyage, Seoul unveiled its long-awaited “Hangang Bus” on Wednesday, positioning the sleek new ferry service as both a commuter option and a lifestyle attraction along the capital’s iconic waterway. At an inauguration ceremony held at Yeouido Pier, Mayor Oh Se-hoon joined lawmakers and local [...]
SEOUL, Sept. 17 (Korea Bizwire) — Naver Corp. said Wednesday it is launching the second round of its “Be Local” campaign, a joint effort with the Korea Tourism Organization to introduce foreign visitors to Korea’s trending restaurants, cafes and cultural spots. The initiative, first tested earlier this year through the Naver Maps app for users [...]
BUSAN, Sept. 17 (Korea Bizwire) — Thirty years ago, Busan was a place better known for its shipyards and sun-splashed beaches than for cinema. The notion that South Korea’s second-largest city would one day play host to one of Asia’s premier film festivals seemed far-fetched, if not fanciful. But in 1996, a small band of cinephiles [...]