SEOUL, Nov. 3 (Korea Bizwire) – Patent applications pertaining to all-in-one cards registered at the Korea Intellectual Property Office (KIPO) have increased dramatically in the past five years (2012 to 2016). The nation’s patent authority announced that it had received 125 applications, more than four times the 25 it had accepted in the previous five-year [...]
SEOUL, Nov. 2 (Korea Bizwire) – Doosan Bobcat Inc., a construction equipment unit of Doosan Group, said Thursday that its third-quarter net profit increased 16 percent from a year earlier, largely due to hefty sales in China and other emerging markets. Net profit reached 55.2 billion won (US$49.5 million) in the July-September period, compared with [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s 100 richest people own stocks worth more than one third of the country’s national budget amid a recent stock rally, industry data showed Thursday. The value of stocks held by the 100 richest people reached 123.2 trillion won (US$110.5 billion) as of the end of Wednesday, up [...]
SEOUL, Nov. 2 (Korea Bizwire) – The head of the Fair Trade Commission, Kim Sang-jo, announced plans to investigate the management of private foundations owned by major companies, as part of efforts to reform conglomerates and improve transparency, during a policy meeting today. The FTC made the announcement at today’s policy gathering in Seoul with [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korea’s construction sector could suffer a contraction in 2019, a report said Thursday as the government’s moves to stabilize property markets may weigh on new orders. The combined value of construction orders — a leading indicator in the construction sector — posted a 29.5 percent decline in July, [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korea has signed an agreement with the European Investment Bank to export a corporate technology evaluation system, the Ministry of SMEs and Startups said Thursday. The technology evaluation system, developed by the Korea Technology Finance Corp. (KIBO), has been exported to emerging markets, including Vietnam, Thailand and Peru. [...]
SEJONG, Nov. 1 (Korea Bizwire) – South Korea’s exports jumped 7.1 percent in October from a year earlier on the back of strong demand for semiconductors, ships and petrochemical products, government data showed Wednesday. Outbound shipments came to US$45 billion for October, up from $41.9 billion tallied a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy and the [...]
SEOUL, Nov. 1 (Korea Bizwire) – A South Korean think tank on Wednesday revised up its growth outlook for Asia’s fourth-largest economy this year to 3.1 percent, up 0.1 percentage point from its previous estimate in July. The upward revision by the Korea Institute of Finance is higher than growth outlooks estimated by the Korean [...]
SEOUL, Nov. 1 (Korea Bizwire) – Members of the Korea Financial Investment Association (KFIA) gathered in Seoul’s Yeouido financial district on October 31 to announce the test run launch of “Chain ID”, an identification system built on blockchain technology that was described by KFIA Chairman Hwang Young-key as “the world’s first successful attempt in commercializing [...]
SEOUL, Oct. 31 (Korea Bizwire) – Sources within the financial industry reported on October 30 that a coalition of major South Korean banks consisting of KB Kookmin Bank, the Korea Exchange Bank and Nonghyup Bank had filed a $230 million suit against U.S. online retailer Newegg Inc and others in a Los Angeles district court [...]