SEOUL, Jun. 22 (Korea Bizwire) — South Korea’s tallest skyscraper built by retail giant Lotte Group received a green building certificate from a U.S.-based environment organization, Lotte Corp. said Wednesday. The 123-story Lotte World Tower received a Gold rating in the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) system, the conglomerate [...]
SEOUL, June 21 (Korea Bizwire) – Amidst concerns that an increasingly aging population coupled with low birth rates will cause a population crisis, current data indicates that the Busan Metropolitan Area is the South Korean region most likely to be harmed by the demographic changes. On June 20, the Korea Research Institute for Local [...]
SEOUL, Jun. 19 (Korea Bizwire) — Loans taken out to finance facility expansions reached an all-time high in March, in line with a recovery in exports and the global economy, data showed Sunday. According to the data compiled by the Bank of Korea, facility loans reached a record 404.87 trillion won (US$356 billion) as of [...]
SEOUL, Jun. 19 (Korea Bizwire) — South Korean companies’ earnings for the second quarter of the year are forecast to be higher than earlier expected on the back of improving business conditions, industry data showed Sunday. According to the data compiled by industry tracker FnGuide, the combined operating income of 155 major listed firms here [...]
SEOUL, June 16 (Korea Bizwire) – South Korea’s won currency is likely to remain steady for the time being, despite U.S. Federal Reserve’s move to tighten its monetary policy, analysts here said Friday. The won has risen 6.9 percent against the U.S. dollar so far this year, and the local currency market showed a muted [...]
SEOUL, June 16 (Korea Bizwire) – The property value of South Korean homes has risen sharply in recent years, data showed Thursday, amid the previous government’s policy to prop up the country’s housing market. The value of homes in the country stood at over 3,732 trillion won (US$3.32 trillion) as of late last year, up [...]
SEOUL, Jun. 15 (Korea Bizwire) — Amid growing global interest in the safety and eco-friendly benefits offered by wood buildings, the Korea Forest Service is pitching the pros of wood building to the South Korean construction market, with plans to build a number of tall buildings using structural wood in the next five years. Speaking to [...]
SEOUL, June 13 (Korea Bizwire) – The chief of South Korea’s central bank on Tuesday renewed his stance to maintain the current monetary easing policy to support growth despite a possible U.S. rate hike this week. “As I mentioned yesterday, we will maintain the accommodative monetary policy to help out with economic recovery. We cannot [...]
SEJONG, June 13 (Korea Bizwire) – The South Korean government vowed Tuesday to take all necessary measures to deal with growing U.S. barriers against its trade surplus and steel products. “As the U.S. government has been moving to strengthen trade restrictions and raise barriers, all government ministries need to formulate countermeasures against such developments,” Deputy [...]
SEOUL, June 13 (Korea Bizwire) – The accumulated investment made by South Korean companies in Vietnam topped the US$50 billion mark as of 2016, with local businesses emerging as the No. 1 foreign investors in the Southeast Asian economy, industry data showed Monday. According to the data compiled by the Korea Trade-Investment Promotion Agency (KOTRA), [...]