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S. Korean Duty-Free Sales Reach Record High in 2017 Despite THAAD Row

S. Korean Duty-Free Sales Reach Record High in 2017 Despite THAAD Row

SEOUL, Jan. 17 (Korea Bizwire) – Sales at South Korean duty-free stores reached an all-time high last year, despite a sharp drop in the number of foreign tourists following a diplomatic row between Seoul and Beijing over a U.S. anti-missile system, customs data showed Wednesday. Combined sales to foreigners at 48 local duty-free shops came to 14.5 trillion won (US$13.6 billion) in 2017, up 17.9 percent from 12.3 trillion won tallied the previous year, according to [...]

Gov’t to Launch 2.6 tln-won Investment Fund for Startups This Year

Gov’t to Launch 2.6 tln-won Investment Fund for Startups This Year

SEJONG, Jan. 17 (Korea Bizwire) — The government will launch a 2.6 trillion-won (US$2.45 billion) investment fund for startups this year, the first portion of a proposed 10 trillion-won investment fund that is to be created by 2020, the finance ministry said Wednesday. Earlier, the government said it will allocate 30 trillion won over the [...]

Tongyeong Mulls Building Longest Cable Car in South Korea

Tongyeong Mulls Building Longest Cable Car in South Korea

TONGYEONG, Jan. 8 (Korea Bizwie) — The picturesque port city of Tongyeong is considering the construction of another cableway, which could end up being the longest cable car line in South Korea. The new cable car project connecting Mireukdo Island and Hansando Island, and spanning a distance of 23.4 kilometers comes after the success of local [...]

Foreigners’ Satisfaction with Korean Food Lowest in Japan: Poll

Foreigners’ Satisfaction with Korean Food Lowest in Japan: Poll

SEOUL, Jan. 8 (Korea Bizwire) — Foreigners satisfaction over traditional Korean food, known as hansik in Korea, was the lowest in the neighboring country of Japan, poll showed Monday, amid frayed ties between the two countries over a number of diplomatic issues. Japanese people’s awareness of Korean food came at 32.8 percent, compared to the [...]

Hwacheon Ice Fishing Festival Banking on Night Events to Attract Tourists

Hwacheon Ice Fishing Festival Banking on Night Events to Attract Tourists

HWACHEON, Jan. 4 (Korea Bizwire) – The Hwacheon Sancheoneo Ice Festival is back this year with extended nighttime events in an all-out bid to attract a record number of visitors. Just in time for Hwacheon’s famous trout fishing festival, which kicks off this weekend, the Hwacheon County Government has announced plans for a number of evening [...]