SEOUL, April 15, (Korea Bizwire) — South Korea’s TV home shopping industry continues to face mounting financial strain as broadcasting fees soared to consume more than 70 percent of television sales revenue in 2024, despite a modest rise in overall sales. According to a report released Monday by the Korea TV Home Shopping Association, the [...]
SEOUL, April 15 (Korea Bizwire) — The head of South Korea’s financial watchdog has vowed to push ahead with a series of steps to boost fairness and transparency in the capital markets, as well as shareholder value, the Financial Supervisory Service (FSS) said Tuesday. In a meeting with dozens of bankers and financiers in Hong [...]
SEOUL, April 15, (Korea Bizwire) — A new industry survey has found that restaurant franchise owners in South Korea take an average of two years and seven months to recover their initial investment, while more than half continue to pay fees to headquarters long after opening. According to a report released Monday by the Korea [...]
SEOUL, April 15, (Korea Bizwire) — South Korea’s antitrust regulator has penalized a domestic game developer for deceiving players about the odds of winning in-game items, marking a rare move to regulate deceptive practices in the booming online gaming sector. The Korea Fair Trade Commission (KFTC) announced on Monday that it has imposed a corrective [...]
SEOUL, April 15, (Korea Bizwire) — In an effort to protect consumers from online shopping mishaps, the Seoul Metropolitan Government has introduced a new self-assessment service designed to help residents identify and prevent potential e-commerce risks before making purchases. The interactive service, launched through the city’s E-Commerce Center, draws on an extensive database of 7,000 [...]
JEJU, April 15 (Korea Bizwire) — The South Korean government has designated two new marine protected areas off the coast of Jeju Island, including the habitat of the endangered Indo-Pacific bottlenose dolphin, in a major step toward conserving the region’s fragile marine ecosystems. The Ministry of Oceans and Fisheries officially declared on April 11 that the [...]
SEOUL, April 14 (Korea Bizwire) — Two Air Force unit commanders have been booked in relation to an unprecedented mistaken bombing on a civilian town last month, officials said Monday, as the ministry released the interim probe results of the fighter jet accident. On March 6, two KF-16 fighter jets dropped eight MK-82 bombs outside [...]
SEOUL, April 14 (Korea Bizwire) — South Korea’s Public Procurement Service (PPS) and Uzbekistan’s Ministry of Economy and Finance held a bilateral meeting on cooperation in public procurement and signed a memorandum of understanding (MOU) in the Central Asian country last week, the PPS said Monday. The meeting between PPS Administrator Lim Ki-keun and Uzbekistan’s [...]
SEOUL, April 14 (Korea Bizwire) — Former President Yoon Suk Yeol defended himself during his first criminal trial on insurrection charges Monday, saying his attempt to impose martial law in December did not amount to an insurrection. Yoon arrived at the Seoul Central District Court in a black security vehicle and entered via the underground [...]
SEOUL, April 14 (Korea Bizwire) — Acting President Han Duck-soo said Monday that U.S. President Donald Trump “apparently” instructed his administration to conduct immediate tariff negotiations with South Korea, Japan and India. Han made the remark during a meeting with government officials and large business executives, referring to Trump’s actions after they held a phone [...]