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Banks Post 20 Trillion Won in Interest Income, but Corporate Growth Slows

Banks Post 20 Trillion Won in Interest Income, but Corporate Growth Slows

SEOUL, Aug. 20 (Korea Bizwire) — Listed companies showed slower growth in net profits in the first half of the year, while banks raked in approximately 20 trillion won in interest fees alone. As the growth rate of listed companies was smaller, banks enjoyed a boom with interest income proving to be a significant driver [...]

Nation’s First “Family” Cathedral Established in Busan

Nation’s First “Family” Cathedral Established in Busan

BUSAN, Aug. 20 (Korea Bizwire) — Constructed on the very site where Busan’s first cathedral was built more than 100 years ago, the nation’s first church specializing in matrimonial and family affairs has opened its doors to the public. The Roman Catholic Diocese of Busan carried out a celebratory ceremony officiated by Bishop Paul Hwang [...]

Meteorologists Warn of Heavy Damage from Approaching Typhoon

Meteorologists Warn of Heavy Damage from Approaching Typhoon

SEOUL, Aug. 20 (Korea Bizwire) — Meteorologists warned Monday that the approaching Typhoon Soulik is expected to cause enormous damage across the Korean Peninsula later this week, urging the nation to thoroughly prepare for heavy rainfall and powerful winds and waves. According to the Korea Meteorological Administration (KMA), Typhoon Soulik, classified as strong medium-sized, is [...]

Hyundai Department Store, Amazon Join hands for ‘Next-generation’ Store

Hyundai Department Store, Amazon Join hands for ‘Next-generation’ Store

SEOUL, Aug. 20 (Korea Bizwire) — Hyundai Department Store Group said Monday it has joined hands with Amazon to develop the “next-generation” retail model amid local retailers’ push to adopt the latest technology to their online and offline platforms. Under the strategic collaboration agreement with Amazon Web Service (AWS) Korea signed on Friday, Hyundai said [...]

LG Electronics to Bolster Audio Biz Through XBOOM Brand

LG Electronics to Bolster Audio Biz Through XBOOM Brand

SEOUL, Aug. 20 (Korea Bizwire) — LG Electronics Inc. said Monday it plans to penetrate deeper into the global audio business with its XBOOM products made through collaboration with Britain-based Meridian Audio. The South Korean company, which released South Korea’s first radio in 1959, said it aims to become one of the leading audio brands [...]