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Online Shopping Experiencing Growth Surge as Retail Sales Stumble

Online Shopping Experiencing Growth Surge as Retail Sales Stumble

SEOUL, Jul. 21 (Korea Bizwire) — Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year, data showed Friday. Retail transactions in the three months to March totaled 96.56 trillion won (US$85.83 billion), a growth of 4.7 percent from the same [...]

Everland Amusement Park Remains Top Tourist Attraction for Locals, Foreigners

Everland Amusement Park Remains Top Tourist Attraction for Locals, Foreigners

SEOUL, Jul. 19 (Korea Bizwire) — Everland Resort, an amusement facility equipped with a water park and a zoo, was the No. 1 destination for local and foreign visitors last year, South Korea’s tourism agency said Wednesday. According to the Korea Culture and Tourism Institute, 6.96 million people visited the amusement park in Yongin, just [...]

Fathers Taking Paternity Leave on Steady Rise: Labor Ministry

Fathers Taking Paternity Leave on Steady Rise: Labor Ministry

SEOUL, Jul. 17 (Korea Bizwire) — The number of fathers taking time off work to take care of their children is growing continuously, encouraged by the government policy that aims to further boost support for family leave, government data showed Monday. A total of 5,101 men signed up for paternity leave in the first half [...]

LG Says Its Robot Vacuum Cleaner as ‘Intelligent as 7-year-old child’

LG Says Its Robot Vacuum Cleaner as ‘Intelligent as 7-year-old child’

SEOUL, Jul. 17 (Korea Bizwire) — LG Electronics Inc. said Monday that independent studies showed its robot vacuum cleaner released earlier this year were as intelligent as a 6-to-7-year-old child. Citing a research conducted by Robotics & Intelligent Systems Lab under Seoul National University, the South Korean consumer electronics giant said the vacuum cleaner, named [...]

Dependence on Coal-fired Power Output Still High

Dependence on Coal-fired Power Output Still High

SEOUL, Jul. 17 (Korea Bizwire) – South Korea’s coal-fired power generation increased this year as the country’s new government vows to reduce its dependence on fossil fuels and nuclear power, industry data showed Monday. According to the data compiled by the Korea Power Exchange, coal-fired power generation reached 95,550 gigawatt-hours (GWh) in the first five [...]

Data Indicate Tariff Elimination Doesn’t Account for Increased Korean Car Exports to U.S.

Data Indicate Tariff Elimination Doesn’t Account for Increased Korean Car Exports to U.S.

SEOUL, Jul. 16 (Korea Bizwire) — South Korea’s car exports to the United States have declined, rather than increased, after the two countries abolished import taxes last year as part of their free trade agreement, data showed Sunday. The Korea Automobile Manufacturers Association (KAMA) published the analysis that rebuts a widespread belief in the U.S. [...]

Value of Overseas Investment Funds Soars over Past Year

Value of Overseas Investment Funds Soars over Past Year

SEOUL, Jul. 16 (Korea Bizwire) — The value of South Korea’s overseas investment funds has jumped more than 40 percent over the past year as big-time investors look overseas for high returns despite the recent bull of the domestic stock market, data showed Sunday. According to the data by the Korea Financial Investment Association, the [...]