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GS Caltex and SK Energy Launch Smart Storage Service at Gas Stations

GS Caltex and SK Energy Launch Smart Storage Service at Gas Stations

SEOUL, Dec. 10 (Korea Bizwire) — GS Caltex Corp. and SK Energy Co., South Korea’s leading refiners, have teamed up to launch QBoo, a smart storage service found at gas stations. QBoo allows parcel exchanges, buying and selling second-hand goods, and storing laundry and other goods, using storage lockers. This will increase the inflow of customers at [...]

Top Biz Group Operating Profits Down if Samsung Elec, SK hynix are Excluded

Top Biz Group Operating Profits Down if Samsung Elec, SK hynix are Excluded

SEOUL, Dec. 9 (Korea Bizwire) — The operating profits of South Korea’s listed companies belonging to the largest conglomerates contracted in the January-September period of this year if the numbers for Samsung Electronics Co. and SK hynix are excluded, a local business tracker said Sunday. The total for the 94 companies, not counting the two [...]

Hyundai, Kia Eco-friendly Car Sales Jump 2.1-fold This Year

Hyundai, Kia Eco-friendly Car Sales Jump 2.1-fold This Year

SEOUL, Dec. 9 (Korea Bizwire) — Sales of eco-friendly cars made by Hyundai Motor Co. and its sister company Kia Motors Corp. jumped 2.1-fold in the first 11 months of this year, on strong domestic and overseas demand, industry data showed Sunday. The two flagship companies of Hyundai Motor Group, the world’s fifth largest automotive [...]

SMEs Say Paying Half of National Pension Dues for Foreign Workers is Unreasonable

SMEs Say Paying Half of National Pension Dues for Foreign Workers is Unreasonable

SEOUL, Nov. 29 (Korea Bizwire) — Small to mid-sized firms are asking the government to modify pension requirements, arguing that paying half of the national pension dues for foreign workers with E-9 visas is unreasonable. The Korea Federation of SMEs (KBIZ) sent a letter to the Ministry of Health and Welfare on Wednesday asking the [...]

Carpool App Poolus to Share 10 pct of Profits with Users

Carpool App Poolus to Share 10 pct of Profits with Users

SEOUL, Nov. 27 (Korea Bizwire) — Poolus, a new carpool startup, has announced a plan to share its profits with its customers. According to the plan, Poolus will distribute “pool points” to users of its service, which can either be cashed in or exchanged for shares in the company. In addition, AI technology will be [...]

S. Korea Seeks to Cut Card Fees for Smaller Businesses

S. Korea Seeks to Cut Card Fees for Smaller Businesses

SEOUL, Nov. 26 (Korea Bizwire) — Officials from the government and the ruling Democratic Party (DP) agreed Monday to cut card commission rates for smaller business owners to help them tide over economic difficulties. The move came as small businesses are feeling the pinch the most amid the economic downturn and the government’s hikes in [...]

Popular New York Brewery to Open Shop in S. Korea “Once Unit Taxation is Implemented”

Popular New York Brewery to Open Shop in S. Korea “Once Unit Taxation is Implemented”

SEOUL, Nov. 22 (Korea Bizwire) — One of New York’s popular hand-crafted beer franchises has revealed its intention to open up shop in South Korea if the country changes its liquor taxation policy from ad valorem duties to unit taxation. “The Jeju Beer Company will begin production of Brooklyn Brewery beers as soon as unit [...]