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Ruling Party Raises Need to Adopt Dual-class Share System for Venture Firms

Ruling Party Raises Need to Adopt Dual-class Share System for Venture Firms

SEOUL, Oct. 11 (Korea Bizwire) — The ruling Democratic Party (DP) on Thursday raised the need to introduce a dual-class share system for venture companies in a bid to help them secure funds while defending their managerial rights. As a key management defense tool, the dual-class share system allows major shareholders to exercise multiple voting [...]

S. Korean Startup Launches Beta Version of Ride-hailing Service

S. Korean Startup Launches Beta Version of Ride-hailing Service

SEOUL, Oct. 8 (Korea Bizwire) — South Korean mobility startup VCNC said Monday it has launched a new ride-hailing service in Seoul and an adjacent city with 11-seat vans in a move to get around a local transportation law. VCNC said hundreds of its passenger vans offer a service called Tada in Seoul and Incheon, [...]

Trademark Fees Received by Chaebol Holding Companies Exceed 1 tln Won in 2017

Trademark Fees Received by Chaebol Holding Companies Exceed 1 tln Won in 2017

SEOUL, Oct. 7 (Korea Bizwire) — Trademark usage fees received by holding companies of South Korea’s largest conglomerates exceeded 1 trillion won (US$884.5 million) for the first time ever in 2017, a report submitted to parliament by the country’s anti-trust watchdog showed Sunday. The findings submitted to Rep. Lee Tae-kyu’s office by the Fair Trade [...]

Import Diesel Cars Market Presence Falling amid Comeback of Gasoline Vehicles: KAIDA

Import Diesel Cars Market Presence Falling amid Comeback of Gasoline Vehicles: KAIDA

SEOUL, Oct. 7 (Korea Bizwire) — The market presence of imported diesel cars in South Korea has backtracked in South Korea in the face of a comeback by gasoline vehicles, industry data showed Sunday. According to the Korea Automobile Importers and Distributors Association (KAIDA), the number of newly registered diesel cars in the country reached [...]

Interchange Fees Stifling Small Business

Interchange Fees Stifling Small Business

SEOUL, Oct. 5 (Korea Bizwire) — Merchants in North Jeolla Province are struggling under the burden of interchange fees, according to a recent survey conducted by the Korean Confederation of Trade Unions (KCTU). Queried on the business expense that needs to be addressed most urgently, 59.3 percent of the respondents chose interchange fees. That is [...]