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Shinsegae to Reduce Working Hours Without Wage Cut

Shinsegae to Reduce Working Hours Without Wage Cut

SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s retail giant Shinsegae said Friday it will reduce its employees’ working hours to 35 per week starting next year as part of its efforts to improve their work-life balance. It will mark the first case for a local conglomerate to adopt the 35-hour working week policy, when [...]

Game Publishers See AI as Future

Game Publishers See AI as Future

SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s three major game developers are expanding their workforces in artificial intelligence (AI) as they consider the technology as the future of the industry, company officials said Friday. The nation’s longtime online game giant Nexon Korea Co. said that it will expand a department dealing with core technologies [...]

Foreign IBs Revise Up S. Korea’s Growth Outlook

Foreign IBs Revise Up S. Korea’s Growth Outlook

SEOUL, Dec. 7 (Korea Bizwire) — Major foreign investment banks (IBs) have upgraded their 2018 growth forecasts for the South Korean economy on its strong exports, a report showed Thursday. According to the report by the Korea Center for International Finance, Barclays, Goldman Sachs and seven other foreign IBs have forecast Asia’s fourth-largest economy to [...]

3 Out of 10 Top Shipowning Company Managers Eye New Ships in Next 12 Months

3 Out of 10 Top Shipowning Company Managers Eye New Ships in Next 12 Months

SEOUL, Dec. 5 (Korea Bizwire) — Three out of 10 shipowning company managers said they are likely to order new ships within the next 12 months, according to an industry report, in a sign that the maritime sector sees light at the end of the tunnel. SMM, the leading international maritime trade fair that takes [...]

S. Korean Hotels Set Eyes on Southeast Asia

S. Korean Hotels Set Eyes on Southeast Asia

SEOUL, Dec. 3 (Korea Bizwire) — South Korean hotel chains are targeting Southeast Asian countries to bypass tough competition at home and take advantage of the region’s fast-growing economy, industry watchers said Sunday. Industry watchers said Southeast Asia is an attractive market for local hotel chains as South Koreans also frequently visit the region for [...]