SEJONG, Dec. 18 (Korea Bizwire) — More than half of middle-aged South Koreans are in debt, government data showed Tuesday, in the latest sign of growing household debt in Asia’s fourth-largest economy. The data compiled by Statistics Korea showed that 55.2 percent of people, aged between 40 and 64, borrowed money from banks or other [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hyundai Motor Co. announced on Monday that it has developed the world’s first fingerprint recognition feature for automobiles. The company will first launch the system on the new Santa Fe, which will be introduced in China in the first quarter of next year, after which the feature will be [...]
SEOUL, Dec. 18 (Korea Bizwire) — The South Korean government has decided to give permanent residency to a Sri Lankan who bravely saved an elderly woman in her 90s by rushing into a fire. The Ministry of Justice said on December 13 that all members of a committee had agreed to give permanent residency to [...]
SEOUL, Dec. 18 (Korea Bizwire) — The construction of Hyundai Motor Group’s new Global Business Center (GBC) is expected to be fast-tracked after the government indicated it would accelerate deliberations related to the project in its economic policy direction for next year. The government said deliberations on Hyundai Motor’s GBC project, which will be built [...]
SUWON, Dec. 18 (Korea Bizwire) – Gyeonggi Agricultural Research & Extension Services has developed an eco-friendly extermination technology to eradicate houseflies, often a problem for livestock farmers, using natural predators. The research center entered an agreement to transfer the breeding technology of ‘Carcinops pumilio’, a natural predator of houseflies, to the private research laboratory Korea [...]
GENEVA, Dec. 18 (Korea Bizwire) — The level of economic participation and opportunity of South Korean women is well below the world average, putting the country in 115th position out of 149 countries in terms of gender equality, according to a report released Tuesday by the World Economic Forum (WEF). The forum’s Global Gender Gap [...]
SEOUL, Dec. 18 (Korea Bizwire) — The economic value generated by K-pop boy band BTS is estimated at around 4 trillion won (US$3.54 billion) annually, a local researcher said Tuesday, indicating that the global sensation plays a significant role in South Korea’s economy that stretches beyond the cultural sector. The Hyundai Research Institute (HRI) said [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s gaming industry is the world’s fourth largest in sales, but none of the local companies rank among the top producers, a report said Tuesday. According to the Korea Creative Content Agency, the industry’s sales in October came to US$5.76 billion. The number ranked fourth behind $34.4 billion [...]
SEOUL, Dec. 18 (Korea Bizwire) — The local semiconductor industry is waiting for the latest corporate performance results of U.S. rival firm Micron Technology, Inc to get a better idea of where it is headed, officials said Tuesday. Micron is due to announce its profits for the September-November period Wednesday. “The market’s concern grew when [...]
SEOUL, Dec. 17 (Korea Bizwire) — An increasing number of South Koreans are opening their wallets to purchase plane tickets to go overseas. In fact, South Koreans spent a record-breaking amount of money overseas last year, and the total is only expected to increase in the future. Overseas consumption is gaining importance as a subset [...]