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S. Korea’s Income Gap Hits Record High in Q4

S. Korea’s Income Gap Hits Record High in Q4

SEJONG, Feb. 21 (Korea Bizwire) — South Korea’s household income inequality hit a record high in the fourth quarter of 2018, government data showed Thursday. An average household earned 4.6 million won (US$4,000) per month in the October-December period, up 3.6 percent from the previous year, according to the data compiled by Statistics Korea. The [...]

Seoul’s Plan to Provide ‘Unconditional’ Youth Allowances Facing Opposition

Seoul’s Plan to Provide ‘Unconditional’ Youth Allowances Facing Opposition

SEOUL, Feb. 21 (Korea Bizwire) — Controversy is rising among Seoulites as the Seoul Metropolitan Government reportedly has been looking into the possibility of offering monthly stipends to young residents, no strings attached. The city government announced on Wednesday that the Seoul Institute and LAB2050, a private research institution, have proposed implementing the plan for [...]

Vietnamese Language Gaining Popularity in S. Korea

Vietnamese Language Gaining Popularity in S. Korea

BUSAN, Feb. 21 (Korea Bizwire) – Vietnamese is gaining popularity among South Korean universities as Vietnam’s rapid economic development, coupled with Park Hang-seo’s sterling reputation as the South Korean head coach of Vietnam’s national football team, is leading many students to take interest in the country. Vietnam has also been chosen to host the upcoming U.S.-North Korea [...]

Gov’t Turns to Technology for New Public Service Initiatives

Gov’t Turns to Technology for New Public Service Initiatives

SEOUL, Feb. 21 (Korea Bizwire) — The South Korean government plans to provide a 24-hour civil consultation service, protect victims of crimes using Internet of Things (IoT) technology, and develop a blockchain-based customs system for exporting products. South Korea’s Ministry of Public Administration and Safety announced on Wednesday that it had selected three projects to [...]

SK hynix Pushes to Create Semiconductor Cluster in Yongin

SK hynix Pushes to Create Semiconductor Cluster in Yongin

SEOUL, Feb. 21 (Korea Bizwire) — SK hynix Inc., the world’s second-largest memory chip maker, said Thursday it has officially expressed interest in creating a semiconductor cluster in Yongin, Gyeonggi Province, about 50 kilometers south of Seoul. A special purpose company has submitted a letter of investment intent, for investing in Yongin, to the city’s [...]

SKT, Deutsche Telecom to Sign MOU on Blockchain

SKT, Deutsche Telecom to Sign MOU on Blockchain

SEOUL, Feb. 21 (Korea Bizwire) — SK Telecom Co. said Thursday it will join hands with Deutsche Telekom AG to develop a blockchain platform for digital identification for easier access and better security. The telecom leaders of South Korea and Germany will sign a memorandum of understanding on development and commercialization of blockchain-based mobile identity [...]

QLED TV Sales Outpace OLED Editions in 2018

QLED TV Sales Outpace OLED Editions in 2018

SEOUL, Feb. 21 (Korea Bizwire) – Samsung Electronics is estimated to have sold 1.08 million quantum dot light-emitting diode (QLED) TVs last year that saw the premium segment outpace organic LED (OLED) sales, the latest market analysis showed Thursday. According to IHS Markit, 2.68 million QLED TVs were sold worldwide in 2018, more than the [...]