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Lotte’s Losses in China Compounded by Payment to Local Workers

Lotte’s Losses in China Compounded by Payment to Local Workers

SEOUL, Apr. 21 (Korea Bizwire) — Losses incurred by South Korean retail chain Lotte Mart from business suspensions in China are being compounded by salary payments to local employees, industry sources said Thursday. Lotte Mart, a highly successful affiliate of Lotte Group, had to temporarily close 74 of its 99 shops in China in February [...]

Undervalued Korean Folk Painting Style to be Highlighted at Art Fair

Undervalued Korean Folk Painting Style to be Highlighted at Art Fair

SEOUL, Apr. 21 (Korea Bizwire) — Korean folk painting “Minhwa” has never been given due attention. That there is no proper market for the traditional genre and few paintings are publicly traded in an increasingly popular and active art auction speaks volumes. Despite a generally cold reception in the country’s high art scene, a rising [...]

Gov’t, Mobile Carriers Unite to Monitor Infectious Diseases

Gov’t, Mobile Carriers Unite to Monitor Infectious Diseases

SEOUL, Apr. 21 (Korea Bizwire) — South Korea’s health authorities and the nation’s three mobile carriers launched a collaboration Thursday to monitor and prevent the spread of infectious diseases. Under an agreement between the Korea Centers for Disease Control and Prevention (KCDC) and SK Telecom Co., KT Corp. and LG Uplus Corp., the authorities will [...]

S. Korea Working to Confirm Reports on Controversial Trump-Xi Remark

S. Korea Working to Confirm Reports on Controversial Trump-Xi Remark

SEOUL/BEIJING, Apr. 21 (Korea Bizwire) — South Korea’s foreign ministry said Thursday that it is working to confirm reports that Chinese leader Xi Jinping told U.S. President Donald Trump that Korea “used to be a part of China.” “We are working to confirm the reports through diverse diplomatic channels including the United States and China,” [...]

Galaxy S8′s Iris Scanner to Be Used on Financial Transactions

Galaxy S8′s Iris Scanner to Be Used on Financial Transactions

SEOUL, April 21 (Korea Bizwire) – South Korea’s credit card companies are seeking to apply the iris scanner adopted by Samsung Electronics Co.’s Galaxy S8 smartphones on mobile transactions, industry sources said Friday, lauding the feature’s security compared with fingerprints and passwords.  According to the sources, Samsung Card Co. is seeking to apply the iris [...]

S. Korea Completes Land Provision Process for THAAD Deployment

S. Korea Completes Land Provision Process for THAAD Deployment

SEOUL, Apr. 21 (Korea Bizwire) — South Korea has completed the process to provide a site for the deployment of the advanced U.S. Terminal High Altitude Area Defense system, the foreign ministry said Thursday. Since the official announcement of a decision to install a THAAD battery in South Korea, Seoul and Washington have been negotiating [...]

National Election Commission Warns Voters of Big Data Analysis Ahead of Election

National Election Commission Warns Voters of Big Data Analysis Ahead of Election

SEOUL, April 20 (Korea Bizwire) – The National Election Commission has warned voters and the media ahead of the presidential election scheduled for next month that big data analysis must not be confused with election polls. The independent agency that overlooks elections and referendums said in a statement yesterday that the results of big data [...]