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Mobile Sector Leads Gaming Industry Past 11B Won Milestone

Mobile Sector Leads Gaming Industry Past 11B Won Milestone

SEOUL, Dec. 14 (Korea Bizwire) – Revenue generated by mobile games surged this year, while traditional moneymakers like online games and “PC room” games – games played in South Korean internet cafes – stumbled. South Korean games have endured a series of ups and downs in the past decade. According to a government document published [...]

“100 Won Taxi” Program Brings Inexpensive Transportation to Rural Areas

“100 Won Taxi” Program Brings Inexpensive Transportation to Rural Areas

SEOUL, Dec. 14 (Korea Bizwire) – Starting next year, the government will roll out an affordable transportation program for agricultural communities throughout 82 counties nationwide, which includes a cheap form of taxi travel that has earned the title “100 Won Taxi”. The government program also includes the use of minibuses as replacement transportation services for [...]

Trash Bins to Disappear from Public Restroom Stalls

Trash Bins to Disappear from Public Restroom Stalls

SEOUL, Dec. 14 (Korea Bizwire) – Following criticism and hygienic concerns, wastebaskets in public bathroom stalls will disappear in South Korea from next year. The Ministry of the Interior and Safety announced a new enforcement ordinance on Wednesday, which will bring a number of changes to public restrooms from next month, including a ban on trash [...]

Pork Association Promotes Tender Pork Dishes for Seniors

Pork Association Promotes Tender Pork Dishes for Seniors

SEOUL, Dec. 14 (Korea Bizwire) – A group representing pork producers has introduced a number of tender pork recipes to boost sales, as the ‘silver food’ market for elderly customers continues to grow in South Korea. Korea Pork and the Korean Dietetic Association unveiled a number of pork recipes catering to seniors, hospital patients and children [...]

Gov’t Shakes Up Financial Services Sector, Looks to Create “Catfish Effect”

Gov’t Shakes Up Financial Services Sector, Looks to Create “Catfish Effect”

SEOUL, Dec. 14 (Korea Bizwire) – A slew of changes are coming to the financial services sector, from internet banks and the postal service being given the green light to begin offering products – a means of beefing up competition and thereby creating a “catfish effect” – to shrinking the yearly sales volume of firms’ [...]

Cryptocurreny Investors Hopeful as Government Forgoes All-out Ban

Cryptocurreny Investors Hopeful as Government Forgoes All-out Ban

SEOUL, Dec. 14 (Korea Bizwire) – A leaked draft outlining the government’s cryptocurrency regulations has been met with a sigh of relief from investors, as earlier reports of an all-out ban seem to have been debunked. Despite a number of reports that the South Korean government would follow in China’s footsteps and ban all cryptocurrency transactions, [...]

EU Says South Korea Could Be Removed from Tax Haven Blacklist by January

EU Says South Korea Could Be Removed from Tax Haven Blacklist by January

BRUSSELS, Dec. 14 (Korea Bizwire) — The European Union has said South Korea could be off its tax haven blacklist as soon as late January, if the country promises to amend or scrap tax breaks for international companies. South Korea was branded as a tax haven along with 16 other countries including Mongolia and Namibia according [...]

Low-Income Bracket Drives Monthly Rent Growth

Low-Income Bracket Drives Monthly Rent Growth

SEOUL, Dec. 14 (Korea Bizwire) – Of the South Korean households that are renters, 60.5 percent utilize “wolse”, or monthly payment rental systems, boosted by a growing low-income bracket. According to the Korea National Council of Consumer Organizations, the percentage of households renting using “jeonse” – a key money deposit system usually requiring a lump-sum [...]

Over 90 Percent of South Korean 20-Somethings Defenseless Against Hepatitis A

Over 90 Percent of South Korean 20-Somethings Defenseless Against Hepatitis A

SEOUL, Dec. 14 (Korea Bizwire) – Nine out of ten South Korean young adults in their 20s lack antibodies for hepatitis A, which means their bodies are far more susceptible to infection than others who do. The discovery was made after researchers from Seoul National University Hospital examined the cases of 5,856 individuals 10 years [...]