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Lotte Set to Approve Exchange of Land for THAAD Deployment

Lotte Set to Approve Exchange of Land for THAAD Deployment

SEOUL, Jan. 20 (Korea Bizwire) – South Korean conglomerate Lotte will likely relinquish its golf club in the rural town of Seongju so the land can be used for the deployment of a U.S. air missile defense system, informed sources said Friday, despite possible repercussions for its business in China.  According to officials from Lotte [...]

Department Stores Struggle to Attract VIP Customers

Department Stores Struggle to Attract VIP Customers

SEOUL, Jan. 19 (Korea Bizwire) – There is a sense of hierarchical bipartisanship when one visits a Korean department store; there are the VIPs, and the non-VIPs.  Korean department stores have been expanding their VIP programs, targeting specifically the “haves” by either lowering the purchase requirements for the programs or introducing more VIP “levels” to [...]

Government Injects Funds to Resuscitate Shipbuilding Industry

Government Injects Funds to Resuscitate Shipbuilding Industry

SEOUL, Jan. 19 (Korea Bizwire) – The Ministry of Trade, Industry & Energy announced Wednesday that it will invest 245.1 billion won ($208 million) this year to help Korea’s dwindling shipbuilding industry diversify and hopefully breathe life into the sector.  The investment will be divided into four areas – R&D (5 billion won), commercialization (4.5 [...]

Antibiotics Prescription for Infants Much Higher in South Korea: Report

Antibiotics Prescription for Infants Much Higher in South Korea: Report

SEOUL, Jan. 19 (Korea Bizwire) – South Korean infants are prescribed antibiotics in much higher frequency than those in other countries, the latest research report said Thursday, confirming concerns in the medical community of serious misuse that could hurt the immune system.  The results show South Korean toddlers on average are prescribed antibiotics 3.41 times [...]