SEOUL, Jan. 8 (Korea Bizwire) — South Korean shipyards, for the first time in seven years, ranked No. 1 in 2018 in terms of annual orders secured, industry data showed Tuesday. According to the data compiled by global research firm Clarkson Research Institute, local shipbuilders clinched new orders totaling a combined 12.63 million compensated gross [...]
SEOUL, Dec. 28 (Korea Bizwire) — The Jeongdongjin Coast has been voted the most popular place to watch the sun rise. With Innovation, a South Korean company that provides lodging solutions, asked 400 travel experts about the best place to watch the sun rise in South Korea, 21.3 percent of whom chose the Jeongdongjin Coast [...]
SEJONG, Nov. 28 (Korea Bizwire) — Starting next month, hydrogen filling stations will be permitted for installation at existing green belt LNG stations. The Ministry of Land, Infrastructure and Transport announced that an amendment bill lifting restrictions on hydrogen filling stations in green belt areas was approved on Tuesday, and scheduled to take effect next [...]
SEOUL, Nov. 23 (Korea Bizwire) — A recent study has revealed that South Korean consumers are increasingly turning to imported beef over domestic varieties. In certain distribution channels, imported meat sales are even surpassing sales of Korean beef. TMON Inc., a popular e-commerce company, said on Thursday that imported beef sales comprised as much as [...]
SEOUL, Sept. 27 (Korea Bizwire) — The financial regulator said Thursday it will ease some rules on local private equity funds, with the aim of removing outdated restrictions on the industry and spurring competition with foreign rivals. Under the move, the Financial Services Commission (FSC) said it will allow local private equity funds to have [...]
SEOUL, Sept. 25 (Korea Bizwire) –A few South Korean life insurance companies still have misselling rates reaching nearly 1 percent regarding their insurance policies. Misselling is a sales practice in which a financial product or service is deliberately misrepresented or a customer is misled pertaining to certain information regarding the product. The practice has become [...]
SEOUL, Sept. 12 (Korea Bizwire) — The maximum possible number of shares investors can purchase in a single order will be reduced starting next week to prevent fat-finger errors, the local bourse operator said Wednesday. Investors will be allowed to buy a maximum of 1 percent of a firm’s total shares per order starting Monday, [...]
SEOUL, Aug. 23 (Korea Bizwire) — The amount of foreign securities held by major South Korean institutions fell for the first time in more than three years in the second quarter due to a drop in holdings of foreign currency-denominated bonds, central bank data showed Thursday. As of the end of June, the value of [...]
SEJONG, Aug. 22 (Korea Bizwire) — The number of newborns in South Korea fell again in June, government data showed Wednesday, in the latest sign of the chronically-low birthrate that has plagued Asia’s fourth-largest economy for more than a decade. About 26,400 babies were born in June, down 8.7 percent from 28,900 tallied a year [...]
SEOUL, Aug. 14 (Korea Bizwire) — U.S. online travel company Expedia Group Inc. said Tuesday it will closely review feedback from customers in South Korea, one of the most wired countries in the world, to better accommodate the increasing number of travelers using mobile transactions globally. According to the company, more than 50 percent of [...]