SEOUL, Oct. 27 (Korea Bizwire) – Speculation that the recently held 19th National Congress of China’s Communist Party would lead to a gradual easing of tensions between China and South Korea is building hope among local tourism and duty-free businesses. The relationship between the two neighboring countries turned icy after the installation of U.S. missile [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Korea expressed its intention to bid in the upcoming nuclear reactor project in Saudi Arabia and discussed ways to expand cooperation in the energy sector in a bilateral business meeting, Seoul’s energy ministry said Thursday. Paik Un-gyu, South Korean minister of trade, industry and energy met with Adel [...]
SEOUL, Oct. 26 (Korea Bizwire) — The Japanese unit of Swiss food giant Nestlé on Thursday opened a flagship store for its chocolate brand KitKat in South Korea in response to growing popularity of the unique flavored chocolates developed in the neighboring country. The store, located at the Gangnam branch of Shinsegae Department Store in southern [...]
SEOUL, Oct. 25 (Korea Bizwire) — The amount of sin taxes levied on tobacco, liquor and gambling has risen dramatically in recent years due mainly to the sharp rise in dues levied on cigarettes, government data showed Wednesday. The government increased taxes on cigarettes by 2,000 won (US$1.70) per pack from Jan. 1, 2015, raising [...]
SEJONG, Sept. 29 (Korea Bizwire) — Purchases made through mobile devices in South Korea continued to break new records last month as a growing number of people spend more time with their handsets, government data showed Friday. Mobile transactions through smartphones and tablets reached an all-time high of 4.04 trillion won (US$3.5 billion) in August, [...]
SEOUL, Sept. 29 (Korea Bizwire) — South Korea’s icebreaker is on its way to the southern port of Busan after completing a 70-day international exploration mission in the Arctic Ocean, the oceans ministry said Thursday. The Araon, South Korea’s first ice breaking vessel, started its eighth mission to the North Pole on July 21 and [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Electronics climbed to 6th while Hyundai Motor Company stayed in 35th place for the second straight year in global brand consultancy Interbrand’s “Best Global Brands 2017” list. Kia also held steady by staying at 69th place, the same position it was in last year. Interbrand estimated Samsung Electronics’ [...]
SEOUL, Sept. 22 (Korea Bizwire) — The number of new tuberculosis (TB) patients dropped slightly in 2016 from the previous year, government data showed Friday, amid the government increasing the number of dedicated doctors and other medical staff charged with treating the contagious disease in recent years. South Korea had the highest incidence rate of [...]
SEOUL, Sept. 21 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-largest carmaker, said Thursday it will suspend overtime work at its domestic plants starting next week due to lower demand from its major markets. Kia workers at the carmaker’s three local plants, located in Gwangju in Jeolla Province, and Sohari and Hwaseong in Gyeonggi [...]
SEOUL, Sept. 20 (Korea Bizwire) — An annual global music fair will kick off next week in Seoul to help promote Korean pop music in overseas markets, organizers said Wednesday. K-pop, as it is known, is already becoming more popular among young people in other Asian countries, as well as in Europe and the Americas, with its influence generating interest in other facets of Korean culture. [...]