SEOUL, Sept. 13 (Korea Bizwire) — The number of South Korean firms unable to service their debts with earnings soared nearly 24 percent in 2021 from two years earlier amid the prolonged coronavirus outbreak, a report showed Tuesday. Asia’s fourth-largest economy had 2,823 “marginal companies” last year, up 23.7 percent from 2019 before the COVID-19 [...]
SEOUL, Sept. 10 (Korea Bizwire) — South Koreans’ consumption of flowers and ornamental plants rose 6.1 percent on-year last year on rising demand amid the prolonged COVID-19 pandemic and restrictions in outdoor activities, data showed Saturday. An average South Korean spent 12,386 won (US$8.90) on buying flowers and other plants in 2021, compared with 11,676 [...]
SEOUL, Sept. 10 (Korea Bizwire) — A majority of parents in South Korea were found to rely heavily on smartphones or tablet computers when tending to young children while carrying out daily tasks at home, a poll showed Saturday, a development that reflects the country’s growing smartphone addiction problem among young people. In the poll [...]
SEOUL, Sept. 10 (Korea Bizwire) — The American city of Los Angeles designated “Squid Game Day” in recognition of the global mega-hit Korean drama’s impact on American popular culture. John Lee, a Korean American member of the Los Angeles City Council, announced that the council passed a resolution last week designated Sept. 17 as Squid [...]
SEOUL, Sept. 10 (Korea Bizwire) — The Metropolitan Museum of Art in New York will open up its first exhibition hall named after a Korean-American. Seoul-based private equity fund MBK Partners Ltd. announced that one of the exhibition halls in the Modern Wing, named after Oscar Tang and H.M. Agnes Hsu-Tang, will be named after [...]
SEOUL, Sept. 9 (Korea Bizwire) — This year’s Chuseok holiday, which runs until Sept. 12., is shorter than usual so many Koreans are opting for domestic travel instead of going abroad. Accordingly, the demand for hotel stays is also increasing. According to industry sources, the room occupancy rate of five-star hotels and resorts in the greater Seoul area, [...]
SEOUL, Sept. 8 (Korea Bizwire) — Close to one-third of South Koreans do not wish to receive an additional shot of the COVID-19 vaccine, even if the next wave of a pandemic is coming, a poll showed Wednesday. A research team from Korea University conducted a nationwide survey of 1,500 men and women over 19 [...]
SEOUL, Sept. 8 (Korea Bizwire) — A giant yellow rubber duck is returning to Seoul’s Seokchon Lake eight years after its first visit. Lotte Property & Development (P&D), the operator of South Korea’s tallest skyscraper, Lotte World Tower, is joining hands with Seoul’s Songpa District to host the Rubber Duck Project Seoul 2022 from Sept. [...]
SEOUL, Sept. 8 (Korea Bizwire) — The Seoul Metropolitan Government said Wednesday it will open pet care centers for socially vulnerable groups on a trial basis. The project, to end on Dec. 22, aims to support vulnerable groups who face difficulties arranging accomodation for their pets in case of a long-term absence. The pet care [...]
SEOUL, Sept. 8 (Korea Bizwire) — Asset management firms in South Korea saw their combined net earnings plunge in the second quarter of this year due to massive investment losses amid sluggish financial markets, data showed Thursday. The combined net income of 380 firms came to 170.1 billion won (US$122.6 million) in the April-June period, [...]