SEOUL, June 6 (Korea Bizwire) — South Korea had the highest household debt-to-gross domestic product (GDP) ratio among 36 major economies in the first quarter, a global finance report said Monday. The country’s household debt-to-GDP ratio came to 104.3 percent in the January-March period, followed by Lebanon with 97.8 percent, Hong Kong with 95.3 percent, [...]
SEOUL, June 6 (Korea Bizwire) — A South Korean civic organization is challenging false claims that “pansori,” a Korean genre of musical storytelling, is from China. The Voluntary Agency Network of Korea (VANK) introduced pansori as traditional Korean one-person opera that uses a drum, ballads, dialogue and choreography to deliver a story. The civic group [...]
SEOUL, June 6 (Korea Bizwire) — The rising cost of driving a car, driven primarily by higher gasoline prices, is frustrating drivers. Among 12 types of expenditure in May under the consumer price index, transportation costs had jumped the most, by 14.5 percent, according to the data compiled by Statistics Korea. Transportation costs include transportation [...]
SEOUL, June 6 (Korea Bizwire) — Major convenience store chains are coming up with soju, a Korean distilled beverage made from grain, for a new round of competition this summer. GS25 joined hands with Won Spirits Co., a liquor manufacturer led by singer Jay Park, to open up a pop-up store called ‘GS Won’. Starting [...]
SEOUL, June 3 (Korea Bizwire) — Autonomous ship solution developer Avikus, a subsidiary of major South Korean shipyard HD Hyundai, has carried out autonomous navigation of a large ship across the ocean, becoming the first company in the world to do so. Avikus said Thursday it had successfully completed autonomous navigation of 180,000 square-meter-class ultra-large [...]
SEOUL, June 3 (Korea Bizwire) — Knicks Go, a racehorse a racehorse of the Korea Racing Authority, was designated as an honorary postmaster in the U.S. The U.S. Postal Service opens a temporary station at Pimlico Race Course in Maryland each year when the Preakness Stakes derby takes place and endows the title of honorary [...]
SEOUL, June 3 (Korea Bizwire) — The Seoul Metropolitan Government said Thursday it will host the 2022 Seoul International Ultra Trail Running Race, also known as the Seoul 100K, on October 15 and 16 in collaboration with the Korea Alpine Federation. The race will be divided into a 100-kilometer course connecting Seoul’s representative mountains with [...]
SEOUL, June 2 (Korea Bizwire) — Customers have been flocking to a pop-up store that was recently opened in Busan by the convenience chain GS25. GS25 and Won Spirits Co. opened up the pop-up store “GS Won” in Busan’s Busanjin District on Tuesday. The shop was set up to celebrate the release of Won Soju [...]
SEOUL, June 2 (Korea Bizwire) — The popularity of the “princess set” sold at Daiso, a localized version of a dollar store of the United States, is sweeping across the country after celebrities were seen wearing them. Actress Han So-hee posted an Instagram photo of herself wearing earrings and necklaces laden with pink gems at [...]
SEOUL, June 2 (Korea Bizwire) — Online shopping in South Korea continued to grow in April as eased virus curbs and the economic recovery boosted demand for travel services and foodstuffs, data showed Thursday. The value of online shopping transactions stood at 16.5 trillion won (US$13.2 billion) in April, up 11.9 percent from the previous [...]