SEOUL, March 29 (Korea Bizwire) — Local bakeries and noodle restaurants are struggling with a spike in the price of flour and other ingredients since last year. For many small owner-operated businesses, buying and storing flour in advance is not an option, which has exposed them to the risk of direct impact from price fluctuations. [...]
SEOUL, March 29 (Korea Bizwire) — Korean traditional folk song “Arirang” rearranged to embody the exotic rhythm and inspiration of Mexico have caught the eyes of locals. The South Korean culture center in Mexico City held the 3rd Arirang Concour at Teatro Metropolitan in Mexico City on Sunday (local time), inviting musicians from all across [...]
SEJONG, March 29 (Korea Bizwire) — Debt held by wage workers in South Korea grew at a much faster pace in 2020 from a year earlier amid the fallout from the coronavirus pandemic, data showed Tuesday. Bank and non-bank loans extended to paid workers in Asia’s fourth-largest economy averaged 48.6 million won (US$39,800) per person [...]
SEOUL, March 29 (Korea Bizwire) — Retail sales in South Korea rose 4.7 percent in February from a year earlier on the back of growing online consumption amid the worst COVID-19 wave, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers reached 12.19 trillion won (US$9.99 billion) last month, [...]
SEOUL, March 29 (Korea Bizwire) — South Korea’s overseas aid agency has built an infectious disease treatment ward in Fiji, an island country in the South Pacific Ocean that has had difficulties dealing with the COVID-19 pandemic due to limited access to public health services. The Korea International Cooperation Agency (KOICA) on Monday held an [...]
SEOUL, March 28 (Korea Bizwire) — Nearly three in 10 South Korean exporting companies have seen their financial situation worsen this year due to the coronavirus pandemic and other negatives, a poll showed Monday. The survey on 102 manufacturing exporters out of the country’s top 1,000 firms by sales showed 31.4 percent of the respondents [...]
SEOUL, March 28 (Korea Bizwire) — With quarantine restrictions being lifted for incoming vaccinated travelers to South Korea, more people are gaining interest in books about foreign travel. Kyobo Bookstore reported a 28.5 percent sales increase for books about traveling overseas between February 25 and March 24. The government lifted quarantine restrictions on incoming travelers [...]
SEOUL, March 28 (Korea Bizwire) — The Seoul Metropolitan Government has announced the development of a new system that uses closed-circuit cameras to offer parking discounts to drivers of electric vehicle (EVs) by automatically detecting batteries. The system uses CCTV cameras installed at EV charging stations to monitor how long the vehicles are plugged in [...]
SEOUL, March 28 (Korea Bizwire) — As the pandemic drags on, South Korean multiplex operators are turning into alternative stages for K-pop artists. K-pop supergroup BTS’ “Permission To Dance On Stage – Seoul,” taking place in Seoul for the first time in more than two years, was released as a live broadcast at multiplex theaters [...]
SEJONG, March 28 (Korea Bizwire) — South Korea’s energy imports spiked more than 85 percent this year on soaring international prices, government data showed Monday, burdening the country’s trade balance and consumer inflation. The country’s imports of oil, natural gas and coal came to US$38.49 billion from Jan. 1-March 20, up 85.4 percent from a [...]