SEOUL, Feb. 11 (Korea Bizwire) — Ssangyong Motor Co. has sold more than 8,000 Tivoli compact sport utility vehicles in less than a month after its debut, possibly making it one of the biggest hit models for this year, market data showed Wednesday. Ssangyong Motor, the smallest carmaker in South Korea, started to sell the [...]
SEOUL, Feb. 10 (Korea Bizwire) – According to a recent analysis on social costs caused by diseases, suicide cost approximately 6.48 trillion won (US$5.94 billion) directly and indirectly last year. The Health Insurance Policy Research Institute, which operates under the National Health Insurance Service, released the study, which calculates the direct costs caused by major [...]
SEOUL, Feb. 10 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. are facing growing challenges in emerging markets with their sales either shrinking or slowing in growth, industry data indicated Tuesday. According to data from the Korea Automotive Research Institute and other industry groups, Hyundai and Kia, South Korea’s No. [...]
SEOUL, Feb. 9 (Korea Bizwire) – More than half of South Korean college students want to find overseas jobs, a survey showed Monday, reflecting their pessimism over the country’s ever-worsening job market and stressful life in Korea Inc. In a nationwide survey of 2,361 students from 132 universities, 59.3 percent responded they prefer overseas jobs over [...]
SEOUL, Feb. 9 (Korea Bizwire) — A domestic film depicting the life of a typical father from Korea’s older generation surpassed the 13 million viewer mark at the local box office, just 53 days after its release last year, according to the Korean Film Council (KOFIC). With the milestone, the film “Ode to My Father” [...]
SEJONG, Feb. 9 (Korea Bizwire) — The Organization for Economic Cooperation and Development (OECD) on Monday called on South Korea to enhance its transparency in taxes and regulatory policies to better attract overseas investment that can breathe new life into the country’s economy. The Going for Growth 2015 report released by the Paris-based organization said [...]
SEOUL, Feb. 9 (Korea Bizwire) — The tax burden for ordinary households in South Korea outpaced income gains in the first three quarters of 2014 by nearly double, official data showed Monday. According to figures provided by Statistics Korea, average income for a two-person household stood at 4,314,334 won (US$3,928.9) in the January-September period, up [...]
SEOUL, Feb. 8 (Korea Bizwire) – More than half of home-furnishing retailers near IKEA’s first shop in South Korea have seen their sales sink for the past two months, hit by the Swedish industry giant’s entry into the local market, a poll showed Sunday. According to the survey conducted by the Korea Federation of SMEs on [...]
SEOUL, Feb. 6 (Korea Bizwire) – The number of newly registered foreign cars in January 2015 reached an all-time high since the Korean auto market was opened to foreign competition 25 years ago. According to an announcement from the Korea Automobile Importers & Distributors Association (KAIDA), 19,930 imported cars were sold in January, an increase of 16.4 [...]
SEOUL, Feb. 6 (Korea Bizwire) – The internet’s most searched term for popular places in Seoul in the second half of 2014 turned out to be the Hongdae area. According to an analysis conducted by Cheil Data and Analytics Center on 258,000 search keywords input by 3,200 people, 29.8 percent of the search keywords about Seoul’s [...]