SEOUL, March 8 (Korea Bizwire) — South Korean companies with business ties with Russia will likely be hit by Moscow’s retaliatory moves to allow Russian companies to make payments to foreign creditors in the Russian currency. Moscow announced a list of a few dozens of “unfriendly” nations on Monday, including South Korea, the United States, [...]
SEOUL, Feb. 25 (Korea Bizwire) — The Ministry of Economy and Finance said Thursday that local companies investing in national strategic technologies directly connected with national economy and security will receive tax deduction up to 50 percent of their investments. This year’s tax law revision cleared the way for businesses that make research and development [...]
SEOUL, Feb. 22 (Korea Bizwire) — The fast spread of the omicron variant of COVID-19 has led to daily infections of more than 100,000 people, but it has barely changed the everyday lives of office workers and college students. Many public institutions and private businesses have made few or no changes to their current work-at-home [...]
SEOUL, Feb. 3 (Korea Bizwire) — The number of South Korean companies affiliated with large business groups under tight supervision rose by 34 in the three months ending Jan. 31 as conglomerates expanded new businesses, the antitrust regulator said Thursday. The total number of affiliates on the Fair Trade Commission (FTC) watch list reached 2,738 [...]
SEOUL, Feb. 1 (Korea Bizwire) — South Korea’s major conglomerates, known to be on the conservative side of business style compared to startups or IT firms, are stepping up to change their working culture. Samsung Electronics Co. currently plans to introduce new offices that combine the strengths of working at home and coming in to [...]
SEOUL, Jan. 27 (Korea Bizwire) — Three South Korean companies — Samsung Engineering Co., Lotte Chemical Corp. and POSCO — announced on Wednesday that they will jointly launch a clean hydrogen development business in Malaysia. On Monday, the companies signed a memorandum of understanding with Malaysia’s Sarawak Economic Development Corporation Energy to promote the Sarawak [...]
SEOUL, Jan. 14 (Korea Bizwire) — So-called ‘workations’, in which many fintech employees work as they rest, are expanding in response to rising demand for a working environment that caters to contactless business practices in the pandemic era. Viva Republica Inc., the company behind popular South Korean financial app Toss, joined hands with Namhae County [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s top 100 companies have seen their total market capitalization swell nearly 11 percent over the past one-year period, a corporate tracker said Wednesday. The combined market value of those leading firms came to 2,128 trillion won (US$1.78 trillion) as of Jan. 3 this year, up 10.8 percent [...]
SEOUL, Jan. 11 (Korea Bizwire) — South Korea’s fashion companies are jumping into making premium perfumes, driving head-on towards fierce competition. Handsome Corp., an affiliate of Hyundai Department Store Group, plans to open up a Liquides Perfume Bar in South Korea, an all-brand store for niche perfumes from France. The store plans to introduce some [...]
SEOUL, Jan. 11 (Korea Bizwire) — The number of South Korean companies that returned home from their offshore operations and their investment at home hit an all-time high last year, the industry ministry said Tuesday. A total of 26 firms relocated their factories from overseas in 2021, compared with 24 the previous year, and their [...]