ULSAN, South Korea, March 9 (Korea Bizwire) – “Ttong-bonwi-hwapae” literally translates into “poop standard currency.” And the government is investing 10 billion won ($8.65 million) over the next five years to turn this human waste-to-currency idea into reality in South Korean towns and cities. A pilot project was initially spearheaded by the Ulsan National Institute [...]
SEOUL, Feb. 3 (Korea Bizwire) – The Bank of Korea Money Museum, located in Myeongdong, central Seoul, opened in 2001 to celebrate the 50th anniversary of South Korea’s central bank (the bank opened in June 1950). In addition to its display of some 4,500 banknotes from around the world, the facility delves into the history [...]
SEOUL, Jan. 6 (Korea Bizwire) – Local tech giant Kakao is set to provide preventive measures against purchases of mobile content – namely emoticons on its messaging app Kakao Talk – using low-value currencies. According to the company, emoticon purchases using Egyptian Pounds soared last year following the sudden plummet in the currency’s value, allowing [...]
SEOUL, June 27 (Korea Bizwire) – Brexit, the U.K’s decision to leave the European Union (EU), is quickly driving down the value of the British pound, and Korean shoppers are rushing to Britain’s online markets to take advantage of favorable exchange rates. Customers were quick to react to news of the ‘leave’ campaign’s victory, and started [...]