DAEJEON, Jun. 27 (Korea Bizwire) – In a contentious legal battle, three South Korean companies have filed a lawsuit against the state-run Korea Minting and Security Printing Corporation (KOMSCO), seeking 7.5 billion won in damages. The dispute stems from a scrapped government initiative to implement a deposit system for disposable cups. The deposit system required coffee [...]
DAEJEON, Apr. 22 (Korea Bizwire) – A group of tenants who changed the door locks and re-entered their former apartments after failing to receive their security deposits were prosecuted for trespassing but were acquitted in both the first and second trials. According to legal insiders, in 2019, 11 residents, including an individual referred to only as [...]
SEOUL, March 3 (Korea Bizwire) — South Korea’s financial regulator said Friday it will expand the disclosure of information on loan-deposit rate differences as part of efforts to promote competition in the banking sector amid criticism that it has been bent on making profits from the “interest business” without diversifying income sources. Banks have been [...]
SEOUL, Feb. 24 (Korea Bizwire) — Consumers will have to pay a deposit of 300 won (US$0.25) when they buy a drink in a disposable cup at a large cafe or fast-food outlet starting in June, government officials said Thursday. The environment ministry said it will make a preannouncement of the measure aimed at reducing [...]
SEOUL, Jan. 18 (Korea Bizwire) — Deposits will be needed to buy drinks using disposable cups at cafes and fast-food chains starting in June as part of efforts to reduce plastic waste spiking amid the pandemic, the environment ministry said Tuesday. Starting on June 10, people will have to pay a deposit between 200 won [...]
SEOUL, May 21 (Korea Bizwire) — South Korea is set to introduce deposits for disposable cups at coffee shops and fast food outlets, starting 2022, in its latest efforts to cut carbon emissions. Under a set of bills approved during the final session of the parliament’s 20th term Wednesday, businesses will factor in the deposits [...]
POHANG, Aug. 26 (Korea Bizwire) — For the past five months, a fire has burned day and night in the heart of Pohang. Which is why the city announced on August 24 that it has begun the construction of a ring of fire-resistant glass and a platform around the fire in order to turn it [...]
SEOUL, Nov. 14 (Korea Bizwire) – The Bank of Korea base rate dropped in June to a record low 1.25 percent. Commercial institutions followed suit, adjusting their interest rates. And as of September, no banks offered time deposit accounts with 2 percent or higher interest rates. Saving in Korea is no longer a lucrative business. [...]
LEAWOOD, Kan., Jun. 7 (Korea Bizwire) — Euronet Worldwide, Inc. (NASDAQ:EEFT), a leading global payments provider, announces the further expansion of its pioneering Shared Independent Recycler Automated Deposit Terminal (“Recycler ADT”) Network across Europe. Euronet’s Recycler ADT Network has now reached 2,500 ADTs in Poland, Germany, Romania and Czech Republic with plans to expand further in [...]