GYEONGJU, Nov. 4 (Korea Bizwire) — As the APEC Summit drew global attention to Gyeongju last week, the city’s hospitality industry is racing to turn the spotlight into lasting gains. Hotels that hosted world leaders are now launching promotions offering guests a taste of the summit’s prestige — from presidential suites to dishes inspired by [...]
SEOUL, Nov. 29 (Korea Bizwire) — Nearly half of South Korean hospitality companies were unable to service their debts with earnings in 2020 in the wake of the coronavirus pandemic, a report showed Monday. The report from the Federation of Korean Industries (FKI), the lobby for South Korea’s family-controlled conglomerates, showed 45.4 percent of firms [...]
SEOUL, June 12 (Korea Bizwire) — Loans in the accommodation and food services sector are increasing as the industry is in a deep slump, central bank data showed Tuesday, a warning sign that the quality of the debts and personal credit ratings are worsening in the process. Loans to lodging and eating businesses totaled 51.25 [...]