CHEONGJU, Aug. 17 (Korea Bizwire) – Geopolitical tensions are having a real effect on the Korean economy as North Chungcheong Province announced on August 15 that the low-cost carrier Eastar Jet had abandoned its plans to resume flight operations from Chungcheong International Airport to five Chinese cities. Since the cooling of relations between China and [...]
SUWON, Aug. 17 (Korea Bizwire) – Speaking on youth unemployment and the difficulties small and medium-sized businesses face in hiring and retaining new employees, Gyeonggi Governor Nam Gyeong Pil unveiled a number of policy proposals that would seek to resolve both issues. There were three chief proposals for those ages 18 through 34 in his [...]
SEOUL, Aug. 17 (Korea Bizwire) – According to a statement released by the National Policy Committee, a report submitted by online-only moneylender Kakao Bank showed that elderly users over the age of 60 were significantly underrepresented in numbers relative to other age groups of users. Since its inauguration on July 27, the online bank has [...]
SEOUL, Aug. 17 (Korea Bizwire) – With an estimated 26,000 workers and volunteers involved in the Olympics and 390,000 guests visiting from all over the world, the lower half of the Korean peninsula has its hands full in preparing for this coming winter. A joint statement released by Gangwon Province and the Ministry of SMEs [...]
SEJONG, Aug. 16 (Korea Bizwire) – The increasing popularity of “PB Products” like E-mart’s “No Brand” goods is lining the pockets of retailers, but doing little to benefit manufacturers according to a report published by the Korea Development Institute (KDI). PB products (Private Brand) are a variety of consumer goods that are produced by manufacturers [...]
SEJONG, Aug. 16 (Korea Bizwire) – Your neighborhood café might be playing a lot less music going forward now that the Ministry of Culture, Sports and Tourism has announced amendments to copyright laws. On August 16, the ministry issued a statement saying that revisions to standing copyright regulations had been made and would go into [...]
YONGIN, Aug. 16 (Korea Bizwire) – In commemoration of the 72nd Independence Day of South Korea, a statue of a ‘comfort girl’ symbolizing victims of Japanese sex slavery before and during the Second World War, was erected in the Seoul suburb of Yongin City. The committee that had commissioned the statue was in attendance for [...]
SEOUL, Aug. 14 (Korea Bizwire) — Let’s try a thought experiment for a moment. Picture in your mind, an empty, crushed aluminum soda can. It’s slightly sticky around the edges and speckled with dirt. Got it? Now, picture in your mind a one month-old puppy. It’s fluffy, helpless and frightened. See the connection? If you’re wondering [...]
IKSAN, Aug. 14 (Korea Bizwire) — Despite a reported downturn in fortunes, business is booming for a select few connected to the golf course industry. Through a combined mixture of daring, entrepreneurial spirit and lack of security oversight, small teams of “golf ball divers” are making a good living fishing for the lost balls at the bottom [...]
JEJU, Aug. 14 (Korea Bizwire) — In 1653, 364 years ago, the first man to leave a written record about the Korean people set foot on Jeju Island soil. Hendrick Hamel and his crew of Dutchmen were on a merchant ship christened “De Sperwer” headed to Japan when fearsome waves and winds in the seas wrecked [...]