SEJONG, Mar. 11 (Korea Bizwire) — The South Korean government allocated fewer funds to purchase oil products, missing out on the opportunity to stock up on emergency energy reserves at the lowest costs in decades, records showed Wednesday. According to the Ministry of Trade, Industry and Energy, the government plans to purchase 219,000 barrels of [...]
SEJONG, Mar. 3 (Korea Bizwire) — South Korea’s consumer prices grew less than 1 percent for the third month in a row in February, with the pace of growth the slowest since mid-1999, a government report showed Tuesday. The country’s consumer price index edged up 0.5 percent last month from a year earlier, down from [...]
SEOUL, Feb. 11 (Korea Bizwire) — South Korea’s top oil refiner SK Innovation Co. said Wednesday it will partner with the state-run China National Offshore Oil Corporation (CNOOC) to conduct oil and gas exploration in two blocks in the South China Sea, tapping the region for the first time. The blocks owned by China’s largest [...]
SEOUL, Jan. 9 (Korea Bizwire) — The South Korean government on Friday pressured the oil and gas industry to further cut petroleum prices as it pushes to pass on the benefit of tumbling global oil prices to consumers to spur spending. The Ministry of Trade, Industry and Energy asked for “cooperation” of petroleum industry officials [...]
![[Kobiz Feature] Hard Times to Be a Gas Station Owner](http://koreabizwire.com/wp/wp-content/uploads/2014/02/12405694_m-800x533.jpg "[Kobiz Feature] Hard Times to Be a Gas Station Owner")
SEOUL, Korea, Jan 9 (Korea Bizwire) – Only a decade ago, anyone who owns a gas station was considered one of local worthies. But today gas station operators are having a hard time even to stay in the black. Some of them go out of business or try hard to sell their properties before it’s too late. [...]