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Government Injects Funds to Resuscitate Shipbuilding Industry

Government Injects Funds to Resuscitate Shipbuilding Industry

SEOUL, Jan. 19 (Korea Bizwire) – The Ministry of Trade, Industry & Energy announced Wednesday that it will invest 245.1 billion won ($208 million) this year to help Korea’s dwindling shipbuilding industry diversify and hopefully breathe life into the sector.  The investment will be divided into four areas – R&D (5 billion won), commercialization (4.5 [...]

Compensation System to Stop Phone Sellers’ Illegal Subsidies to be Modified

Compensation System to Stop Phone Sellers’ Illegal Subsidies to be Modified

SEOUL, Jun. 4 (Korea Bizwire) — Phoneparazzi, a compensation system to hunt down phone sellers who illegally give monetary support to customers, will be modified to draw compensation money from both mobile distributors and telecommunications carriers. First introduced in June 2014, the Phoneparazzi system has been run by money solely provided by distributors. Anyone who [...]

Galaxy S6 Smartphones Suffer Weaker than Expected Sales in S. Korea

Galaxy S6 Smartphones Suffer Weaker than Expected Sales in S. Korea

SEOUL, Apr. 22 (Korea Bizwire) – Samsung Electronics Co.’s newest high-end smartphones – the Galaxy S6 and the Galaxy S6 Edge — are seen drawing less than expected attention from consumers, industry data showed Wednesday, casting clouds over the market’s upbeat sales estimate of over 50 million units for 2015. South Korea’s No. 1 tech [...]