SEOUL, Aug. 22 (Korea Bizwire) — The number of Chinese tourists in South Korea declined nearly 70 percent on-year last month, marking a drop for five straight months following China’s ban on sales of Korea-bound trips amid a diplomatic row over the deployment of a U.S. anti-missile system here, government data showed Tuesday. The tally [...]
SEOUL, Aug. 21 (Korea Bizwire) – With economic growth slowing and political tensions surrounding a number of issues continuing to fester, South Korea-China relations are entering a new era with less trade and investment between the two countries, a new report has claimed. The report released on Sunday by the Institute for International Trade suggests [...]
BEIJING, Aug. 20 (Korea Bizwire) — A Chinese sign that read “Hanguocheng,” meaning South Korean food court, on the building of a restaurant mall in Wangjing, the once prosperous Koreatown in northeastern Beijing, has been replaced by “Meishijie,” or Gourmet food street. The change reflects an ever-rising anti-South Korean sentiment in China amid the current [...]
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 [...]
SEOUL, Aug. 16 (Korea Bizwire) – Hotel Lotte Co., a hotel and duty-free unit of South Korean retail giant Lotte, saw its operating profit nosedive in the first six months of this year, data showed Wednesday, amid an ongoing diplomatic row between Seoul and Beijing over the deployment of a U.S. missile defense system here. [...]
SEOUL, Aug. 14 (Korea Bizwire) — The golf course turned THAAD anti-missile system site in southern South Korea was first revealed to environmental authorities last Saturday as part of the government’s electromagnetic radiation and noise survey despite protest from the local community, during which two missile defense systems facing North Korea appeared to be on [...]
SEONGJU, Aug. 13 (Korea Bizwire) — Local residents and activists campaigning against the deployment of an advanced U.S. missile defense system said Sunday they will not accept the outcome of a government survey that ruled out the possibility of its serious environmental damage. On Saturday, the government announced the result of a survey of electromagnetic [...]
SEOUL, Aug. 10 (Korea Bizwire) – Korean Air Lines Co., South Korea’s top airline, said Thursday that it suffered a loss in the second quarter on currency-related issues. The country’s flag carrier logged a net loss of 200 billion won (US$175 million) in the April-June period, the company said in a regulatory filing. But its [...]
SEOUL, Aug. 10 (Korea Bizwire) – Asiana Airlines Inc. said Thursday its losses widened in the second quarter from a year earlier due to foreign currency-related losses. Net loss reached 74.7 billion won (US$65.3 million) in the April-June period, compared to a loss of 26.7 billion won a year earlier, the company said in a [...]
SEOUL, Aug. 10 (Korea Bizwire) – The Ministry of National Defense has said it is ‘regretful’ that the environmental safety and noise test of the THAAD anti-missile system in Seongju in North Gyeongsang Province took place without the participation of local residents. “The Ministry of National Defense asked local residents to participate in the safety [...]