SEOUL, Aug. 10 (Korea Bizwire) — The South Korean government on Thursday postponed a formal environmental survey on the the advanced U.S. missile defense system deployed in a southern town due to a fierce protest by local residents and activists. The defense and environment ministries had planned to conduct the joint study of electromagnetic radiation [...]
BEIJING, Aug. 8 (Korea Bizwire) — Tensions between South Korean and China over the deployment of a THAAD anti-missile system is spilling over into the 25th anniversary of diplomatic relations between the two countries, as reports suggest celebrations will be held separately, with the upcoming events rumored to be reduced in scale compared to years [...]
SEOUL, Aug. 6 (Korea Bizwire) — The number of South Koreans traveling to China plunged from April through June of this year amid the diplomatic row over Seoul’s decision to deploy U.S. anti-missile defense systems on its soil, tourism industry data showed Sunday. The total visitors going to China fell by 50 to 60 percent [...]
SEOUL, Aug. 3 (Korea Bizwire) — Subsidiaries of South Korean retail giant Lotte Group saw their earnings tumble in the second quarter, data showed Thursday, stung by China’s retaliation over Seoul’s decision to deploy an advanced U.S. missile defense system. In early March, Lotte agreed with the Seoul government to swap its golf course in [...]
SEOUL, Aug. 1 (Korea Bizwire) – Hyundai Motor Co. said Tuesday its sales fell 1.8 percent last month from a year earlier, hit by weakening overseas demand, particularly in the Chinese market. The country’s biggest carmaker by sales sold a total of 333,180 vehicles in July, down from 339,417 units a year earlier, the company [...]
SEOUL, Jul. 14 (Korea Bizwire) — China’s consumer market that once offered vast opportunities for South Korean exporters has become less penetrable as Chinese firms make goods that compete with imports, industry data showed Friday. Samsung Electronics, which in 2012 ousted Apple Inc. to hold the top market share for smartphones in China, fell to [...]
SEOUL, Jul. 13 (Korea Bizwire) — With growing hope that the Chinese government’s ban on Korean culture products will be lifted, the entertainment industries of both countries have started to perk up in anticipation. In recent years, the export of Korean culture has become an important source of revenue for the Korean economy, as well as [...]
SEOUL, July 10 (Korea Bizwire) – The head of South Korean retail giant Lotte vowed on Monday to boost the group’s transparent management as it attempts to tide over a string of troubles through a governance shakeup. During an IR session held in Tokyo, Lotte Group chairman Shin Dong-bin said his group will be able [...]
SEOUL, Jul. 10 (Korea Bizwire) — The number of foreign cruise tourists visiting South Korea has declined sharply in recent months, government data showed Monday, amid a diplomatic row with China over the deployment of a U.S. anti-missile system. China has been banning package tours to South Korea since March as part of its economic [...]
SEOUL, Jul. 6 (Korea Bizwire) — South Korea’s share in the Chinese, U.S. and European auto markets has been declining for the past four years amid tense competition from Japanese and American automakers, industry sources said Thursday. South Korea’s share of the global auto market stood at an average 5.8 percent in the three major [...]