SEOUL, March 12 (Korea Bizwire) — The number of foreigners who visited South Korea in February marked a sharp decline from a year ago despite its hosting of the Winter Olympics in the alpine town of PyeongChang, data from the justice ministry showed Monday. According to the data, 1,077,903 foreigners entered the country last month, [...]
SEOUL, Mar. 5 (Korea Bizwire) — Chinese investors turned net buyers of South Korean stocks in 2017 as Seoul and Beijing mended fences after a row over an advanced U.S. missile shield, data showed Monday. Investors from the neighboring country bought a net 388 billion won (US$358 million) worth of South Korean stocks last year, [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s trade deficit in the tourism sector hit a new record high last year, data showed Wednesday, due largely to a drop in Chinese visitors and a growing number of South Koreans traveling abroad. The country’s tourism-related earnings came to US$13.32 billion in 2017, down 22.5 percent from [...]
SEOUL, Feb. 14 (Korea Bizwire) — South Korea’s 81 business groups posted a 46 percent on-year jump in their combined operating profit last year, helped by strong results on the part of leading players, a local corporate monitoring website said Wednesday. As of Friday, businesses that have released their preliminary earnings reports and are among [...]
SEOUL, Feb. 8 (Korea Bizwire) — Lotte Shopping Co., the retail affiliate of South Korea’s fifth-largest conglomerate Lotte Group, said Thursday it swung to the red in 2017 from a year earlier amid a diplomatic row between Seoul and Beijing over the deployment of a U.S. anti-missile system here. Its losses reached 20.6 billion won [...]
SEOUL, Jan. 12 (Korea Bizwire) — President Moon Jae-in on Friday called for efforts to further upgrade the nation’s airport capacity and promote its advanced airport operation systems overseas. He attended a ceremony marking the construction of a second passenger terminal at Incheon International Airport, the nation’s main gateway south of Seoul. “Incheon airport must [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korean retail giant Lotte is facing a bumpy road as its latest negotiations over the sale of its hypermarket chain in China fell through, industry sources said Wednesday. In September, the business group announced its decision to pull out Lotte Mart in China after it suffered major losses [...]
SEOUL, Dec. 22 (Korea Bizwire) – The number of Chinese tourists in South Korea declined 42.1 percent on-year in November, marking the ninth straight month of decrease following the diplomatic row between the two countries over the deployment of a U.S. anti-missile system here, government data showed Friday. The tally of Chinese visitors came to [...]
SEOUL, Dec. 13 (Korea Bizwire) – As it stands, the likelihood of Lotte Mart’s China operations being sold by the end of the year appears to be low. Including 13 Lotte Super stores, Lotte Mart had been ready to wash its hands of 113 locations in China since September of this year, after finding it [...]
SEOUL, Dec. 3 (Korea Bizwire) — China’s economic retaliation against South Korea is estimated to have led to some 7.5 trillion won (US$6.8 billion) in losses for the country’s tourism industry, data showed Sunday. According to the data compiled by the National Assembly’s Budget Office, South Korea’s tourism and accommodation industries suffered a sharp decrease [...]