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Reporter : Park Jae-hyuk
Wed, June 29, 2022 | 02:48
McDonald's, Burger King, KFC face bleak prospects of selling Korean units
The Korean units of McDonald's, Burger King and KFC are facing growing skepticism over their recent attempts to find new owners for their franchises here, due to deteriorating conditions of both the fast food and financial markets. Citing increased difficulties in fundraising and a growing preference among domestic consumers for healthier foods, industry experts anticipated t...
Oil refiners struggle to avoid tax on windfall gains
SK Innovation, S-Oil, GS Caltex and Hyundai Oilbank appear to be more obedient to government policies amid growing calls from politicians to impose a tax on the windfall profits of the nation's four oil refiners, according to industry officials, Tuesday. A “windfall tax” refers to a higher tax rate on profits generated from a sudden windfall gain to a particular company or in...
Prime minister vows better foreign investment environment
Prime Minister Han Duck-soo promised German and French businesspeople in Korea that the Yoon Suk-yeol administration will improve the foreign investment environment significantly over the next five years, communicating closely with foreign entrepreneurs here in Korea in order to help solve operational difficulties that they face. He made the promise in his keynote speech deli...
Weakening Korean currency no longer boon for exporters
The rapid depreciation of the Korean currency against the U.S. dollar has sounded the alarm not only for importers here, but also exporters who have previously been regarded as beneficiaries of the weaker won, according to industry officials, Sunday. Last Thursday, the local currency fell to the 1,300 won level against the dollar for the first time in nearly 13 years, heighte...
Import goods fair
Korea Importers Association (Koima) Chairman Kim Byung-kwan, front row center, poses with ambassadors from over 40 countries as well as government officials at the opening ceremony of the Import Goods Fair 2022 at COEX in Seoul, Thursday. Koima said the event will also promote Busan's bid to host the World Expo 2030. Courtesy of Koima
Foreign businesspeople learn new perspective on Korea's economic growth
Foreign businesspeople in Korea learned fundamental factors of Korea's economic growth, sharing opinions about strategies for the country to attract foreign direct investment (FDI), during a forum in Seoul hosted by the Korea Trade-Investment Promotion Agency (KOTRA) and the Finland Chamber of Commerce and Industry in Korea, Thursday.
SpaceX's plan to launch Starlink service in Korea next year draws mixed reactions
Consumers and experts have differed on SpaceX's latest announcement of its plan to start offering satellite internet service using Starlink in Korea next year. While consumers have remained skeptical about demand for the service in this country, which already has the world's fastest average internet connection speeds, experts mentioned its commercial potential, urging authori...
What's next for Korea's space program after successful launch of Nuri?
Korea's plan to send a landing module to the Moon by 2031 using a locally developed space rocket has gained momentum thanks to the successful launch of Nuri, according to aerospace experts, Wednesday.
KAI, Hanwha, Hyundai Heavy behind Nuri's successful launch
The successful launch on Tuesday of the Nuri rocket, also known as Korean Space Launch Vehicle II (KSLV-II), was the result of efforts by more than 300 private enterprises that took part in the 2 trillion won ($1.5 billion) government project, according to industry officials, Wednesday. Contributing to the design, manufacture, testing and launch of the locally-developed space...
Yoon urged to enable Korea to fulfill potential as global business hub
President Yoon Suk-yeol should accelerate efforts to abolish regulations conflicting with international standards, in order to prevent Korea from repeating failures in its decades-long drive to become a global business hub, according to business leaders from the U.S. and Europe as well as renowned Korean experts participating in the 2022 Korea Times Forum, Tuesday.
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