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S. Korean Middle Class Believes They’re Lower Class: Report

S. Korean Middle Class Believes They’re Lower Class: Report

SEOUL, Sept. 23 (Korea Bizwire) — More than half of middle class South Koreans see themselves as members of the lower class, a report said Thursday. NH Investment & Securities Co. conducted a survey of 1,140 South Korean adults, which showed that this year’s median income for a four-person household stood at 5.12 million won

70 pct of Small Restaurant Sales Come from Food Delivery Apps: Survey

70 pct of Small Restaurant Sales Come from Food Delivery Apps: Survey

SEOUL, Sept. 23 (Korea Bizwire) — A considerable part of the revenue generated by small restaurants and bars in South Korea comes from food delivery apps, a survey showed Thursday. The Small Enterprise and Market Service conducted a survey of 300 small restaurants and bars, which showed that they had used delivery apps for an

Confiscated Wristwatches Popular at Customs Auctions

Confiscated Wristwatches Popular at Customs Auctions

SEOUL, Sept. 23 (Korea Bizwire) — The Korea Customs Service (KCS) reported that, among items it has confiscated from smugglers and tourists and put up for sale, luxury wristwatches are gaining popularity. Rep. Kang Jun-hyeon from the Democratic Party referred to the KCS’ report indicating that the customs agency sold confiscated wristwatches worth 2.65 billion

Half of Streaming Service Users Will Cancel Subscription if Prices Increase: Survey

Half of Streaming Service Users Will Cancel Subscription if Prices Increase: Survey

SEOUL, Sept. 23 (Korea Bizwire) — About half of subscribers to over-the-top (OTT) media intend to continue to subscribe if prices increase, a survey showed Thursday. According to a poll conducted by the Korea Creative Content Agency of 3,000 streaming service users between 15 and 59 years of age across the country, the percentage of

KAIST Develops Biocompatible Adhesive Using Tannic Acid in Wine

KAIST Develops Biocompatible Adhesive Using Tannic Acid in Wine

DAEJEON, Sept. 23 (Korea Bizwire) — A research team at the Korea Advanced Institute of Science and Technology (KAIST) said Thursday it had developed an innovative adhesive by mixing wine’s tannic acid with a biocompatible high polymer. Mixing a soluble high polymer with tannic acid generates a coacervate that is sticky like a jelly. The

Hyundai Glovis to Establish Modernized Logistics Center at Incheon Airport

Hyundai Glovis to Establish Modernized Logistics Center at Incheon Airport

SEOUL, Sept. 23 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Thursday it will establish a logistics center furnished with a variety of advanced facilities at the Incheon International Airport’s second logistics complex. The company and the Incheon International Airport Corp. signed an agreement to build and operate a

LG Electronics Makes Foray into Service Robot Market with LG Uplus

LG Electronics Makes Foray into Service Robot Market with LG Uplus

SEOUL, Sept. 23 (Korea Bizwire) — LG Electronics Inc. said Thursday that it will expand its service robot business with the LG CLOi ServeBot in collaboration with mobile carrier LG Uplus Corp. The two affiliates of LG Group agreed to cooperate in the expansion of the service robot business, exploration of new business opportunities, exploration

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