SEOUL, Dec. 18 (Korea Bizwire) – South Korea’s antitrust watchdog has identified multiple structural factors that could restrict fair competition and harm consumer interests in the country’s generative artificial intelligence market, according to a policy report released on December 17. The Korea Fair Trade Commission (KFTC) announced plans to closely monitor the market and begin reviewing [...]
Batavia, Illinois, Dec. 17 (Korea Bizwire) — Every day, scientists, engineers and technicians at Fermilab push the boundaries of knowledge in fields like particle physics, accelerator technology, quantum information science and astrophysics. Read about 10 ways the laboratory has advanced science and technology in 2024. Additionally, a video highlighting the laboratory’s accomplishments may be viewed here. [...]
SEOUL, Dec. 17 (Korea Bizwire) — South Korea faces tough challenges in advancing its alliance with the United States amid a political crisis from President Yoon Suk Yeol’s martial law decree earlier this month, with less than a month to go before U.S. President-elect Donald Trump’s second term begins. Following last week’s parliamentary vote to [...]
SEOUL, Dec. 17 (Korea Bizwire) — Back in presidency, Donald Trump is expected to reopen direct talks with North Korean leader Kim Jong-un to address escalating military threats from the North. But clinching a deal would depend on whether Washington is willing to recognize Pyongyang as a nuclear state, experts said. Tackling security threats involving [...]
SEOUL, Dec. 17 (Korea Bizwire) – A recent study by Woori Financial Group reveals that nearly 60% of South Korea’s Generation X—those born in the 1970s—have not begun preparing for retirement. The findings, published in Woori’s 2024 Trend Report, highlight the financial challenges faced by this generation, many of whom are burdened with supporting both [...]
SEOUL, Dec. 17 (Korea Bizwire) — Growth projections for South Korea’s export-dependent economy in 2024 have been revised downward, despite robust semiconductor exports, reflecting slower-than-expected recovery in domestic demand amid high interest rates and lingering effects of the COVID-19 pandemic. Earlier in the year, both the South Korean government and major international financial organizations projected [...]
SEOUL, Dec. 17 (Korea Bizwire) – A new analysis of social media data reveals that South Korean consumers are increasingly adopting cost-conscious spending habits, focusing on low-priced and small-packaged products. This shift reflects a growing emphasis on economic efficiency in response to prolonged inflation. Rising Concerns About Inflation According to KPR Digital Communication Research Institute, [...]
WASHINGTON, Dec. 16 (Korea Bizwire) — The South Korea-U.S. alliance is not just between the two countries’ presidents, but one between their governments and between their people, a State Department spokesperson said Monday, stressing that there is no “diminution” in the bilateral partnership in the wake of President Yoon Suk Yeol’s impeachment. Matthew Miller, the [...]
SEOUL, Dec. 17 (Korea Bizwire) – The percentage of South Koreans who play video games has dropped below 60% for the first time in a decade, marking a significant decline from its peak during the COVID-19 pandemic when nearly three-quarters of the population were gaming. According to a new survey released on December 16 by the [...]
SEOUL, Dec. 17 (Korea Bizwire) — Hitejinro Co., South Korea’s leading beverage company, will consider building additional overseas plants or acquiring a local company for further expansion after fully establishing its first overseas plant in Vietnam, a company executive said Tuesday. Hitejinro’s US$77 million soju manufacturing plant is under construction at the Green-i-Park industrial complex [...]