SEOUL, April 14 (Korea Bizwire) – Samsung Electronics is launching a research and development program in pursuit of new autonomous navigation technology. According to Samsung’s recruiting website, the Samsung Advanced Institute of Technology is seeking experienced researchers to work in the field of autonomous driving. Autonomous vehicles are automobiles that can drive to a destination on [...]
SEOUL, April 14 (Korea Bizwire) – Installing charging devices for electric vehicles (EV) at gas stations will become easier as early as August of this year. The Ministry of Trade, Industry and Energy announced new legislation that lowers the explosion prevention standards of EV chargers installed at gas stations. After collecting ideas from the public and an [...]
SEOUL, April 14 (Korea Bizwire) – South Korea’s exports of automobiles plunged 10.8 percent in the first quarter from a year earlier, data showed Wednesday, amid falling demand from emerging markets. South Korean carmakers shipped 654,494 units of vehicles abroad over the January-March period, compared with the 733,759 units posted a year earlier, the data compiled by the Korea Automobile Manufacturers’ Association [...]
SEJONG, April 14 (Korea Bizwire) – South Korea’s antitrust watchdog said Wednesday that it has recommended global furniture giant IKEA revise itsterms regarding refunds for canceled deliveries. IKEA, which opened its first store in southern Seoul in 2014, is running a delivery service for South Korean customers who are familiar with free packaging and door-to-door delivery. The service costs [...]
SEOUL, April 14 (Korea Bizwire) – South Korea ranks 11th in the worldin terms of military strength, behind Japan at seventh and ahead of North Korea at 25th, according to an annual U.S. military power index. The South had a firepower index of 0.2824, right behind Italy’s 0.2724, according to the Global Firepower (GFP) 2016, which takes over 50 factorsinto account to assess military power of countries. The smaller the index, [...]
SEJONG, April 14 (Korea Bizwire) – South Korea’s antitrust watchdog said Wednesday that it has cleared U.S. tech giant Oracle Corp. of unfair trading practices related to bundling its new softwares with maintenance services. Oracle has been under the Fair Trade Commission (FTC) investigation as the company sold its latest database management system (DBMS) with repair patches to deal with possible bugs and receive major [...]
SEOUL, April 14 (Korea Bizwire) – Research indicates that as housing prices rise, people tend to have children at an older age or not have any children at all. The results of a recent study suggests that policies tied to housing prices could effect the birthrate. A recent report issued by the Korea Institute for [...]
SEOUL, April 14 (Korea Bizwire) – The increasing popularity of drinking at home alone or with family has lead to an increase in online sales of drinking-related products and snacks. According to online shopping site Tmon (www.tmon.co.kr), sales of beer and soju glasses, liquor mixers, and snacks to accompany alcoholic beverages are in high demand. Tmon officials [...]
SEOUL, April 12 (Korea Bizwire) – Major franchise coffee shops in South Korea saw their revenue fall in 2015 in the face of tougher competition with cheap take-out coffee amid economic slowdown, heading to another tough year, data showed Tuesday. Homegrown coffee brands have sprung up in Asia’s fourth-largest economy over the past decade to [...]
SEOUL, April 12 (Korea Bizwire) - Hotel Lotte, one of the leading hotel chains in South Korea, said Tuesday it is ramping up efforts to tap deeper into overseas markets by striking deals to manage hotels in foreign countries. Known for its top-notch management and service, Hotel Lotte currently runs a hotel in the Uzbek capital of [...]