SEOUL, Jan. 12 (Korea Bizwire) – With over 1 million smart speakers sold in South Korea, the battle for smart speakers is expected to intensify both at home and abroad this year. According to data from market analysis firm Strategy Analytics, the number of AI speakers released around the world during the third quarter of [...]
JEJU ISLAND, South Korea, Jan. 11 (Korea Bizwire) -- The international airport on the southern resort island of Jeju resumed operation Thursday after a couple of temporary shutdowns caused by heavy snowfall, the authorities said. Jeju International Airport banned the use of its runways at 6:30 p.m. due to high winds and heavy snow but [...]
SEOUL, Jan. 11 (Korea Bizwire) – The governor of the Financial Supervisory Service, Choi Heung-sik, is facing resignation calls from investors over his anti-cryptocurrency viewpoint. The FSS has found itself in hot water after threatening to ban all cryptocurrency transactions in South Korea, as frustrated protestors took to the official website of the presidential Blue House [...]
SEOUL, Jan. 11 (Korea Bizwire) – A new initiative from the Ministry of Culture, Sports and Tourism will result in the construction of a number of arts and culture schools for seniors. The culture ministry announced the comprehensive plan for arts and culture education on Thursday, which will see new educational institutions for senior citizens built [...]
SEOUL, Jan. 11 (Korea Bizwire) – With demand for home meal replacements on the rise, meal kits are gaining popularity in South Korea. Unlike ready-made meals that can be eaten after simply being warmed up in a microwave, meal kits consist of prepared ingredients and sauces that consumers must cook on their own. According to [...]
SEOUL, Jan. 11 (Korea Bizwire) – South Korea’s justice ministry is drawing up legislation aimed to curb overheating in the virtual currency market, including a complete shutdown of all cryptocurrency exchanges in the country, its minister said Thursday. “The ministry is preparing legislation that basically bans any transactions based on a virtual currency through the [...]
SEOUL, Jan. 11 (Korea Bizwire) – Xiaohongshu, a Chinese social e-commerce mall said Thursday it is looking for South Korean companies who will sell their products on its rapidly growing platform. Launched in 2013, Xiahongshu, also known as RED, is an online retail mall with more than 75 million registered users and also has a [...]
LAS VEGAS, Jan. 11 (Korea Bizwire) – LG Electronics Inc. will begin operation of its washing machine plant in Tennessee several months earlier than scheduled, a top company official said Wednesday, in an apparent move to better cope with possible U.S. safeguard measures. Jo Seong-jin, CEO of the South Korean tech giant, said the company had planned to begin the operation of the US$250 million plant in February 2019, but it [...]
SEOUL, Jan. 11 (Korea Bizwire) – Labor and management at Paris Baguette, South Korea’s largest bakery franchise, on Thursday reached an agreement to set up an affiliate to hire bakers, ending a months-long dispute over employment. In September, the government said SPC Group, the franchise’s operator, violated the country’s labor laws in connection with the hiring conditions of more than 5,300 bakers [...]
BUCHEON, Jan. 11 (Korea Bizwire) – The Korea Manhwa Contents Agency is set to hold an exhibition of cartoons in Los Angeles as part of promotional activities for the 2018 PyeongChang Olympics. Combining the Winter Olympic Games and South Korean cartoons, the exhibition will be held around a month before the Olympics kick off, with [...]