SEOUL, Apr. 26 (Korea Bizwire) – Housing expenses represent the biggest monthly financial burden for four out of 10 people in their 20s and 30s in South Korea, according to a recent survey, highlighting the challenges of expensive housing costs for young adults in the country. The poll of 1,547 people in their 20s and 30s, [...]
SEOUL, Apr. 26 (Korea Bizwire) – Baemin (Baedal Minjok), South Korea’s leading food delivery platform, is launching a new subscription service called “Baemin Club” that will provide unlimited discounts on delivery fees. The announcement was made on Tuesday by Woowa Brothers, the company that operates Baemin. The primary benefits of the subscription include free delivery fees [...]
SEOUL, Apr. 26 (Korea Bizwire) — Trade Minister Cheong In-kyo said Friday he expects exports to rise for the seventh consecutive month in April, helped by a recovery of chip shipments. “In April, exports are expected to maintain growth for the seventh consecutive month on the back of robust shipments to the U.S., China and [...]
SEOUL, Apr. 26 (Korea Bizwire) — The finance ministry said Friday the government will lower tariffs levied on seven farm products and other food imports, including cabbages and grapes, starting May to curb still-high inflation. The planned move through the tariff-rate quota is part of the country’s flexible tariff system, where the government temporarily adjusts [...]
SEOUL, Apr. 26 (Korea Bizwire) — POSCO Future M Co., the battery materials unit of POSCO Holdings Inc., said Friday it will set up a joint venture (JV) with Honda Motor Co. in Canada mainly for the supply of a core battery material to the Japanese carmaker. The two companies have signed a memorandum of [...]
SEOUL, Apr. 26 (Korea Bizwire) — McDonald’s Korea said Friday it will raise the prices of 16 menu items by an average of 2.8 percent from May 2 due to higher logistics and labor costs. The 16 menu items subject to price hikes include the Egg Bulgogi Burger, Bulgogi Burger, Cheese Burger and Triple Cheese [...]
SEOUL, Apr. 26 (Korea Bizwire) – Hyundai Motor Company has announced plans to manufacture hybrid vehicles at its upcoming electric vehicle (EV) plant in Georgia, United States, scheduled to commence operations in the latter half of this year. During a conference call discussing the company’s first-quarter earnings on April 25, Lee Seung Jo, Head of Hyundai’s [...]
SEOUL, April 25 (Korea Bizwire) – Kakao Mobility Corp., the operator of South Korea’s leading taxi-hailing service Kakao T, said Thursday it will introduce a new membership category with cheaper commissions for its taxi drivers. Starting from June, the new plan will require 2.8 percent commission from its drivers, compared with the current membership plan, [...]
SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]
SEOUL, Apr. 25 (Korea Bizwire) — The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilize the country as a key export hub for the South Korean automaker, the group said Thursday. Euisun Chung, Hyundai Motor Group’s executive chair, visited the group’s Indian headquarters [...]