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As Fresh Produce Prices Soar in South Korea, Retailers Race to Preserve Freshness

As Fresh Produce Prices Soar in South Korea, Retailers Race to Preserve Freshness

SEOUL, Mar. 19 (Korea Bizwire) – With apple prices hitting record highs and fresh food costs skyrocketing, retail chains in South Korea are deploying innovative techniques to extend the shelf life of fruits and vegetables, seeking to minimize wastage of these increasingly precious and perishable commodities. At Lotte Mart, the company has been installing “Pure Space” [...]

As Inflation Bites, South Korean Households Cut Back on Private Tutoring

As Inflation Bites, South Korean Households Cut Back on Private Tutoring

SEOUL, Mar. 19 (Korea Bizwire) – As stubbornly high inflation persists, South Korean households are tightening their purse strings even on private education expenses, long considered the last bastion of family budgets, according to data released on March 18. BC Card, a major credit card company, reported a staggering 24 percent year-over-year plunge in education-related spending [...]

SK Hynix Begins Mass Production of Latest HBM3E Chips

SK Hynix Begins Mass Production of Latest HBM3E Chips

SEOUL, Mar. 19 (Korea Bizwire) — South Korean chipmaker SK hynix Inc. said Tuesday it has started mass production of the latest high band width memory (HBM) chips, solidifying its leadership position in the high-performance artificial intelligence (AI) memory semiconductor sector. It came seven months after the company announced the development of the fifth-generation HBM3E [...]

IKEA to Invest US$327 Mln for Expansion in S. Korea

IKEA to Invest US$327 Mln for Expansion in S. Korea

SEOUL, Mar. 19 (Korea Bizwire) — Swedish furniture giant IKEA will invest 300 million euros (US$327 million) in South Korea over the next three years to gain a bigger share in Asia’s fourth-biggest economy, the company’s retail manager has said. IKEA, which will celebrate 10 years in business here in December, currently operates four stores [...]

Hyundai Motor Named Official Sponsor of MLB World Tour in Seoul

Hyundai Motor Named Official Sponsor of MLB World Tour in Seoul

SEOUL, Mar. 19 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading automaker, said Tuesday it has been named an official sponsor of the U.S. Major League Baseball (MLB) World Tour Seoul Series set to open in South Korea this week. The tour features regular MLB season games played in various countries, with this year’s [...]

DGIST President Vows to Grow DGIST as World-leading Research Univ.

DGIST President Vows to Grow DGIST as World-leading Research Univ.

DAEGU, Mar. 19 (Korea Bizwire) — South Korea stands as an outstanding force in the global chipmaking arena, led by industry giants like Samsung Electronics Co. and SK hynix Inc., leaders in memory chip manufacturing. South Korea’s semiconductor exports amounted to US$99.7 billion last year, accounting for some 16 percent of the country’s overall overseas [...]

Wives of L.A. Dodgers Players Flock to K-Beauty Mecca During Seoul Visit

Wives of L.A. Dodgers Players Flock to K-Beauty Mecca During Seoul Visit

SEOUL, Mar. 19 (Korea Bizwire) – As the Los Angeles Dodgers kicked off their MLB World Tour in the South Korean capital, the wives of the team’s players embarked on a pilgrimage of their own — to the hallowed grounds of K-beauty retail mecca Olive Young. On Thursday afternoon, a group of around 10 wives, including [...]

Coupang Eliminates Delivery Fees for Food Orders as Perk for Subscription Members

Coupang Eliminates Delivery Fees for Food Orders as Perk for Subscription Members

SEOUL, Mar. 19 (Korea Bizwire) – Starting March 26, members of Coupang’s premium subscription service, Wow, will be able to order food through the company’s delivery platform, Coupang Eats, without paying any delivery fees, the company announced.  In a bid to alleviate the burden of delivery costs for consumers, Coupang Eats will introduce an “unlimited free [...]

Hyundai and Kia Join Efforts to Bolster Fire Safety for Electric Vehicles

Hyundai and Kia Join Efforts to Bolster Fire Safety for Electric Vehicles

SEOUL, Mar. 19 (Korea Bizwire) – Hyundai Motor and Kia have formed a partnership with government agencies, academic institutions, and industry associations to develop advanced firefighting technologies aimed at improving the safety of electric vehicles in the event of fires. On March 18, the automakers signed a joint agreement with the National Fire Agency Research Institute, [...]

Samsung and LG Trade Barbs Over Market Share and Product Features

Samsung and LG Trade Barbs Over Market Share and Product Features

SEOUL, Mar. 18 (Korea Bizwire) – With Samsung Electronics and LG Electronics unveiling their new flagship TV lineups and premium all-in-one washer-dryer combos for 2024, the fierce rivals have engaged in an increasingly acrimonious marketing battle, taking thinly veiled shots at each other’s claims of superiority.  The dispute began when Han Jong-hee, the CEO of Samsung’s [...]