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Seoul to Spend 537 bln Won for Traditional Markets

Seoul to Spend 537 bln Won for Traditional Markets

SEOUL, Jan. 16 (Korea Bizwire) — South Korea plans to spend 537 billion won (US$478 million) to help nurture the country’s traditional markets, the government said Wednesday. According to the Ministry for SMEs and Startups, around half of the earmarked budget will be spent to help expand parking space and related facilities in a way [...]

Grab Begins Hyundai Kona EV-based Ride-hailing Service

Grab Begins Hyundai Kona EV-based Ride-hailing Service

SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Motor Co., South Korean’s largest carmaker by sales, said Wednesday that Singapore-based Grab began using its Kona Electric for its ride-hailing service this month. In November, Hyundai Motor and its affiliate Kia Motors Corp. jointly invested US$250 million in the Southeast Asian company for a business partnership in [...]

Would Taxi Paging Application Solve Industry Deadlock?

Would Taxi Paging Application Solve Industry Deadlock?

SEOUL, Jan. 15 (Korea Bizwire) — The taxi industry, which is opposing the introduction of ride-sharing ventures, is trying to innovate by introducing new services such as a taxi paging application and premium taxis. This month, the ‘T-One’ taxi app will launch, which will compete against similar apps from Kakao Corp. and SK Telecom Co. [...]

S. Korean Firms Bask in China’s Excavator Market Boom

S. Korean Firms Bask in China’s Excavator Market Boom

SEOUL, Jan. 15 (Korea Bizwire) — South Korean companies, led by Doosan Infracore Co., logged robust sales in China’s excavator market last year as the world’s No. 2 economy increased spending on infrastructure, industry sources said Tuesday. According to the data provided by Eugine Investment & Securities, Doosan Infracore, South Korea’s No. 1 construction equipment [...]

Duty-free Sales Hit Record High in 2018 Despite THAAD Row

Duty-free Sales Hit Record High in 2018 Despite THAAD Row

SEOUL, Jan. 14 (Korea Bizwire) — Sales at South Korean duty-free stores continued to show solid growth, reaching their highest-ever figure in 2018, despite a drop in Chinese travelers following a diplomatic row over the deployment of an advanced U.S. missile defense system here, industry data showed Monday. According to the data from the Korea [...]

Seoul to Introduce New Taxi Design by 2022

Seoul to Introduce New Taxi Design by 2022

SEOUL, Jan. 14 (Korea Bizwire) — The Seoul Metropolitan Government has announced plans to develop vehicles specially designed to serve as taxis, with the goal of introducing the new design by 2022. The city included in its four-year plan a new taxi design to better resemble the city with inclusive features, benchmarking Britain’s signature Black [...]