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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” [...]

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 [...]

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 [...]

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 [...]

Korean Retailers Tap Young Talent to Revamp Corporate Culture

Korean Retailers Tap Young Talent to Revamp Corporate Culture

SEOUL, Mar. 18 (Korea Bizwire) – On a recent morning at Hyundai Department Store’s headquarters, a junior employee took the stage to provide a most unconventional corporate training: instructing the company’s highest executives on how to market to young consumers.  The speaker, a manager from the cultural content team, regaled the audience of C-suite leaders and [...]

HD Korea Shipbuilding Wins 489.6 Bln-won Order for 3 Ammonia Carriers

HD Korea Shipbuilding Wins 489.6 Bln-won Order for 3 Ammonia Carriers

SEOUL, Mar. 18 (Korea Bizwire) — Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Monday it has bagged a 489.6 billion-won (US$372 million) order to build three very large ammonia carriers for an Oceanian shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the [...]

Ulsan Port Authority Inaugurates New Liquid Cargo Terminal, Eyeing Future as World’s First Hydrogen Hub

Ulsan Port Authority Inaugurates New Liquid Cargo Terminal, Eyeing Future as World’s First Hydrogen Hub

ULSAN, Mar. 15 (Korea Bizwire) – The Ulsan Port Authority celebrated the completion of the ‘North New Port Liquid Terminal’ in Hwangseong-dong, Nam-gu, at the North Port of Ulsan on March 15. The new facility, boasting a 300-meter quay wall, a 440-meter sheltered harbor, and a 12,600 square meter port hinterland, represents a significant enhancement [...]