SEOUL, Oct. 31 (Korea Bizwire) – South Korean businesses have canceled their Halloween promotional events as the country mourns the death of more than 150 people in a massive stampede in central Seoul, companies said Monday. Lotte Department Store, a leading shopping mall, said it has called off its plans to hold Halloween parades and [...]
SEOUL, Oct. 31 (Korea Bizwire) — Retail sales in South Korea grew 7.5 percent on-year in September on an increase in people’s outdoor activities amid eased antivirus curbs, data showed Monday. The combined sales of 25 major offline and online retailers came to 14.21 trillion won (US$9.98 billion) last month, compared with 13.2 trillion won [...]
SEOUL, Oct. 28 (Korea Bizwire) – Lotte Confectionery Co., a major South Korean snacks and ice cream maker, said Thursday it is holding a broad promotional campaign in foreign countries like Kazakhstan, Taiwan, the Philippines and Singapore ahead of Pepero Day. Pepero, the brand’s longtime best seller, is a thin cookie stick with an outer [...]
SEOUL, Oct. 28 (Korea Bizwire) – The Korea Agriculture Technology Promotion Agency has developed an artificial intelligence (AI)-based mandarin orange sorting machine that is now used at a packing house in Seogwipo on Jeju Island. The agency developed an AI system that can detect common defects on mandarin oranges with an accuracy rate of 99 [...]
SEOUL, Oct. 28 (Korea Bizwire) — POSCO and Samsung Electronics Co. will jointly push for the localization of xenon, a key material gas used for chipmaking. Samsung, the world’s largest memory chip maker, has been importing all of the xenon it uses from overseas. The two parties announced on Thursday that they had signed a [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s property prices are expected to maintain a downward trend as interest rates are expected to stay high through at least early 2023, a state-run think tank said Thursday. The average price of houses in the greater Seoul area in the July-September period of 2022 decreased 1.19 percent [...]
SEOUL, Oct. 27 (Korea Bizwire) — Samsung Electronics Co.’s new Chairman Lee Jae-yong called on employees Thursday to rise up to challenges and to focus more on technology development. “Now is time for us to mount more bold challenges. Our survival depends on future technologies,” he said in a message posted on the company’s internal [...]
SEOUL, Oct. 26 (Korea Bizwire) — Good Stuff Eatery (GSE), a premium burger brand frequented by popular figures like former U.S. President Barack Obama, has retracted its earlier announcement that it will retreat from South Korea after five months of operation, generating confusion. GSE’s first and only store in Gangnam, brought in by the food [...]
SEOUL, Oct. 26 (Korea Bizwire) — The Korean branch of the Organization for Economic Cooperation and Development (OECD) called on Samsung Heavy Industries Co. on Wednesday to fulfill due corporate responsibility to better ensure worksite safety following a deadly crane accident in 2017. In May 2017, two cranes collided at the shipbuilder’s shipyard in the [...]
SEOUL, Oct. 25 (Korea Bizwire) — Cigarette maker Philip Morris International Inc. said Tuesday it will launch the new IQOS ILUMA e-cigarette heating device next month, as competition heats up in South Korea’s growing non-combustible tobacco market. The IQOS ILUMA is the latest heatable e-cigarette device from the U.S. tobacco maker in three years. The [...]