SEOUL, Aug. 1 (Korea Bizwire) – Over half of South Korea’s leading corporations have failed to launch a single new business venture in the past five years, according to a recent study. Even Samsung Electronics, the country’s largest conglomerate, has not added any new business objectives to its portfolio in the last decade. A report released [...]
SEOUL, Aug. 1 (Korea Bizwire) – A recent study has revealed that the introduction of digital ordering systems in South Korean restaurants has led to a significant reduction in serving staff, highlighting the growing impact of technology on the service industry. On July 31, the Korea Employment Information Service released a report titled “Analysis of Job [...]
SEOUL, Aug. 1 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to seek measures to extend additional financial support for vendors and customers hit by payment delays on e-commerce platforms of TMON and WeMakePrice, if needed. Choi made the remarks during a macroeconomic meeting, also pledging to swiftly devise policy measures and regulations to [...]
SEOUL, Aug. 1 (Korea Bizwire) — Prosecutors raided the headquarters of TMON and WeMakePrice on Thursday as part of an investigation into the e-commerce platforms’ delayed payments to vendors sparked by a liquidity crisis engulfing the companies. The Seoul Central District Prosecutors Office sent investigators to the two firms’ headquarters, the home of Ku Young-bae, [...]
SEOUL, Aug. 1 (Korea Bizwire) – South Korean food company Ottogi has launched a new instant noodle product that pushes the boundaries of spiciness in the competitive Korean instant noodle market. The new product, named ‘Yeolgwang Rabokki’, boasts a Scoville Heat Unit (SHU) rating of 5,856, matching the company’s notoriously spicy ‘Yeol Ramen’ and surpassing the [...]
SEOUL, Jul. 31 (Korea Bizwire) – Starbucks Korea said Wednesday it will adjust most of its beverage prices to reflect surging costs of coffee beans. Starting Friday, the prices of grande-size (473 milliliters) and venti-size (591 ml) beverages will be raised by 300 won (US$0.22) and 600 won, respectively, while the price of all tall-size beverages [...]
SEOUL, Jul. 31 (Korea Bizwire) – A recent report by CJ ENM’s digital marketing firm MezzoMedia reveals a growing trend among South Korean consumers: maximizing value from limited time across shopping, gaming, and content consumption. The 2024 Consumer Trends Series report, released on July 29, highlights consumers’ increasing preference for products and services that minimize wasted [...]
SEOUL, Jul. 30 (Korea Bizwire) — Kyochon F&B Co., one of South Korea’s major fried chicken brands, said Tuesday it has opened its first store in Canada as it seeks to expand in North American markets. The store is located in the Robson street of Vancouver and offers its signature fried chicken menu series, the [...]
SEOUL, Jul. 29 (Korea Bizwire) – Lee, a 29-year-old office worker, has decided to cut back on the dawn delivery service she once used once or twice a week. Her decision came after learning about the tragic death of a delivery driver in his 40s who was swept away by floodwaters while making early morning deliveries [...]
SEOUL, Jul. 29 (Korea Bizwire) — The government has decided to extend at least 560 billion won (US$445.07 million) of funds to support small vendors suffering from payment delays by the e-commerce platforms TMON and WeMakePrice, the finance ministry said Monday. The two South Korean marketplaces have been in a crisis after failing to make [...]