SEOUL, May 24 (Korea Bizwire) — HD Hyundai Co., a holding company of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group, said Friday it has joined hands with oil giant Shell in jointly developing technologies for liquefied hydrogen carriers. Under a recently signed joint development agreement in Seongnam, South Korea, HD Hyundai’s two shipbuilding affiliates, HD [...]
SEOUL, May 23 (Korea Bizwire) – South Koreans are feeling the pinch with major chicken franchises raising prices, bringing the era of the 30,000-won chicken bucket closer to reality – a scenario foreshadowed by BBQ Group’s chairman Yoon Hong-geun back in 2022. With dining costs already soaring, more consumers are exploring cost-effective ways to satisfy their [...]
SEOUL, May 22 (Korea Bizwire) – As economic headwinds stir up demand for safe-haven assets, convenience stores in South Korea are seeing a surge of younger buyers snapping up affordable, bite-sized gold bars, underscoring the appeal of the precious metal as a compact investment during turbulent times. Convenience store operators say sales of card-sized gold bars [...]
SEOUL, May 22 (Korea Bizwire) – Surging prices for coffee beans on international markets are putting a strain on South Korean coffee shop operators, raising concerns that the higher costs could lead to increases for consumers. The price of robusta coffee beans has more than tripled since 2020 to $3.97 per kilogram last month, according to [...]
SEOUL, May 22 (Korea Bizwire) – Hy, a South Korean retail company, is set to venture into the food delivery app market next month with the launch of its new platform, Knowk. According to food industry sources on May 20, hy plans to introduce Knowk sometime in June. Ahead of the app’s debut, the company is [...]
SEOUL, May 22 (Korea Bizwire) – South Korea’s imports of bananas and pineapples hit unprecedented highs in April, according to trade statistics released by the Korea Customs Service. The import value of bananas reached $46.3 million last month, a staggering 58.5% increase compared to the same period last year, setting an all-time record. This figure slightly [...]
SEOUL, May 20 (Korea Bizwire) –As health-conscious consumers grow in numbers, zero-calorie drinks have surpassed 50 percent of carbonated beverage sales at convenience stores in South Korea. GS25, a major convenience store chain, announced on May 21 that from January to April of this year, zero-calorie drinks accounted for 52.3 percent of its total carbonated [...]
SEOUL, May 21 (Korea Bizwire) – A tense standoff has emerged between Hyundai Motor Group and the Seoul Metropolitan Government over the proposed height of buildings in the forthcoming Global Business Complex (previously Global Business Center) slated for Seoul’s affluent Gangnam district. The discord centers on the maximum number of floors for the tallest skyscraper in [...]
SEOUL, May 20 (Korea Bizwire) — A Seoul court ordered the state to pay HDC Hyundai Development Co. around 9 billion won (US$6.6 million) in compensation for selling a plot of land used as a former U.S. Army base without decontaminating the soil, judicial officials said Tuesday. In 2016, HDC Hyundai purchased the former Camp [...]
SEOUL, May 20 (Korea Bizwire) – The competition among South Korea’s major food delivery apps — Baedal Minjok, Coupang Eats and Yogiyo — to poach customers from one another is intensifying into a bruising battle. The clash among the three services erupted last year over discounts on delivery fees. After a brief lull, their rivalry reignited [...]