SEOUL, Dec. 19 (Korea Bizwire) – Nearly one-third of South Korea’s small and medium-sized exporters report being negatively impacted by the country’s ongoing political turmoil, according to a survey conducted by the Korea Federation of SMEs. The survey, conducted from December 10 to 13 among 513 exporting SMEs, revealed that 26.3% of respondents had experienced [...]
SEOUL, Dec. 19 (Korea Bizwire) – The Korea Consumer Agency (KCA) announced on December 18 that domestic brands demonstrated superior value for money in a comprehensive quality and safety evaluation of 10 wireless headphone models currently available in the market. The evaluation covered a wide range of models across different price points and countries of origin: [...]
SEOUL, Dec. 18 (Korea Bizwire) – Woowa Brothers, the operator of South Korea’s leading food delivery platform Baedal Minjok, unveiled “hyper-personalization,” “slow aging,” and “customized consumption” as major dining trends for 2024. The company announced these insights on December 17 at the 2024 Baemin Restaurant Conference in Seoul’s COEX, leveraging its proprietary data to identify [...]
SEOUL, Dec. 18 (Korea Bizwire) — Daewoo Engineering & Construction Co. aims to achieve 1 trillion won (US$695.7 million) in annual net profit by 2027, focusing on key overseas markets while exploring new business opportunities, the company said Wednesday. The ambitious goal was announced by the company’s new CEO Kim Bo-hyun at his inauguration ceremony [...]
SEOUL, Dec. 18 (Korea Bizwire) — Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, was set to meet with Donald Trump Jr., the eldest son of U.S. President-elect Donald Trump, at the president-elect’s Florida resort this week, the group said Wednesday. Chung is visiting the Mar-a-Lago resort Tuesday and Wednesday (U.S. time) to [...]
SEOUL, Dec. 18 (Korea Bizwire) – South Korea’s antitrust watchdog has identified multiple structural factors that could restrict fair competition and harm consumer interests in the country’s generative artificial intelligence market, according to a policy report released on December 17. The Korea Fair Trade Commission (KFTC) announced plans to closely monitor the market and begin reviewing [...]
SEOUL, Dec. 17 (Korea Bizwire) — Hitejinro Co., South Korea’s leading beverage company, will consider building additional overseas plants or acquiring a local company for further expansion after fully establishing its first overseas plant in Vietnam, a company executive said Tuesday. Hitejinro’s US$77 million soju manufacturing plant is under construction at the Green-i-Park industrial complex [...]
SEJONG, Dec. 17 (Korea Bizwire) — A drillship participating in a major gas and oil development project in the East Sea arrived at its first drilling site Tuesday, as it prepares to begin exploration operations amid growing uncertainties in the project due to domestic political situations, according to industry sources. The West Capella, operated by [...]
SEOUL, Dec. 17 (Yonhap) — South Korea’s antitrust regulator said Tuesday it has fined Kakao Mobility Corp., the operator of the country’s top taxi-hailing service, 15.1 billion won (US$10.5 million) for unfair business practices. Kakao Mobility is accused of manipulating its algorithm to direct more ride requests received through its mobile taxi application to cabs under its [...]
SEOUL, Dec. 17 (Korea Bizwire) – Nearly half of South Korea’s small business owners in the food and hospitality sectors report direct or indirect losses due to the ongoing political crisis following the December 3 martial law declaration and subsequent impeachment of President Yoon Suk-yeol. A survey conducted by the Korea Federation of SMEs between [...]