SEOUL, Mar. 27 (Korea Bizwire) — LG Group said Wednesday it will invest 100 trillion won (US$74.4 billion) in South Korea by 2028 to sharpen future technologies and seek new growth drivers. Unveiled at the group’s annual shareholders meeting in Seoul, the long- and mid-term investment plan places an emphasis on advancing future technologies, including [...]
SEOUL, Mar. 27 (Korea Bizwire) – While giants like E-Mart are trimming their workforces, a clutch of discount retailers led by chains like Daiso and Chinese e-commerce platforms like AliExpress and Temu are aggressively hiring in South Korea. Their lure? Offering consumers unbeatable value for money on a wide range of merchandise. According to figures released [...]
SEOUL, Mar. 27 (Korea Bizwire) – As the European Union expands its environmental, social, and governance (ESG) regulations on exports, South Korean companies appear to be lagging in their awareness and preparedness, according to a recent survey conducted by the Korea Chamber of Commerce and Industry (KCCI). The survey, conducted with 205 domestic exporting firms, revealed [...]
SEOUL, Mar. 26 (Korea Bizwire) – South Korean food giant Nongshim announced on Saturday that it will introduce its iconic “Hangang Shin Ramyun” instant noodles to over 800 chefs, judges, and gourmets attending the Asia’s 50 Best Restaurants awards ceremony in Seoul on March 26. Regarded as the “Academy Awards of gastronomy,” the Asia’s 50 Best [...]
SEOUL, March 25 (Korea Bizwire) – Finance Minister Choi Sang-mok said Monday that the government will devise measures to boost the competitiveness of the farming industry and revamp its logistics structure as surging prices of fruits and fresh food items have pushed up inflation. Choi announced the plan during a visit to a major discount [...]
SEJONG, Mar. 25 (Korea Bizwire) – Over the past five years, South Korean customs authorities have seized imported counterfeit goods worth over 2.1 trillion won, with products originating from China accounting for a staggering 1.8 trillion won, highlighting an influx of intellectual property violations. According to data from the Korea Customs Service released on Friday, the [...]
SEOUL, Mar. 25 (Korea Bizwire) – Samsung Electronics remained tight-lipped on Wednesday after South Korean authorities recognized birth defects in children of former semiconductor factory workers as work-related injuries, reopening scrutiny over the tech giant’s commitment to employee welfare. The landmark ruling by the Korea Workers’ Compensation and Welfare Service covered three cases where children born [...]
SEOUL, Mar. 25 (Korea Bizwire) – Alibaba Group, the Chinese e-commerce behemoth behind platforms like AliExpress, has announced plans to invest $200 million to establish a logistics center in South Korea, setting off alarm bells across the country’s e-commerce and logistics industries. The move to secure a Korean logistics hub, the first since Alibaba’s entry into [...]
SEOUL, Mar. 25 (Korea Bizwire) – Karrot, a homegrown South Korean app that facilitates hyperlocal community interactions, is rapidly gaining traction in Canada, cracking the top 10 rankings on both the Google Play Store and Apple’s App Store in the free social app category. According to industry sources on Friday, Karrot secured the No. 5 and [...]
SEOUL, Mar. 25 (Korea Bizwire) – A stark divide exists between the paychecks of top executives and ordinary employees at South Korea’s major conglomerates, with a new analysis revealing that executives earn on average more than 11 times the salary of regular workers. According to data compiled by Chaebul.com from the 2023 fiscal year business reports [...]