SEOUL, Apr. 9 (Korea Bizwire) — Big companies in South Korea increased their investments in research and development (R&D) activities last year despite decreased earnings, a corporate data tracker said Tuesday. Their combined R&D investments rose 9.4 percent to 73.42 trillion won (US$54 billion) in 2023 from 67.14 trillion won a year earlier, according to [...]
SEOUL, Apr. 9 (Korea Bizwire) – Burger King faced an uproar recently after announcing it was discontinuing sales of its signature Whopper burger, only to later suggest it was revamping the longtime menu item, in an apparent case of publicity-seeking misdirection. The burger chain had already drawn criticism in recent months for raising Whopper prices multiple [...]
SEOUL, Apr. 8 (Korea Bizwire) — South Korea’s antitrust regulator has launched an inspection into China’s Temu shopping app on suspicions of the retail platform’s false advertising and other unfair business practices, officials said Monday. The Fair Trade Commission (FTC) recently sent documents to Temu for a probe to see if it violates South Korea’s [...]
SEOUL, Apr. 8 (Korea Bizwire) — Children’s products sold on AliExpress, one of the biggest Chinese online retail platforms, have been found to contain cancer-causing substances as much as 56 times higher than permitted levels, the Seoul city government said Monday. The city released the discovery following a recent safety examination of 31 best-selling products [...]
INCHEON, Apr. 8 (Korea Bizwire) – Alarmingly high levels of cancer-causing heavy metals have been detected in inexpensive jewelry sold on popular Chinese e-commerce platforms, prompting South Korean customs officials to crack down on the hazardous imports. The Incheon Central Customs Office announced on April 5 that tests on 404 jewelry items purchased from sites [...]
SEOUL, Apr. 5 (Korea Bizwire) – South Korean consumers have been rapidly embracing Chinese e-commerce platforms like Alibaba’s AliExpress and Pinduoduo’s Temu, lured by steep discounts and aggressive promotional campaigns. However, this surge in popularity has not come without concerns over product quality, delivery delays, and regulatory compliance. AliExpress, a subsidiary of the Chinese tech giant [...]
SEOUL, Apr. 4 (Korea Bizwire) – In a striking surge of market dynamics, Temu, the Chinese shopping platform, saw its South Korean user base grow by over 40% last month, closely rivaling the more established AliExpress. According to analytics services WiseApp and Mobile Index, Temu’s user count in South Korea grew from 5.8 million in [...]
SEOUL, Apr. 4 (Korea Bizwire) –Despite raking in over 1 trillion won in sales in South Korea last year, the French luxury brand Dior only donated a paltry sum to charity that paled in comparison to its immense profits in the country, according to regulatory filings. Christian Dior Couture Korea reported domestic revenue of 1.05 [...]
ULSAN, Apr. 4 (Korea Bizwire) — South Korean shipbuilder HD Hyundai Heavy Industries Co. on Thursday delivered a 3,000-ton diesel submarine to the Navy, which will serve as a key asset to deter threats posed by North Korea. The submarine, named after famous Korean independence activist Shin Chae-ho (1880-1936), was delivered to the Navy at [...]
SEOUL, Apr. 3 (Korea Bizwire) — Baedal Minjok, or Baemin, a delivery app, said Wednesday it will begin delivering Starbucks coffee and food in South Korea from later this month as it strives to strengthen its services. Starbucks has delivered its coffee, variation beverages and food products to customers through its own app. Baemin will [...]