SEOUL, Sept. 11 (Korea Bizwire) – In a significant step towards the future of transportation, POSCO, the South Korean steel giant, has become the world’s first manufacturer to produce specialized steel for hyperloop systems, supplying it to a European test track. On September 10, POSCO announced its participation in the inauguration ceremony of the European Hyperloop [...]
SEOUL, Sept. 10 (Korea Bizwire) – The disparities in South Korea’s apartment market are becoming increasingly pronounced, with a widening gap between the capital region and other parts of the country, according to a recent report on real estate auctions. Data released on September 9 by GG Auction, a specialist in foreclosure and public auction information, [...]
HANGZHOU, China, Sept. 10 (Korea Bizwire) — Alibaba Group’s AliExpress said Tuesday it will step up marketing campaigns in South Korea with an aim of securing more than half of online shopping platform users in South Korea within three to five years. In a press conference held in Hangzhou, AliExpress Korea Chief Executive Ray Zhang [...]
SEOUL, Sept. 10 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Tuesday it has completed building a fiber optic cable plant in Kuwait to expand into the Middle East market. Under a partnership with local builder Rank General Trading and Contracting Co., Taihan Cable has built the plant, the [...]
SEOUL, Sept. 6 (Korea Bizwire) – CJ Logistics, a leading South Korean transportation and logistics company, has reported growing popularity for its AI-driven freight transportation platform, ‘the unban.’ The platform, which directly connects shippers with truck drivers, has gained traction due to its next-day payment system, the company announced on September 5. Launched in July 2023, [...]
SEOUL, Sept. 6 (Korea Bizwire) – As inflation continues to squeeze household budgets, South Korean consumers are increasingly turning to budget-friendly options at convenience stores. CU, one of the country’s leading convenience store chains, reported a significant surge in sales of products priced under 1,000 won on September 5. The trend reflects a broader shift in [...]
SEOUL, Sept. 5 (Korea Bizwire) – A new study has revealed the stark reality of homeownership in South Korea’s capital, where the average family would need to save their entire income for over a decade to afford a mid-priced apartment. According to data from KB Real Estate Data Hub released on September 3, a household with [...]
SEOUL, Sept. 4 (Korea Bizwire) — SK Telecom Co., South Korea’s leading telecommunications company, said Wednesday it will join hands with Perplexity, a U.S. artificial intelligence startup, in a bid to transform the global search engine market. In a joint press conference in Seoul, SK Telecom and Perplexity outlined their vision to co-lead the AI [...]
SEOUL, Sept. 4 (Korea Bizwire) – In a significant shift within South Korea’s fiercely competitive food delivery app market, the long-standing market leader, Baemin, has seen its market share dip below 60% for the first time in two years. This change comes as rival Coupang Eats gains ground, capitalizing on the prolonged free delivery competition that [...]
SEOUL, Sept. 3 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean defense and shipbuilding company, said Tuesday it has begun maintenance, repair and overhaul (MRO) services for a 40,000-ton logistics support vessel of the U.S. Navy. The Wally Schirra arrived at Hanwha Ocean’s shipyard in Geoje on the southern coast of South Korea [...]