SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to pursue investment projects worth 2 trillion won (US$1.44 billion) over the next 10 years with businesses to leverage smart and clean energy technologies in the shipbuilding industry. The government unveiled the initiative as part of Vision 2040, a strategic plan [...]
SEOUL, Jul. 2 (Korea Bizwire) – Hyundai Department Store announced on July 1 that it is introducing an AI-powered advertising designer called OneStep in collaboration with GiantStep, a company specializing in real-time content and generative AI solutions. OneStep is a program that generates advertising images based on user-input event descriptions. For instance, when a user enters [...]
SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jul. 1 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has won orders totaling 2.15 trillion won (US$1.55 billion) for eight carriers from two Middle Eastern shippers. Hanwha Ocean will build four liquefied natural gas (LNG) ships for one undisclosed Middle Eastern shipper at a cost of 1.43 trillion [...]
SEOUL, Jul. 1 (Korea Bizwire) — Over 60 percent of large companies in South Korea predict the country’s exports to see on-year growth during the second half of the year, according to a poll released Monday. According to the survey conducted recently by polling agency Mono Research on the top 1,000 domestic companies in terms [...]
SEOUL, Jul. 1 (Korea Bizwire) — The agricultural ministry said Monday it has launched steps to purchase 50,000 tons of rice in order to stabilize its price. The latest move comes in line with efforts to reduce the 150,000 tons of rice in storage, which was harvested in 2023, in the market this year, according [...]
SEOUL, Jul. 1 (Korea Bizwire) – On rainy summer days in Seoul, South Koreans are more likely to indulge in traditional comfort foods like bindaetteok (mung bean pancakes) and sujebi (hand-pulled dough soup), according to recent credit card data. The analysis, conducted by KB Kookmin Card, reveals a shift in dining patterns influenced by weather conditions. [...]
SEOUL, June 30 (Korea Bizwire) – In a significant development for agricultural trade, South Korean and U.S. quarantine authorities have reached an agreement on the export of fresh ginseng to the United States and the import of Texas grapefruit to South Korea, the government announced on Sunday. The negotiations, which have spanned several years, have [...]
SEOUL, Jun. 28 (Korea Bizwire) — South Korea’s industry ministry said Friday it has discussed ways to expand ties in addressing supply chain and export control issues with Washington under a regular bilateral dialogue. Industry Minister Ahn Duk-geun and his U.S. counterpart, Gina Raimondo, discussed related matters during the Supply Chain Commercial Dialogue (SCCD) in [...]
SEOUL, Jun. 28 (Korea Bizwire) — South Korea’s standards agency said Friday it has discussed ways to expand ties with U.S. counterparts in addressing standards-related issues in emerging technologies. The meeting among the Korea Agency for Technology and Standards (KATS), the American National Standards Institute and the National Institute of Standards and Technology (NIST) included [...]