SEOUL, Sept. 25 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Wednesday it has signed an initial pact with Chinese electric automaker BYD for partnership in the logistics business. Under the “strategic” memorandum of understanding, the two companies will cooperate in global logistics forwarding services and share vessel space [...]
SEOUL, Sept. 25 (Korea Bizwire) – GS E&C, a leading South Korean construction firm, announced on September 24 the development of an artificial intelligence-powered translation program called Xi Voice to facilitate communication with foreign workers at construction sites. The innovative tool, designed to address the challenges of a multilingual workforce, can convert spoken Korean into text [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean food company CJ Cheiljedang Corp. said Tuesday it will supply its Bibigo dumpling products to Australia’s Qantas Airways Ltd. as in-flight snacks from next month. CJ Cheiljedang’s two kinds of dumpling products — one based on pork and the other made of pork and kimchi — will [...]
SEJONG, Sept. 23 (Korea Bizwire) – A stark revelation about the economic struggles of South Korea’s self-employed population has emerged from recent tax data, showing that nearly 75% of individual business owners reported monthly incomes below 1 million won in 2022. The figures, released by the National Tax Service and analyzed by Representative Park Sung-hoon of [...]
SEOUL, Sept. 23 (Korea Bizwire) — The industry ministry said Monday a container carrier equipped with a homegrown autonomous system departed from the southeastern port city of Busan to test key technologies, including intelligent navigation and cybersecurity. The 1,800 twenty-foot equivalent unit container carrier plans to run such tests over a one-year period on routes [...]
SEOUL, Sept. 23 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has signed a partnership with the American Bureau of Shipping to jointly develop advanced offshore technologies. Under the agreement, signed during Gastech 2024, an international energy exhibition, in Houston, Texas, last week, the collaboration between Hanwha Ocean and ABS [...]
SEOUL, Sept. 23 (Korea Bizwire) – In a groundbreaking decision, Nexon Korea has agreed to compensate 800,000 players of its popular game MapleStory with 21.9 billion won worth of Nexon Cash, the company’s virtual currency that can be converted to real money. This compensation comes in response to allegations that the company manipulated probabilities for in-game [...]
SEOUL, Sept. 20 (Korea Bizwire) – In a bid to strengthen consumer connections and maximize brand experiences, South Korea’s advertising industry is increasingly turning to experiential marketing strategies. This approach, which goes beyond simply promoting products or services, allows consumers to actively participate and engage with brands, effectively building stronger emotional bonds. One recent example of [...]
SEOUL, Sept. 19 (Korea Bizwire) – The rapid growth of coworking spaces in Seoul, which surged during the COVID-19 pandemic, is now showing signs of deceleration. This shift is attributed to a decline in demand from the startup sector and the recent bankruptcy of WeWork, the pioneer of the coworking model. According to a report released [...]
SEOUL, Sept. 19 (Korea Bizwire) — Container shipping costs from South Korea to the U.S. east coast and Europe increased for the fourth consecutive month in August amid prolonged geopolitical risks in the Red Sea, data showed Thursday. The average shipping cost for a 40-foot container from South Korea to the U.S. east coast rose [...]