SEOUL, June 13 (Korea Bizwire) — Officials from South Korea’s food and restaurant industry associations called on the government Friday to take steps to reduce import costs of key materials and support public delivery platforms. In a meeting with Prime Minister nominee Kim Min-seok, the officials said recent price increases in the food sector were [...]
SEOUL, June 11 (Korea Bizwire) — Hyundai Steel Co., South Korea’s second-largest steel manufacturer, has temporarily shut down its No. 2 plant in the southeastern city of Pohang due to a prolonged industry-wide slump, the company said Wednesday. The suspension took effect Saturday due to a lack of production volume amid severe industry-wide demand contraction. [...]
SEOUL, June 11 (Korea Bizwire) — Samyang Foods Inc., known for its globally popular Buldak spicy ramyeon, said Wednesday it has completed a plant expansion to meet rising global demand for its signature product. The company said it has constructed a second production facility adjacent to its existing plant in Milyang, some 280 kilometers southeast [...]
SEOUL, June 11 (Korea Bizwire) – South Korea’s major food delivery platforms are under renewed pressure as the Lee Jae-myung administration accelerates discussions on implementing a cap on delivery-related fees — a key campaign pledge aimed at promoting fairer economic practices. At the center of the debate is a proposal from Baemin (operated by Woowa [...]
SEOUL, June 10 (Korea Bizwire) -- HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Tuesday it has secured a 2.4 trillion-won (US$1.76 billion) order to build eight container ships for an Asian shipping company by 2028. The 15,900 twenty-foot equivalent unit (TEU) container carriers will be constructed at the shipyard of HD Hyundai [...]
SEOUL, June 10 (Korea Bizwire) — Musinsa Co., a South Korean fashion platform, said Tuesday it plans to open offline stores in China and Japan in the coming months as part of its global expansion strategy. The company currently offers around 8,000 South Korean fashion brands on its online platform and operates several offline stores [...]
SEOUL, June 10 (Korea Bizwire) — Despite its wealth of manufacturing data, South Korea lacks the standardization and integration infrastructure necessary to fully leverage industrial artificial intelligence (AI), according to a new report calling for more proactive engagement from both government and industry. In its latest publication, “AI-Driven Transformation of Korea’s Key Export Industries,” the [...]
SEOUL, June 10 (Korea Bizwire) — A growing number of South Korean consumers are purchasing eco-friendly agricultural products, but high prices continue to hinder broader adoption, according to a government survey released Monday. The Ministry of Agriculture, Food and Rural Affairs reported that 76.8% of respondents said they had purchased eco-friendly produce at least once in [...]
CHUNCHEON, South Korea, June 5 (Korea Bizwire) — In a bid to stabilize South Korea’s troubled dried pollock (hwangtae) industry, Gangwon Special Self-Governing Province announced on Thursday that it will launch a two-day campaign on June 9–10 to restore order to hwangtae distribution. The initiative will take place at the Jumunjin Traditional Market in Gangneung [...]
SEOUL, June 5 (Korea Bizwire) — LG Display Co., a global leader in display panel manufacturing, said Thursday it will invest 700 billion won (US$515 million) in its domestic organic light-emitting diode (OLED) production facilities. In September, LG Display sold its entire 80 percent stake in its large-size display panel and module plant in China’s [...]