SEOUL, Mar. 11 (Korea Bizwire) – In recent years, as marriage rates have fallen, the number of wedding venues across the nation has seen a consistent decline. However, a recent study reveals a significant surge in revenue for these venues, a trend uncovered through a comprehensive analysis of the national wedding market utilizing big data. According [...]
SEOUL, Mar. 11 (Korea Bizwire) – The Gyeonggi Fruit Agricultural Cooperative, tasked with running a fruit supply program for children in the province, is facing hurdles due to the soaring prices of fruits. This initiative, aimed at improving children’s health and dietary habits, provides a variety of fruit snacks to kindergartens, community child centers, comprehensive care [...]
SEOUL, Mar. 11 (Korea Bizwire) – In a strategic shift reflecting broader market uncertainties, several investment funds that previously sought opportunities in flourishing real estate markets in the United States and Europe are now extending their maturity periods, hoping for a rebound. This move comes as fund managers grapple with the challenges of liquidating assets in [...]
SEJONG, Mar. 8 (Korea Bizwire) – Amid intense global competition, particularly from the United States and China, in the utilization of Artificial Intelligence (AI) in the manufacturing sector, the South Korean government has initiated a comprehensive plan to systematically support the transition of private companies to AI autonomous manufacturing. During a meeting held in Seoul on [...]
SEOUL, Mar. 8 (Korea Bizwire) — Chung Yong-jin, heir apparent of South Korea’s Shinsegae Group, has been promoted to chairman to help the retail giant ride out unfavorable business environments and meet rapidly changing customer demands, the group said Friday. Shinsegae Group, which operates the country’s biggest discount store chain and second-biggest department store chain, [...]
SEOUL, Mar. 8 (Korea Bizwire) – In a strategic move to expand its distribution channels, CJ CheilJedang, a major South Korean food company, has launched its popular products, including Hetbahn rice dishes, Bibigo dumplings and beef bone soup, and Gourmet Chinese meals, on K-Venue, the dedicated Korean product category on Alibaba Group’s e-commerce platform, AliExpress. Starting [...]
JEJU, Mar. 8 (Korea Bizwire) – On Jeju Island, several sushi restaurants have been found guilty of misrepresenting the origin of yellowtail fish, falsely labeling them as domestically produced instead of their actual Japanese origin. Jeju’s police force, in a joint crackdown with the National Fisheries Products Quality Management Service’s Jeju branch, identified seven food establishments [...]
SEOUL, Mar. 7 (Korea Bizwire) – In a striking surge, Chinese e-commerce companies are rapidly expanding their foothold in the South Korean market, leveraging ultra-low pricing as their primary strategy. Data from application and retail analysis service WiseApp reveals that these platforms are witnessing unprecedented growth in user numbers. As of last month, AliExpress, a leading [...]
SEOUL, Mar. 7 (Korea Bizwire) — South Korean semiconductor powerhouse SK hynix Inc. has won a non-compete injunction against a former researcher who left to work for its U.S. chipmaking rival Micron Technology Inc., sources said Thursday, amid an intensifying race for cutting-edge artificial intelligence (AI) chips. Last month, a Seoul court granted an injunction [...]
SEOUL, Mar. 7 (Yonhap) — Major South Korean builder Lotte Engineering & Construction Co. (Lotte E&C) said Thursday it has completed the creation of a 2.3 trillion-won (US$1.73 billion) project financing (PF) fund, which will help cut its interest burden from high-interest debt. Five local banks, including KB Kookmin Bank and the state-run Korea Development [...]