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Shinsegae Department Store Brings Miniature Luxury Car Models to South Korea

Shinsegae Department Store Brings Miniature Luxury Car Models to South Korea

SEOUL, Mar. 28 (Korea Bizwire) – In an exciting collaboration with the automotive lifestyle brand Peaches, Shinsegae Department Store has announced the introduction of Harrington Cars, miniature vehicle models based on iconic designs from renowned automakers like Mercedes-Benz and Ferrari – a first in South Korea. Harrington Cars are meticulously crafted at half the size of [...]

E-Commerce Giants Coupang and AliExpress Wage Massive Investment Battle in South Korea

E-Commerce Giants Coupang and AliExpress Wage Massive Investment Battle in South Korea

SEOUL, Mar. 28 (Korea Bizwire) – South Korea’s e-commerce market has become the battleground for a high-stakes investment war between domestic giant Coupang and Chinese powerhouse AliExpress, as both companies aggressively pursue market dominance.  The clash intensified after AliExpress, owned by the Alibaba Group, announced plans to invest $1.1 billion (1.5 trillion won) in South Korea [...]

Coupang to Invest 3 Tln Won in Expanding Its Delivery Service Nationwide

Coupang to Invest 3 Tln Won in Expanding Its Delivery Service Nationwide

SEOUL, Mar. 27 (Korea Bizwire) — Coupang Corp., South Korea’s leading e-commerce company, said Wednesday it will invest 3 trillion won (US$2.23 billion) for the next three years to expand its renowned “rocket delivery” nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eight fulfillment [...]

LG Group to Funnel 100 Ttln Won into Future Tech, Growth Drivers by 2028

LG Group to Funnel 100 Ttln Won into Future Tech, Growth Drivers by 2028

SEOUL, Mar. 27 (Korea Bizwire) — LG Group said Wednesday it will invest 100 trillion won (US$74.4 billion) in South Korea by 2028 to sharpen future technologies and seek new growth drivers. Unveiled at the group’s annual shareholders meeting in Seoul, the long- and mid-term investment plan places an emphasis on advancing future technologies, including [...]

Low-Cost Retailers Expand Hiring as Major Chains Cut Payrolls

Low-Cost Retailers Expand Hiring as Major Chains Cut Payrolls

SEOUL, Mar. 27 (Korea Bizwire) – While giants like E-Mart are trimming their workforces, a clutch of discount retailers led by chains like Daiso and Chinese e-commerce platforms like AliExpress and Temu are aggressively hiring in South Korea. Their lure? Offering consumers unbeatable value for money on a wide range of merchandise.  According to figures released [...]

South Korean Exporters Lag in Readiness for EU’s Expanding ESG Regulations

South Korean Exporters Lag in Readiness for EU’s Expanding ESG Regulations

SEOUL, Mar. 27 (Korea Bizwire) – As the European Union expands its environmental, social, and governance (ESG) regulations on exports, South Korean companies appear to be lagging in their awareness and preparedness, according to a recent survey conducted by the Korea Chamber of Commerce and Industry (KCCI). The survey, conducted with 205 domestic exporting firms, revealed [...]

Nongshim to Showcase ‘Hangang Shin Ramyun’ at Prestigious Asia’s 50 Best Restaurants Awards in Seoul

Nongshim to Showcase ‘Hangang Shin Ramyun’ at Prestigious Asia’s 50 Best Restaurants Awards in Seoul

SEOUL, Mar. 26 (Korea Bizwire) – South Korean food giant Nongshim announced on Saturday that it will introduce its iconic “Hangang Shin Ramyun” instant noodles to over 800 chefs, judges, and gourmets attending the Asia’s 50 Best Restaurants awards ceremony in Seoul on March 26.  Regarded as the “Academy Awards of gastronomy,” the Asia’s 50 Best [...]

South Korea Seeks Strategies to Enhance Fruit Industry Competitiveness, Addressing Inflation Challenges

South Korea Seeks Strategies to Enhance Fruit Industry Competitiveness, Addressing Inflation Challenges

SEOUL, March 25 (Korea Bizwire) – Finance Minister Choi Sang-mok said Monday that the government will devise measures to boost the competitiveness of the farming industry and revamp its logistics structure as surging prices of fruits and fresh food items have pushed up inflation. Choi announced the plan during a visit to a major discount [...]

Wave of Counterfeit Goods from China Poses Challenge for South Korea

Wave of Counterfeit Goods from China Poses Challenge for South Korea

SEJONG, Mar. 25 (Korea Bizwire) – Over the past five years, South Korean customs authorities have seized imported counterfeit goods worth over 2.1 trillion won, with products originating from China accounting for a staggering 1.8 trillion won, highlighting an influx of intellectual property violations. According to data from the Korea Customs Service released on Friday, the [...]

Samsung Faces Fresh Scrutiny Over Worker Safety After Birth Defects Ruling

Samsung Faces Fresh Scrutiny Over Worker Safety After Birth Defects Ruling

SEOUL, Mar. 25 (Korea Bizwire) – Samsung Electronics remained tight-lipped on Wednesday after South Korean authorities recognized birth defects in children of former semiconductor factory workers as work-related injuries, reopening scrutiny over the tech giant’s commitment to employee welfare.  The landmark ruling by the Korea Workers’ Compensation and Welfare Service covered three cases where children born [...]