SEOUL, Oct. 31 (Korea Bizwire) – After nine rounds of negotiations spanning 100 days, delivery apps and restaurant owners remain deadlocked over commission rates, with positions still far apart at 9.8% versus 5%. The ninth meeting of the Delivery App Coexistence Council, held on October 30, stretched to nearly seven hours including breaks but failed to [...]
SEOUL, Oct. 31 (Korea Bizwire) – In a coordinated seasonal effort, South Korea’s leading department stores are preparing to transform their spaces into festive wonderlands, with all major retailers set to reveal their Christmas decorations on December 1. Lotte Department Store announced on October 30 that it will progressively roll out its “Wonderful Showtime” themed decorations [...]
SEOUL, Oct. 31 (Korea Bizwire) – New car registrations in South Korea have fallen to their lowest level in 11 years during the first three quarters of 2024, according to data released by the Korea Automobile Mobility & Industry Association (KAMA) on October 30. Total new vehicle registrations for January through September reached 1,209,154 units, marking [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korean authorities have discovered multiple prohibited pharmaceutical ingredients in imported brain health supplements that claim to boost memory and concentration, according to a report released on October 30. The Korea Consumer Agency and the Ministry of Food and Drug Safety jointly examined 19 foreign-made brain health supplements sold on [...]
SEOUL, Oct. 31 (Korea Bizwire) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, said Thursday it has received a liquefied natural gas (LNG) ship order for 358 billion won (US$259 million). Samsung Heavy will build the LNG carrier for an unidentified shipper in Asia by June 2027, the company said in a [...]
SEOUL, Oct. 31 (Korea Bizwire) — The oceans ministry said Thursday it will work to establish the Korean name “gim” as a globally recognized term for seaweed products as part of efforts to boost their exports. “South Korea has been facing hurdles in promoting its gim products, as they have been referred to by various [...]
SEOUL, Oct. 31 (Korea Bizwire) — Hyundai Motor Co. on Thursday unveiled the concept of its upcoming passenger hydrogen fuel cell electric vehicle (FCEV) named Initium that comes with an extended driving range and ample hydrogen fuel storage capacity. Initium is a concept by Hyundai that reflects the product and design direction of a passenger [...]
SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s antitrust regulator has disclosed details of how Coupang, the country’s leading e-commerce platform, analyzed vendors’ product data to develop competing private-label merchandise, according to documents released on October 29. The Korea Fair Trade Commission (KFTC) revealed in its ruling that Coupang systematically studied suppliers’ production processes and sales [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s dental implant exports have reached a historic milestone, surpassing $650 million this year, according to data released by the Korea Customs Service on October 30. Export figures for the January-September period reached $653 million, marking a 17.4% increase compared to the same period last year and setting a [...]
DAEJEON, Oct. 31 (Korea Bizwire) – The Korea Institute of Machinery and Materials (KIMM) announced on October 30 that it has developed an innovative laser cutting technology capable of safely dismantling nuclear reactors underwater. The development comes at a crucial time as South Korea faces an increasing need for reactor dismantling technology, with multiple nuclear power [...]