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Fleece the Hottest Winter Apparel Trend Among Young Koreans

Fleece the Hottest Winter Apparel Trend Among Young Koreans

SEOUL, Sept. 20 (Korea Bizwire) — Fleece jackets, once popular primarily among middle-aged men, are emerging as the hottest fashion items this winter. Clothing companies preparing winter goods have not hesitated to pick fleece as their main product for this year as consumers have tired of the bench coat craze. Fleece is a thermoelectric fabric [...]

New Robotics Technology Expected to Save Carmakers Time and Money

New Robotics Technology Expected to Save Carmakers Time and Money

GWANGJU, Sept. 19 (Korea Bizwire) — South Korean researchers have developed a robotic arm that can automatically finish molding processes, which are usually completed manually. A research team from the Gwangju Institute of Science and Technology (GIST) said Wednesday that it has succeeded in increasing the joint rigidity of robots with a special design. In [...]

Under Heir Apparent Leadership, Hyundai on Road to Become Future Mobility Solutions Provider

Under Heir Apparent Leadership, Hyundai on Road to Become Future Mobility Solutions Provider

SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s Hyundai Motor Group, a staunch auto manufacturer here, is now undergoing seismic changes on a move to morph into a future mobility solutions provider under its heir apparent’s leadership, by focusing on future vehicles, such as autonomous and connected cars. Executive Vice Chairman Chung Eui-sun, 50, has [...]

Experts Anticipate Boom in Pet Insurance Market Following Stricter Animal Registration Policies

Experts Anticipate Boom in Pet Insurance Market Following Stricter Animal Registration Policies

SEOUL, Sept. 18 (Korea Bizwire) — Following an announcement from the government that animal registration policy will be subject to stricter implementation, experts are anticipating an increase in demand for pet insurance. The Ministry of Agriculture, Food and Rural Affairs announced on Tuesday that it will come up with stricter animal-related regulations to ensure implementation [...]

Demand Soars for Premium Convenience Store Ice Cream

Demand Soars for Premium Convenience Store Ice Cream

SEOUL, Sept. 18 (Korea Bizwire) — The recent trend of value consumption, which stresses the importance of emotional satisfaction, is widely spreading and penetrating the convenience store ice cream market. According to convenience store chain 7-Eleven, the portion of high-end products in its overall sales of ice cream stood at 23.6 percent this year. The [...]

LG Display to Streamline LCD Biz amid Snowballing Losses

LG Display to Streamline LCD Biz amid Snowballing Losses

SEOUL, Sept. 17 (Korea Bizwire) — LG Display Co. said Tuesday it will begin a voluntary retirement program as part of cost-cutting efforts amid mounting losses from its liquid crystal display (LCD) business. The display making unit of LG Electronics Inc. said it will accept early retirement from manufacturing employees who have worked over five [...]

Brain Drain a Concern in S. Korea as Global Competition for EV Batteries Heats Up

Brain Drain a Concern in S. Korea as Global Competition for EV Batteries Heats Up

SEOUL, Sept. 17 (Korea Bizwire) — Global competition for electric vehicle (EV) batteries has countries and companies battling to attract top talent. In particular, concerns over technology leaks are growing as battery manufacturers in China, Europe and other countries have been attempting to woo Korean workers. Companies are offering high salaries targeting skilled Korean talent. [...]

S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

S. Koreans’ Overseas Direct Purchases Up 20 pct in First Half

SEJONG, Sept. 17 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose 20 percent in the first six months of 2019 from a year earlier as more consumers opted to buy quality goods at cheap prices, customs data showed Tuesday. South Korean shoppers bought a total of US$1.58 billion worth of foreign goods [...]