SEOUL, Oct. 24 (Korea Bizwire) — The antitrust regulator said Thursday it has decided to fine Papa John’s Korea 1.48 billion won (US$1.07 million) for unfair business practices against franchise shops. The pizza restaurant chain had allegedly designated 15 kinds of cleaning products, including hand soaps, as must-buy items from the headquarters and forced franchise [...]
SEOUL, Oct. 24 (Korea Bizwire) – What kinds of wine do shoppers who spend more than 100 million won annually at department stores prefer? According to data released on October 23 by Galleria Department Store, Burgundy wines and champagne dominate their luxury wine purchases. An analysis of sales from The Vino 494, the upscale wine boutique [...]
SEOUL, Oct. 23 (Korea Bizwire) – A recent survey has revealed that 60% of South Korean adults support stabilizing the national pension system to ensure future generations can receive benefits at least equal to their contributions. The poll also showed that young people, particularly those in their 20s and 30s, harbor deep skepticism about the sustainability [...]
DAEJEON, Oct. 23 (Korea Bizwire) – In a significant move to boost electric vehicle safety, South Korea’s Public Procurement Service (PPS) announced on October 22 comprehensive measures to improve fire safety management and emergency response capabilities for public EV charging facilities. The new guidelines require all future public buildings to have EV charging stations installed at [...]
SEOUL, Oct. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Wednesday it will raise electricity rates for industrial use while freezing those for households starting this week amid global energy price volatility and escalating financial strains. Under the decision, the electricity rate for industrial use will rise 9.7 percent on average [...]
SEOUL, Oct. 23 (Korea Bizwire) — The Seoul city government on Wednesday announced a plan to bury 94 percent of the capital’s above-ground railway sections underground to create an extensive green space on the reclaimed land. Currently, Seoul has 71.6 kilometers of above-ground railway sections in six lines that run through 15 of the city’s [...]
SEOUL, Oct. 22 (Korea Bizwire) – In a parliamentary audit on October 21, Ham Yoon-sik, vice president of Woowa Brothers, defended his company’s controversial fee increases by pointing to similar moves by competitor Coupang Eats, highlighting growing tensions in South Korea’s competitive food delivery market. During the National Assembly’s political affairs committee audit of the Fair [...]
SEOUL, Oct. 22 (Korea Bizwire) — Samsung Biologics Co. said Tuesday it has signed a deal worth US$1.24 billion for contract manufacturing from an Asia-based biopharmaceutical firm. The deal will last until the end of 2037, the company said in a regulatory filing. Other details remained undisclosed under a confidentiality agreement. Samsung Biologics said the [...]
SEOUL, Oct. 22 (Korea Bizwire) – LG Electronics is ramping up its efforts in the electric vehicle (EV) charging market by introducing advanced safety features to its slow chargers, aiming to alleviate customer concerns and accelerate its domestic EV charging business. The company announced on October 21 that it will implement a dual safety system to [...]
SEOUL, Oct. 21 (Korea Bizwire) — The health ministry said Monday it plans to co-host an annual biotechnology convention next month with the World Health Organization, bringing experts together to discuss strategies for a stable global health care supply chain. Under the theme “Future investment for a healthy and secure decade,” the World Bio Summit [...]