SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s used-car exports surged sharply this year, helping offset a slowdown in new vehicle shipments and preventing an overall decline in the country’s automotive exports, according to government and industry data released Sunday. From January through November, used-car exports reached $8.4 billion, up 82.6 percent from a year earlier, [...]
SEOUL, Dec. 22 (Korea Bizwire) — Recurring mislabeling of down insulation in winter jackets has once again stirred controversy in South Korea, prompting consumer groups to demand stronger oversight and tougher penalties for deceptive practices in the fashion industry. The latest dispute centers on outdoor apparel giant The North Face, operated by Youngone Outdoor, which disclosed [...]
SEOUL, Dec. 22 (Korea Bizwire) — A large majority of South Koreans believe food delivery platforms should be the first targets of government regulation, reflecting growing public frustration over rising delivery fees and platform commissions, according to a new nationwide survey. More than 87 percent of respondents said they agree that delivery apps require stronger oversight, [...]
SEOUL, Dec. 22 (Korea Bizwire) — CJ CheilJedang is stepping up efforts to introduce Korean traditional spirits to global consumers, beginning with a promotional event in New York aimed at pairing Korean liquor with contemporary Korean cuisine. The company said it recently hosted a tasting and pairing event, titled The Korean Table – Sip & Pair [...]
SEOUL, Dec. 19 (Korea Bizwire) — South Korea’s major food delivery platforms continue to place a heavy financial burden on small merchants, with commissions and related fees consuming as much as 29 percent of sales revenue, according to a new assessment released by the Seoul Metropolitan Government on Thursday. The city unveiled its first “Delivery [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s ruling Democratic Party said Thursday it would push for a joint parliamentary hearing involving multiple standing committees to investigate a massive data breach at e-commerce giant Coupang, stepping up pressure after the company’s founder repeatedly failed to appear before lawmakers. Kim Hyun-jung, a spokesperson for the Democratic Party’s [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s financial regulator on Thursday raised its consumer alert level to “warning” after confirming secondary damages—including voice phishing and smishing—linked to last month’s massive personal data leak at e-commerce giant Coupang. The Financial Supervisory Service (FSS) said the escalation follows a rise in reported fraud attempts exploiting public anxiety [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hanwha Systems Co., a defense solutions unit of South Korea’s Hanwha Group, said Thursday it has signed a contract with Boeing Co. to supply advanced cockpit displays for F-15K and F-15EX fighter jets. Under the agreement, Hanwha Systems will provide the Eagle Large Area Display (ELAD) for Boeing’s fighter [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hyundai Motor Group said Thursday it will significantly expand its plug-and-charge (PnC) electric vehicle (EV) charging network starting next year to provide a more convenient and secure charging experience for customers. PnC is an international standard technology that allows drivers to start charging simply by connecting the charging cable [...]
SEOUL, Dec. 18 (Korea Bizwire) — The government said Thursday it will form an interagency task force to handle the recent large-scale data breach at e-commerce giant Coupang Corp. The decision was made at a meeting of science and technology–related ministers chaired by Science Minister Bae Kyung-hoon, the government said. Led by Ryu Je-myung, second [...]