SEOUL, Sept. 23 (Korea Bizwire) — The industry ministry said Monday a container carrier equipped with a homegrown autonomous system departed from the southeastern port city of Busan to test key technologies, including intelligent navigation and cybersecurity. The 1,800 twenty-foot equivalent unit container carrier plans to run such tests over a one-year period on routes [...]
SEOUL, Sept. 23 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Monday it has signed a partnership with the American Bureau of Shipping to jointly develop advanced offshore technologies. Under the agreement, signed during Gastech 2024, an international energy exhibition, in Houston, Texas, last week, the collaboration between Hanwha Ocean and ABS [...]
SEOUL, Sept. 23 (Korea Bizwire) – In a groundbreaking decision, Nexon Korea has agreed to compensate 800,000 players of its popular game MapleStory with 21.9 billion won worth of Nexon Cash, the company’s virtual currency that can be converted to real money. This compensation comes in response to allegations that the company manipulated probabilities for in-game [...]
SEOUL, Sept. 20 (Korea Bizwire) – In a bid to strengthen consumer connections and maximize brand experiences, South Korea’s advertising industry is increasingly turning to experiential marketing strategies. This approach, which goes beyond simply promoting products or services, allows consumers to actively participate and engage with brands, effectively building stronger emotional bonds. One recent example of [...]
SEOUL, Sept. 20 (Korea Bizwire) – In a breakthrough that could revolutionize the treatment of neurological disorders, South Korean researchers have developed technology that tailors electronic stimulation to individual brain patterns, potentially offering new hope for patients with drug-resistant conditions. The Institute for Basic Science (IBS) announced on September 19 that a team led by researchers [...]
SEOUL, Sept. 19 (Korea Bizwire) – The rapid growth of coworking spaces in Seoul, which surged during the COVID-19 pandemic, is now showing signs of deceleration. This shift is attributed to a decline in demand from the startup sector and the recent bankruptcy of WeWork, the pioneer of the coworking model. According to a report released [...]
SEOUL, Sept. 19 (Korea Bizwire) – In a significant shift in South Korea’s automotive landscape, imports of Chinese electric vehicles have surpassed the 1 trillion won mark this year, according to data from the Ministry of Trade, Industry and Energy and the Korea International Trade Association. From January to July, South Korea’s battery electric vehicle (BEV) [...]
SEOUL, Sept. 19 (Korea Bizwire) — The peak electricity demand jumped 30 percent on-year during the Chuseok holiday, data showed Thursday, in the latest evidence that autumn heat has gripped the nation. The country’s average maximum power demand reached 70.3 gigawatts from Monday to Wednesday, compared with 54.4 gigawatts recorded during the previous year’s Chuseok, [...]
SEOUL, Sept. 19 (Korea Bizwire) — Container shipping costs from South Korea to the U.S. east coast and Europe increased for the fourth consecutive month in August amid prolonged geopolitical risks in the Red Sea, data showed Thursday. The average shipping cost for a 40-foot container from South Korea to the U.S. east coast rose [...]
SEOUL, Sept. 19 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-biggest refiner by sales, said Thursday it has exported sustainable aviation fuel (SAF) to a Japanese trading company. Last week, GS Caltex supplied 5,000 kiloliters of SAF to Itochu Corp., which has delivered the environment-friendly fuel to Narita International Airport, the company said in [...]