SEOUL, Sept. 19 (Korea Bizwire) – Taihan Cable & Solution Co., South Korea’s second-biggest cable company, said Thursday it has received a 90 billion-won (US$68 million) high-voltage cable order in the United States. Taihan Cable has obtained the deal from LS Power Grid California to supply 320 kilovolt and 500kV high-voltage direct current transmission systems [...]
SEOUL, Sept. 19 (Korea Bizwire) — Prosecutors questioned the CEOs of e-commerce affiliates TMON and WeMakePrice on Thursday as part of an investigation over massive payment delays to vendors on their platforms. TMON CEO Ryu Kwang-jin and WeMakePrice CEO Ryu Hwa-hyun appeared at the Seoul Central District Prosecutors Office for questioning on suspicions of embezzlement, [...]
SEOUL, Sept. 19 (Korea Bizwire) – In a sign of growing financial strain on South Korea’s middle and lower-income households, credit card loans, often a last resort for quick cash, have reached unprecedented levels this year. According to data released on September 18 by the Credit Finance Association, the outstanding balance of card loans, including debt [...]
SEOUL, Sept. 19 (Korea Bizwire) – In a move to elevate customer satisfaction, Hyundai Department Store announced on September 18 the implementation of an artificial intelligence (AI) system called Insight Labs to assist its employees in customer interactions. Developed in-house, Insight Labs is designed to analyze customer complaints and feedback related to department store experiences, offering [...]
SEOUL, Sept. 18 (Korea Bizwire) – As South Korea prepares for the launch of Wegovy, a highly anticipated weight loss medication, next month, questions are arising about its coverage under private health insurance plans. Wegovy, produced by Danish pharmaceutical company Novo Nordisk and famously touted by Tesla CEO Elon Musk as his weight management secret, is [...]
SEOUL, Sept. 18 (Korea Bizwire) – As the global electric vehicle (EV) market navigates through a temporary dip in demand, South Korean automakers and financial institutions are introducing innovative products to spark consumer interest. These offerings, centered around guaranteeing the residual value of EV batteries, are reshaping the future of EV ownership. At the heart of [...]
SEOUL, Sept. 18 (Korea Bizwire) — Excess funds held by South Korean households has fallen for eight quarters in a row amid high inflation and interest rates, data showed Wednesday. The monthly surplus of a local household came to 1.01 million won (US$753.3) per month on average in the second quarter, down 1.7 percent from [...]
SEOUL, Sept. 18 (Korea Bizwire) – Starbucks Korea announced on September 16 that it will introduce a new Starbucks Morning Set program, offering discounted set menus of beverages and food items until 10:30 a.m. each day. The initiative aims to cater to customers seeking a convenient breakfast option, reflecting the coffee giant’s strategic move to capture [...]
SEJONG, Sept. 18 (Korea Bizwire) – The growing popularity of highballs in South Korea’s alcoholic beverage market has led to an increase in liquor tax revenue, reflecting changing consumer tastes in the country’s drinking culture. According to data obtained from the National Tax Service by Park Sung-hoon, a lawmaker from the People Power Party, overall liquor [...]
JEJU, Sept. 18 (Korea Bizwire) – In a sign of agriculture’s digital future, cows on a dairy farm on Jeju Island are being milked and cared for by robots around the clock. Dawon Farm, located in Jeju City’s Jocheon-eup district, has embraced automation with the introduction of eight digital robotic milking machines. These tireless devices operate [...]