SEOUL, Sept. 3 (Korea Bizwire) — South Korea’s consumer prices slowed to the lowest level in nearly 3 1/2 years in August on easing prices of farm produce and global oil, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 2 percent on-year last month, compared with a 2.6 percent on-year rise a [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s exports of food products over the first eight months of 2024 increased 8.7 percent from a year earlier on the back of robust shipments of instant noodles and processed rice products, data showed Tuesday. Outbound shipments of processed and fresh foodstuffs reached US$6.47 billion over the January-August [...]
SEJONG, Sept. 3 (Korea Bizwire) — South Korea’s economy is showing signs of a downturn, with domestic demand struggling to gain momentum. Analysts attribute this trend to the reduction in household discretionary income, a consequence of high interest rates and inflation. According to data from the Korean Statistical Information Service (KOSIS) released on September 2, the [...]
SEOUL, Sept. 2 (Korea Bizwire) –In a bold move that could redefine urban living, Samsung C&T’s construction division announced on Monday its plans to introduce a range of cutting-edge technologies in its upcoming apartment complex, Raemian Songdo Station Centripole, set to launch in Incheon’s Yeonsu district this October. The project, fully managed by Samsung C&T [...]
SEOUL, Sept. 2 (Korea Bizwire) – In a move that blends environmental consciousness with consumer engagement, Kakao, the South Korean internet giant, announced on September 2 a collaborative effort with Nespresso to breathe new life into used coffee capsules. The initiative, dubbed the Coffee Capsule Upcycling Encore Project, is set to run through Kakao Makers, [...]
SEOUL, Sept. 2 (Korea Bizwire) – Household loans extended by the country’s five major banks rose by the most on record last month despite warnings from the financial regulators and a series of rate hikes, industry sources said Monday. According to the sources, KB Kookmin, Woori and three others extended a combined 9.62 trillion won [...]
SEOUL, Sep. 2 (Korea Bizwire) — In a country where high-rise apartment living is the norm, South Korean developers are pushing the boundaries of residential amenities, transforming communal spaces into hubs of wellness, culture, and community engagement. Hyundai Engineering, one of South Korea’s leading construction firms, announced on September 1 that it will debut a suite [...]
SEOUL, Sept. 2 (Korea Bizwire) — Hyundai Motor Group said Monday it will showcase its latest technologies related to smart city infrastructure at the 2024 World Smart City Expo Korea (WSCE) to be held this week. The South Korean automotive giant will feature various technologies related to smart city infrastructure themed on transport, logistics and [...]
SEOUL, Sept. 2 (Korea Bizwire) — The head of the U.S. Securities and Exchange Commission (SEC) met with the deputy chief of South Korea’s financial regulator Monday for talks on various issues, including regulations on virtual assets, officials said. SEC Commissioner Mark Uyeda and Kim So-young, vice chair of the Financial Services Commission (FSC), met [...]
SEOUL, Sept. 2 (Korea Bizwire) — The over 26,000 food radioactivity tests conducted in Seoul since the first release of treated radioactive water from the crippled Fukushima nuclear power plant one year ago have all met safety standards, city officials said Monday. The city government conducted 26,772 radioactivity tests on food items during the year [...]