SEOUL, May 8 (Korea Bizwire) – Starbucks Korea announced on May 7 that the cumulative number of customers using personal reusable cups at its domestic stores reached the 150 million milestone last month. The use of reusable cups saw a sharp rise, skyrocketing from 9.39 million instances in 2018 to 29.35 million last year. In the [...]
SEOUL, May 7 (Korea Bizwire) – With the major food delivery apps in South Korea waging a “free delivery” war to lure customers, some franchise owners and restaurants have sparked controversies by charging higher prices for delivery orders compared to dine-in meals, citing the burden of the apps’ commission fees. On May 5, industry officials said [...]
SEOUL, May 7 (Korea Bizwire) – The electric vehicle fervor that once gripped global markets seems to be waning, and South Korea’s battery industry is feeling the pinch. In the aftermath of a sharp decline in demand for electric vehicles since mid-2023, major players in South Korea’s battery sector find themselves navigating compensation negotiations with international [...]
SEOUL, May 7 (Korea Bizwire) – The relentless surge of Chinese e-commerce platforms like AliExpress, Temu, and Shein into the South Korean market, posing threats to domestic platforms, small businesses, and small manufacturers, appears to be losing momentum due to consumer dissatisfaction with shipping and returns, as well as repeated discoveries of hazardous substances including carcinogens [...]
SEOUL, May 7 (Korea Bizwire) — Officials from South Korean shipbuilder HD Hyundai Heavy Industries Co. have filed a criminal complaint against Hanwha Ocean Co. for alleged misrepresentation of facts and defamation in connection with the leak of military secrets, police said Tuesday. They lodged the complaint with the police Friday, alleging that Hanwha Ocean [...]
SEOUL, May 7 (Korea Bizwire) — The vice chief of South Korea’s financial regulator highlighted the country’s strong economic conditions Tuesday, saying the economy is entering a recovery phase while its financial market remains very stable. Kim So-young, vice chair of the Financial Services Commission (FSC), made the remark in a video conference with representatives [...]
SEOUL, May 7 (Korea Bizwire) — The Cabinet on Tuesday approved a revision to the rule on the designation of large business groups and their chiefs for a watch list subject to stricter filing and other antitrust regulations, the regulator said. Under current law, conglomerates with total assets exceeding 5 trillion won (US$3.68 billion) are [...]
SEOUL, May 7 (Korea Bizwire) — North Korea’s external economic relations minister has expressed intent for his country’s cooperation with Iranian automaker Saipa during a recent rare trip to Tehran. Yun Jong-ho made the remark as he visited a booth run by Iran’s second-largest automaker at a trade show in Tehran during his 10-day stay [...]
WASHINGTON, May 6 (Korea Bizwire) — South Korea has raised its automotive industry’s concerns with the United States over Washington’s inquiry and envisioned rules to address potential security risks from “connected vehicles” that use technology from China and other countries of concern. On April 30, the South Korean government submitted its comments to the U.S. [...]
SEOUL, May 7 (Korea Bizwire) – Samsung Electronics, SK Telecom and Naver have emerged as the top artificial intelligence companies in South Korea, according to a survey of people from the MZ generation (those born between 1980 and the early 2000s) by the job platform Jobplanet. The survey of 947 MZ generation respondents revealed Samsung Electronics, [...]