SEOUL, Dec. 13 (Korea Bizwire) – South Korea’s overseas direct investment fell for the third consecutive quarter in the July-September period amid uncertainties in the global economy and geopolitical risks, the finance ministry said Friday. Investments made by South Korean companies overseas totaled US$14.19 billion in the third quarter, down 6 percent from $15.1 billion [...]
SEOUL, Dec. 13 (Korea Bizwire) – With South Korea’s bottled water industry facing growing competition, Coca-Cola Beverage is making its bid for the premium segment with a new product launch, adding another player to an increasingly crowded market where longtime leader Jeju Samdasoo has seen its market share slip below 40%. Coca-Cola announced on December 12 [...]
SEOUL, Dec. 13 (Korea Bizwire) — The transport ministry said Friday it will conduct a flight demonstration of a commercial-level air taxi model this week as part of a government project to introduce the urban air mobility (UAM) industry in the country. The ministry will demonstrate the operation of the S-4 model built by U.S. [...]
SEOUL, Dec. 13 (Korea Bizwire) — Unionized workers of the state-run Industrial Bank of Korea (IBK) have voted to stage a general strike later this month over failed wage negotiations with the management, union officials said Friday. More than 80 percent of the unionized workers at the policy lender voted Thursday to stage a general [...]
SEOUL, Dec. 13 (Korea Bizwire) — Trade Minister Cheong In-kyo visited Japan on Friday to meet his Japanese counterpart and discuss ways to expand bilateral economic cooperation amid global business uncertainties, Seoul’s trade ministry said Friday. Cheong held the meeting with Vice Minister for International Affairs Takehiko Matsuo in Tokyo to share opinions on achieving [...]
SEOUL, Dec. 13 (Korea Bizwire) – Coupang announced on December 12 the launch of a “Safety Mark” system to help customers identify official communications from the company and prevent phishing scams. The Safety Mark will appear on text messages sent from Coupang’s official customer service number (1577-7011) and includes the company’s logo, a shield symbol [...]
SEOUL, Dec. 13 (Korea Bizwire) – South Korean investors are increasingly turning to gold as a safe-haven asset, driven by a combination of domestic political turbulence and international geopolitical tensions. The trend comes as gold prices show signs of rebounding after a brief November dip, bolstered by news of renewed Chinese gold purchases following October’s record [...]
SEOUL, Dec. 13 (Korea Bizwire) – South Korea’s construction workforce is aging rapidly, with the average age of construction professionals exceeding 51, up from 38.1 in 2004, according to a report released on Thursday by the Korea Research Institute for Construction Industry (KRCI). The increase of 13 years over two decades highlights a significant demographic shift [...]
SEOUL, Dec. 12 (Korea Bizwire) –In a seismic shift in South Korea’s corporate desirability rankings, SK Hynix has claimed the top spot as the most coveted workplace for 2024, according to a report released by leading recruitment platform Catch. The semiconductor giant leaped from 4th place last year, overtaking long-time favorite Samsung Electronics, which fell [...]
SEOUL, Dec. 12 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Thursday it has entered Canada’s dermal filler market as part of its business diversification strategy. LG Chem has launched its hyaluronic acid fillers under the YVOIRE brand in the Canadian market to meet a growing demand for Korean medical aesthetic [...]