SEOUL, June 11 (Korea Bizwire) — South Korea’s antitrust watchdog said Wednesday it has fined Temu for misleading South Korean consumers through deceptive promotional campaigns, marking the first regulatory sanction imposed on the Chinese e-commerce platform by the agency. The Fair Trade Commission (FTC) said it has imposed a fine of 357 million won (US$260,000) [...]
SEOUL, June 11 (Korea Bizwire) — In a country where convenience stores have become cultural fixtures — offering everything from late-night ramen to phone charging stations — BGF Retail, the operator of CU, is taking things one step further: temporary tattoos. On Wednesday, BGF Retail unveiled what it’s calling the industry’s first “tattoo kiosk,” [...]
Seoul, June 10 (Korea Bizwire) — Korean Air, Genesis, and Samsung’s Galaxy smartphones topped the list of premium brands most favored by South Korea’s top corporate leaders, according to a new survey released Tuesday by the business journal Hyundai Management. The annual Best Premium Brands survey, based on responses from 100 CEOs at Korea’s 500 largest [...]
SEOUL, June 10 (Korea Bizwire) — As momentum builds for the launch of won-backed stablecoins in South Korea, the Bank of Korea (BOK) is mounting a vocal defense of the traditional monetary system, warning that poorly designed frameworks could undermine financial stability and weaken the won’s position as legal tender. The central bank will host [...]
SEOUL, June 10 (Korea Bizwire) -- HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Tuesday it has secured a 2.4 trillion-won (US$1.76 billion) order to build eight container ships for an Asian shipping company by 2028. The 15,900 twenty-foot equivalent unit (TEU) container carriers will be constructed at the shipyard of HD Hyundai [...]
SEOUL, June 10 (Korea Bizwire) — Musinsa Co., a South Korean fashion platform, said Tuesday it plans to open offline stores in China and Japan in the coming months as part of its global expansion strategy. The company currently offers around 8,000 South Korean fashion brands on its online platform and operates several offline stores [...]
SEOUL, June 10 (Korea Bizwire) — South Korean consumers ranked the dawn delivery market as the most consumer-friendly, while wedding services received the lowest score in a nationwide survey released Tuesday by the Korea Consumer Agency. The findings are part of the agency’s “2024 Consumer Market Evaluation Index,” which assesses how consumer-oriented various markets are [...]
SEOUL, June 10 (Korea Bizwire) — Kia Corp. announced Tuesday that it has begun mass production of its next-generation standard medium-duty military vehicles, marking the first full-scale model renewal in 48 years. The automaker held a rollout ceremony at its Autoland Gwangju plant, attended by over 100 officials, including senior representatives from the Ministry of National [...]
SEOUL, June 10 (Korea Bizwire) — South Korean companies turned to banks at a significantly higher rate in the first quarter of 2025, with demand for operating funds driving a sharp rise in corporate borrowing, according to new data released Tuesday by the Bank of Korea (BOK). The total outstanding loans to local companies reached 1,979.5 [...]
SEOUL, June 10 (Korea Bizwire) — POSCO Future M Co., the battery materials unit of POSCO Holdings Inc., said Tuesday it has completed a key production facility as part of efforts to establish a fully integrated domestic supply chain for battery materials. The precursor plant, built within the existing cathode materials complex in Gwangyang, about [...]