SEOUL, June 9 (Korea Bizwire) — Four in ten South Korean companies have already implemented artificial intelligence technologies in their operations, marking a rapid acceleration of AI adoption across industries, according to a new government-backed report released on June 8. The report, commissioned by the Ministry of Trade, Industry and Energy and conducted by E-Consumer, [...]
SEOUL, June 9 (Korea Bizwire) — Corporate retirement pension funds grew nearly 13 percent from a year earlier in 2024, breaching the 400 trillion-won mark for the first time since their introduction in 2005, while their return on investment declined, data showed Monday. The total amount of corporate retirement pension funds under management came to [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s alternative trading system (ATS), NextTrade (NXT), is rapidly gaining traction as a go-to platform for off-hours stock trading, with pre-market and after-hours volumes soaring fivefold over the past two months. Despite the momentum, the company says it will prioritize stability over aggressive expansion. According to figures released by [...]
SEOUL, June 8 (Korea Bizwire) — South Korea’s compact car market, once buoyed by economic downturns, is now facing a dramatic collapse, with annual sales expected to fall below 70,000 units for the first time in over a decade. According to data released June 8 by market tracker CarIsYou Data Research Institute, mini car registrations [...]
JEJU, June 8 (Korea Bizwire) — Starbucks Korea has introduced the country’s first in-store mailbox at its Jeju Sehwa Drive-Thru location, offering customers a unique “slow mail” experience while promoting environmental sustainability. Announced on June 8, the initiative features a special mailbox donated by the Jeju Regional Post Office, designed to send postcards exactly one year after [...]
SEOUL, June 6 (Korea Bizwire) — South Korean brokerage stocks are soaring on renewed optimism over the new administration’s stock market revitalization agenda, fueling a dramatic uptick in leveraged retail investing. But analysts warn that selective, fundamentals-based investment is now essential as market differentiation is expected to intensify. According to data compiled by Yonhap Infomax, credit-based [...]
CHUNCHEON, South Korea, June 5 (Korea Bizwire) — In a bid to stabilize South Korea’s troubled dried pollock (hwangtae) industry, Gangwon Special Self-Governing Province announced on Thursday that it will launch a two-day campaign on June 9–10 to restore order to hwangtae distribution. The initiative will take place at the Jumunjin Traditional Market in Gangneung [...]
SEOUL, June 5 (Korea Bizwire) — LG Display Co., a global leader in display panel manufacturing, said Thursday it will invest 700 billion won (US$515 million) in its domestic organic light-emitting diode (OLED) production facilities. In September, LG Display sold its entire 80 percent stake in its large-size display panel and module plant in China’s [...]
SEOUL, June 5 (Korea Bizwire) — Hyundai Motor Co. said Thursday it will supply hydrogen-powered waste collection vehicles to Busan metropolitan city, under the municipality’s aim to convert its waste collection fleet system to clean energy. At an event held at Busan City Hall, Hyundai unveiled two hydrogen-powered waste collection truck models based on the [...]
SEOUL, June 5 (Korea Bizwire) — Tesla topped South Korea’s imported passenger car sales for the first time last month amid a sharp increase in electric vehicle (EV) demand, industry data showed Thursday. According to the Korea Automobile Importers & Distributors Association (KAIDA), 28,189 imported passenger cars were newly registered in May, up 16.4 percent [...]