SEOUL, Aug. 19 (Korea Bizwire) – As South Korean department stores struggle with sluggish consumer spending due to high inflation, sports merchandise sections have become an unexpected source of growth. According to reports from the country’s three major department store chains on August 18, sales in their sports categories increased by approximately 10% in the first [...]
SEOUL, Aug. 15 (Korea Bizwire) – As concerns mount following an electric vehicle fire in an underground parking garage in Incheon, South Korean automakers and importers are taking steps to increase transparency about the batteries powering their vehicles. In response to government recommendations, several companies have begun publicly disclosing details about their battery suppliers. Volkswagen Group [...]
SEOSAN, Aug. 15 (Korea Bizwire) – In the wake of recent electric vehicle (EV) fires, local governments across South Korea’s South Chungcheong Province are rushing to implement safety measures, marking a shift from their previous focus on promoting EV adoption through subsidies. The city of Seosan is at the forefront of these efforts. City officials said [...]
SEOUL, Aug. 14 (Korea Bizwire) – Kakao Pay, a leading digital payment service in South Korea, announced on Wednesday that it has ceased sharing user information with Alipay since mid-May, following a controversial breach involving the unauthorized disclosure of personal credit data. In a statement, Kakao Pay revealed that the suspension of information sharing began on [...]
SEOUL, Aug. 14 (Korea Bizwire) — Mercedes-Benz Korea Ltd. is faced with criticism from industry watchers and consumers over its belated disclosure of battery suppliers for the company’s electric vehicles amid an EV safety scare. Concerns surrounding EV safety flared up in the country after a spontaneous fire that started in a parked Mercedes-Benz EV on Aug. [...]
SEOUL, Aug. 14 (Korea Bizwire) – South Korean battery manufacturers are experiencing a collective boost in stock prices as automakers, led by Hyundai Motor Company, begin to disclose their electric vehicle (EV) battery suppliers. This trend reflects growing investor confidence that South Korean firms, with their superior technology compared to Chinese competitors, could increase market share [...]
SEOUL, Aug. 13 (Korea Bizwire) – A recent electric vehicle fire in an underground parking garage has ignited fears among the public and drawn criticism of the government’s disjointed response to the incident. The fire, which occurred on August 1 in the Cheongna district of Incheon, has intensified what some are calling “electric vehicle phobia.” Critics [...]
SEOUL, Aug. 13 (Korea Bizwire) – In a strategic shift to combat the migration of shoppers to online platforms, South Korean department stores are engaged in a fierce competition to introduce exclusive international cafes and dessert shops to the local market. Social media platforms are abuzz with posts from eager patrons flocking to newly opened establishments [...]
SEOUL, Aug. 12 (Korea Bizwire) – A recent study has shed light on the growing social isolation faced by individuals living alone in Seoul, South Korea’s bustling capital. More than half of Seoul’s single-person households report having no one to turn to for help with daily tasks or during emergencies, raising concerns about the need for [...]
INCHEON, Aug. 12 (Korea Bizwire) – The adoption of electric vehicles (EVs) in Incheon, South Korea’s third-largest city, has been declining for two consecutive years after peaking in 2022, according to recent data from the city government. From January to July of this year, only 2,607 new EVs were registered in Incheon, a mere 37% of [...]