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Archive by category Most Viewed

AI Seoul Summit Adopts Joint Ministerial Statement on Safe, Innovative, Inclusive AI

SEOUL, May 22 (Korea Bizwire) — Ministerial level representatives of 28 countries and international organizations on Wednesday adopted a joint statement calling for the advancement of the safety, innovation and inclusivity of artificial intelligence (AI) technology in a global AI summit, Seoul’s science ministry said. The Seoul Ministerial Statement includes South Korea’s vision on AI and semiconductor technologies aimed at developing low-power [...]

As Chicken Prices Soar, Home Cooking Emerges as a Tasty Alternative

SEOUL, May 23 (Korea Bizwire) – South Koreans are feeling the pinch with major chicken franchises raising prices, bringing the era of the 30,000-won chicken bucket closer to reality – a scenario foreshadowed by BBQ Group’s chairman Yoon Hong-geun back in 2022. With dining costs already soaring, more consumers are exploring cost-effective ways to satisfy their [...]

South Korean Government Boosts Heat Wave Protections for Outdoor Workers

SEOUL, May 23 (Korea Bizwire) – As South Korea braces for the sweltering summer months, the government has stepped up efforts to prevent heat-related illnesses among outdoor workers, fortifying weather forecasts and increasing inspections at vulnerable workplaces. According to the Ministry of Employment and Labor and the Korea Meteorological Administration, the weather agency will provide customized [...]

Surging Coffee Bean Prices Put Strain on South Korean Coffee Shops

SEOUL, May 22 (Korea Bizwire) – Surging prices for coffee beans on international markets are putting a strain on South Korean coffee shop operators, raising concerns that the higher costs could lead to increases for consumers. The price of robusta coffee beans has more than tripled since 2020 to $3.97 per kilogram last month, according to [...]

Minivan Dethrones Sedans to Top Corporate Vehicle Registrations in South Korea

SEOUL, May 22 (Korea Bizwire) – The Kia Carnival minivan, once renowned as the quintessential family vehicle for road trips and camping, took the top spot for corporate vehicle registrations in South Korea during the first quarter of 2024. This marks the first time the Carnival has claimed the number one position on a quarterly basis. [...]

Samsung Unveils Galaxy Book4 Edge with Advanced AI Capabilities

SEOUL, May 20 (Korea Bizwire) –Samsung Electronics unveiled the Galaxy Book4 Edge on May 21, offering more powerful artificial intelligence (AI) capabilities. The Galaxy Book4 Edge is equipped with Samsung’s Hybrid AI, supporting both on-device AI and cloud AI. Notably, through collaboration with Microsoft, it becomes the first Co-Pilot+ PC in the Galaxy Book series, [...]

Zero-Calorie Drinks Capture Over Half of Convenience Store Soda Sales in South Korea

SEOUL, May 20 (Korea Bizwire) –As health-conscious consumers grow in numbers, zero-calorie drinks have surpassed 50 percent of carbonated beverage sales at convenience stores in South Korea. GS25, a major convenience store chain, announced on May 21 that from January to April of this year, zero-calorie drinks accounted for 52.3 percent of its total carbonated [...]

Vanishing Bees Spell Trouble for Cities Worldwide

SEOUL, May 21 (Korea Bizwire) – In the heart of Seoul, a rooftop garden has become an oasis for a thriving colony of bees, their gentle buzzing filling the air as they flit from flower to flower. But elsewhere in the city, and in urban centers around the globe, a worrying phenomenon is unfolding: honeybees are [...]

Record High Credit Card Loan Balances in South Korea as Economic Woes Persist

SEOUL, May 21 (Korea Bizwire) – As the South Korean public continues to grapple with high interest rates and soaring consumer prices, credit card loan balances reached an all-time high last month, reflecting the mounting financial strain on ordinary citizens. According to data released on May 20 by the Credit Finance Association, the combined credit card [...]

Korean Delivery Apps Engage in Cutthroat Competition for Customers

SEOUL, May 20 (Korea Bizwire) – The competition among South Korea’s major food delivery apps — Baedal Minjok, Coupang Eats and Yogiyo — to poach customers from one another is intensifying into a bruising battle. The clash among the three services erupted last year over discounts on delivery fees. After a brief lull, their rivalry reignited [...]