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Archive by category Most Viewed

Break Down of South Korea’s Ambitious Initiatives to Lead in Cutting-Edge Technologies

SEOUL, April 25 (Korea Bizwire) – South Korea’s government has finalized its blueprint to establish global leadership in three pivotal areas it deems “game changers” for the future: artificial intelligence semiconductors, advanced biotechnology and quantum technology. The Presidential Advisory Council on Science & Technology, the nation’s top decision-making body for science and technology issues chaired by [...]

South Korea to Pursue Global Dominance in AI Chip, Advanced Bio, and Quantum Technologies, States Government

SEOUL, April 25 (Korea Bizwire) — South Korea will launch an initiative to become one of three leading nations in the so-called game-changer industries that include artificial intelligence (AI) chip, advanced biology and quantum technologies by 2030, the science ministry said Thursday. The Presidential Advisory Council on Science & Technology held a meeting and decided [...]

Young Koreans Less Supportive of Pension Overhaul to Increase Payouts, Survey Finds

SEOUL, Apr. 25 (Korea Bizwire) – A national survey on reforming South Korea’s pension system found that a proposal to raise contributions in exchange for higher payouts was most popular among those in their 40s and 50s, while younger Koreans were more reluctant to increase their payments, highlighting a generational divide. The results from the citizen [...]

Hyundai Motor Chief Vows to Foster India as Automaker’s Global Export Hub

SEOUL, Apr. 25 (Korea Bizwire) — The chief of Hyundai Motor Group recently visited India and laid out a vision to bolster its operations there to utilize the country as a key export hub for the South Korean automaker, the group said Thursday. Euisun Chung, Hyundai Motor Group’s executive chair, visited the group’s Indian headquarters [...]

AliExpress Significantly Increases Capital of South Korean Subsidiary

SEOUL, Apr. 25 (Korea Bizwire) – AliExpress, the Chinese e-commerce platform, has substantially boosted the capital of its South Korean subsidiary. According to the distribution industry on April 24, the AliExpress subsidiary in South Korea recently carried out a capital increase worth 33.4 billion won. This represents the largest capital injection since the establishment of the [...]

Consumer Group Files Complaints Against Alibaba’s AliExpress and Temu Over Privacy Concerns

SEOUL, Apr. 25 (Korea Bizwire) – The consumer advocacy group Citizens United for Consumer Sovereignty (CUCS) has filed complaints against the Chinese e-commerce platforms AliExpress and Temu with the Jongno Police Station in Seoul. The group alleges violations of South Korea’s Personal Information Protection Act and the Act on Promotion of Information and Communications Network Utilization [...]

Samsung Bets on Specialized Phones to Regain Foothold in China’s Smartphone Market

SEOUL, Apr. 25 (Korea Bizwire) – Samsung Electronics, the world’s leading smartphone maker, has relaunched its Galaxy C series of smartphones tailored for the Chinese market after a seven-year hiatus, in a bid to reclaim market share from domestic rivals. According to the market research firm Counterpoint Research, Samsung is estimated to have recorded a market [...]

South Korean Consumers Prioritize Value in Shopping Amid High Inflation

SEOUL, Apr. 24 (Korea Bizwire) –As high inflation persists, a majority of South Korean consumers are scouring various channels for information and prioritizing value-for-money products before making purchases, according to a survey conducted by the Korea Consumer Agency. The agency announced on April 24 the findings from an online survey conducted last month examining consumer [...]

LG Electronics Teams Up with National Rehabilitation Center to Improve Appliance Accessibility

SEOUL, April 24 (Korea Bizwire) – LG Electronics announced on April 24 that it has forged a partnership with the National Rehabilitation Center to improve the accessibility of its home appliances, ensuring that people of all ages and abilities can use the products with ease. Through a memorandum of understanding signed on the same day, LG [...]

Survey Finds Overwhelming Support for Asset Sharing Among Married Couples in South Korea

SEOUL, Apr. 24 (Korea Bizwire) – More than 9 out of 10 users of KakaoPay, a popular mobile payment service in South Korea, believe that married couples should share at least a portion of their assets, according to a recent poll conducted by the company. KakaoPay revealed on April 23 the results of a survey conducted [...]