SEOUL, Nov. 6 (Korea Bizwire) – South Korea’s major department stores are turning their attention to the “vintage” trend to attract the MZ generation, those born between the early 1980s and early 2000s, who are emerging as their primary consumer base. Recognizing that the MZ generation is sensitive to value consumption and familiar with secondhand transactions, [...]
SEOUL, Nov. 6 (Korea Bizwire) – Hyundai Motor executives recently took the unconventional step of test-driving a Tesla electric car and other luxury models from various manufacturers, garnering considerable attention in the process. This departure from the norm is indicative of Hyundai Motor Group Chairman Chung Eui-sun’s strong belief that the company should prioritize building cars [...]
SEOUL, Nov. 3 (Korea Bizwire) – Sales of imported vehicles in South Korea dropped 15.9 percent in October from a year earlier due to weakened demand for foreign electric vehicle (EV) models, industry data showed Friday. The number of newly registered imported cars last month totaled 21,329 units, compared with 25,363 units a year ago, [...]
SEOUL, Nov. 3 (Korea Bizwire) – Kakao Corp., the operator of South Korea’s top mobile messenger, said Friday it will establish an independent organization to strengthen its ethics management system amid public criticism over stock manipulation allegations involving its executives. The external body, planned for launch later this year, will be dedicated to creating and [...]
SEOUL, Nov. 3 (Korea Bizwire) – The Ministry of Oceans and Fisheries (MOF) announced on Thursday that it has established a pilot blue carbon habitat in Gangjin, South Jeolla Province, aimed at technological development to create a ‘breathing’ coast. The MOF will host a completion ceremony for the initiative on Friday. Blue carbon refers to carbon-absorbing [...]
SEOUL, Nov. 2 (Korea Bizwire) – An artificial intelligence-based congestion prediction system will go into pilot service on Seoul’s subway networks this month to monitor the risks of overcrowding, the interior ministry said Thursday. On a project that commenced in June, the ministry’s Integrated Data Analysis Center has developed the AI-based prediction model based on [...]
SEOUL, Nov. 2 (Korea Bizwire) – The Seoul Metropolitan Government announced on Wednesday the development of innovative technology for efficiently blending carbon dioxide and ozone, essential components for improving the quality of tap water, during the production process of Arisu, Seoul’s tap water brand. Carbon dioxide plays a crucial role in enhancing water purification efficiency by [...]
BUSAN, Nov. 2 (Korea Bizwire) – New technology that uses coal ash from power plants to construct structures in the ocean is set to be actively promoted in South Korea. Currently, some of the waste materials from burning coal to produce electricity are stored or buried because they are hard to recycle. One of these structures, [...]
SEOUL, Nov. 1 (Korea Bizwire) — Seoul Metro, the operator of Seoul subway lines No. 1-8, plans to pilot seatless subway cars next year to alleviate overcrowding during the morning and evening rush hour, officials said Wednesday. Under the pilot project set to commence in January, seats inside two cars of each subway train running [...]
SEOUL, Nov. 1 (Korea Bizwire) — LG Electronics Co. said Wednesday that it will provide its in-vehicle infotainment system for two models of Hyundai Motor Co.’s luxury brand Genesis. The 2024 Genesis G80 and the new GV80 Coupe will be equipped with LG’s webOS for Automotive platform, streaming a variety of content, including YouTube, from [...]