SEOUL, Nov. 24 (Korea Bizwire) — Finance Minister Choo Kyung-ho has vowed to continue efforts to boost foreign investors’ access to the South Korean market and create favorable conditions for corporate investment, his office said Friday. Choo made the remarks during a market opening ceremony at the London Stock Exchange on Thursday (local time), as [...]
JEONJU, Nov. 24 (Korea Bizwire) – Mushrooms, usually associated with dining, are now being transformed into a type of leather used to make clothing and accessories. On Thursday, the Rural Development Administration (RDA) announced the development of technology for creating leather using mushrooms and revealed plans to commercialize this innovative process. Mycelium, the root structure of [...]
SEOUL, Nov. 23 (Korea Bizwire) – Thanks to record-breaking earnings, Hyundai Motor and Kia Corp. have surpassed Samsung Electronics in charitable donations so far this year, marking a historic first. According to CEO Score, which monitors corporate management activities, a total of 264 out of the country’s top 500 firms by sales collectively donated 1.4 trillion [...]
SEOUL, Nov. 22 (Korea Bizwire) – A recent test of clothes dryers available in the South Korean market revealed that some small models have subpar drying functions. The drying time for clothes varied by up to one hour, and the disparity in annual power rates reached up to 25,000 won. On Tuesday, the Korea Consumer Agency [...]
SEOUL, Nov. 21 (Korea Bizwire) – Esports star ‘Faker’ (Lee Sang-hyeok), who clinched victory last weekend in the League of Legends (LoL) World Championship, commonly referred to as the ‘LoLdcup,’ revealed the secret behind his triumph, stating, “I can learn a lot when I make it a goal to focus on the process regardless of the [...]
SEOUL, Nov. 21 (Korea Bizwire) – While Costco, the U.S. warehouse discount store, achieved a milestone in South Korea with annual sales exceeding 6 trillion won for the first time, its social contributions in the country have dwindled. Moreover, the company remitted a dividend to its U.S. headquarters that surpassed its annual operating profit. Costco Korea’s [...]
SEOUL, Nov. 17 (Korea Bizwire) — Hyundai Motor Co. and its affiliate Kia Corp. said Friday they have unveiled their latest electric vehicle (EV) units and concept models under way at the 2023 Los Angeles Auto Show as the companies strengthen their electric portfolios. Hyundai debuted the Ioniq 5 N, the first high-performance EV model [...]
SEOUL, Nov. 16 (Korea Bizwire) – Controversy has escalated following a recent court ruling that deemed the act of crafting wallets by repurposing luxury bags, a practice commonly known as ‘reform’ in Korean, as a violation of trademark rights. In response to the court’s decision demanding compensation of 15 million won from the owner of a [...]
SEOUL, Nov. 16 (Korea Bizwire) – POSCO International is venturing into Ukraine’s postwar reconstruction, commencing with the establishment of a modular plant. The announcement came on Wednesday when CEO Jeong Tak signed a Memorandum of Understanding (MOU) with Governor Vitalii Kim of the Mykolaiv region for the construction of a modular building production facility. Modular construction [...]
SEOUL, Nov. 14 (Korea Bizwire) — Samsung Electronics Co. on Tuesday showcased its latest updates to software and services, including its new generative artificial intelligence (AI) model, Samsung Gauss, at an annual tech conference. At the Samsung Developer Conference (SDC) Korea 2023 in Seoul, the South Korean tech giant introduced Samsung Gauss and its three [...]