SEOUL, July 28 (Korea Bizwire) – 2023 will mark a major turning point for Samsung Electronics’ smartphone business, its mobile chief said Friday, with a goal to push up the portion of foldable phones to more than 20 percent of Galaxy flagship sales worldwide. “This year will serve as a tipping point for Samsung to [...]
SEOUL, July 27 (Korea Bizwire) — Samsung SDI Co. said Thursday its second-quarter operating income rose 4.9 percent from a year earlier, buoyed by solid demand in its premium electric vehicle (EV) batteries. Operating profit reached 450.2 billion won (US$354.7 million) in the April-June period, compared with 429 billion won the previous year, the company [...]
SEOUL, July 26 (Korea Bizwire) — An interagency investigation team was launched Wednesday to crack down on cryptocurrency-related crimes, officials said. The joint virtual asset crime investigation unit will start operations at the Seoul Southern District Prosecutors Office, staffed by 30 investigators from seven government agencies and bodies, including the prosecution, the Financial Supervisory Service, [...]
SEOUL, July 26 (Korea Bizwire) — A person who takes a longer time to fall asleep has a twofold higher likelihood of dying compared to someone with quicker sleep onset, a study showed Tuesday. A research team from Korea University’s College of Medicine conducted a prospective cohort study on 3,757 individuals aged between 40 and [...]
SEOUL, July 26 (Korea Bizwire) — With backlash from franchisees growing over the South Korean unit of German sports brand Adidas’s decision to unilaterally terminate franchise contracts, lawmakers have stepped in to scrutinize the issue. The office of Rep. Choi Seung-jae, a member of the ruling People Power Party and the National Assembly’s National Policy [...]
SEOUL, July 24 (Korea Bizwire) – Once regarded as a declining industry due to the gaming industry’s mobile transition and the COVID-19 pandemic, internet cafes, known as “PC bangs” in Korean, are now transforming into new cultural spaces through partnerships with the e-sports industry. E-sports team Nongshim Redforce launched an internet cafe brand called Redforce [...]
SEOUL, July 23 (Korea Bizwire) — The government plans to allow businesspeople to enter Ukraine for reconstruction projects by making exceptions to the travel ban on the war-torn country, officials said Sunday. The decision was part of measures that the government is taking after President Yoon Suk Yeol made a surprise visit to Ukraine earlier [...]
SEOUL, July 21 (Korea Bizwire) — The production and import of adult diapers is close to exceeding double the production and import of diapers for children due to the low birthrate and rapidly aging society, data showed Thursday. Last year’s supply of adult diapers, combining domestic production and imports, reached 107,129 tons, which was 1.8 [...]
SEOUL, July 21 (Korea Bizwire) — Kia Corp., South Korea’s second-biggest carmaker, announced that it has launched the 13th base of the Green Light Project in Albania last Wednesday (local time) as part of its corporate social responsibility activities. The company plans to offer medical support, in collaboration with the humanitarian aid group World Vision, [...]
SEOUL, July 21 (Korea Bizwire) — Hyundai Transys Inc., an auto parts unit of Hyundai Motor Group, said Thursday that its low-power and lightweight technologies, along with interior space utilization technology, into Kia Corp.’s all-electric EV9 flagship SUV. These advancements were developed to enhance the power consumption efficiency of electric vehicles. One of the innovative [...]