SEOUL, March 3 (Korea Bizwire) — LG Electronics Inc. on Thursday unveiled a new concept of residential space offering a distinguished customer experience by converging space with home electronics and services. The conpect, tentatively named LG Smart Cottage, is a small modular house equipped with LG’s advanced energy and air conditioning technology and filled with [...]
SEOUL, March 2 (Korea Bizwire) — South Korea’s Navy has received a new frigate with enhanced anti-submarine capabilities, the state arms procurement agency said Thursday, amid the country’s stepped-up efforts to strengthen readiness against growing North Korean threats. The delivery event for the new 2,800-ton frigate, Pohang, took place at the Okpo shipyard of Daewoo [...]
SEOUL, March 2 (Korea Bizwire) — The state-run National Institute of Environmental Research on Wednesday revealed that 34 new types of recycling have been approved under its Recycling Availability Assessment System, paving the way for recycling 3.13 million tons of waste as resources. This system, introduced in 2016, is designed to approve new types of [...]
SEOUL, March 1 (Korea Bizwire) — The Ministry of Health and Welfare has indicated significant changes to the country’s health insurance payment standards in a bid to improve financial stability and prevent fraud. The measures were revealed during the 3rd Health Insurance Policy Deliberation Committee on Tuesday, with the vice minister stating that the aim [...]
SEOUL, March 1 (Korea Bizwire) — There are more microplastics found in disposable containers commonly used for food deliveries than in multi-use containers, a consumer watchdog said Tuesday. The Korea Consumer Agency looked into 16 kinds of disposable containers currently being used in the commercial market, discovering close to 30 microplastics. In the four kinds [...]
SEOUL, March 1 (Korea Bizwire) — With the value of losses caused by voice phishing estimated at about 1.7 trillion won (US$1.28 billion) over the past five years, South Korean banks are exploring various measures to limit future losses from similar criminal activity. Shinhan Bank introduced an alarm system in March last year that uses [...]
SEOUL, Feb. 28 (Korea Bizwire) — A group of South Korean T-50B supersonic jets streaked over a southeastern Australian city during the opening ceremony of a major international air show Tuesday, marking its first aerobatic performance in the southern hemisphere. The Korean Air Force’s Black Eagles team joined the biennial Australian International Airshow and Aerospace [...]
SEOUL, Feb. 28 (Korea Bizwire) — South Korea’s online food delivery market, which saw major growth during the pandemic, had a major reversal of fortunes last year, data showed Monday. According to data from Statistics Korea, last year’s online transactions for food delivery services stood at 26 trillion won, (US$19.6 billion) down by 1.4 percent from [...]
SEOUL, Feb. 28 (Korea Bizwire) — South Korea’s food companies are launching into the pharmaceutical and biotech industries as part of efforts to ensure sustainable business growth. Dongwon Industries Co. has signed an initial agreement with Boryung Partners last week over its possible takeover of Boryung Biopharma Co. Under the memorandum of understanding, the canned [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korea’s health ministry recently announced the 5th Basic Plan for Suicide Prevention (2023-2027) during a public hearing on Feb. 13. One of the key initiatives is the ban on the production of coal fire lighters, which are commonly used in suicide attempts, and the development of eco-friendly alternatives. [...]