SEOUL, Feb. 27 (Korea Bizwire) — The Seoul Metropolitan Government is set to debut South Korea’s first artificial intelligence (AI)-powered robotic electric vehicle (EV) charging system, ‘Seoul Boy,’ on February 27. The innovative system, developed in collaboration with EV charging specialist Moderntec, will be located at the public parking lot of Sinbanghwa Station on Subway Line [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korean pharmaceutical and biotech companies are rapidly expanding their presence in the Middle Eastern market, capitalizing on the region’s growing healthcare demands and high-income population. Daewoong Pharmaceutical recently launched its botulinum toxin product, Nabota, in Saudi Arabia, a market known for its stringent entry barriers for such products. The company [...]
SEOUL, Feb. 27 (Korea Bizwire) — As South Korea’s prolonged economic downturn continues, small business owners are increasingly burdened by rising labor costs. A recent analysis shows that small independent business operators employ an average of 1.8 workers per establishment, highlighting the strain on entrepreneurs trying to sustain their workforce. According to data from the [...]
SEOUL, Feb. 26 (Korea Bizwire) — Emergency roadside assistance for electric vehicles (EVs) varies significantly by season, with winter dominated by towing requests and summer seeing a surge in tire puncture repairs, according to a recent study. The Traffic and Climate Research Center at Hyundai Marine & Fire Insurance analyzed two years of data from [...]
SEOUL, Feb. 25 (Korea Bizwire) — Samsung is intensifying its global talent acquisition efforts, launching a recruitment drive aimed at experienced foreign professionals to bolster its research and development (R&D) competitiveness. Beginning this week, ten Samsung affiliates—including Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Biologics, Samsung Bioepis, Samsung C&T, Samsung Engineering [...]
SEJONG, Feb. 25 (Korea Bizwire) — South Korea’s construction industry is facing its worst downturn in years, with employment falling below 2 million workers for the first time since the Covid-19 pandemic, highlighting growing concerns about the broader economic impact of the sector’s prolonged slump. According to the Statistics Korea, construction employment plunged by 169,000 jobs [...]
SEOUL, Feb. 25 (Korea Bizwire) — Small business owners in South Korea saw their income drop more than 10 percent from a year earlier in 2024 amid sluggish consumer sentiment, a poll showed Tuesday. According to the survey conducted by Mono Research from January 20 to February 7 on 500 small business owners, the level [...]
SEOUL, Feb. 24 (Korea Bizwire) — Volvo Construction Equipment Korea (Volvo CE Korea) has announced the launch of its next-generation articulated dump trucks, the A35 and A45, tailored specifically for challenging terrains in the domestic market. The new A35 and A45 models, weighing 35 tons and 42 tons respectively, feature advanced electronic control systems and transmissions [...]
SEOUL, Feb. 24 (Korea Bizwire) — With persistent high inflation straining consumer budgets, “off-price” retail (OPR) stores in South Korea are experiencing rapid growth, enticing customers with premium brand clothing at discounts of up to 90%. Originally emerging in early 20th-century America, off-price retail involves purchasing surplus or past-season items directly from brand owners and [...]
SEOUL, Feb. 23 (Korea Bizwire) — In a strategic move to increase profitability and attract new customers, South Korea’s travel agencies are rapidly expanding their offerings of premium package tours. These upgraded travel experiences remove common frustrations found in budget packages, such as mandatory shopping trips, optional tour fees, and guide tipping, instead emphasizing quality and [...]