SEOUL, Nov. 21 (Korea Bizwire) – Seoul’s bustling Myeong-dong district has emerged as the ninth most expensive retail location globally, according to a new report by Cushman & Wakefield Korea. The real estate services firm analyzed retail rental prices in 138 major cities, revealing that Myeong-dong’s annual average rent per square meter reached ₩10.32 million, a [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korean regulators have blocked nearly 2,000 product listings from Chinese e-commerce platforms AliExpress and Temu since May, citing safety violations that threaten consumer well-being. This move underscores the growing challenges posed by cross-border e-commerce amid its meteoric rise in the country. A Surge in Unsafe Products From May to [...]
SEOUL, Nov. 20 (Korea Bizwire) – Outstanding credit card loans have risen sharply to reach an all-time high as of end-October amid tight lending regulations by banks and weak domestic demand, data showed Wednesday. Outstanding loans extended by nine major credit card firms amounted to 42.22 trillion won (US$30.25 billion) as of end-October, the largest [...]
SEOUL, Nov. 19 (Korea Bizwire) – As obesity rates surge across all age groups in South Korea, lawmakers have introduced groundbreaking legislation to address what they increasingly see as a national health emergency. Representative Park Hee-seung of the Democratic Party, a member of the National Assembly’s Health and Welfare Committee, announced today the introduction of the [...]
SEOUL, Nov. 19 (Korea Bizwire) – South Korean cosmetics companies are rolling out smaller-sized products to capture the growing market of Generation Z and Alpha consumers, who are increasingly seeking affordable ways to experiment with beauty products. Daiso, a popular discount retailer, reported a dramatic surge in cosmetics sales for January through October this year, with [...]
SEOUL, Nov. 19 (Korea Bizwire) – In a novel approach to corporate social responsibility, a South Korean advertising agency is breathing new life into a community bathhouse, transforming it into what is being called “the world’s safest bathhouse” for elderly residents. Innocean, a marketing communications company led by CEO Lee Yongwoo, is undertaking a complete renovation [...]
SEOUL, Nov. 18 (Korea Bizwire) – In a breakthrough that could significantly reduce food waste, South Korean agricultural researchers have developed and patented a novel technology using magnetic resonance imaging (MRI) to predict the quality of stored onions. The Rural Development Administration (RDA) announced on November 18 that the new technology addresses a persistent problem in [...]
SEOUL, Nov. 18 (Korea Bizwire) – A quadrupedal robot developed by the Korea Advanced Institute of Science and Technology (KAIST) has become the first of its kind to complete a full marathon, marking a significant milestone in robotics technology. The robot, named Raibo2, finished the 2024 Sangju Persimmon Marathon’s full course (42.195 km) in 4 hours, [...]
SEOUL, Nov. 18 (Korea Bizwire) – An individual referred to only as Lee, who began his career as a delivery worker three years ago, says the pressure to meet tight deadlines has become nearly unbearable. “We need to complete at least four deliveries per hour to make ends meet,” said Lee, who acknowledged that running red [...]
SEOUL, Nov. 17 (Korea Bizwire) – LG Electronics announced November 17 the launch of its 2024 LG PuriCare Object Collection Hydro Tower, a premium water purifying humidifier featuring significant upgrades based on consumer feedback. The new model doubles the water tank capacity of its predecessor, addressing a key user demand identified through the company’s consumer behavior [...]