SEOUL, July 3 (Korea Bizwire) – South Korean financial regulators have imposed a record fine of 27.1 billion won on two subsidiaries of a global investment bank for illegal short-selling practices involving transactions worth approximately 100 billion won. The Financial Services Commission’s Securities and Futures Commission announced on July 3 that it had voted to levy [...]
SEOUL, July 3 (Korea Bizwire) – Samsung Electronics has announced a breakthrough in wearable technology with the introduction of the industry’s first 3-nanometer processor designed for smartwatches. The new chip is expected to power the upcoming Galaxy Watch 7, marking a significant leap in performance and efficiency for wearable devices. On July 3, Samsung revealed the [...]
SEOUL, Jul. 3 (Korea Bizwire) – The South Korean government has developed an artificial intelligence (AI) model to determine appropriate treatment periods for workers injured on the job, marking a significant shift in the management of industrial accident claims. The Ministry of the Interior and Safety, in collaboration with the Korea Workers’ Compensation and Welfare Service, [...]
SEOUL, Jul. 3 (Korea Bizwire) — Italian luxury vehicle manufacturer Maserati has launched a sales unit in South Korea, the company said Wednesday, while announcing a plan to release new models in the country each month until the end of the year. Maserati Korea held a ceremony in Seoul to celebrate its launch, expressing its [...]
SEOUL, Jul. 2 (Korea Bizwire) – The Seoul Metropolitan Government announced on July 1 that it will introduce reusable containers at Samsung Medical Center’s funeral hall starting this month. This marks the first instance of a large-scale funeral facility in a top-tier general hospital participating in Seoul’s reusable container policy. Last year, the city government unveiled [...]
GWANGJU, Jul. 1 (Korea Bizwire) – The city of Gwangju has implemented a smart crosswalk system that automatically extends crossing times for elderly or mobility-impaired pedestrians who may need extra time to cross the street safely. According to city officials on July 1, the “Intelligent Transportation System (ITS) Smart Crosswalk” developed in collaboration with the Gwangju [...]
SEOUL, July 1 (Korea Bizwire) –Renault Korea Motors Co., the South Korean arm of Renault S.A., reported a notable 23.4% increase in its June sales, driven by a significant rise in exports. The company announced on Monday that it sold 9,002 vehicles last month, a considerable jump from the 7,297 units sold in the same [...]
SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jul. 1 (Korea Bizwire) — South Korea will launch a new ministry of population strategy to address low birth rates and a rapidly aging population, which have emerged as some of the starkest challenges facing the country, officials said Monday. The government unveiled the plan following high-level meetings with the ruling party, saying that [...]
SEOUL, June 30 (Korea Bizwire) –LG Electronics announced on June 30 that it will launch its 2024 lineup of wireless OLED TVs featuring improved wireless transmission technology in both domestic and international markets. The new models boast significant improvements over their predecessors. The maximum refresh rate for 4K resolution has been increased from 120Hz [...]