SEOUL, Sept. 13 (Korea Bizwire) – A recent study has revealed that 27 non-owning executives of South Korean companies with market capitalizations exceeding 2 trillion won hold stock wealth valued at over 10 billion won each, highlighting a growing trend of wealth accumulation among professional managers in the country’s booming tech sector. The Korea CXO Institute, [...]
SEOUL, Sept. 13 (Korea Bizwire) – Naver, the South Korean internet giant, is set to collaborate with Saudi Arabia’s Data and Artificial Intelligence Authority (SDAIA) to develop a large language model (LLM) based on Arabic, marking a significant step in the company’s Middle Eastern expansion strategy. On September 10, during the three-day Global AI Summit conference [...]
SEOUL, Sept. 12 (Korea Bizwire) – A new enforcement decree will go into effect next week, permitting firms to collect personal information necessary for service provision without users’ consent, officials said Thursday. The Personal Information Protection Commission said a new enforcement decree on personal data protection will take effect starting Sunday. Currently, online businesses are [...]
SEOUL, Sept. 12 (Korea Bizwire) –In a surprising turn of events, the popular K-pop girl group NewJeans has issued an ultimatum to their management company HYBE and its chairman Bang Si-hyuk, demanding the reinstatement of former CEO Min Hee-jin by September 25. This bold move has led industry insiders to speculate about the possibility of [...]
SEOUL, Sept. 12 (Korea Bizwire) –Lotte Asahi Liquor, a prominent player in South Korea’s beverage industry, announced on September 12 that it will officially launch its premium beer Asahi Shokusai in the Korean market on September 24. This move comes after a limited release earlier this spring that garnered significant attention from beer enthusiasts. [...]
SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics’ ambitious push into advanced chip manufacturing in the United States has encountered a significant setback, with the company recalling a majority of its Korean employees from its Taylor, Texas foundry project. This move signals a pause in the semiconductor giant’s drive to challenge Taiwan’s TSMC in the cutting-edge [...]
SEOUL, Sept. 12 (Korea Bizwire) – Bentley, the British luxury automaker, has launched the fourth generation of its flagship sedan, the Flying Spur, in South Korea, choosing the country for the model’s global premiere. On September 11, Bentley Motors Korea held a media launch event at the Bentley Tower in Dongdaemun-gu, Seoul, to introduce the latest [...]
SEOUL, Sept. 12 (Korea Bizwire) – In a bid to boost employee morale and bridge generational gaps, several South Korean companies are turning to an unlikely source: e-sports tournaments. These in-house gaming competitions are becoming increasingly popular as a means to promote teamwork and create a more relaxed corporate culture. Hyundai Wia, a leading automotive parts [...]
DAEJEON, Sept. 12 (Korea Bizwire) – The Korea Institute of Energy Research (KIER) has announced a breakthrough in urban electrification technology, leveraging artificial intelligence to stabilize renewable energy grids in cities. The development, announced on September 11, marks a significant step towards sustainable urban environments and carbon neutrality. Urban electrification, the process of transitioning city energy [...]
DONGHAE, Sept. 12 (Korea Bizwire) – The coastal city of Donghae in Gangwon Province has launched a series of smart bus shelters equipped with Internet of Things (IoT) technology, marking a significant upgrade to its public transportation infrastructure. City officials announced on September 11 that the new shelters, which go beyond traditional waiting areas, are designed [...]