SEOUL, August 4 (Korea Bizwire) — The global market for artificial intelligence (AI) data centers is expected to expand at a rapid clip, growing at an average annual rate of 28.3% over the next five years and reaching $60.5 billion by 2030, according to a new report from South Korea’s Software Policy & Research Institute. [...]
SEOUL, August 4 (Korea Bizwire) — LG Electronics’ modular home concept, the “LG Smart Cottage,” is capturing growing attention among South Koreans embracing emerging lifestyle trends such as workations and the “5-to-2” urban-rural split living model. According to LG, all 200 slots for its recent open house tour in Gimje, North Jeolla Province, were fully [...]
SEOUL, August 4 (Korea Bizwire) — South Korea’s recent breakthrough trade agreement with the United States—touted as a major diplomatic win—may offer temporary relief on tariffs but leaves the door open for further pressure from Washington on sensitive trade issues, experts warn. The deal, struck on July 30, outlines a sweeping $450 billion investment and [...]
SEOUL, August 4 (Korea Bizwire) — In a major step following recent U.S.-South Korea trade negotiations, Korea Trade Insurance Corporation (K-SURE) has issued its first investment guarantee under a $200 billion bilateral fund aimed at boosting Korean business ventures in the United States. K-SURE announced Sunday that it will provide a $1 billion financial guarantee [...]
SEOUL, August 3 (Korea Bizwire) — LG Group is ramping up its investments in the biotech sector, acquiring a stake in U.S.-based cancer therapy developer Strand Therapeutics as part of a broader push into future-growth industries. Strand Therapeutics, headquartered in Cambridge, Massachusetts, is a messenger RNA (mRNA) therapeutics company founded in 2017 by bioengineering graduates [...]
MASGA initiative aims to deepen Korea-U.S. shipbuilding cooperation under Lee-Trump trade framework SEOUL, August 3 (Korea Bizwire) — South Korea’s leading shipbuilders have formed a joint task force to coordinate participation in the newly announced Korea-U.S. shipbuilding partnership, known as the MASGA (Maritime and Shipbuilding Growth Arrangement) initiative—a $150 billion sector-specific fund unveiled as part [...]
SEOUL, August 3 (Korea Bizwire) — South Korea’s demand-responsive transport (DRT) system has made its European debut in Hungary, marking a milestone in the country’s push to export advanced mobility solutions. The Ministry of Economy and Finance announced Sunday that a pilot project for the Korean-style DRT system officially launched on July 31 in Gödöllő, [...]
After a decade at Spurs, South Korean icon closes chapter with tribute-filled match as move to MLS looms SEOUL, August 3 (Korea Bizwire) — Son Heung-min, the face of South Korean football and a trailblazer in Europe’s elite leagues, bid an emotional farewell to Tottenham Hotspur in a sold-out exhibition match in Seoul on Saturday [...]
SEOUL, August 2 (Korea Bizwire) — South Korea’s emergency consumer coupon program, launched to revitalize local economies, achieved a 90% disbursement rate within just 11 days of rollout, but has since come under scrutiny over illegal cash conversions and human rights concerns related to the card’s design. The “Livelihood Recovery Consumer Coupons,” issued in prepaid [...]
SEOUL, August 2 (Korea Bizwire) — As South Korea’s foster care rate lags behind international standards, foster parents are sounding the alarm over growing financial burdens and administrative hurdles that discourage families from taking in vulnerable children. According to the Ministry of Health and Welfare, only 44.7% of children in protective care were placed in [...]