SEOUL, May 14 (Korea Bizwire) — South Korea’s pharmaceutical and biotech companies view the Trump administration’s push to lower U.S. prescription drug prices as a potential tailwind for domestic drugmakers, particularly those in the biosimilar space. Former President Donald Trump, who is expected to run again in the 2026 election, issued an executive order last week [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s eco-friendly market has surged to a valuation of 34 trillion won (approximately $24.7 billion), but consumer participation in sustainable practices is on the decline, a new survey by the Korea Consumer Agency reveals. The nationwide study, which polled 3,200 adults, found that although 66.4% of respondents are currently [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s department store sector suffered a difficult first quarter as sluggish domestic consumption weighed heavily on sales and profits, with only Lotte Department Store managing to post a notable profit boost, thanks to strong performance in overseas operations and internal restructuring efforts. According to industry data released Tuesday, Lotte [...]
SEOUL, May 13, 2025 — As South Korea’s spring university festival season gets underway, growing tension is emerging on campuses over the disruptive presence of so-called “home masters” — obsessive fan photographers who descend on student events with professional-grade cameras to capture images of celebrity performers. “Home master,” abbreviated from “homepage master,” refers to fans [...]
GANGNEUNG, South Korea, May 13 (Korea Bizwire) — The family of a 12-year-old boy who died in a suspected sudden unintended acceleration (SUA) incident in late 2022 has lost a civil lawsuit against the vehicle manufacturer, underscoring the legal challenges consumers face in proving vehicle defects under South Korea’s current product liability law. The accident occurred in [...]
SEOUL, May 13 (Korea Bizwire) — POSCO Group announced on Tuesday a capital injection exceeding ₩900 billion (approximately $670 million) into its key secondary battery subsidiaries, aiming to weather a temporary slump in electric vehicle (EV) demand and reinforce its position in the battery materials sector ahead of a projected market rebound. The move comes as [...]
SEOUL, May 13 (Korea Bizwire) — Unregulated electronic cigarette vending machines selling synthetic nicotine products are proliferating near schools in South Korea, sparking public concern over youth access and health risks, amid mounting calls for legislative reform. A recent investigation revealed unmanned vape shops operating near elementary, middle, and high schools in central Seoul, often [...]
SEOUL, May 13 (Korea Bizwire) — Humanoid robots are emerging as a key industry of the future in the face of accelerating global aging, but overcoming critical challenges in power efficiency and control systems will be essential for mass adoption, a recent report by KDB Future Strategy Research Institute said. Citing a February 2025 forecast by [...]
SEOUL, May 13 (Korea Bizwire) — In a groundbreaking development for regenerative medicine, South Korean researchers have safely administered the country’s first 3D cartilage cell therapy derived from stem cells to osteoarthritis patients, signaling a potential shift in how the degenerative joint disease may be treated in the future. The Catholic University of Korea’s Seoul St. [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s retail and consumer goods sectors are increasingly turning to character-based intellectual property (IP) marketing to boost engagement and drive sales, tapping into what experts are calling an era of “emotion-driven consumption.” As consumers seek comfort and nostalgia amid prolonged economic uncertainty, brands are capitalizing on familiar or whimsical [...]