SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s pharmaceutical and biotech firms are racing to close out the year under mounting pressure, with looming U.S. tariffs and sluggish drug development emerging as key challenges after the Chuseok holiday. Industry sources said Monday that the most immediate concern is the “U.S. tariff risk” following President Donald [...]
SEOUL, Oct. 7 (Korea Bizwire) — As South Korea’s population rapidly ages, LG Electronics is ramping up its efforts to capture the growing senior consumer market through customized products and accessible services, from simplified televisions to tailored AI home training programs. The company announced Wednesday that it will host AI Home usage workshops for seniors [...]
SEOUL, Oct. 7 (Korea Bizwire) — In movie theaters across North America, audiences recently sang in unison — in Korean. The occasion was a sing-along screening of K-Pop Demon Hunters, the Netflix animated hit whose theme song “Golden” has become an anthem for fans of K-culture. For many, the moment marked how far the Korean [...]
SEOUL, Oct. 7 (Korea Bizwire) — Naver has rolled out artificial intelligence–powered summaries to its location search service, extending the use of its AI briefing tool beyond news and finance into daily life navigation. According to the tech giant on Tuesday, the new “Place AI Briefing” provides concise overviews of businesses and venues, compiling key details [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s non-life insurers are escalating a fierce competition to secure “exclusive usage rights,” which grant temporary monopolies over newly developed insurance products, as the industry pushes for innovation amid slowing growth in traditional sectors such as auto coverage. According to the General Insurance Association of Korea, domestic insurers [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s middle-aged population — once considered the backbone of the nation — is increasingly dying alone, as government attention and welfare programs remain focused on the young and elderly. According to data from the National Data Office and the National Assembly Research Service, 74.8 percent of the 21,897 [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korea’s petrochemical sector, battered by an oversupply wave from China and the Middle East, remains deadlocked over restructuring plans despite government pressure and mounting financial strain. More than a month after companies agreed to draw up detailed restructuring blueprints by year’s end, no tangible progress has been made. [...]
SEOUL, Oct. 7 (Korea Bizwire) — As Japan confronts the strains of a rapidly aging population with robots and digital care technologies, a new report is urging South Korea to follow suit and invest in “Age-tech” — a burgeoning industry combining artificial intelligence, robotics, and ICT to support the elderly. According to a study released [...]
SEOUL, Oct. 6 (Korea Bizwire) — Drinking and depression are on the rise among Seoul residents, with women also showing an increase in smoking over the past four years, according to a new report highlighting widening gender differences in public health. The Seoul Foundation of Women and Family said in its latest study, “Health Status of [...]
SEOUL, Oct. 6 (Korea Bizwire) — Once the exclusive domain of department stores, the competition to court South Korea’s most coveted “VVIP” customers — very, very important patrons with deep pockets and high loyalty — is heating up in the online retail world. E-commerce companies, traditionally focused on price-sensitive shoppers, are now introducing tiered membership [...]