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Walking Delivery Service by Elderly Gains Popularity

Walking Delivery Service by Elderly Gains Popularity

  SEOUL, May 27 (Korea Bizwire) – A ‘walking delivery service’ in which elderly individuals buy products themselves and then deliver them to their destination via metro trains and buses has recently been gaining popularity. The ‘walking delivery service’, which began in 2006 in Songpa-gu, Seoul, tallied over 10,000 deliveries last year – a whopping 25 [...]

Korean Government to Push Establishment of Micro-Mobility Industry

Korean Government to Push Establishment of Micro-Mobility Industry

SEOUL, Jun. 15 (Korea Bizwire) — The Korean government will spend 5 billion won (US$ 4.48 million) on Korean SMEs to develop  three-wheeled mini EVs until 2016, according to an announcement on June 14. The Ministry of Trade, Industry and Energy (MOTIE) already initiated a 7 billion won (US$ 6.28 million) project last year to develop [...]

Eco Laundry Detergent Receives US$ 60,000 in Funding through Kickstarter and Indiegogo

Eco Laundry Detergent Receives US$ 60,000 in Funding through Kickstarter and Indiegogo

SEOUL, May 14 (Korea Bizwire) — A laundry detergent that cleans clothes with micro bubbles and a small amount of surfactant has attracted US$ 60,000 in funding through two international crowdfunding sites, Kickstarter and Indiegogo. JnK Science, the company behind the new type of detergent called SMACLE, said that it took in US$ 47,560 through [...]

Regulator Set to Allow Banks to Fund Fintech Firms

Regulator Set to Allow Banks to Fund Fintech Firms

SEOUL, May 6 (Korea Bizwire) — South Korea’s top financial regulator said Wednesday that it will pave the way for local banks to invest in financial technology firms as part of its efforts to boost the integration of the two industries. According to current financial laws, financial institutions are allowed to buy stakes in or [...]

Technology Financing by Banks Skyrockets 70-fold in 7 Months

Technology Financing by Banks Skyrockets 70-fold in 7 Months

SEOUL, Mar. 11 (Korea Bizwire) — Loans extended by South Korean banks to companies using their high-level technologies as collateral have soared 70-fold in the past seven months on a strong drive by the government, industry data showed Wednesday, spawning concerns that a huge chunk of such loans could turn sour, thus undermining lenders’ financial [...]

Samsung to Develop 400 Smart Factories in Korea by 2017

Samsung to Develop 400 Smart Factories in Korea by 2017

Seoul, Mar. 2 (Korea Bizwire) — Samsung Group will develop about 400 ‘smart factories’ in Gyeongsangbuk-do in collaboration with the Gyeongbuk Creative Economy Center, by 2017. The partners will jointly develop fully automated assembly factories based on MES (Manufacturing Execution System) and IoT (Internet Of Things) technologies. These factories will be also equipped with tailored [...]