SEOUL, June 30 (Korea Bizwire) — LG Electronics Inc., South Korea’s leading home appliance maker, said Monday it has acquired a Norwegian hot water storage company to strengthen its foothold in the European air and water heating markets. The company said it acquired a 100 percent stake in OSO Group AS, a firm known for [...]
SEOUL, June 30 (Korea Bizwire) — Elderly drivers were responsible for over one in five traffic accidents in South Korea last year, a record high that has reignited debate over delayed safety reforms ahead of the first anniversary of a deadly wrong-way driving incident in central Seoul. According to new data from the Korea Road Traffic [...]
SEOUL, June 30 (Korea Bizwire) — The number of in-home care facilities serving elderly South Koreans has nearly quadrupled over the past five years, reflecting a growing preference among seniors to receive medical and support services at home rather than in institutional settings. According to data released Saturday by the Ministry of Health and Welfare, [...]
DAEJEON, June 27 (Korea Bizwire) — KAIST researchers have developed a new catalytic method to convert waste tires into high-purity cyclic alkenes—valuable chemical precursors for rubber and nylon—offering a promising solution to one of the most persistent recycling challenges. Announced on Thursday, the breakthrough comes from a team led by Professor Hong Soon-hyuk, which successfully [...]
SEOUL, June 26 (Korea Bizwire) — The government convened a consultative meeting with the private sector Thursday to discuss the development of quantum technology amid an intensifying global race to secure a future game changer across economic and security domains, the finance ministry said. The consultative body, led by the Ministry of Economy and Finance, [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s financial investment in the United States surged to an all-time high in 2024, as domestic investors increasingly turned to U.S. stocks and production facilities amid a shifting global economic landscape, data from the Bank of Korea showed Thursday. According to the central bank’s provisional international investment balance sheet, [...]
SEOUL, June 25 (Korea Bizwire) – Once the dominant force in South Korea’s imported vehicle market, diesel-powered passenger cars are facing a steep decline as consumers increasingly turn to cleaner alternatives. According to data released Tuesday by the Korea Automobile Importers & Distributors Association (KAIDA), only 1,469 imported diesel passenger vehicles were sold in South [...]
SEOUL, June 24 (Korea Bizwire) — Samsung Electronics has officially introduced the Exynos 2500, its most advanced smartphone processor to date, signaling a major leap in chip design and manufacturing ahead of next month’s Galaxy Unpacked event in New York. Detailed on Samsung’s official website, the Exynos 2500 is the first smartphone application processor (AP) to [...]
SEOUL, June 24 (Korea Bizwire) — While global consumers continue to favor monochromatic car colors, South Korean buyers are increasingly opting for vibrant, expressive hues, according to a new report by global coatings manufacturer Axalta. The report, released on June 22, shows that in 2024, 24% of cars sold in South Korea featured chromatic (non-neutral) [...]
SEOUL, June 24 (Korea Bizwire) — As South Korea grapples with a persistently low birthrate under President Lee Jae-myung’s administration, a new report highlights how the demographic shift is reshaping the nation’s small business ecosystem, prompting price hikes and deepening inequality among local service providers. According to a study released Monday by Hana Financial Group’s [...]