SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jul. 1 (Korea Bizwire) — South Korea will launch a new ministry of population strategy to address low birth rates and a rapidly aging population, which have emerged as some of the starkest challenges facing the country, officials said Monday. The government unveiled the plan following high-level meetings with the ruling party, saying that [...]
SEOUL, June 30 (Korea Bizwire) –LG Electronics announced on June 30 that it will launch its 2024 lineup of wireless OLED TVs featuring improved wireless transmission technology in both domestic and international markets. The new models boast significant improvements over their predecessors. The maximum refresh rate for 4K resolution has been increased from 120Hz [...]
SEOUL, Jun. 29 (Korea Bizwire) – In a battle for dominance in the burgeoning cross-border e-commerce market, international platforms are intensifying their efforts to capture a slice of South Korea’s booming overseas sales sector, particularly in the realm of K-beauty products. Shopee, Southeast Asia’s largest e-commerce platform, announced plans to expand support for Korean products seeking [...]
SEOUL, June 29 (Korea Bizwire) – Busan, South Korea’s second-largest city, appears to have entered a phase of extinction due to low birthrates and superaging population, becoming the nation’s first metropolitan city to do so, said a research paper published on Friday. The paper from the Korea Employment Information Service estimated Busan’s ratio of the [...]
SEOUL, June 29 (Korea Bizwire) – South Korea’s industry ministry said Friday it will add 243 more items that can potentially be used for military purposes to the list of products regulated for export to Russia and Belarus. The decision raised the number of such items to 1,402, as South Korea has been tightening its [...]
SEJONG, Jun. 28 (Korea Bizwire) – A recent analysis by Statistics Korea’s Statistics Research Institute reveals that approximately four out of five young adults in South Korea are unmarried, with the rate of singlehood among those in their early to mid-30s tripling over the past two decades. The report, titled “How Has the Face of South [...]
BUSAN, Jun. 26 (Korea Bizwire) –Hyundai Motor Company has lifted the veil on its Casper Electric vehicle at the Busan Mobility Show, presenting what it calls a new standard for electrification and reaffirming its commitment to a hydrogen-based ecosystem. The South Korean automaker announced on June 27 that it would participate in the show, running [...]
SEOUL, Jun. 26 (Korea Bizwire) –In a significant step towards a hydrogen-powered future, SK E&S announced on June 27 the completion of South Korea’s first liquid hydrogen refueling station in Gyeonggi Province. The facility, the Icheon Daeheung Liquid Hydrogen Refueling Station, was inaugurated in Daewol-myeon, Icheon. The station is operated by SK Plug Hyverse (Hyverse), [...]
SEOUL, June 27 (Korea Bizwire) – A multipurpose Korea Center has officially opened in New York, marking a significant expansion as a gateway to Korean culture, the culture ministry announced Thursday. “It will serve as a multiplex cultural hub for audiences that provides a window into Korean art, music, film, history, language, literature, and cuisine,” [...]