MILAN, Apr. 15 (Korea Bizwire) — Samsung Electronics will participate in the EuroCucina 2024 trade show, part of Milan Design Week, which is taking place from April 16 to 21. The company plans to unveil its design philosophy and cutting-edge home appliances. Milan Design Week is a global design and furniture fair, attracting more than 2,300 [...]
MILAN, Apr. 15 (Korea Bizwire) — LG Electronics has embarked on a ‘two-track’ strategy, unveiling both ultra-premium and volume-tier products, as it aims to strengthen its position in the European built-in kitchen appliance market. The company announced on April 15 that it will participate in the Milan Design Week 2024, the world’s largest design exhibition, taking [...]
SEOUL, Apr. 16 (Korea Bizwire) — Coupang, the South Korean e-commerce giant, has significantly increased the monthly fee for its premium Wow Membership service, raising it to 7,890 won 4,990 won. This bold move has sparked an unexpected “membership war” across the retail industry, as competitors scramble to improve their own loyalty programs to retain customers [...]
SEOUL, Apr. 16 (Korea Bizwire) — While the number of women benefiting from South Korea’s national pension system has steadily increased, a substantial gender gap remains when compared to their male counterparts, highlighting the need for further progress. According to data from the National Pension Service, the number of female subscribers reached 10.15 million as of [...]
SEOUL, Apr. 16 (Korea Bizwire) — BMW Group Korea announced on April 15 that the German automaker purchased components worth 4.5 billion euros (approximately 6.63 trillion won) from South Korean suppliers in 2023, a figure that surpasses the company’s total revenue of 6.17 trillion won in the country last year. The 2023 purchase amount represents a [...]
SEOUL, Apr. 16 (Korea Bizwire) — In a significant shift within South Korea’s imported car market, hybrid vehicle sales surpassed gasoline-powered models for the first time in the first quarter of this year, signaling a robust trend favoring hybrid offerings. Following the initial milestone in November 2023, when hybrid cars outsold gasoline variants on a monthly [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
JEJU, Apr. 15 (Korea Bizwire) — Authorities on Jeju Island in South Korea have removed stone piles erected by hikers near the crater lake on Geum Oreum, a volcanic cone, to safeguard the habitats of amphibians such as snails that reside there, officials said on April 14. The Jeju Provincial Government announced that it had finished [...]
SEOUL, Apr. 15 (Korea Bizwire) — More than 7 in 10 South Koreans in their 20s and 30s profess a lack of confidence in the national pension system, citing concerns over population decline and the potential depletion of funds, according to a government study released on April 14. The Korean Women’s Development Institute surveyed 1,152 people [...]
SEOUL, Apr. 15 (Korea Bizwire) — Despite a significant drop in sales for major online luxury goods platforms in South Korea due to the economic downturn, the pre-owned luxury market has shown resilience, even setting a record transaction volume last month in line with the start of the new school year, industry data showed on April [...]