Business
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Apple to release long-awaited digital payment service in S. Korea
SEOUL -- American tech company Apple, famous for its iPhone and iPad models, will release its digital payment service in South Korea, about eight years after it was first released in the United States in October 2014. Apple is the last mover in South Korea where digital payment services including Samsung Pay have become part of people's everyday lives. The rumor about Apple Pay coming to South Korea has been around for years and the unproven story became real in early February
February 8, 2023 -
7-Eleven's non-face-to-face offline secondhand trading service gains popularity among women
SEOUL -- Convenience store franchise 7-Eleven's offline non-face-to-face secondhand item trading service is gaining popularity among women, which accounts for about 70 percent of total users. The convenience store operator said that women who are likely to be sensitive to safety issues favored non-face-to-face transactions. In most cases, secondhand trades in South Korea are done by selecting a place to meet and trade between a seller and buyer. Remote trading using local parce
February 8, 2023 -
Current account swings back to surplus in December, helped by growing dividend income
SEOUL -- South Korea's current account returned to a surplus in December on the back of growing dividend income after recording a deficit in November, according to data released by the Bank of Korea (BOK) on February 8. The country posted a $2.68 billion surplus in the current account in December, marking a reversal from a deficit of $220 million a month earlier. The sum, however, plunged 57.9 percent from $6.37 billion a year earlier. The current account is a broad measure o
February 8, 2023 -
Cosmax develops texture perception solution capable of predicting cosmetic usability
SEOUL -- Cosmax, a cosmetics original development manufacturer in South Korea, developed texture perception technology capable of predicting the performance of cosmetic products without actually using them. The solution can be used to create personalized products as it evaluates beauty products' spreadability through quantified values without involving subjective opinions. It's been difficult to evaluate the degree of spreadability and moisture as the usability of cosmetic
February 7, 2023 -
Simens Gamesa partners with Doosan Enerbility for offshore wind power projects in S. Korea
SEOUL -- Doosan Enerbility, a key player in South Korea's power industry, teamed up with Siemens Gamesa, a Spanish-German wind power solution producer, to carry out various offshore wind projects in South Korea. The South Korean manufacturer will adopt the Spanish-German company's offshore direct drive nacelle technology. A nacelle is a component of a wind turbine that houses various equipment including a shaft, gearbox, and generator. Although most wind turbines use a gear
February 7, 2023 -
S. Korean firms concerned about possible deterioration in business environment in Vietnam: survey
SEOUL -- South Korean companies doing business in Vietnam have concerns about a potential deterioration in the business environment in the Southeast Asian country, according to a recent survey conducted by the Korea Institute for Industrial Economics and Trade (KIET) and the Korea Chamber of Business in Vietnam (Kocham). Out of 326 surveyed Korean firms, 49.7 percent said they predict that the business environment there will get worse down the road. And 38 percent of them cited t
February 6, 2023 -
India to benefit from US-China great power rivalry: BOK
SEOUL -- The Bank of Korea (BOK) said February 5 that India is likely to benefit from the ongoing great power competition between the United States and China. The central bank said in a report that if China's role is reduced in the global supply chains due to conflicts between the U.S.-led Western democracies and authoritarian countries such as China and Russia, India could emerge as a beneficiary of the rivalry. The BOK took an example of Taiwan's Foxconn, the world
February 6, 2023 -
Papa John's Korea releases first vegan pizza products in S. Korea
SEOUL -- Targeting South Korea's steadily growing vegan population, the South Korean office of American pizza restaurant chain Papa John's has rolled out vegan pizza products for the first time among domestic pizza brands. The plant-based pizzas will be sold through more than 220 Papa John's stores across the country. South Korea's vegan meat market has been rapidly growing to meet demands of some 2 million vegans. Data released by the Korea Agro-Fisheries & Foo
February 6, 2023 -
Fuel prices surge 31.7% in January, hitting highest level since April 1998
SEOUL -- Fuel prices skyrocketed more than 30 percent in January, driven by high global energy prices, according to the Korea Statistical Information Service (KOSIS). The state data portal said February 5 that the fuel price index surged 31.7 percent year-on-year to 135.75 last month, hitting the highest level since it soared 38.2 percent in April 1998 in the aftermath of the 1997 Asian financial crisis. Electricity charges jumped 29.5 percent, the highest since they climbed
February 6, 2023 -
[Weekly Stock Market] Foreigners' buying spree likely to support market rally
SEOUL -- Last week, the KOSPI initially began in negative territory with selling pressure experienced during Samsung Electronics’ investor earnings call which provided negative headline newsflow denoting no plans to reduce ca
February 5, 2023
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Top security officials of South Korea, US, Japan discuss NK troop deployment to Russia
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Veteran actress Kim Soo-mi dies at 75
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VISUALS: Extreme sports festival kicks off at Gwanghwamun
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South Korea, U.S. defense chiefs to hold talks in Washington
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North Korean troops in Russia are Moscow's 'business,' Putin says
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LG Electronics heat pump to win innovation award at US expo
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PHOTOS: Korea observes Dokdo Day
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Hyundai Mobis posts 31.6% jump in Q3 operating profit
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Old movies make comeback to theaters with nostalgic appeal
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Cyclonic storm makes landfall on eastern Indian coast