Business
-
Samsung regains top position in Southeast Asia's smartphone market
SEOUL -- Samsung Electronics has regained its position as the top player in Southeast Asia's smartphone market, thanks to increased consumer attention towards the company's artificial intelligence-based smartphone features. Boosted by sales of affordable phones, Chinese electronics maker Transsion overtook Samsung to become the leader in late 2023. The South Korean tech giant, renowned for its hi-tech smartphones, is primarily targeting Southeast Asian consumers with its p
March 7, 2024 -
Top trade negotiator will head to Washington for talks
SEOUL -- South Korea's trade chief, Jeong In-kyo, plans to visit Washington, D.C. next week for discussions with Katherine Tai, the U.S. trade representative. Jeong, who leads the trade department at the Ministry of Trade, Industry and Energy, will use the visit to address various trade concerns between the two countries, including the implementation of their existing free trade agreement (FTA). With the U.S. presidential election looming in November, Jeong plans
March 6, 2024 -
Global EV battery firms to showcase new tech at 'InterBattery' exhibition in Seoul
SEOUL -- A total of 579 electric vehicle battery companies from 18 countries will participate in the InterBattery, an annual battery exhibition held in Seoul from March 6 to March 8. Exhibitors will showcase new battery-related technologies and products at the COEX Convention & Exhibition Center located in Gangnam District, the fashion and finance hub of Seoul. The annual battery event, organized by the Ministry of Trade, Industry and Energy, is one of the largest battery exhi
March 6, 2024 -
Aussie whiskies will be sold in Korean convenience stores
SEOUL -- South Korea's major convenience store chain, CU, announced the launch of "NED Whisky," a popular Australian brand, marking their entry into the affordable whisky market. Last year, CU saw success with the exclusive launch of "Rulett Premium Whisky" from India, priced under $23. The limited-edition bottles sold out within a week, with even the additional import batch disappearing within a month, totaling 5,000 bottles sold. This highlights th
March 6, 2024 -
LG Energy Solution launches battery swapping business for electric motorcycles
SEOUL -- In a move aimed at tapping into South Korea's delivery market, Kooroo, the in-house venture of battery manufacturer LG Energy Solution, has launched its electric motorcycle battery swapping station business. This service allows riders to swap batteries for fully charged ones in approximately 20 seconds, eliminating the need for time-consuming waits for charging. Despite their eco-friendly features, electric motorcycles have faced reluctance from delivery workers due t
March 5, 2024 -
Gmarket opens low-temp logistics center targeting one-day delivery service customers
SEOUL -- In an effort to gain a competitive edge in South Korea's ecommerce market dominated by Coupang, the South Korean counterpart of Amazon, major ecommerce platform Gmarket opened a low-temperature logistics center for fresh goods delivery service. Customers can now order fresh groceries through the ecommerce giant's overnight delivery service. Overnight and one-day delivery services garnered explosive popularity in South Korea during the pandemic. When people were
March 5, 2024 -
Kia reports 4.6% decrease in February sales
SEOUL -- Kia announced that it sold a total of 242,656 units in February 2024, marking a 4.6 percent decline compared to the same month last year. Domestically, Kia sold 44,076 units, while overseas sales amounted to 198,580 units this February. This reflects a 12. percent decrease domestically and a 2.8 percent decrease overseas compared to February 2023, resulting in an overall sales decline of 4.6 percent. The drop in domestic sales is attributed to a decrease in working day
March 4, 2024 -
S. Korea's pet care market grows 5.6% to $2.4 billion in 2023: market data
SEOUL -- South Korea's love for furry friends is showing no signs of slowing down. According to data released by global market analyst firm Euromonitor, the country's pet care market reached a staggering $2.45 billion in 2023, marking a 5.6 percent increase from the previous year. This impressive growth comes amidst a larger trend: the market has tripled in size since 2013, outpacing the global average of a 1.9-fold increase during the same period. Several factors are cont
March 4, 2024 -
Southern port city to demonstrate food drone delivery services for near-shore vessels and fishing areas
SEOUL -- The southern port city of Busan is set to showcase drone delivery services, aiming to transport food and essential items to vessels near the shoreline and individuals at popular fishing locations. This initiative seeks to promote the use of aerial delivery systems and enhance leisure experiences by providing greater convenience. In South Korea, where tension with North Korea persists, private drone operators face significant restrictions due to airspace regulations. Many
March 4, 2024 -
S. Korean cable firm replaces New York's outdated power grid using new technique
SEOUL -- South Korea's major power cable maker Taihan Cable & Solution has embarked on a groundbreaking project to replace New York's outdated power grid using an innovative cable-laying technique. This new method requires minimal space and equipment, making it particularly suitable for construction sites in bustling urban areas. In October 2023, Taihan secured a contract for the replacement of aging power cables linking New York's power grid with the John F. Kenne
March 4, 2024
-
Trump's former chief of staff calls him 'fascist'
-
LG CNS introduces ERP testing solution to Japan
-
India, Iran pledge stronger ties at summit
-
South Korea reports over 3,000 crime victims in Philippines
-
SK hynix posts record quarterly earnings on AI chip boom
-
UN delays Gaza polio vaccination due to ongoing conflict
-
Hezbollah confirms death of successor in Israeli airstrike
-
Korea's economy edges up 0.1% in third quarter
-
BOJ's Ueda signals concerns over gradual rate hikes
-
China to launch monthlong consumption campaign in five major cities