Business
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Megastore franchise Emart to open third store in Viet Nam
SEOUL -- Emart, the megastore wing of South Korea's retail conglomerate Shinsegae, will open its third store in Viet Nam in about a year after the launch of its first store in November 2022. Visitors can enjoy various types of food products such as pizza and Gimbap, a Korean dish of rice and other ingredients such as vegetables and meat wrapped in sheets of laver. Emart said in a statement that the third store, located in Ho Chi Minh City, will start operations on December 7. Th
December 6, 2023 -
State electricity company partners with Jordan's state agency for small modular reactor project
SEOUL -- Korea Hydro & Nuclear Power, a state operator of South Korea's nuclear power plants, will work with Jordan's state agency responsible for atomic energy projects, to provide its small modular reactor that is claimed to be smaller and safer than the conventional reactors. The South Korean company will carry out a technology exchange and feasibility study with Jordan, considering the adoption of the small modular reactor after 2030. Small modular reactors (SMRs) ha
December 5, 2023 -
Spicy rice cake Tteokbokki franchise Addal receives Malaysia's halal authorization
SEOUL -- South Korea's street food franchise operator Addal has secured halal certification for Tteokbokki, finger-sized rice cakes simmered in fiery-red spicy chili sauce, from the Malaysian government. Halal-certified food products are considered to be safe and clean under Islamic standards. The food maker will release three different ready-to-eat Tteokbokki products in the Southeast Asian country targeting Muslim consumers. Malaysia's Jabatan Kemajuan Islam Malaysia (JAKI
December 5, 2023 -
S. Korea to allow customers use ATMs without plastic cards
SEOUL -- In line with the current "walletless' trend where people no longer carry plastic cards and make payments with their smartphones, South Korea will allow customers to use automatic teller machines through QR codes shown on their smartphones' display by mobile banking apps. According to data released by the state financial watchdog, a total of 61,233,000 plastic cheque cards were issued in the first quarter of 2023, down 6.9 percent from the same period a year ago
December 5, 2023 -
Lotte seeks to become gamechanger in S. Korea's grocery delivery market with new fulfillment centers
SEOUL -- Lotte Shopping, the retail wing of South Korea's Lotte Group, will seek to become the gamechanger in the country's ecommerce grocery delivery service market estimated to reach about 54 trillion won ($41.2 billion) in 2025 by establishing consumer fulfillment centers which would play the role of cold chain logistics hubs for fresh goods and groceries. South Korea's online grocery and fresh goods delivery market is dominated by Coupang, the South Korean counterpar
December 5, 2023 -
Bank of Korea freezes benchmark interest rate at 3.5% for seventh consecutive time
SEOUL -- South Korea's central bank has decided to freeze its key interest rate at 3.5 percent. The benchmark interest rate has remained unchanged through seven consecutive discussions since February 2023. The Bank of Korea (BOK) determined the base interest rate during this year's last monetary policy board meeting on November 30. The BOK has maintained the benchmark interest rate in February, April, May, July, and October after raising it by 0.25 percentage points in Janua
November 30, 2023 -
S. Korean OTT services to merge in bid to check Netflix and foreign services
SEOUL -- The operators of South Korean over-the-top video content streaming services -- Tving and Wavve -- have engaged in discussions over the merger of the two services in a bid to check foreign services including Netflix, the world's biggest over-the-top (OTT) service, and Disney+, operated by multinational entertainment and media company Disney. According to South Korea's fair trade watchdog, the domestic over-the-top (OTT) service market, estimated to stand at $1.9 bill
November 30, 2023 -
CJ Cheiljedang releases spicy rice cake Tteokbokki in Australia
SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, has partnered with Australia's major convenience store chain EzyMart to release Korean food products including Tteokbokki, finger-sized rice cakes simmered in fiery-red spicy chili sauce. The street food is included in a premium ready-to-cook product brand "Bibigo." EzyMart operates some 450 stores across Australia, with about 200 of them located in Sydney. Chei
November 30, 2023 -
State electricity company joins small modular reactor projects with Canadian partners
SEOUL -- Korea Hydro & Nuclear Power, a state operator of South Korea's nuclear power plants, has partnered with ARC Clean Technology, a small modular reactor developer in Canada, to take part in businesses related to nuclear reactors that are claimed to be smaller and safer than the conventional reactors. The South Korean company will cooperate to commercialize ARC's technology in various countries including the United States, Canada, and South Korea. Small modular reac
November 29, 2023 -
Global defense exhibition 'DX Korea' to take place in Seoul's satellite city in 2024
SEOUL -- "DX Korea," one of South Korea's largest defense exhibitions, will be held at a convention center in Goyang, a northwestern satellite city of Seoul, for three days in September 2024. Various arms manufacturers and military officials from South Korea and abroad will participate in the biannual event designed to showcase advanced products for ground forces. About 350 companies from 40 countries took part in the previous exhibition in 2022. According to the exh
November 29, 2023
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Yoon condemns North Korean troop deployment to Russia
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VISUALS: Farmers stack harvested rice in price protest
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Rosé of BLACKPINK racks up 100 million views on YouTube with latest single
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Samsung expands Galaxy AI language support to 20 languages
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Korean builders test robot delivery services at apartment complexes
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Activities spotted at North Korea's demolished inter-Korean road site
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Hyundai Motor reports drop in quarterly operating profit on warranty costs
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US expresses concern over North Korean troops in Russia
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LG Electronics Q3 profit falls despite record sales
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Myanmar rebels seize key rare earth mining hub, disrupting military junta's revenue