SEOUL, Jun. 10 (Korea Bizwire) – The burgeoning market for organoids – miniature, simplified versions of organs produced in vitro for research purposes – is spurring interest in regenerative therapies derived from these three-dimensional structures. According to a recent report from the National Institute of Food and Drug Safety Evaluation, the global organoid market is projected [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korea’s major shipbuilder Hanwha Ocean Co. said Monday it has launched a new wind turbine installation vessel (WTIV). Ordered by Cadeler Inc. in 2021, the WTIV measures 148 meters in length and 56 meters in width. It is capable of sailing while carrying five offshore wind turbines, each [...]
SEOUL, Jun. 10 (Korea Bizwire) — After hosting an inaugural summit with 48 African nations last week, President Yoon Suk Yeol is now heading to Central Asia for another round of “sales diplomacy” aimed at enhancing economic partnerships with resource-rich nations. Yoon kicked off a weeklong trip to Turkmenistan, Kazakhstan and Uzbekistan on Monday for [...]
SEOUL, Jun. 10 (Korea Bizwire) — Users of Naver Papago, the South Korean online portal operator’s artificial intelligence-powered translation service, have steadily increased, topping 20 million last month on overseas demand, industry sources said Monday. The number of Papago’s monthly active users (MAUs), both for app and web versions, reached 20.74 million in May, up [...]
SEOUL, Jun. 10 (Korea Bizwire) — South Korea’s exports to the United States exceeded those to China so far this year, data showed Monday, raising the possibility that the U.S. could be the top export destination for South Korea for the first time in 22 years. Outbound shipments to the U.S. amounted to $53.3 billion [...]
SEOUL, Jun. 10 (Korea Bizwire) – As the early summer heat sets in, the demand for watermelons is rising in earnest. While customers seeking large watermelons weighing over 6 kilograms, with the adage “the bigger, the better,” remain steady, mini watermelons and pre-cut watermelon slices are gaining immense popularity due to the increasing number of single [...]
SEOUL, Jun. 8 (Korea Bizwire) –As the United States Congress deliberates the Biosecure Act, which would prohibit federal agencies from dealing with certain Chinese biotech companies, South Korean pharmaceutical contract development and manufacturing organizations (CDMOs) are seizing the chance to attract new clients. The proposed legislation, which has reached the House floor for a full [...]
SEOUL, Jun. 8 (Korea Bizwire) –As South Korean consumers increasingly pursue value amid high inflation, convenience store chains are rolling out a wave of ultra-low-cost products priced below 1,000 won. With the “lunchhflation” of soaring midday meal costs straining office workers, these inexpensive food items have found particular appeal as affordable lunch options. The popular [...]
SEOUL, Jun. 7 (Korea Bizwire) – Facing mounting losses due to the emergence of formidable “C-commerce” rivals like Alibaba’s AliExpress and Temu, South Korea’s major e-commerce players have embarked on aggressive cost-cutting measures. Industry experts predict that these efforts to bolster profitability, rather than pursue growth at any cost, will continue throughout the year as external [...]
SEOUL, Jun. 7 (Korea Bizwire) – Facing intensifying headwinds in the global steel industry, POSCO, South Korea’s largest steelmaker, has reinstated a five-day workweek for its executives, just four months after pioneering a four-day schedule in an attempt to improve work-life balance. According to industry sources, POSCO notified employees last month that senior managers would return [...]