Hyundai Elevator said Thursday that it has signed a memorandum of understanding with Kakao Mobility to integrate Kakao's robotics technology with Hyundai's vertical transportation systems. The signing ceremony took place at Kakao Mobility's headquarters in Seongnam, Gyeonggi Province, on Wednesday, with CEOs from both companies in attendance. The companies agreed to standardize elevator-robot interactions and ramp up strategic cooperation across research, production and marketing.

Industry Aug. 8, 2024

South Korea's top bakery chain Paris Baguette held its inaugural franchise convention for US franchisees in Las Vegas on Aug. 5-7. Under the theme "Layers of Success," the three-day event brought together 250 executives, current franchisees and prospective partners to foster communication and networking within Paris Baguette's diverse franchise community. Paris Baguette America's executives, led by CEO Darren Tipton, shared the company's strategic vision, marketing

Industry Aug. 8, 2024

South Korean food conglomerate Samyang Roundsquare has set up its European subsidiary in the Netherlands, according to industry sources on Wednesday. The company has filed the necessary paperwork and has already begun hiring, insiders told local media. The subsidiary marks Samyang's fifth overseas corporation, following established operations in Japan, China, the United States and Indonesia. "We've established this entity to optimize our supply chain across Europe. The Netherlands

Industry Aug. 7, 2024

South Korea's Public Procurement Service is spearheading efforts to help local businesses break into the global procurement market, valued at an estimated $12 trillion. Of this total, Korean companies are positioned to vie for a lucrative $2 trillion portion, presenting a significant opportunity for the nation's export economy, according to PPS's estimate. Recently, the agency has been doubling down on its support for aspiring businesses. A host of comprehensive initiatives has al

Industry Aug. 7, 2024

The Public Procurement Service, responsible for managing procurement contracts worth 209 trillion won ($152 billion) last year — a third of the South Korean government's entire spending — serves as both an allocator of domestic demand and a driver of innovation for the country’s thriving small and medium-sized enterprises. Lim Ki-keun, who was appointed as PPS administrator in December last year, has taken on this critical responsibility during a period of mounting global

Industry Aug. 7, 2024

South Korean politics is once again in an uproar following recent revelations of wealth transfers from several high-level government officials to their children. These officials, nominated for high-ranking positions requiring National Assembly confirmation, have reignited fierce debates about elite privilege, inheritance schemes and the ethical obligations of public servants in the last few weeks. In a society that demands strict financial integrity and transparency from its leaders, these incid

Social Affairs Aug. 7, 2024

South Korea's ruling People Power Party filed a motion Friday to expel opposition Democratic Party of Korea Rep. Rep. Choi Min-hee over alleged discriminatory comments against a North Korean defector-turned-lawmaker. The controversy came about at a Monday confirmation hearing for state broadcasting regulator chief Lee Jin-sook. Choi, chairing the Assembly's Science, ICT, Broadcasting and Communications Committee, reportedly told People Power Party Rep. Park Choong-kwon, who defected fr

Politics Aug. 2, 2024

Seoul is expanding its Climate Card program to Guri, Gyeonggi Province, just east of the capital, in the latest move to make the eco-friendly monthly transit pass more accessible across the Greater Seoul area. Officials from the two cities signed off on the decision in a virtual meeting attended by Seoul Mayor Oh Se-hoon and Guri Mayor Baek Kyung-hyun on Friday, according to the Seoul city government. Starting Aug. 10, Guri residents can use the pass at 24 subway stops on lines connecting to the

Social Affairs Aug. 2, 2024

Nearly 70 percent of South Koreans aged 55 to 79 are willing to work past retirement, data showed, reflecting the ongoing financial insecurities among the country's senior population. The figure, coming from a May survey by the government’s statistics body, represents an increase of 0.9 percentage point from the previous month. Additionally, 20.7 percent of seniors actively sought employment in the past year, also up 0.9 percentage point from April. The data was released Tuesday. Resp

Social Affairs July 31, 2024

Seventy-four years ago, troops from 22 nations, led by US Gen. Douglas MacArthur under the United Nations flag, were dispatched to defend South Korea against North Korean aggression. The bloody conflict left millions dead, with over 100,000 UN casualties. July 27, commemorated annually as National Korean War Armistice Day, marks the signing of the 1953 agreement that ended the three-year conflict. This day of national recognition honors all those who served, fought and died during the Korean War

Social Affairs July 30, 2024

South Korea's health care system is grappling with a severe shortage of cardiology residents as a nationwide doctors' strike enters its seventh month. Recent data from The Korean Society for Thoracic and Cardiovascular Surgery reveals that only 12 of the country's 107 cardiology residents are still on duty. The study, conducted over three days last week, shows 75 residents have resigned and 20 have pending resignation requests. Several major regions, including Gangwon and North Ch

Social Affairs July 29, 2024

Gridlock is expected to persist in South Korea's legislature, as the rival parties remain locked in a cycle of the ruling party filibustering opposition-led bills, with the president then vetoing them, with no efforts to find bipartisan consensus. The latest in this ongoing political tug-of-war centers on a series of broadcasting bills to curb government influence over public broadcasters. On Sunday, the opposition-led National Assembly passed the second of four such bills, overriding a fil

Politics July 28, 2024

A ruling party lawmaker on Wednesday addressed the need for legislation to crack down on defamatory YouTube content, citing recent controversy over the blackmail of a popular mukbang star. During a confirmation hearing for Lee Jin-sook, nominee for Korea Communications Commission chair, Rep. Shin Sung-bum pressed for her views on the issue, noting it has inflicted immense harm on the victims. The discussion was prompted by a recent incident involving Tzuyang, a renowned mukbang content creator w

Social Affairs July 24, 2024

Over half of outpatients in South Korea spent under five minutes with their doctor during medical appointments last year, a study showed Wednesday. The study, commissioned by the Health Ministry and conducted by the Korea Institute for Health and Social Affairs, gathered responses from 14,910 individuals between July 24 and Sept. 22 last year. Its findings show that 55 percent of respondents reported spending less than five minutes with their doctor, with 17.6 percent saying consultations lasted

Social Affairs July 24, 2024

South Korea's ruling People Power Party on Tuesday elected Rep. Ihn Yohan, Korea’s first American Korean lawmaker, to its five-member Supreme Council, the party's highest decision-making body led by newly elected Chair Han Dong-hoon. Ihn, whose English name is John Linton, served as chair of the party's innovation committee last year. Elected to parliament this year through proportional representation, the dual US-Korean national was running mate to chair candidate Won Hee-r

Politics July 23, 2024