The average price of bibimbap rose above 11,000 won ($8.10) in September, despite slowing inflation in food products in recent months, government data showed Monday. According to data from the Korea Consumer Agency, a bowl of bibimbap in Seoul cost 11,038 won on average in September, up slightly from 10,962 won the previous month. The bibimbap price has been on the upward trend since first surpassing the 10,000-won mark in January last year. Bibimbap and samgyetang were the only two dishes tha

Mercedes-Benz Korea said Monday that its all-electric vehicle EQS 450 4 MATIC has been selected as the official diplomatic car for the Embassy of Germany in the country. Ambassador Georg Schmidt underlined the German embassy’s commitment to continuously upgrading its mobility for sustainability in Korea. In this photo, Schmidt (left) and Mercedes-Benz Korea CEO Mathias Vait pose with the newly appointed EV. (Mercedes-Benz Korea)

Former industry and science ministers urged the government to take a more proactive approach to support the domestic chip industry, including providing direct subsidies, to maintain an edge in the intensifying global semiconductor race. Five former ministers and chip experts on Monday discussed the future of Korea's chip industry at a special panel discussion organized by the Federation of Korea Industries in Seoul, where they agreed on the need for "all-around" support from the g

Oktoberfest has arrived at Songnidangil BBQ Village, bringing a taste of Bavaria to the heart of Seoul for the entire month of October. In partnership with German beer Paulaner, the Oktoberfest beer of which is served in Munich's Oktoberfest tents, Korean chicken giant BBQ Chicken is offering a special Bavarian-themed menu and festive atmosphere at its Jamsil branch in southern Seoul. At the heart of the celebration is the Oktoberfest Platter, a feast featuring brathendl (roast chicken), br

South Korean telecom carrier KT is reportedly set to carry out an organizational revamp focused on artificial intelligence while elevating profitability and efficiency, according to industry sources Monday. KT plans to hold a board meeting on Tuesday, with organizational restructuring and personnel relocation likely topping the agenda. The board is expected to approve the establishment of two subsidiaries dedicated to network operation and maintenance, KT OSP and KT P&M, to start operation f

Eight out of 10 international college students studying in Korea are willing to work in the country, yet the proportion of professional foreign laborers securing jobs remains quite low, according to a recent report by the Korea International Trade Association. The report, released Monday, noted that the number of foreign students in Korea has steadily increased over the past decade, reaching 197,000 in 2022. However, only 6 percent of these students secured employment through the E-7-1 professio

Coupang has announced the completion of its Gwangju fulfillment center, which will become the company’s largest Rocket Delivery hub for South Jeolla Province. The company said the new facility also aims to expand sales channels for local small and medium-sized enterprises and contribute to revitalizing the regional economy. The completion ceremony took place Monday at the Pyeongdong industrial complex, attended by over 100 guests, including Gwangju Mayor Kang Gi-jung and Coupang Representa

Renault Korea and KG Mobility, the two underdogs in Korea where Hyundai and Kia cars dominate almost 90 percent of the market, are starting to edge in with their latest midsize sport utility vehicles. As consumer interest in smaller city cars declines, midsize SUVs are gaining popularity here, driven by increasing demand for larger, family-friendly vehicles and automakers’ focus on more profitable segments. According to September data from the Korea Automobile & Mobility Association, K

Samsung Biologics announced Monday that it has launched S-HiCon, a new platform specializing in high-concentration formulation development, designed to meet rising demand for high-concentration biopharmaceuticals. The company officially introduced the platform at Bio Japan 2024, a biotechnology expo held from Wednesday to Friday in Yokohama, Japan. A webinar explaining the platform was also released via the company's official website Monday. S-HiCon is designed to meet increasing market dem

South Korean bakery giant SPC Group announced Monday that it has nominated Executive Managing Director Lim Byung-sun as its new CEO. Lim, a business management specialist, has previously served as an executive at Shinsegae Group and its affiliates, including Shinsegae Casa and its department stores. SPC is set to appoint Lim as CEO by the end of this week. Lim will manage the group's business sectors including human resources, legal, corporate relations, compliance and public relations. Lim

Japan Tobacco Group subsidiary JTI Korea is sharpening its focus on a consumer-first approach as it prepares to launch its first heated tobacco product in Korea by year-end, part of the company’s broader strategy to foster sustainable growth amid shifting market conditions, JTI Korea said Monday. As a company that has been recognized as a "Top Employer in South Korea" for five consecutive years, David Wheeler, general manager of JTI Korea, in a message to employees emphasized the

Daewoong Foundation, a scholarship foundation established by late Daewoong Pharmaceutical founder Yoon Young-hwan, said Monday that it has set up a Hangeul language school within Indonesia’s Bali Tourism Polytechnic in an effort to promote cultural exchange between the two countries. The program goes beyond language education, offering a comprehensive curriculum that includes lessons on Korean culture, career development and practical skills, all led by experienced Korean educators. The in

Hyundai Motor has donated two vehicles and 315 car seats for children to Hanlove, a welfare center for disabled people in Gwangju, Gyeonggi Province, to improve disabled children’s right to free mobility. According to the automaker, two Staria minivans -- one that has been redesigned to ease the on-boarding of wheelchairs with a simple mechanism and the other tailored to fit the physicals of children better than the original model -- were delivered to the welfare center on Friday. (Hyundai

Kurly, the South Korean e-commerce company, is ramping up efforts to expand its beauty platform Beauty Kurly as a key pillar of its business alongside its flagship overnight grocery delivery service. As part of this initiative, Kurly hosted the Beauty Kurly Festa 2024, which ran from Thursday to Sunday and drew over 20,000 visitors. The event featured over 90 beauty brands, including luxury names like Lancome and Sisley, alongside mid-range brands. Attendees enjoyed promotions, raffles, product

South Korea's exports of information and communication technology (ICT) products rose for the 11th consecutive month in September, driven by record sales of semiconductors, data showed Monday. Outbound shipments of ICT products came to $22.4 billion last month, up 24 percent from $18.04 billion a year earlier, according to data compiled by the Ministry of Science and ICT. The monthly tally marked the second highest since March 2022. Imports of ICT products increased 15.9 percent on-year to

South Korean shares opened slightly higher Monday, taking a cue from Wall Street gains. The benchmark Korea Composite Stock Price Index (Kospi) added 15.92 points, or 0.61 percent, to 2,612.83 in the first 15 minutes of trading. The rise follows gains on Wall Street last week. The Dow Jones Industrial Average closed 0.97 percent higher Friday (US time), with the tech-heavy Nasdaq advancing 0.33 percent. In Seoul, large caps traded mixed. Market kingpin and tech giant Samsung Electronics advanced

Samsung Electronics, South Korea’s largest chipmaker, has seen its market cap shrink by a staggering 90 trillion won ($66.6 billion) since September, largely driven by a sustained selling spree among foreign investors. According to the Korea Exchange on Sunday, foreigners have net sold 10.6 trillion won in Samsung Electronics shares over the past month, marking 23 consecutive days of selling since Sept. 3 -- just two days shy of the record 25-day selling streak set in 2022. During this per

As global carmakers rush to make the costly transition to carbon-free electric vehicles, Park Jeong-min, CEO of the Seoul-based startup JM.Wave, asks, “What about the remaining internal combustion engine cars?” The 7-year-old company holds the "repowering technology" that converts vehicles with internal combustion engines into EVs. It is also the first to get regulatory sandbox approval from the Ministry of Land, Infrastructure and Transport after passing a safety verificat

LG Innotek Chief Executive Officer Moon Hyuk-soo is stepping up efforts to recruit top talent from around the globe with the goal of boosting the company's competitive edge in the global market, where it makes the vast majority of its sales, the company said Sunday. Moon recently traveled to the US and hosted the company's main hiring event, "Inno Connect," in San Francisco, where he and Chief Human Resources Officer Kim Heung-sik and Chief Technology Officer Roh Sung-won pre

SK Chairman Chey Tae-won's second daughter Chey Min-jung, 33, tied the knot with Chinese American entrepreneur Kevin Huang in a private wedding in Seoul, where some 500 guests, including the country's top business leaders, gathered for the celebration. Amid their ongoing divorce suit, Chey Tae-won and his ex-wife Roh Soh-yeong both attended the wedding, facing each other for the first time since the latest court ruling in May. Chey Min-jung and Huang reportedly met as neighbors in Wash