South Korean carmakers voluntarily recall almost 49,000 vehicles including Audi, BMW for defective parts

Aug 26, 2021 09:58 am UTC| Business Economy

There is a new round of vehicle recalls in South Korea, and it involves six unit models. It was reported that BMW, Mercedes-Benz, Audi, and two more automakers have voluntarily issued a recall which will affect almost...

POSCO Chemical investing $240.8M to build battery materials plants in China

Aug 26, 2021 09:56 am UTC| Business Economy

POSCO Chemical, a leading company in coal chemistry and carbon materials, is set to spend $240.8 million or around ₩281 billion to set up two battery materials factories in China. It was reported that these will be the...

S. Korea to pass a bill to block Google Play, Apple's App Store’s in-app billing system

Aug 26, 2021 08:02 am UTC| Business Economy

Googles Play Store and Apples App Stores in-app billing system are expected to be banned in South Korea soon as the countrys law-giving body is set to pass a bill for this. It was revealed on Wednesday, Aug. 25, that the...

SK Telecom unveils its new subscription e-commerce platform T Universe

Aug 26, 2021 07:02 am UTC| Business Economy

SK Telecom announced this week that it has launched the T Universe, the companys new subscription e-commerce platform. The South Korean mobile service provider unveiled its new service on Wednesday, Aug. 25. According...

South Korea slaps Facebook, Netflix with heavy fine of $5.7 million for privacy violations

Aug 26, 2021 06:20 am UTC| Business Economy

Facebook and Netflix were hit with a heavy fine in South Korea. The countrys regulator on personal information protection said that the American tech companies violated some privacy rules, so they were penalized and must...

NFT sales surge in August as speculators pile in

Aug 26, 2021 04:23 am UTC| Digital Currency Economy

Non-fungible token (NFT) sales surged in August as speculators bet growing interest across the art, sport, and media worlds will keep prices rising, according to the largest platform for the burgeoning digital asset...

Nissin Foods reports 50 billion unit sales milestone for Cup Noodles

Aug 26, 2021 04:04 am UTC| Economy Business

Nissin Foods Holdings Co. reported selling 50 billion units of its Cup Noodles worldwide, ahead of the 50th anniversary of the products launch this September. Cup Noodles has become a longtime seller thanks to...