Woori Card has launched K-Check Card, a special product tailored to foreign customers residing in Korea, in commemoration of breaking the milestone of 5 million card users.Foreign residents in Korea are expected to reach 3 million in 2021. They are important customers with a fast growth rate and a h

Kolon Global announced on Dec. 2 that it has signed a strategic business agreement with drone startup Carta to jointly develop smart construction technology using a drone platform.Through this agreement, Kolon Global will provide Carta with infrastructure for technology development, including a test

The number of Korea’s 5G mobile service users has surpassed 4 million in one year after the first 5G commercial service was launched for enterprise customers on Dec. 1, 2018.As of Nov. 29, eight months after the launch of 5G services for residential customers, Korea had about 4.33 million 5G subscri

Blockchain-based mobile e-certification service has been presented as a key solution of the MyData business to reinforce personal information decision-making. MyData, a new industry, is an innovative industry to be fostered by the government.At the “2019 My Data Conference” held in Seoul on Nov. 29,

Yeo Min-soo, co-chairman of Kakao, stressed that he will actively support the popularization of blockchain-based services through “Klip,” a cryptocurrency wallet that will be released in the first half of next year. Kakao is planning to make Klay, a cryptocurrency to be stored in Klip, available for

A positive outlook for Korean stocks is provided by major global securities companies. Despite foreigners’ recent record selling, major global securities firms said, "Next year's economy will rebound and company profits will increase.” At the end of last month, JP Morgan said the Korean stock ma

Daily commodities such as groceries and clothing are more expensive in Seoul than in other major cities across the world, a survey has found.The Bank of Korea (BOK) said in Foreign Economic Focus on Dec. 1, “Despite a recent sharp fall in consumer price growth, many Korean people think that consumer

A global smart farm management company, uLikeKorea Co. announced on Nov. 28 that it has successfully developed the world’s first bio-capsule for sheep health management. With the newly developed bio-capsule, uLikeKorea plans to enter the global sheep market (1.2 billion sheep in the world) and will

South Korea has successfully established a bridgehead for its strategy of moving out of China to Southeast Asia through the 2019 Association of Southeast Asian Nations (ASEAN) and Republic of Korea Commemorative Summit. Under escalating uncertainties fueled by the U.S.-China trade war and South Kore

Easy insurance registration is becoming a reality for e-commerce business owners.Global e-commerce platform Cafe24 and KB Insurance signed a MOU on Nov. 27 at the KB Insurance headquarters in Gangnam Seoul to support and vitalize insurance services specifically catered to e-commerce merchants.Under

Samsung Electronics held the C-Lab Outside Demoday event at the Samsung Seoul R&D Campus on Nov. 26. It was attended by more than 300 startup CEOs, investors and Samsung Electronics staff and executive members and 20 startups supported by the C-Lab Outside program introduced their products and servi

The Korea Financial Investment Association announced on Nov. 24 that the balance of overseas investment funds increased from 174.87 trillion won on Nov. 1 to 177,42 trillion won on Nov. 21 with investors shunning the South Korean stock market particularly vulnerable to external uncertainties and foc

Air New Zealand, which withdrew from the South Korean market in 1997, resumed its direct flight service between South Korea and New Zealand in 22 years. “We decided to resume the service in that the number of South Koreans visiting New Zealand is on the increase,” Air New Zealand acting CEO Jeff McD

S-OIL held the 2019 Hero Citizens Award Ceremony on Nov. 25 at the S-OIL head office in Mapo-gu, Seoul, offering 140 million won to 23 hero citizens who put themselves at risk to save others in peril.S-OIL presented both prize money and plaque to the courageous and brave hero citizens including Kim

Korean electronics companies continue to expand their R&D investment to secure future growth engines, but the Korean government has scaled back the tax breaks for them.According to the Financial Supervisory Service on Nov. 21, major Korean electric and electronics companies increased their R&D inves

The first patent in Cambodia that is based on the Patent Recognition Program (PRP) of South Korea and Cambodia has been registered. With the PRP, which became effective on the first day of this month, the registration of a Cambodian patent corresponding to a registered South Korean patent can be com

KOSPI dipped below 2,100 points by falling more than 1 percent for two days in a row and KOSDAQ fell over 2 percent on Nov. 21, when the won-dollar exchange rate closed at 1,178.1 won per U.S. dollar after soaring eight won in just one day.This was because of the ongoing trade disputes between the U

Hyundai Motor Group signed a memorandum of understanding with Seoul City in order to develop downtown self-driving technology in Gangnam.According to the MOU, the city is planning to provide Hyundai with traffic signal and road infrastructures essential for the autonomous driving and the automaker w

The Korea Fair Trade Commission (KFTC) has started a procedure to determine whether to punish Mirae Asset Group based on its conclusion that the group conducted large-scale intra-group transactions with a company owned by its owner family.The KFTC recently sent a report to the group and the group’s

Doosan Infracore unveiled a comprehensive control solution for construction sites at its Proving Grounds in Boryeong City, Korea, on Nov. 20.Dubbed “Concept-X,” the solution can be used to survey worksite topography via 3D drone scanning, establish operational plans based on the topographical data,