Seoul’s city council said Friday it has received plans from the city government to raise taxi fares. The draft document, “Proposal for Opinion Hearing on the Taxi Fare Adjustment Plan for Resolving Late-Night Ride Difficulties," outlines the city's proposal to increase basic cab fares from the current 3,800 won ($2.80) for the first 2 kilometers to 4,800 won for 1.6 kilometers. According to the outline of the plan, the basic fare of Seoul cabs would increase 26.3 percent, and

South Korean food company Daesang, famous for its Jongga kimchi brand, has launched a branch in Poland as a strategic European base to expand its business in the region. The Polish branch, established in Warsaw, is Daesang's second office in Europe since 1994, when it opened an office in the Netherlands. Daesang said that it has decided to expand its business in Europe amid growing interest in Korean food worldwide. Daesang currently operates in 21 countries including the US, China, Japan, Ind

Electronic components manufacturer LG Innotek said Thursday it has restructured its website to improve consumer experience and to maximize customer satisfaction. Visitors to the website can experience diverse contents ranging from technology, products, and recruitment information. Customers can subscribe to the company newsletter and may leave any questions they have about the company and its products. The most notable addition, according to the company, is the website’s new virtual show

South Korea’s state-funded Korea Water Resources Corp. hosted Wednesday a ceremony marking the completion of Chungju Dam’s third floating photovoltaic power plant at Chungju Lake located in the North Chungcheong Province. Floating photovoltaic power plants are installed on buoys that float on bodies of water. They inflict less damage to the surrounding environment, and the water acts as a natural coolant, increasing solar panel efficiency by 10 percent, according to experts. The Ch

Hyundai Heavy Industries Group’s refining affiliate Hyundai Oilbank said it has been bolstering efforts in developing next-generation energy, it said in a statement Wednesday. The refiner said it has been constructing a biodiesel production plant with an annual production capacity of 130,000 metric tons in Seosan, South Chungcheong Province, since last year, as part of its “White Bio” project. The plant is expected to be completed by 2023. White bio refers to carbon reduction

South Korean builder Daewoo E＆C is accelerating its overseas operations, gearing up to become a top global developer. To support Daewoo E＆C's efforts, Jungheung Group Vice Chairman Jung Won-ju, along with a business delegation, met with newly elected Philippines President Ferdinand Marcos Jr. earlier this month to discuss potential roles the construction company could play in developing the island nation’s infrastructure and real estate. Jungheung Group is the largest shareholder of Daewo

South Korean conglomerate LIG Group said Tuesday that it has delivered a 200 million won ($148,228) relief package to the Hope Bridge Korea Disaster Relief Association to aid flood victims. South Korea recently sustained heavy damages from torrential downpours in early August, leaving over 15,600 residential and retail properties flooded and 1,774 hectares of agricultural lands damaged. Twenty people were reported dead or missing, with over 7,850 people being displaced, according to the Central

Samsung Electronics revealed Monday a teaser which featured its new virtual alien avatar named G-Nusmas. According to Samsung’s video posted online, the small blue extraterrestrial invader, originally from a planet called Nowus-129, accidentally arrived on Earth through a crash landing. The alien’s name is Samsung spelt backwards, while the name of its home planet is a whimsical wordplay on the address of the company’s headquarters. The alien’s full background story wi

Fation, the cosmetics brand of Dong-A Pharmaceutical, said Friday it has launched its weak acid cleansing products – Nosca9 Cleansing Gel and Nosca9 Cleansing Water – to cater to customer demand for skincare products that counteract skin damage caused by wearing face masks in the summer’s heat and humidity. South Korea’s summers are notorious for being hot and humid. Humidity causes dust particles and other harmful substances to attach to the skin more readily, blocking

South Korean tiremaker Kumho Tire said Friday it has signed a memorandum of understanding with local auto retailer Van Korea on July 29 to accelerate the commercialization of its smart tire system. As part of the business agreement, the tire company will supply its “Majesty X Solus“ tires for the retailer’s Hyundai Carnival lineup, while also providing tire monitoring and sensing technologies. The tire company has been working with local communication firms to develop a smar

South Korean bio company Panacell Biotech said Wednesday it will start clinical trials to test the toxicity of natural killer cells, exosomes, and brown adiposed-derived stem cells when used to treat long COVID. Natural killer cells are immune cells that can kill tumor cells and cells infected with viruses. The biotech company said it can also be used to treat long COVID as well as other terminal illnesses. Long COVID symptoms span from migraines, hair loss, decreased libido and inflamed res

South Korean home appliance brand Coway said Wednesday that its second-quarter net profit rose 14.4 percent from a year earlier on the back of innovative product launches. The company logged 132.5 billion won ($101.7 million) in net profit between April and June, the company said. Operating profit went up 5.7 percent on-year to 176 billion won, while cumulative sales in 2022 increased 6.8 percent to 1.9 trillion won. Coway’s global operations also saw increased sales, with Coway‘

Dongsuh Foods Corp. has been incorporating new marketing strategies and diversifying its brewed coffee lineup to cater to diverse customers. The instant coffee giant said Tuesday it has launched a new promotional event called “Maxim Kanu Paddle Point,” starting July 30. Customers can earn points which can be cashed in for travel and picnic merchandise by purchasing select Maxim Kanu products. The event will last for two months. Meanwhile, Dongsuh Foods released its “Kanu Li

The possibility of getting an electric shock from a submerged electric vehicle is low, but drivers should never touch the battery of flooded cars, experts warned Tuesday. According to the Korea Transport Institute, EV batteries are designed to automatically cut off outgoing electricity if any water seeps into it. The battery then drains itself by sending electric currents back and forth between the two electrodes. Though it is highly unlikely one would get electrocuted by touching the vehicle

As golf becomes one of the most enjoyed leisure activities in South Korea, not only fashion companies but also others far from apparel business are launching luxury golfwear products, expanding the market size by value. According to the Korea Leisure Industry Institute, the value of the local golfwear industry, which was placed at 4.5 trillion won ($3.5 billion) in 2019, grew about 10 percent annually, despite ongoing COVID-19 restrictions. The market size was placed at 5.6 trillion won as of 2

Starting Sept. 1, the patent examination process for South Korean companies in France will become more streamlined, according to the Korea Intellectual Property Office. KIPO chief Lee Insil on July 14 signed a memorandum of understanding with her French counterpart, Pascal Faure, along the sidelines of the 63rd World Intellectual Property Organization General Assembly, held in Geneva, Switzerland between July 13 and 15, the office said Thursday. Under the deal, the two countries will establish a

Mercedes-Benz Korea issued an apology on Friday to a local customer who had accused the automaker of selling submerged cars. The company promised to exchange the vehicle in question. The luxury car brand came under fire on July 24 when the customer posted online that the person bought a submerged car from Mercedes-Benz and that the automaker refused to compensate. The unidentified customer said in the post: “Two weeks ago I bought a Mercedes-Benz GLS for 150 million won ($115,694) and

Global food container maker LocknLock said Thursday it has released its first-ever sustainability report, introducing the firm’s environmental, social and corporate governance-related strategies. In the report, the company said it will decrease electricity use by implementing renewable energy and high-efficiency power units in its domestic and international manufacturing facilities. The company hopes to replace 30 percent of its electricity consumption with green energy by 2031 and to ach

Despite enjoying increased sales from the ongoing “lunchflation,” fast food joints in South Korea have been raising their burger prices, citing surging production costs amid lingering inflation fears. Mom‘s Touch, a homegrown chicken chain, said Tuesday that it will raise the prices for 50 products by 200-400 won ($0.15-$0.31) starting Thursday. This is the second price hike by the burger joint this year alone. Mom’s Touch explained that the decision was made “w

Starbucks topped the list of the most preferred specialty coffee chains in South Korea, according to a recent survey published by the Korea Consumer Agency on Monday. In the survey, conducted between April 7 and 15, a total of 1,400 adults were requested to rate seven coffeehouses based on consumer satisfaction and frequency of use. Starbucks scored the highest at 3.99 points out of the total 5, followed by The Coffee Bean & Tea Leaf with 3.93 points and Hollys Coffee with 3.92 points.