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Reporter : Kim Jae-heun
Mon, May 29, 2023 | 17:50
Korea's internet speed ranking falls to 34th: report
Korea's competitiveness in high-speed internet infrastructure, which used to be rated as one of the world's fastest just few years ago, was found to have fallen to 34th, according to recent data, Tuesday. Ookla's internet speed measuring site “Speedtest” said its data showed Korea's average high-speed internet downloading speed was recorded at 171.12 Mega bit per second (Mbps...
Yogiyo launches quick commerce service with GS Retail
Local online food delivery player Yogiyo launched a quick commerce service called “Yo-Convenience Store” in collaboration with GS Retail, the company said Tuesday. With the new delivery service, a customer can receive any item sold at GS25, GS Retail's convenience store brand, in the country within one hour.
E-commerce firms enter new businesses to ride out economic downturn
Local e-commerce firms such as Woowa Brothers, Kurly and Daangn Market are offering new products and services to secure new revenue streams amid the deepening economic downturn, according to company officials Monday.
Hyundai Motor decides to sell only EVs in Norway this year
Hyundai Motor has decided to sell only electric vehicles (EVs) in Norway this year, the company said Sunday. As global automobile markets have been rapidly reorganizing and are centering on electric cars, Korea's largest automaker is seeking to test its EV-only sales strategy in the Norwegian market.
Retailers go all out to embrace Gen Z
Local retailers are making various efforts to win the hearts of Generation Z consumers, or people born from 1997 onward, according to company officials Sunday. The companies seek to refocus their marketing strategies to target the group, which is leading the latest consumer trends. Many retailers, such as GS Retail and Lotte Mart, are seeking collaborations with university st...
Samyang Foods to expand overseas business
Samyang Foods will establish new departments dedicated to overseas sales and logistics to strengthen its global business in 2023, as part of its goal to become a top 100 food firm in the world. The company shared its medium and long-term vision at its business management conference held at its headquarters in Seoul, Wednesday.
Food firms introduce more products for seniors
Local food companies are introducing more products that are easy to chew and digest for elderly consumers amid the rapidly aging population and falling birthrate, according to industry officials Thursday. Lotte Confectionery, which closed its baby food business in October, plans to enter the senior-friendly food sector.
Luxury brands expand range of children's products in Korea
The children-focused products of international luxury brands such as Burberry, Moncler and Dior are enjoying growing popularity, as parents here are opening their wallets without hesitation for their children, according to industry officials Wednesday.
Eased regulations on major retail stores to intensify competition with e-commerce firms
As Daegu Metropolitan City announced its plan to allow major retail stores to stay open on weekends, the city governments of Daejeon and Gwangju also began reviewing the possibility of adopting the same policy. The government is also positively discussing ways to allow the stores to continue overnight delivery services on a daily basis including Sundays.
Korea starts operation of first autonomous buses
The country's first self-driving buses will start operating on a 22.4-kilometer route between Sejong Intercity Bus Terminal and Osong Station in Cheongju, North Chungcheong Province, the Ministry of Land, Infrastructure and Transport said Tuesday.