SEOUL, Dec. 9 (Korea Bizwire) – Rising exchange rates could push South Korea’s already elevated food prices even higher next year, experts warn, as the country’s heavy reliance on imported food ingredients makes it particularly vulnerable to currency fluctuations. The won has weakened significantly against the dollar in recent weeks, with the exchange rate breaking through 1,400 [...]
SEOUL, Dec. 9 (Korea Bizwire) — Three South Korean electric vehicle battery makers saw their combined global market share fall from a year earlier in the first 10 months of 2024 amid robust growth of Chinese rivals, industry data showed Monday. The trio — LG Energy Solution, SK On Co. and Samsung SDI Co. — [...]
SEOUL, Dec. 9 (Korea Bizwire) – As nationwide protests criticizing President Yoon Suk Yeol’s declaration of martial law gain momentum, a wave of innovative, community-driven acts is capturing attention. Among them, citizens and students are pre-paying for food and drinks—such as coffee, rice rolls, and soups—at nearby shops to support fellow demonstrators. Social media platforms [...]
SEOUL, Dec. 9 (Korea Bizwire) — South Korea’s pharmaceutical giant Celltrion Inc. said Monday that it has received approval from Canadian health authorities for a biosimilar treatment for allergic asthma. The company said that its biosimilar, Omlyclo, a version of Xolair, has been approved by Health Canada, adding that studies have demonstrated its equivalent performance [...]
SEOUL, Dec. 9 (Korea Bizwire) – In a significant pivot toward the world’s most populous nation, South Korean corporate powerhouses are intensifying their focus on India, seeing it as both an antidote to their China-dependent supply chains and a promising frontier for growth. Companies like Samsung Electronics, LG Electronics, and Hyundai Motor are expanding their footprint [...]
MELBOURNE, Australia, Dec. 8 (Korea Bizwire) — Fluence Energy, Inc. (“Fluence” or the “Company”) (NASDAQ: FLNC), a global market leader delivering intelligent energy storage, operational services, and asset optimization software, and project partners Eku Energy, Shell Energy, and Perfection Private, have officially opened the 200 MW / 400 MWh Rangebank Battery Energy Storage System (BESS) [...]
HO CHI MINH CITY, Vietnam, Dec. 9 (Korea Bizwire) — Cake Digital Bank, Vietnam’s pioneering digital bank, announced it has achieved a remarkable milestone, becoming the first digital-only bank in Vietnam to attain profitability merely 3.5 years after its inception. This underscores Cake’s profound impact on Vietnam’s financial sector as it redefines banking for tech-savvy, [...]
SEOUL, Dec. 9 (Korea Bizwire) — Prosecutors questioned former Defense Minister Kim Yong-hyun for the third round on Monday on treason charges related to President Yoon Suk Yeol’s martial law declaration last week. The special prosecution investigation team handling the case brought Kim in for questioning Monday morning on treason, abuse of power and other [...]
SEOUL, Dec. 9 (Korea Bizwire) — Police said Monday they are reviewing whether to impose a travel ban on President Yoon Suk Yeol to investigate him over treason and other charges related to his short-lived declaration of martial law last week. Yoon has been booked as a suspect in investigations by both the police and [...]
SEOUL, Dec. 9 (Korea Bizwire) — Civic groups were set to stage another candlelight vigil near the National Assembly on Monday to call for the impeachment of President Yoon Suk Yeol over last week’s botched martial law declaration. The rally, led by the Korean Confederation of Trade Unions (KCTU), one of the largest umbrella labor [...]