Li Sheung Kin to retire as Chief Executive Officer, Sompo Hong Kong; Alasdair Walker appointed as successor HONG KONG, June 24, 2025 (Korea Bizwire) – Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance, today announced leadership changes to its Commercial P&C Insurance business in Hong Kong. Li Sheung Kin (S.K.) [...]
SEOUL, June 24 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-largest refiner by sales, said Tuesday it is considering producing biofuel by recycling waste from palm oil mills in Indonesia. The initiative, which also aims to cut greenhouse gas emissions, involves using palm oil mill effluent (POME) to produce bio-based raw materials while reducing [...]
SEOUL, June 24 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will hold its next Galaxy Unpacked event in New York next month to unveil the latest Galaxy Z series smartphones featuring advanced artificial intelligence (AI) and an ultra-slim foldable design. The event will take place in Brooklyn, New York, at 10 a.m. on [...]
SEOUL, June 24 (Korea Bizwire) — Hyundai Engineering & Construction (E&C) Co. said Tuesday it has signed an early works agreement (EWA) with Finland’s state-owned energy company Fortum and U.S. nuclear firm Westinghouse to jointly pursue the construction of a new nuclear power plant in Finland. The agreement, signed last week at Fortum’s headquarters in [...]
SEOUL, June 24 (Korea Bizwire) — SK hynix Inc. plans to build a new semiconductor back-end process facility in central South Korea to enhance its chip-packaging capabilities, industry sources said Tuesday. According to the sources, the company announced in an internal posting that it will demolish an existing building at its factory site in Cheongju, [...]
SEOUL, June 24 (Korea Bizwire) — South Korea will launch an educational exchange program inviting students and faculty members from major American universities starting next year to receive short-term training in shipbuilding engineering, Seoul’s trade ministry said Tuesday. The initiative comes as the two countries seek to deepen cooperation in the shipbuilding sector, which has [...]
SEOUL, June 24 (Korea Bizwire) — As inflation continues to pressure South Korean consumers, a new wave of subscription price hikes across major streaming platforms—dubbed “streamflation”—is intensifying household budget strain and fueling public backlash. Netflix Korea recently raised its ad-supported standard plan from 5,500 won to 7,000 won per month and its basic plan from [...]
SEOUL, June 24 (Korea Bizwire) — The state arms procurement agency has successfully conducted the first flight of a new helicopter prototype aimed at conducting mine countermeasure operations, officials said Tuesday, in a move expected to bolster the country’s maritime security capabilities. The flight took place earlier this month, following a ground test in March [...]
SEOUL, June 24 (Korea Bizwire) — Nearly a century after it was taken to Japan, a wooden building believed to be a royal shrine from the Joseon Dynasty has returned to its homeland—marking an unprecedented moment in Korea’s effort to reclaim its cultural heritage. The Korea Heritage Service (KHS) and the Overseas Korean Cultural Heritage [...]
SEOUL, June 24 (Korea Bizwire) — In a quiet but meaningful shift reflecting South Korea’s evolving social fabric, the Supreme Court announced Tuesday that a Korean national and their foreign spouse can now register their child’s birth using names of any length—ending a long-standing restriction that effectively barred lengthy names from appearing in official records. [...]