SEOUL, May 15 (Korea Bizwire) — Hyundai Motor Co. said Thursday it has broken ground on a production plant in Saudi Arabia, the company’s first manufacturing base in the Middle East, marking a key milestone for the company’s global expansion. A groundbreaking ceremony for Hyundai Motor Manufacturing Middle East (HMMME) was held Wednesday (local time) [...]
SEOUL, May 15 (Korea Bizwire) — The country’s financial watchdog said Thursday that it will prod financial firms to manage their incentive systems in a proper and reasonable manner. The Financial Supervisory Service (FSS) said incentive systems can carry risks if not properly managed, which also can hurt financial institutions’ soundness as well as the [...]
SEOUL, May 15 (Korea Bizwire) — Assisting senior citizens in liquidating their assets is essential to addressing elderly poverty, which, in turn, may help boost local spending, the chief of South Korea’s central bank said Thursday. Bank of Korea (BOK) Gov. Rhee Chang-yong made the point during a symposium co-hosted by the BOK and state-run [...]
SEOUL, May 15 (Korea Bizwire) — U.S. Trade Representative (USTR) Jamieson Greer was scheduled to meet with the chief executive officers (CEOs) of HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., South Korea’s leading shipbuilders, on the sidelines of an Asia-Pacific Economic Cooperation (APEC) trade ministers’ meeting this week, industry sources said Thursday. Greer [...]
SEOUL, May 15 (Korea Bizwire) — LG Electronics Inc. Chief Executive Officer (CEO) Cho Joo-wan said Thursday his company is expanding its focus on business opportunities in emerging markets across Southeast Asia, South America and Africa. “The global economy is entering a new era — shaped by rapid technological and geopolitical changes,” Cho wrote in [...]
The following is an extract from the “Iveco Group 2025 First Quarter Results” press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF: The Company responded decisively to market downturn and laid strong foundations for future growth. Full year guidance confirmed [...]
PHOENIX, May 14, 2025 (Korea Bizwire) – WillScot Holdings Corporation (“WillScot” or the “Company”) (Nasdaq: WSC), a leader in innovative temporary space solutions, today announced that it will participate in the following investor conferences in the upcoming month: Stifel Cross Sector Insights Conference Date: June 3, 2025 Location: Boston, Massachusetts Baird Global Consumer, Tech & [...]
JEJU, May 14 (Korea Bizwire) — As food delivery fees and dining costs continue to climb, consumers in South Korea’s Jeju Province are turning in growing numbers to Meokkaebi, a government-backed public delivery app offering lower prices and incentives. According to provincial officials on Wednesday, monthly orders on Meokkaebi surged to 62,546 in April 2025, up 431% [...]
ULSAN, May 15 (Korea Bizwire) — The South Korean Navy is exploring new frontiers in modern warfare by testing civilian drones and uncrewed surface vessels (USVs) for potential military applications during a large-scale exercise conducted off the coast of Ulsan this week. For five days starting May 12, the Navy launched its first training program focused on [...]
SEOUL, May 15 (Korea Bizwire) — LG Group has opted not to hold its annual mid-year strategy briefing in 2025, a significant shift in its traditional executive agenda as the conglomerate pivots toward accelerating the implementation of its long-term plans amid heightened global uncertainty. According to industry sources on Wednesday, LG Chairman Koo Kwang-mo, who [...]