SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s customs authorities on Thursday announced plans to reduce paperwork requirements and speed up the customs clearance process for imports, a move aimed at lessening regulatory burdens on local businesses. Under a revised law currently undergoing administrative notice, procedures for re-importing returned goods will be simplified, according to [...]
SEOUL, Nov. 20 (Korea Bizwire) — SK Telecom has decided not to accept a government-recommended settlement that would require the company to pay 300,000 won (about US$220) to each victim of a major personal-data breach, a move that could expose the telecom giant to prolonged civil litigation. According to industry officials on Nov. 20, the company [...]
SEOUL, Nov. 20 (Korea Bizwire) — Once a nostalgic winter street snack sold from roadside carts, bungeoppang — Korea’s fish-shaped pastry filled traditionally with sweet red bean — is fast becoming a breakout product in the global bakery market, buoyed by advances in frozen food technology and the worldwide rise of Korean pop culture. According to [...]
SEOUL, Nov. 20 (Korea Bizwire) — POSCO International is deepening its push into the global biofuel market with a sweeping expansion of its palm oil business, announcing a major acquisition in Indonesia alongside the completion of a new refinery jointly built with GS Caltex. The company said on Nov. 20 that it has acquired a controlling [...]
SEOUL, Nov. 20 (Korea Bizwire) — LG Electronics said on Nov. 20 that it has signed a patent licensing agreement with Amazon covering the use of LG’s Wi-Fi standard-essential patents (SEPs) in the U.S. tech giant’s consumer devices, marking a significant step in the Korean company’s push to monetize its intellectual property portfolio. Under the agreement, [...]
SEOUL, Nov. 20 (Korea Bizwire) – Krafton Inc. has claimed that former leadership of its U.S. subsidiary Unknown Worlds was negligent in developing the survival game Subnautica 2, leading to delays that triggered a legal dispute in the United States, company officials said Thursday. Krafton Chief Executive Officer (CEO) Kim Chang-han filed such a claim [...]
SEOUL, Nov. 20 (Korea Bizwire) – GS Caltex Corp., South Korea’s second-largest refiner by sales, said Thursday it has completed construction of a major palm oil refining facility in Indonesia, as the company expands its presence in the Asian biofuel market. An opening ceremony for the facility, named AGPA Refinery Complex (ARC), located in an [...]
SEOUL, Nov. 20 (Korea Bizwire) — The world’s top women golfers will return next year to Haenam, a coastal town at South Korea’s southernmost tip, as the LPGA Tour unveiled its 2026 schedule with a record-setting prize pool. The LPGA announced on Nov. 20 (Korea time) that the BMW Ladies Championship will once again be held [...]
SEOUL, Nov. 20 (Korea Bizwire) — South Korean autonomous-driving startup Autonomous A2Z has established a joint venture in Abu Dhabi with Space42, an Emirati AI and space-technology company, as the two countries expand cooperation in advanced mobility during President Lee Jae-myung’s state visit to the United Arab Emirates. The companies announced the partnership on Nov. 19 [...]
SEOUL, Nov. 20 (Korea Bizwire) — Kia’s new electric commercial vehicle, the PV5, has been named the 2026 International Van of the Year (IVOTY), marking the first time a Korean brand — and the first time an Asian electric light commercial vehicle — has captured the industry’s most prestigious award. Kia announced on Nov. 20 that [...]