SEOUL, Aug. 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it has received an order from Volkswagen AG to supply a core electric vehicle component for the German carmaker’s EV platform. In the “large-scale” supply deal, Hyundai Mobis will supply battery supply assembly (BSA) parts to Volkswagen, which [...]
SEOUL, Aug. 9 (Korea Bizwire) – The government will establish new legal provisions to seek stern punishment for people caught writing online murder threats or carrying weapons in public places, the Ministry of Justice said Wednesday, amid a recent surge in social media posts threatening random stabbing attacks. The ministry said it will push to [...]
SEOUL, Aug. 9 (Korea Bizwire) — K-pop girl group BLACKPINK has been nominated for four categories of the 2023 MTV Video Music Awards, the U.S. music channel has announced. The group will compete for Best Choreography, Best Art Direction, Best Editing and Best K-pop with its hit song “Pink Venom,” MTV said Tuesday (U.S. local [...]
SEOUL, Aug. 9 (Korea Bizwire) – K-pop boy group NCT will return with all members later this month, dropping its fourth studio album, the group’s agency said Wednesday. “Golden Age” will hit music services on Aug. 28, SM Entertainment said. It will mark the first LP from the group in the one year and eight [...]
SEOUL, Aug. 9 (Korea Bizwire) – South Korea will participate in a working group tasked with implementing a peace plan proposed by Ukrainian President Volodymyr Zelenskyy, a presidential official said Wednesday. The decision came while National Security Adviser Cho Tae-yong was visiting Saudi Arabia last weekend to take part in multinational peace talks concerning Ukraine. [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s industrial ministry said Wednesday it plans to offer a second batch of low-interest loans worth 150 billion won (US$113.6 million) to support nuclear energy firms, which suffered an earnings cut following the previous administration’s nuclear phaseout policy. The loan program was initiated in response to the declining [...]
SEOUL, Aug. 9 (Korea Bizwire) – SK bioscience Co., a pharmaceutical affiliate under South Korea’s SK Group, said Wednesday it has purchased 6.5 million shares in the U.S.-based biotechnology company Novavax Inc. for 110 billion won (US$83.4 million). With the stock purchase, SK bioscience will hold a 6.5 percent share in Novavax, according to the [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s on-year job growth slowed for the fourth consecutive month in July, with the fewest number of jobs being added in 29 months, data showed Wednesday, amid sluggish employment in the manufacturing and construction sectors. The number of employed people came to 28.68 million in July, up around [...]
SEOUL, Aug. 9 (Korea Bizwire) — Coupang Inc. said Wednesday it swung to a net profit in the second quarter from a year earlier on improved profitability of its flagship product commerce business. South Korea’s top e-commerce retailer shifted to a net profit of US$145.2 million in the April-June period from a net loss of [...]
SEOUL, Aug. 9 (Korea Bizwire) – South Korea’s agricultural ministry said Wednesday it plans to expand the size of the pet industry to 15 trillion won (US$11.47 billion) by 2027 amid the growing number of households with dogs or cats. The target marks a sharp rise from just 8 trillion won tallied in 2022, according [...]