SEOUL, March 6 (Korea Bizwire) – SK Innovation Co., the country’s top oil refiner, said Monday that its board of directors has approved a proposal to double the company’s electric vehicle (EV) battery production capacity, in order to meet growing demand. The proposal calls for the construction of two EV battery production lines, which will [...]
SEOUL, March 6 (Korea Bizwire) – Sales of South Korea’s online shopping malls rose dramatically in recent months helped by the growing number of Chinese customers, data showed Monday, amid China retaliating against South Korea over Seoul’s plans to deploy an advanced U.S. missile defense system on its soil. China has been retaliating against Seoul’s [...]
SEOUL, March 6 (Korea Bizwire) – The Kia Soul continued to remained one of the best-selling cars made by South Korea’s No. 2 automaker in overseas markets last year, despite its dwindling popularity at home, industry data showed Monday. In 2016, 168,159 units of the car were shipped overseas, more than 70 times higher than [...]
SEOUL, March 6 (Korea Bizwire) – North Korea on Monday fired four ballistic missiles into the East Sea, Seoul’s Joint Chiefs of Staff said, in an apparent reaction to the ongoing joint military drills between South Korea and the United States. The four projectiles were launched from an area near the North’s Dongchang-ri long-range missile [...]
SEOUL, March 3 (Korea Bizwire) – Rumors surrounding the recent assassination of Kim Jong-nam, North Korean leader Kim Jong-un’s half brother, in Malaysia are quickly spreading by mouth in the North Korean capital of Pyongyang, the leader of a group of North Korean defectors here said Friday. “Pyongyang citizens are in a rage as the [...]
SEOUL, March 3 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, traded at a 52-week high on Friday on simmering expectations that the shipbuilding sector is on a recovery track and its plan to spin off non-shipbuilding businesses may boost its competitiveness. Hyundai Heavy closed at 167,500 won (US$146) on the Seoul [...]
SEOUL, March 3 (Korea Bizwire) – South Korea’s tourism industry is on alert as China has set out to prevent its people from traveling to Korea in protest against Seoul’s deployment of a high-tech U.S. anti-missile battery, industry sources said Friday. On Thursday, Beijing told major travel agencies in the country to stop selling tours [...]
SEOUL, March 3 (Korea Bizwire) – South Korea should reduce its reliance on the U.S. economy and push to galvanize domestic demand as the world’s No. 1 economy is expected to continue its slow growth down the road, a state think tank said Friday. In a report on the future of the U.S. economy, the [...]
SEJONG, March 3 (Korea Bizwire) – A revised bill to Korea’s aviation security law was passed on Thursday, after rising concerns over an increasing number of air rage incidents on flights to and from Korea, an initiative that specifies legal punishment for those violating the law. Punishment for air rage assaults that threaten the safety [...]
SEJONG, March 3 (Korea Bizwire) – Apartment security guards in South Korea now have legal grounds to refuse work they’re not officially required to do. These guards, largely comprised of elderly post-retirees, have frequently been pushed by apartment residents to run errands that were not typically required of them, and had to put up with [...]