SEOUL, Dec. 24 (Korea Bizwire) — A recent survey revealed that over half of Korean startups anticipate adverse effects on their businesses from the policies of Donald Trump’s second presidential term. The findings highlight concerns over protectionism, supply chain nationalism, and currency fluctuations. According to a poll conducted by the Korea Venture Business Association (KOVA) of [...]
SEOUL, Dec. 23 (Korea Bizwire) — In 2024, South Korea’s import car market has shifted from its traditional “Big Four” structure to a “Big Three,” driven by Tesla’s remarkable sales growth. BMW and Mercedes-Benz continued their rivalry for the top spot, while Tesla secured third place for the first time with sales nearly doubling from 2023. [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s manufacturing and export sectors, the backbone of its economy, are bracing for significant challenges in early 2025 due to rising global trade tensions and domestic political instability. Concerns are growing over protectionist policies from major economies, particularly under the incoming Trump administration, and a leadership void in [...]
SEOUL, Dec. 23 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Monday it has reached an agreement with Qualcomm Technologies Inc. to jointly accelerate the commercialization of system-on-chip-based battery management system (SoC-based BMS) diagnostic solutions. Under the agreement, LGES’ new advanced BMS software will be made available on the [...]
SEJONG, Dec. 23 (Korea Bizwire) — The government is set to swiftly deploy additional market stabilization measures, including the injection of the second phase of value-up funds worth 300 billion won (US$207 million) into the country’s stock market, Finance Minister Choi Sang-mok said Monday. Choi made the remarks during an emergency meeting with top economic and financial [...]
TOKYO/SEOUL, Dec. 23 (Korea Bizwire) – Fourteen years after the Fukushima Daiichi nuclear disaster, radioactive contamination remains a serious issue for wild mushrooms harvested in eastern Japan, according to a report by Tokyo Shimbun on December 22. A recent investigation by a local citizens’ group revealed that 28% of 100 wild mushroom samples sourced from [...]
SEOUL, Dec. 23 (Korea Bizwire) – A record number of vehicles have been recalled in South Korea this year due to manufacturing defects, according to data released by the Korea Transportation Safety Authority’s Auto Recall Center on December 22. The center reported that 5,142,988 vehicles across 1,684 models underwent recalls in 2024, tripling last year’s figure [...]
SEOUL, Dec. 22 (Korea Bizwire) – The Kia Carnival has set a new annual sales record in its 26-year history, thanks to surging demand for its hybrid model. Kia announced on December 22 that the Carnival’s global sales from January to November reached 157,336 units, surpassing the previous high of 155,433 units set in 2002. With [...]
SEOUL, Dec. 22 (Korea Bizwire) – Kia has globally debuted its compact SUV, Syros, in India, marking a significant step in its strategy to expand its presence in emerging markets, the company announced on December 22. Named after the Greek island of Syros, the vehicle aims to embody a blend of tradition and modernity. Sales of [...]
SEOUL, Dec. 21 (Korea Bizwire) – The financial strain on South Korea’s working class has driven card loan balances to an all-time high, reflecting worsening economic conditions for vulnerable populations. As of November 2024, the total card loan balance across nine major card companies, including Lotte, BC, Samsung, Shinhan, and KB Kookmin, reached a record 42.54 [...]