SEOUL, Dec. 16 (Korea Bizwire) — South Korea’s national space agency said Tuesday it is exploring the use of SpaceX’s next-generation Starship rocket to launch the country’s first Mars payload as early as 2030, part of a broader strategy to accelerate its participation in international deep-space exploration. At a briefing in Seoul, the Korea Aerospace Administration [...]
SEOUL, Dec. 16 (Korea Bizwire) — Hyundai Steel and POSCO are moving forward with plans to build a large-scale electric arc furnace (EAF) steel mill in Louisiana, targeting commercial operation in 2029, as South Korean steelmakers expand production in the United States to meet automakers’ growing local supply needs. The companies announced on Tuesday that [...]
LOS ANGELES, Dec. 16 (Korea Bizwire) — Hyundai Motor and Kia will install enhanced anti-theft devices on more than 4 million vehicles in the United States, agreeing to sweeping remedial measures after a multistate investigation found their cars were particularly vulnerable to theft. According to Reuters, the automakers reached a settlement with attorneys general from 35 [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean companies’ earnings recorded a 20 percent on-year gain in 2024 on increased exports of semiconductors, government data showed Tuesday. The combined before-tax net profit of South Korean companies reached 181.9 trillion won (US$123.9 billion) last year, up 20.6 percent from 150.8 trillion won tallied in 2023, according [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korea said Tuesday it will invest at least 4.5 trillion won (US$3.06 billion) to secure overseas logistics hubs as part of an effort to shore up exporters’ supply chains and reduce reliance on foreign-owned facilities. The Ministry of Oceans and Fisheries laid out the plan during a ministerial [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korea and the United Kingdom signed an upgraded free trade agreement aimed at easing rules of origin for Korean exporters and expanding access to Britain’s high-speed rail and digital services markets, Seoul’s trade ministry said Tuesday. The deal, signed in London by Korean Trade Minister Yeo Han-koo and [...]
SEOUL, Dec. 16 (Korea Bizwire) — A surge of South Koreans are scrambling to determine whether their personal information is circulating on the dark web following Coupang’s massive data leak, newly released government data shows. According to figures submitted by the Korea Internet & Security Agency (KISA) to Rep. Lee Jeong-heon of the Democratic Party, users [...]
SEOUL, Dec. 15 (Korea Bizwire) — Korea Zinc, one of the world’s largest nonferrous metals producers, will invest nearly 11 trillion won (US$7.4 billion) to build a large-scale integrated smelter in Tennessee, a project backed by both the U.S. government and American corporate partners as Washington races to counter China’s tightening control over strategic mineral exports. [...]
SEOUL, Dec. 15 (Korea Bizwire) —Korean Air Co. said Monday it will adopt a zero tolerance policy toward passengers who tamper with aircraft emergency exits, warning that it will seek criminal charges against violators to strengthen aviation safety. The country’s flag carrier said it is responding to a rise in such incidents, which pose a [...]
SEOUL, Dec. 15 (Korea Bizwire) — The government said Monday that sales of state-owned assets worth 30 billion won (US$20.3 million) will require mandatory prior reporting to the relevant standing committee of the National Assembly, amid concerns that public assets are being sold at undervalued prices. Under the measures announced by the Ministry of Economy [...]