SEOUL, Jan. 29 (Korea Bizwire) — A surge in global gold prices is prompting South Korean pharmaceutical companies to rethink a long-standing workplace tradition: rewarding long-serving employees with gold. As bullion prices climb to record highs, several drugmakers have begun replacing gold gifts with cash bonuses, citing sharply rising costs. Industry officials said the shift reflects [...]
SEOUL, Jan. 28 (Korea Bizwire) — The number of registered vehicles in Seoul declined for a third consecutive year in 2025, making the capital the only region in South Korea to record a sustained drop, even as registrations of environmentally friendly cars climbed sharply, city officials said Wednesday. According to an analysis released by the Seoul [...]
SEOUL, Jan. 28 (Korea Bizwire) — Labor unrest is intensifying at GM Korea as the automaker presses ahead with plans to shut down its company-run repair centers, prompting protests, legal action and growing concerns over disruptions to customer service. The dispute centers on GM Korea’s decision, announced last year, to close all nine of its directly [...]
SEOUL, Jan. 28 (Korea Bizwire) – Canadian coffee chain Tim Hortons said Wednesday it will more than double the number of its outlets in South Korea to 50 this year, focusing on localization to grow in Asia’s fourth-largest economy. Tim Hortons currently operates 24 outlets in Seoul and nearby metropolitan areas after entering the Korean [...]
SEOUL, Jan. 28 (Korea Bizwire) — Kia on Wednesday began taking orders for three derivative versions of its electric purpose-built vehicle, the PV5, as the automaker moves to expand its push into specialized mobility and commercial transport. The models are part of Kia’s broader strategy to develop purpose-built vehicles, or PBVs — electric platforms designed for [...]
SEOUL, Jan. 28 (Korea Bizwire) — LG Electronics has opened a permanent experience space for its modular housing concept, the LG Smart Cottage, aiming to tap into emerging lifestyle trends and the fast-growing modular construction market. The company said Wednesday that visitors can now stay overnight in Smart Cottage units at Juksan Morak, a newly launched [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korea’s antitrust regulator is moving to tighten disclosure rules for franchise operators, requiring them to provide prospective store owners with clearer and more detailed information about business risks before contracts are signed. The Fair Trade Commission said Wednesday that it has begun the legislative and administrative process to revise [...]
SEOUL, Jan. 28 (Korea Bizwire) — China’s largest electric-vehicle maker, BYD, is aiming to significantly expand its presence in South Korea this year, setting a sales target of more than 10,000 vehicles as it accelerates its push into one of Asia’s most competitive auto markets. BYD Korea said Tuesday that it plans to enter the “10,000-unit [...]
SEOUL, Jan. 27 (Korea Bizwire) — Public criticism of Coupang, South Korea’s dominant e-commerce platform, is intensifying, spreading beyond small merchants to consumer, labor and civic groups, as concerns mount over corporate power, data security and the company’s ties to U.S. political influence. The backlash has grown sharper since a large-scale personal data breach last year, [...]
SEOUL, Jan. 27 (Korea Bizwire) – Finance Minister Koo Yun-cheol said Tuesday the government will expand discount support for everyday items for the Lunar New Year holiday and supply more than 39 trillion won (US$26.94 billion) in funds for the self-employed and small businesses. Koo made the remarks at a Cabinet meeting presided over by [...]