SEOUL, Dec. 5 (Korea Bizwire) — South Korean e-commerce giant Coupang is facing intensifying scrutiny after a major data leak revealed that significant portions of its Korean-language service were built and maintained by foreign developers, including sizable teams based in China. The primary suspect in the breach is a former Chinese employee who worked on the [...]
SEOUL, Dec. 4 (Korea Bizwire) — Song Chang-hyeon, head of Hyundai Motor Group’s Advanced Vehicle Platform (AVP) division and chief executive officer (CEO) of the group’s software research arm 42dot, has tendered his resignation amid a lack of progress in next-generation vehicle technologies, industry sources said Thursday. In a message sent to 42dot employees on [...]
SEOUL, Dec. 4 (Korea Bizwire) — LG Electronics convened a workshop in Seoul on Thursday with the Eclipse Foundation and major global automakers to accelerate the development of open-source software for software-defined vehicles (SDVs), part of the company’s broader push to expand its automotive solutions business. The event — the Eclipse SDV Community Meetup — brought [...]
SEOUL, Dec. 4 (Korea Bizwire) — The fallout from Coupang Inc.’s massive data breach is beginning to hit small businesses that depend heavily on the platform, with some vendors reporting sharp declines in sales and mounting anxiety about long-term damage, industry officials said Thursday. Last week, the U.S.-listed e-commerce giant disclosed that the personal information of [...]
SEOUL, Dec. 4 (Korea Bizwire) — Global electric-vehicle registrations topped 17 million in the first ten months of 2025, rising 25.5 percent from a year earlier despite widening divergences in regional demand and policy environments, according to new data released Wednesday by market research firm SNE Research. Worldwide EV sales — including plug-in hybrids — reached [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s major business lobby warned that companies may face nearly 27 trillion won (US$20.4 billion) in carbon-credit purchasing costs over the next five years under the government’s newly announced emissions trading allocation plan. The climate ministry swiftly rejected the estimate, calling it an exaggerated projection based on flawed assumptions. [...]
SEOUL, Dec. 3 (Korea Bizwire) — Korean Air Co. and Hyundai Rotem Co. said Wednesday they will jointly develop a reusable 35-ton-class methane rocket engine — a core technology for next-generation launch vehicles — by October 2030 under a government-backed 49 billion-won (US$33 million) program. Under the program, overseen by the Korea Research Institute for [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korea’s Hyundai Motor Group said Wednesday it has unveiled its first mass-produced mobility robot platform, designed for various industrial and everyday applications, at a major robotics exhibition in Japan. The group, whose major affiliates include Hyundai Motor Co. and Kia Corp., showcased the Mobile Eccentric Droid (MobED) at [...]
SEOUL, Dec. 3 (Korea Bizwire) — A majority of South Korean companies that repurchased their own shares over the past five years did so under the banner of “enhancing shareholder value,” but most of those shares were ultimately used to protect management control or meet internal financial needs, not to benefit investors, according to new [...]
SEOUL, Dec. 3 (Korea Bizwire) — Seoul’s luxury housing market posted one of the world’s sharpest price increases over the past year, rising more than 25 percent and ranking second among major global cities, according to new data released Tuesday. In its latest Prime Global Cities Index, British property consultancy Knight Frank reported that prices for [...]