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Archive by category Industrial Innovation

HD Hyundai Advances Hydrogen Commercialization with Breakthrough in Shipboard Liquid Hydrogen Tanks

SEOUL, Jan. 15 (Korea Bizwire) — HD Hyundai has made significant strides in accelerating hydrogen commercialization by successfully developing shipboard liquid hydrogen tanks and vacuum insulation technology. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding division, announced on January 13, 2025, that it has received Approval in [...]

S. Korea Begins Upgrade of 4,400-ton Destroyers with Homegrown Technology

SEOUL, Jan. 15 (Korea Bizwire) — The state arms procurement agency has kicked off a project to renovate the Navy’s 4,400-ton warships with homegrown technology for enhanced efficiency in operating the fleet, officials said Wednesday. A meeting to discuss details of the upgrade for the Chungmugong Yi Sun-sin-class destroyers took place at the office of [...]

S. Korea Launches Annual Winter Shopping Festival to Attract Foreign Tourists

SEOUL, Jan. 15 (Korea Bizwire) — South Korea kicked off its annual winter shopping festival Wednesday, a 45-day nationwide event aimed at drawing foreign tourists and boosting spending during the tourism off-season. The Korea Grand Sale, running through Feb. 28, features discounts across flights, accommodations, and retail sectors, according to the Ministry of Culture, Sports [...]

S. Korea-China Route Container Shipping Cost Falls in Dec.

SEJONG, Jan. 15 (Korea Bizwire) — Container shipping costs from South Korea to China decreased in December compared with a month earlier, reversing the upward trend, the customs agency said Wednesday. The average shipping cost for a 40-foot container from South Korea to China fell 1.1 percent from a month earlier to 8 million won [...]

Gyeonggi Province Unveils 172.1 Billion Won Plan for Livestock Waste Management

SEOUL, Jan. 15 (Korea Bizwire) — Gyeonggi Province has announced a comprehensive five-year plan worth 172.1 billion won to transform livestock waste management, focusing on resource recycling and environmental sustainability. The plan outlines 14 practical initiatives across three major areas: promoting eco-friendly scientific farming practices, diversifying waste recycling methods, and improving public perception of livestock waste [...]

iPhone Subsidies Hit Record High as Samsung Galaxy 25 Launch Looms

SEOUL, Jan. 14 (Korea Bizwire) — A notable shift in South Korea’s mobile phone market has seen carriers KT and LG Uplus significantly increase subsidies for the iPhone 16 series, influenced by the upcoming release of Samsung’s Galaxy S25 and the abolition of the Mobile Device Distribution Act. Some premium plan subscribers can now obtain even [...]

Gov’t Tightens Safety Measures on Imported Cosmetics Amid Rising Overseas Purchases

SEOUL, Jan. 14 (Korea Bizwire) — In response to the growing trend of direct overseas purchases of cosmetics through international online platforms, South Korea’s Ministry of Food and Drug Safety (MFDS) announced on Monday, that it will strengthen safety regulations to prevent consumer harm. This initiative will be carried out in collaboration with the Korea [...]

Shift in Korea-China Trade Dynamics Signals Intensifying Competition

SEJONG, Jan. 13 (Korea Bizwire) — South Korea’s export landscape with China has undergone a significant transformation over the past decade, with traditional intermediate goods exports such as displays, computers, auto parts, steel sheets, and petroleum products sharply declining. Conversely, South Korea’s imports of Chinese intermediate goods, particularly battery materials, batteries, and auto parts, have [...]

Streaming Services Forge Strategic Alliances as Korean Market Matures

SEOUL, Jan. 13 (Korea Bizwire) — In a maturing streaming market, success increasingly depends not just on compelling content but on strategic partnerships between diverse media players. Netflix’s recent strategic alliance with SBS to offer the broadcaster’s programs to Korean subscribers and Disney+’s unprecedented decision to premiere its hit series “Moving” on MBC television exemplify this [...]

South Korea Eyes U.S. Partnership to Bolster Booming Shipbuilding Sector

SEOUL, Jan. 10 (Korea Bizwire) — South Korea is ramping up its global leadership in shipbuilding by forging a new partnership with the United States and advancing next-generation maritime technologies. The government announced plans to establish a cross-departmental task force to strengthen collaboration with Washington, particularly in ship maintenance, repair, and overhaul (MRO), aligning with [...]