SEOUL, Jan. 10 (Korea Bizwire) — Taihan Cable & Solution Co., South Korea’s second-largest cable company, said Friday it has received a 100 billion-won (US$68.6 million) extra high-voltage cable order in Britain. Taihan Cable has obtained the deal from Balfour Beatty plc, a London-based infrastructure construction contractor, to supply 400 kilovolt high-voltage cables and cable [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea plans to release a record amount of agricultural products into the market to stabilize prices and ease the financial burden on people ahead of the Lunar New Year, the government said Thursday. Under the plan, the government will release 265,000 tons of 16 major agricultural items, including [...]
SEJONG, Jan. 9 (Korea Bizwire) — Hyundai Steel, a key affiliate of Hyundai Motor Group, is reportedly exploring plans to build a large steel mill in the United States. The move comes as U.S. President-elect Donald Trump signals heightened protectionist trade policies, urging foreign companies to manufacture within the U.S. to access its market. Potential [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Group on Thursday pledged to invest a record 24.3 trillion won (US$16.6 billion) in South Korea this year to bolster future competitiveness amid uncertain global business environments. The annual investment plan represents a more than 19 percent increase from last year’s domestic investment of 20.4 trillion won, [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea’s oceans ministry on Thursday announced a plan for the country to become the world’s top exporter of oysters by 2030, as part of efforts to diversify its trade portfolio. Under the vision, South Korea aims to export US$160 million worth of oysters in 2030, significantly up from [...]
SEOUL, Jan. 9 (Korea Bizwire) — CJ Foodville Corp., the restaurant arm of food and entertainment conglomerate CJ Group, said Thursday its bakery franchise Tous les Jours will open its first outlet in Malaysia in the first half of this year. CJ Foodville has signed a master franchise contract with local retailer Stream Empire Holdings [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea’s share of the global shipbuilding market fell to its lowest level in eight years in 2024, despite an increase in total orders, according to a report by UK-based Clarkson Research on January 8. Market Dynamics South Korea secured 10.98 million CGT (compensated gross tons) in orders, representing [...]
JEONJU, Jan. 9 (Korea Bizwire) — By 2090, climate change could enable the cultivation of subtropical crops such as tea trees for green tea and olive trees in regions as far north as Gangwon Province, according to projections released by the Rural Development Administration (RDA) on Wednesday. Expanding Cultivation Areas Currently, tea trees are grown [...]
SEOUL, Jan. 9 (Korea Bizwire) — A new survey reveals that one in three small business owners in Korea increased their borrowing in 2024, highlighting the ongoing financial challenges faced by the sector. According to a study released on January 8 by the Korea Federation of SMEs (KBIZ), 34.9% of small business owners who hold loans [...]
SEOUL, Jan. 8 (Korea Bizwire) — The Korea Chamber of Commerce and Industry (KCCI) unveiled its 2025 Retail Industry White Paper on January 7, identifying “S.N.A.K.E”—Survival, Next, AI, K-Culture, and Economical Consumption—as the year’s key consumer market trends. Survival in a Stagnant Market With global economic challenges and stagnating consumer markets, competition for limited spending [...]