SEOUL, May 16 (Korea Bizwire) – A young American girl’s emotional unboxing of a birthday gift containing Samyang Foods’ wildly popular Buldak Carbonara Ramen went viral last month, amassing over 100 million views across social media platforms like TikTok. After momentarily losing her words upon revealing the pink packaging of the spicy South Korean instant noodles, [...]
SEOUL, May 16 (Korea Bizwire) – HD Hyundai, a major South Korean shipbuilder, is accelerating its foray into the offshore wind industry by establishing an overseas manufacturing base. The company has decided to lease a portion of the land and facilities at the Subic Shipyard in the Philippines, aimed at expanding its production of offshore wind [...]
SEOUL, May 14 (Korea Bizwire) – As the South Korean government accelerates research into the potential hazards of synthetic nicotine to determine regulatory measures, attention is turning to whether these products could be subject to tobacco taxes. If synthetic nicotine is included under the Tobacco Business Act’s regulatory purview, liquid-based synthetic nicotine products, which have so [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s terms of trade rose for the fifth consecutive month in April as export prices rose while import prices fell, central bank data showed Tuesday. The country’s net terms-of-trade index for goods — a gauge of overall trade terms — improved 5.2 percent last month from a year [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s import prices rose for a fourth consecutive month in April due to an increase in oil prices and the Korean won’s decline against the U.S. dollar, central bank data showed Tuesday. The import price index rose 3.9 percent last month from a month earlier following a 0.5 [...]
SEOUL, May 14 (Korea Bizwire) — Nongshim Co., South Korea’s leading instant noodle maker, said Tuesday it is considering building a new domestic plant for exports only amid growing overseas demand for Korean instant noodles, called ramyeon. Nongshim is in consideration to build the exports-only plant in the southeastern port city of Busan or Pyeongtaek, [...]
SEOUL, May 13 (Korea Bizwire) – On the first floor of Lotte World Mall last month, queues snaked up to the third floor as crowds of students and foreign visitors flocked to a pop-up store event featuring the K-pop group Tomorrow X Together. At a Kiwoom Heroes baseball team pop-up that ran until May 5 at [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s trade ministry said Monday it has held the first joint committee meeting with Cambodia after their free trade agreement (FTA) took effect and discussed the progress of the deal and ways to cooperate in the global supply chain. Trade Minister Cheong In-kyo met his Cambodian counterpart, Cham [...]
SEOUL, May 13 (Korea Bizwire) — Business leaders of South Korea, Japan and China plan to convene in Seoul this month to discuss regional economic cooperation and strengthen exchanges, according to industry sources Monday. According to the sources, the Korea Chamber of Commerce and Industries, the Japan Business Federation and the China Council for the [...]
SEOUL, May 13 (Korea Bizwire) – The National Tax Service of South Korea has initiated a special tax investigation into Coupang, the nation’s top e-commerce company. Authorities are examining the flow of funds between Coupang’s Korean entity, wholly owned by the U.S.-based Coupang Inc. in Delaware, and its overseas affiliates. This probe coincides with looming scrutiny [...]