SEOUL, Dec. 11 (Korea Bizwire) – CJ OnStyle, a major South Korean home shopping channel, has cut ties with three cable TV operators—D’Live, ABN (Areum Broadcasting Network), and CCS Chungbuk Broadcasting—after negotiations over broadcasting fees collapsed. The unprecedented move has drawn attention, with industry insiders attributing the decision to CJ OnStyle’s strategic pivot toward mobile [...]
SEOUL, Dec. 11 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that the government will continue to closely monitor the market and to fully implement market stabilization measures amid lingering uncertainties from a political crisis. Choi made the remarks during a daily emergency meeting with Bank of Korea Gov. Rhee Chang-yong and other top [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea’s oceans ministry said Wednesday the government will invest 14 trillion won (US$9.75 billion) through 2045 to upgrade Busan Port, aiming to achieve the world’s largest container handling capacity and establish it as the leading logistics hub in the region. Under the plan, South Korea will construct a [...]
SEOUL, Dec. 11 (Korea Bizwire) — The South Korean and American business communities have urged their governments to ensure the stability of business activities of Korean companies in the United States amid rising economic and political uncertainties ahead of Donald Trump’s second term. At the 35th Korea-U.S. Business Council and the U.S.-Korea Business Council in [...]
SEOUL, Dec. 11 (Korea Bizwire) – McDonald’s Korea announced on Tuesday its commitment to converting all packaging materials used in its restaurants to recyclable or renewable materials by next year. This move positions the company as a leader in sustainability within the country’s quick-service restaurant (QSR) industry. As part of this initiative, McDonald’s Korea will introduce [...]
SEOUL, Dec. 10 (Korea Bizwire) – Leading South Korean construction companies are grappling with mounting profitability challenges as the industry faces a prolonged downturn. Cost-to-sales ratios have climbed above 90%, up sharply from the traditional mid-80% range in recent years, with some firms seeing ratios exceed 95%. According to NICE Information Service, the average cost-to-sales ratio for [...]
SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s real estate market is grappling with uncertainty following the December 3 emergency martial law and the subsequent impeachment proceedings against President Yoon Suk-yeol. Political instability, coupled with tightened loan regulations, has dampened buyer sentiment, raising fears of a prolonged downturn in the housing sector. Apartment transactions in [...]
SEOUL, Dec. 9 (Korea Bizwire) – Rising exchange rates could push South Korea’s already elevated food prices even higher next year, experts warn, as the country’s heavy reliance on imported food ingredients makes it particularly vulnerable to currency fluctuations. The won has weakened significantly against the dollar in recent weeks, with the exchange rate breaking through 1,400 [...]
SEOUL, Dec. 9 (Korea Bizwire) – In a significant pivot toward the world’s most populous nation, South Korean corporate powerhouses are intensifying their focus on India, seeing it as both an antidote to their China-dependent supply chains and a promising frontier for growth. Companies like Samsung Electronics, LG Electronics, and Hyundai Motor are expanding their footprint [...]
ANDONG, Dec. 9 (Korea Bizwire) – North Gyeongsang Province announced on December 8 that it will conduct special enforcement measures across its 22 cities and counties, focusing on seafood origin labeling verification and illegal fishing activities in the East Sea, with particular attention to snow crabs. This initiative comes in response to growing concerns about potential mislabeling [...]