SEOUL, Oct. 22 (Korea Bizwire) – The number of employees in South Korea’s manufacturing sector in the last three months dropped at the fastest pace in 11 quarters amid a protracted economic slowdown, government data showed Sunday. A monthly average of 4.47 million people were hired by the manufacturing industry in the July-September period, down [...]
SEOUL, Oct. 21 (Korea Bizwire) – South Korea confirmed its second case of lumpy skin disease (LSD) in cattle at a local farm on Saturday. The report comes one day after the country confirmed its first-ever case of LSD at a farm in Seosan, located some 98 kilometers southwest of Seoul. The second LSD case [...]
SEOUL, Oct. 20 (Korea Bizwire) – BGF Retail, the company that operates the CU convenience store chain, announced on Thursday that its employees and CU store owners went on a trip to Dokdo as part of the “2023 Dokdo Love Support Event.” This event is part of the Dokdo Love Campaign, which BGF Retail has been running [...]
SEOUL, Oct. 20 (Korea Bizwire) – The Korea Insurance Development Institute (KIDI) announced on Thursday that it will provide a ‘Car History’ information service for used cars being shipped from South Korea to the Middle East. The new service, a result of collaboration with CARSEER, the first car accident history service company in the Middle East, will [...]
SEOUL, Oct. 19 (Korea Bizwire) –South Korea’s top steelmaker POSCO Holdings Inc. said Thursday it has completed a galvanized steel sheet plant for automotive structural parts in northeastern China. The factory located in Tangshan, some 100 kilometers east of the Chinese capital Beijing, has an annual capacity of 450,000 tons, POSCO Holdings said. In [...]
SEOUL, Oct. 19 (Korea Bizwire) — Hanwha Aerospace Co. said Thursday it won a 235.6 billion-won (US$174 million) component supply deal from British aircraft manufacturer Vertical Aerospace Ltd. Under the deal, the South Korean aerospace company will provide tilting and blade system components to be used in the VX4, Vertical Aerospace’s unmanned electric vertical take-off [...]
SEOUL, Oct. 19 (Korea Bizwire) – Kia’s labor and management recently reached a preliminary agreement on wages, and it includes an unusually large compensation package. What happened is that the labor union successfully used the “employment inheritance” issue as leverage. In simpler terms, they got significant compensation in exchange for removing a clause that should have been [...]
SEOUL, Oct. 18 (Korea Bizwire) — South Korea’s industry ministry said Wednesday the recently revised export controls on chips by the United States will have no significant impact on local businesses. Overnight, the U.S. Department of Commerce announced a set of rules to update and strengthen its restrictions on the export of advanced computing semiconductors to [...]
SEOUL, Oct. 18 (Korea Bizwire) — Most South Korean industries are likely to see a modest recovery next year, with rechargeable batteries, automobile and shipbuilding sectors expected to show robust growth, according to a think tank Wednesday. The Hana Institute of Finance stressed the need to prepare for China’s slowing growth, strengthening of global environmental [...]
SEOUL, Oct. 18 (Korea Bizwire) – Chanel was the most popular luxury brand for resale this year, according to a recent report, with younger South Koreans actively trading in second-hand “luxury” items. Gugus, a platform that specializes in selling pre-owned luxury goods, released its ’2023 Pre-Owned Luxury Trends’ data on Tuesday. This report was based on data [...]