SEOUL, Oct. 16 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Monday it will build two mid-sized, ammonia-powered ships for the first time in the world. HD Korea Shipbuilding said it will install an ammonia dual-fuel engine in the 45,000-cubic meter liquefied petroleum gas (LPG) carriers, whose order it [...]
JEJU, Oct. 13 (Korea Bizwire) – The most beloved Christmas tree in the world will be chosen from Jeju. The Jeju World Heritage Site recently announced its plan to pick one special tree, a representative of the Korean Fir found on Mt. Halla, as the ‘Christmas Tree Ambassador.’ This tree will symbolize the importance of preserving [...]
SEOUL, Oct. 13 (Korea Bizwire) — Two models of Hyundai Motor Co.’s luxury brand Genesis have earned top safety awards from the U.S. Insurance Institute for Highway Safety (IIHS), according to the group Friday. The Genesis G80 model and its electrified variant garnered the Top Safety Pick+ (TSP+) awards in the latest IIHS’ collision tests, [...]
SEOUL, Oct. 12 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Thursday it has begun construction in Kazakhstan of its fourth overseas plant as part of its expansion strategy. KT&G aims to complete the plant’s construction by 2025 to export its products to the Eurasian region, the company said in a statement. [...]
SEOUL, Oct. 11 (Korea Bizwire) – Data from the Korea Customs Service reveals a surge in alcohol imports, resulting in a doubled trade deficit in the sector over four years. Imported alcoholic beverages, such as beer and whiskey, reached $1.62 billion in 2022, marking a 54% increase from 2018. Notably, it highlights that exports of [...]
WASHINGTON, Oct. 10 (Korea Bizwire) — From a legacy self-propelled howitzer to a new unmanned ground vehicle and a high-tech drone, a dozen South Korean companies showcased their advanced defense products at a major U.S. defense exhibition in Washington on Tuesday. The Association of the United States Army (AUSA) 2023 Annual Meeting and Exposition kicked [...]
SEOUL, Oct. 11 (Korea Bizwire) – A South Korean politician urged the government on Tuesday to urgently devise measures to prevent Chinese companies from releasing imitated versions of K-foods, as some Chinese companies imitate not only the brand name and packaging but also use the Korean language on their products. Lee Yang-soo, a lawmaker from the [...]
SEOUL, Oct. 11 (Korea Bizwire) – The pet snack market, with a focus on nutritional supplements, is experiencing significant growth thanks to the increasing trend of pet ownership stemming from the rise in single-person households, declining birth rates, and an aging population. According to ‘Retail Talk,’ a newsletter from the Korea Chamber of Commerce and Industry [...]
SEOUL, Oct. 10 (Korea Bizwire) – North Korea may stage various provocations, including a nuclear test, to divert its public’s attention from the country’s ongoing food crisis, South Korea’s defense ministry said Tuesday. The ministry made the assessment in a policy report for a parliamentary audit amid growing tensions after North Korea revised its constitution [...]
SEOUL, Oct. 10 (Korea Bizwire) — South Korean steel giant POSCO Holdings Inc. said Tuesday it has received 85 billion won (US$63.2 million) in third-quarter dividends from an Australian iron ore company. The receipt follows a recent decision by the board of Australia’s Roy Hill Holdings to pay AU$800 million (US$514 million) in total third-quarter [...]