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Archive by category Industries

Majority of Mid-Sized Korean Companies Expect Greater Economic Uncertainty Under Second Trump Administration

SEOUL, Nov. 27 (Korea Bizwire) – A new survey has revealed that more than three-quarters of South Korean mid-sized companies anticipate increased economic uncertainty when Donald Trump returns to the White House, highlighting growing concerns about potential shifts in U.S. trade and economic policies. The Federation of Middle Market Enterprises of Korea (FOMEK) released the findings [...]

S. Korea’s Exports of Dried Seaweed Hit All-time Record in 2024

SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s exports of dried seaweed products have already reached a new annual high this year, driven by growing global demand for healthier foodstuffs, data showed Tuesday. Outbound shipments of dried seaweed, called “gim” in Korean, reached US$850 million during the January-October period, already surpassing the previous annual record [...]

South Korean Garment Maker Unveils Ambitious Welfare Project at Ethiopian Factory

SEOUL, Nov. 26 (Korea Bizwire) – A leading South Korean garment manufacturer, ShinTS, has inaugurated a large-scale recreational park for its workers at its Ethiopian manufacturing facility, marking a significant expansion of its employee welfare initiatives in Africa. The opening ceremony for the park and daycare center, held on November 22 at the company’s facility in [...]

South Korean Shipbuilders End Legal Feud, Eye Global Defense Markets

SEOUL, Nov. 26 (Korea Bizwire) – Two of South Korea’s biggest shipbuilders have withdrawn their legal complaints against each other, marking a potential turning point in their fierce rivalry amid a historic boom in the nation’s defense industry. HD Hyundai Heavy Industries and Hanwha Ocean announced on November 25 that they would drop their respective criminal [...]

South Korea Advances Solutions to Combat Floor Noise in Apartments

SEOUL, Nov. 25 (Korea Bizwire) — In an effort to tackle persistent floor noise issues in apartments, Korea Land and Housing Corporation (LH) unveiled the country’s largest soundproofing testing facility, the ‘Decibel 35 Lab,’ located at the Sejong Housing Performance Research and Development Center. This new facility simulates real apartment environments, allowing for in-depth testing [...]

S. Korean Business Presence in China Fading amid Local Competition, Weakened Sales

SEOUL, Nov. 25 (Korea Bizwire) — The business presence of South Korean companies in China has withered palpably in recent years amid toughened competition from local rivals and sluggish domestic demand in the neighboring country, according to industry watchers Monday. In September, LG Display Co. sold its liquid-crystal display (LCD) factory in China’s Guangzhou to [...]

POSCO Factory Suffers Second Fire in 2 Weeks

POHANG, South Korea, Nov. 25 (Korea Bizwire) — A POSCO factory in the southeastern city of Pohang has suffered its second fire in two weeks, officials said Monday, with no casualties reported. The fire started at the steel company’s patented No. 3 Finex furnace of the plant, located some 270 kilometers southeast of Seoul, at [...]

South Korea Develops First Korean-Style Industrial Complex in Vietnam

SEOUL, Nov. 24 (Korea Bizwire) – In a move to bolster the presence of South Korean companies in Vietnam, a consortium led by the Korea Land and Housing Corporation (LH) has completed construction of the first “Korean-style industrial complex” in the country. The Ministry of Land, Infrastructure, and Transport announced Sunday the completion of the Hưng [...]

S. Korean Steelmakers Call for Thorough Scenario-based Strategies for Trump Policy

SEOUL, Nov. 22 (Korea Bizwire) — South Korean steelmakers on Friday called for establishing a joint consultative body with the government to devise strategies for expected policy changes by the Donald Trump administration, the industry ministry said. Officials from major steelmakers, including POSCO and Hyundai Steel, made the call during a meeting with Industry Minister [...]

Tada Threatens Legal Action Against Kakao Mobility Over Alleged Driver Poaching

SEOUL, Nov. 22 (Korea Bizwire) – A mobility platform rivalry has intensified in South Korea as Tada operator VCNC announced plans for legal action against Kakao Mobility, accusing the tech giant of unfairly recruiting its drivers and mishandling personal information. According to industry sources on November 21, Tada is considering filing a complaint with the Fair [...]