![[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila](http://koreabizwire.com/wp/wp-content/uploads/2025/06/an-FA-50-fighter-landing-at-an-air-base-in-the-southwestern-city-of-Gwangju.-.jpg "[UPDATE] KAI Inks US$700 Mln Deal To Export FA-50 Aircraft To Manila")
SEOUL, June 4 (Korea Bizwire) — South Korean defense firm Korea Aerospace Industries Ltd. (KAI) has signed a deal with the Philippine defense ministry to export 12 FA-50 light attack fighters by 2030, the state arms procurement agency said Wednesday. The US$700 million deal signed Tuesday marks the second round of FA-50 exports to Manila, [...]
SEOUL, June 2 (Korea Bizwire) — Kia Corp., South Korea’s second-largest automaker by sales, said Monday its sales gained 1.7 percent last month from a year earlier on steady overseas demand for sport utility vehicles (SUVs). Kia, a smaller affiliate of local industry leader Hyundai Motor Co., sold 269,148 vehicles in May, up from 264,699 [...]
SEOUL, June 2 (Korea Bizwire) — South Korean defense giant Hanwha Aerospace Co. said Monday it has participated in the Shangri-La Dialogue, a major international security forum held annually in Singapore, marking a step forward in its global defense engagement and becoming the first South Korean defense firm to do so. Michael Coulter, chief executive [...]
SEOUL, June 2 (Korea Bizwire) — As Tesla’s dominance in the global electric vehicle (EV) market continues to falter, U.S.-based automotive outlet Electrek has named Hyundai and Kia as the most viable alternatives to the American EV giant, citing their competitive models and technological edge. In a recent analysis, Electrek highlighted Hyundai’s Ioniq 6 and Kia’s [...]
SEOUL, June 1 (Korea Bizwire) — Despite renewed speculation over a possible withdrawal of General Motors from South Korea in the wake of the Trump administration’s proposed 25% tariff on imported automobiles, GM’s top financial executive has dismissed any immediate plans to cut production at GM Korea, citing strong vehicle profitability and a favorable outlook for [...]
SEOUL, May 31 (Korea Bizwire) — Korean Air announced Friday the release of its first upcycled merchandise using parts from a retired Airbus A380 aircraft, marking a new phase in the airline’s sustainability-driven product line. The carrier introduced two limited-edition items — name tags and golf ball markers — crafted from the fuselage of aircraft [...]
SEOUL, May 30 (Korea Bizwire) — South Korea’s economy showed renewed signs of weakness in April, with industrial production, consumption, and investment all posting declines — the first “triple minus” since January — as the impact of new U.S. auto tariffs begins to ripple through key sectors. According to data released Friday by Statistics Korea, [...]
DAEGU, May 29 (Korea Bizwire) — At the 2025 International Fire Safety Expo in Daegu, South Korea, Hyundai Motor Group and the National Fire Agency unveiled a next-generation unmanned firefighting vehicle, drawing significant attention for its autonomous precision and disaster-response capabilities. The vehicle—developed by Hyundai Rotem and based on the multi-purpose unmanned platform HR-Sherpa—is designed [...]
SEOUL, May 29 (Korea Bizwire) — General Motors’ South Korean unit has announced plans to sell off domestic service centers and production facilities, fueling renewed speculation that the Detroit-based automaker may be preparing to wind down its presence in the country. On Thursday, GM Korea informed employees of its decision to divest nine company-owned service [...]
SEOUL, May 29 (Korea Bizwire) — The Genesis GV70 sport utility vehicle has been recognized by top automotive publications in the United States and Canada as one of the best premium sport utility vehicles (SUVs) on the market, Genesis said Thursday. The independent premium auto brand of South Korea’s Hyundai Motor Group recently held an [...]