SEOUL, May 27 (Korea Bizwire) — As South Korea grapples with a prolonged domestic slowdown, economists and policymakers are sounding the alarm over an increasingly potent structural threat: the country’s shrinking and aging population. Already facing stagnating consumer sentiment, high inflation, and global uncertainty, South Korea’s economy is now contending with the compounding impact of demographic [...]
SEOUL, May 27, 2025 (Korea Bizwire) — As the United States intensifies its efforts to curb China’s shipbuilding dominance, global shipping giants are increasingly turning to South Korean shipyards for new vessel orders, according to industry sources and reporting by TradeWinds. Germany’s Hapag-Lloyd, the world’s fifth-largest container shipping line, had been considering placing new orders [...]
SEOUL, May 27 (Korea Bizwire) — Starbucks is breaking from its long-standing emphasis on face-to-face interaction by introducing self-ordering kiosks in South Korea and Japan — the first such move by the global coffee chain in either country. Starbucks Korea announced on Monday that it will begin rolling out kiosks this week at a limited number [...]
SEOUL, May 26 (Korea Bizwire) — For the first time since statistics began in 2018, South Korea’s once-booming coffee shop sector has shrunk, alongside a broader pullback across key self-employment industries. The decline underscores mounting pressure on small business owners from domestic economic stagnation, market saturation, and rising operating costs. According to data released Sunday by [...]
SEOUL, May 26 (Korea Bizwire) —HD Hyundai Heavy Industries, the shipbuilding arm of HD Hyundai, will unveil a bold vision for its expansion into the global naval defense market at South Korea’s largest maritime defense exhibition, MADEX 2025, opening May 28 in Busan. The company announced Sunday it will join forces with defense contractor LIG [...]
SEOUL, May 26 (Korea Bizwire) – E-commerce giant Coupang said Monday it has transitioned from a co-representative leadership system to a sole representative system under Park Dae-joon as part of efforts to drive growth through artificial intelligence (AI)-based logistics innovation. The company, wholly owned by New York-listed Coupang Inc., had been led by two representative directors, Park and Kang Han-seung. Park has spearheaded the nationwide expansion of Coupang’s renowned Rocket Delivery service and led the [...]
YEONGJONGDO, South Korea, May 26 (Korea Bizwire) — Volkswagen has officially launched its full-size Atlas SUV in the South Korean market for the first time, signaling a renewed push to bolster its position amid declining sales. At a media event held on May 26 at Studio Paradise in Yeongjongdo, Volkswagen Korea introduced the new Atlas, [...]
SEOUL, May 26 (Korea Bizwire) — Hyundai Mobis Co. has filed more than 7,500 patents over the past three years to strengthen its global competitiveness through proprietary technologies in future mobility and electrification, according to the company Monday. The company, the auto parts affiliate of Hyundai Motor Group, announced the figures during its annual in-house [...]
SEOUL, May 26 (Korea Bizwire) — Hyundai Motor Group said Monday it has established its third startup investment fund to support innovative venture companies with cutting-edge technologies and ideas. The group’s third fund under its ZER01NE accelerator program has been set up at a scale of 125 billion won (US$91.4 million), with financial participation from [...]
SEOUL, May 26 (Korea Bizwire) — South Korea has formally expanded the legal framework for hydrogen fuel usage beyond automobiles, paving the way for broader adoption of hydrogen-powered mobility technologies across diverse sectors including logistics and maritime transportation. The Ministry of SMEs and Startups and the city of Ulsan announced on Sunday that the regulatory sandbox [...]