SEOUL, May 22 (Korea Bizwire) – In an unusual move underscoring the strategic importance of South Korea’s digital currency initiatives, Bank of Korea Governor Rhee Chang-yong has personally visited the heads of the country’s major commercial banks, urging their active participation in two key central bank digital currency (CBDC) pilot projects. According to industry sources, Rhee [...]
SEOUL, May 23, 2025 (Korea Bizwire) – For the first time, the number of construction engineers aged 60 and older in South Korea has surpassed those in their 40s, signaling an accelerating demographic shift in the country’s construction sector. According to a report released Thursday by the Korea Construction Policy Institute, as of February 2025, 277,432 [...]
SEOUL, May 23, 2025 (Korea Bizwire) – South Korea’s aviation sector is accelerating hiring efforts across key roles—including pilots, flight attendants, and maintenance personnel—as airlines prepare for a post-pandemic surge in passenger demand, expand their fleets, and brace for structural industry realignment. Korean Air, the country’s largest carrier, began accepting applications this week for summer internship [...]
![[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business](http://koreabizwire.com/wp/wp-content/uploads/2025/05/This-photo-provided-by-Samsung-Biologics-Co.-shows-the-companys-production-plant-in-Songdo-west-of-Seoul.-PHOTO-NOT-FOR-SALE-Yonhap.jpg "[UPDATE] Samsung Biologics to Spin Off Bioepis Unit to Focus on CDMO Business")
SEOUL, May 22 (Korea Bizwire) — Samsung Biologics Co., a biotech arm of South Korea’s Samsung Group, said Thursday it plans to spin off its biosimilar development business to streamline its operations and focus on its core contract development and manufacturing organization (CDMO) services. According to a regulatory filing, the company will establish a new [...]
SEOUL, May 22 (Korea Bizwire) — Samsung Biologics Co., a biotech arm of South Korea’s Samsung Group, said Thursday it plans to spin off its biosimilar development business to streamline its operations and focus on its core contract development and manufacturing organization (CDMO) services. According to a regulatory filing, the company will establish a new [...]
SEOUL, May 22 (Korea Bizwire) — The government said Thursday it will invite bids to construct a homegrown energy storage system (ESS), a project estimated to cost around 1 trillion won (US$725 million), in a move aimed at enhancing the efficiency of domestic power production. According to the Ministry of Trade, Industry and Energy, the [...]
SEOUL, May 22, 2025 (Korea Bizwire) — A new report warns that South Korea’s manufacturing sector remains disproportionately dependent on foreign demand—particularly from the United States and China—raising concerns about economic vulnerability amid ongoing global trade tensions. According to data released Wednesday by the Korea Employers Federation (KEF), 58.4% of South Korea’s manufacturing GDP in [...]
SEOUL, May 22 (Korea Bizwire) — China solidified its near-total dominance of the global lithium-ion battery anode materials market in 2024, pushing South Korea’s POSCO Future M out of the global top 10 amid intensifying price competition and overproduction. According to data released Tuesday by SNE Research, global demand for anode materials reached 1.97 million tons [...]
SEOUL, May 22, 2025 (Korea Bizwire) — Asiana Airlines is facing mounting criticism and potential legal action over plans to offer unequal severance packages to employees affected by the company’s upcoming sale of its cargo division to Air Incheon, scheduled for July. According to industry sources, Asiana recently notified staff that domestic employees in its [...]
SEOUL, May 22 (Korea Bizwire) — Korea Electric Power Corporation (KEPCO) announced the completion of the country’s largest ammonia combustion testing facility on Tuesday, as the state-run utility accelerates efforts to commercialize carbon-neutral power generation technologies. Located at KEPCO’s Power Research Institute, the new 1-megawatt testbed is designed to verify high-efficiency, low-emission combustion of ammonia—a [...]