SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s auto, shipbuilding and semiconductor industries on Friday broadly welcomed the release of the joint fact sheet detailing the country’s trade and security agreement with the United States, easing weeks of anxiety over steep tariffs. But automakers voiced disappointment that the timing of tariff reductions remains unclear and that [...]
SEOUL, Nov. 14 (Korea Bizwire) – Kia Corp., South Korea’s second-biggest carmaker, said Friday it held a ceremony to mark the completion of one facility and the groundbreaking of another for a purpose-built vehicle (PBV) production hub, as part of its broader push to become a future mobility solutions provider. The company held a completion [...]
INCHEON, Nov. 14 (Korea Bizwire) – Mercedes-Benz Group AG plans to deepen its long-running technology and supply chain partnerships with leading South Korean companies, as the German automaker navigates evolving global supply chain dynamics, the company’s chief said Friday. Ola Kallenius, chairman and chief executive officer (CEO) of Mercedes-Benz, said during a media event in [...]
SEOUL, Nov. 14 (Korea Bizwire) — A working mother has filed a petition with South Korea’s National Assembly opposing a proposed ban on early-morning delivery services, arguing that the measure would harm families and consumers who depend on the convenience for their daily lives. The petition, titled “Opposition to the Ban or Restriction on Dawn Deliveries,” [...]
SEOUL, Nov. 13 (Korea Bizwire) — Starbucks Korea has introduced self-order kiosks for the first time, marking a cautious shift in the global coffee chain’s long-held principle of prioritizing human interaction. The company said Thursday that two kiosks were installed this week at its Myeong-dong branch in central Seoul, one of the city’s busiest shopping [...]
SEOUL, Nov. 13 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding conglomerate, said Thursday its chairman held talks with a state minister of India to discuss ways to expand cooperation in the shipbuilding and maritime industries. HD Hyundai Chairman Chung Ki-sun met with Hardeep Singh Puri, India’s minister for petroleum and natural gas, in [...]
SEOUL, Nov. 13 (Korea Bizwire) – South Korean conglomerate LG Group said Thursday its affiliates discussed a comprehensive partnership with Mercedes-Benz Group AG in automotive parts for advanced cars, including electric vehicles (EVs). Cho Joo-wan, chief executive officer of LG Electronics Inc., met with Mercedes-Benz Group Chairman Ola Kallenius in Seoul to share visions on [...]
SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s leading convenience store chain CU has opened its first store in the United States, marking the brand’s official entry into the American market with the debut of its “CU Downtown” branch in Honolulu, Hawaii. BGF Retail, which operates CU, said Thursday that it launched the store on [...]
SEOUL, Nov. 12 (Korea Bizwire) — South Korea’s logistics and e-commerce industries are embroiled in a fierce debate over a proposed ban on deliveries between midnight and 5 a.m., a move labor groups say is needed to protect workers’ health but businesses warn would disrupt jobs and consumer convenience. The controversy began after the Korean Confederation [...]
SEOUL, Nov. 12 (Korea Bizwire) – South Korean steelmaker POSCO Group said Wednesday it will invest 1.1 trillion won (US$750 million) to secure lithium resources in Australia and Argentina to bolster its rechargeable battery materials business. POSCO will acquire a 30 percent stake in a subholding company to be established by Australian miner Mineral Resources [...]