SEOUL, May 15 (Korea Bizwire) — LG Group has opted not to hold its annual mid-year strategy briefing in 2025, a significant shift in its traditional executive agenda as the conglomerate pivots toward accelerating the implementation of its long-term plans amid heightened global uncertainty. According to industry sources on Wednesday, LG Chairman Koo Kwang-mo, who [...]
SEOUL, May 15 (Korea Bizwire) — South Korea’s leading e-commerce platforms are increasingly venturing into the offline space, launching a wave of pop-up stores to elevate brand visibility and draw new customers back to their digital platforms amid rising competition and shifting consumer habits. SSG.com, the e-commerce unit of retail giant Shinsegae Group, announced it will [...]
SEOUL, May 14 (Korea Bizwire) — French luxury brand Dior has come under scrutiny in South Korea for failing to report a recent data breach involving Korean customers to the Korea Internet & Security Agency (KISA), as required under domestic law, a lawmaker’s office said Wednesday. According to Rep. Choi Soo-jin of the ruling People Power [...]
SEOUL, May 14 (Korea Bizwire) — Kia Corp. said Tuesday it has partnered with the Indian Institute of Technology (IIT) Tirupati to cooperate in fostering local engineering talent and enhancing future mobility capabilities in the South Asian nation. Under their memorandum of understanding signed Friday, the South Korean automaker will invest 350 million rupees (US$4.1 [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s state-run economic think tank on Wednesday sharply cut its growth forecast for the local economy this year to 0.8 percent, citing rising global trade uncertainties and weakening exports. The revised projection by the Korea Development Institute (KDI) represents a 0.8 percentage-point drop from its previous estimate of [...]
SEOUL, May 14 (Korea Bizwire) — South Korea’s pharmaceutical and biotech companies view the Trump administration’s push to lower U.S. prescription drug prices as a potential tailwind for domestic drugmakers, particularly those in the biosimilar space. Former President Donald Trump, who is expected to run again in the 2026 election, issued an executive order last week [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s department store sector suffered a difficult first quarter as sluggish domestic consumption weighed heavily on sales and profits, with only Lotte Department Store managing to post a notable profit boost, thanks to strong performance in overseas operations and internal restructuring efforts. According to industry data released Tuesday, Lotte [...]
SEOUL, May 13 (Korea Bizwire) — Kia Corp. said Tuesday it has unveiled the PV5 wheelchair-accessible vehicle (WAV) at the Future of the Car Summit in London, highlighting the company’s efforts to promote inclusive mobility. Showcased at the automotive industry event hosted by the Financial Times, the PV5 WAV is designed to enhance freedom of [...]
SEOUL, May 13 (Korea Bizwire) — POSCO Group announced on Tuesday a capital injection exceeding ₩900 billion (approximately $670 million) into its key secondary battery subsidiaries, aiming to weather a temporary slump in electric vehicle (EV) demand and reinforce its position in the battery materials sector ahead of a projected market rebound. The move comes as [...]
SEOUL, May 13 (Korea Bizwire) — The number of monthly visitors to a park along the inter-Korean border has more than doubled this year after the opening of a Starbucks store there late last year, officials said Tuesday. Aegibong Peace Ecopark in Gimpo, just northwest of Seoul, saw an average of 32,379 monthly visitors from [...]