SEOUL, May 3 (Korea Bizwire) — Chanel has emerged as the most frequently counterfeited brand online in South Korea over the past five years, according to new government data that highlights the growing challenge of policing illicit e-commerce activity involving luxury goods. A report submitted by Rep. Oh Se-hee of the Democratic Party, a member of [...]
SEOUL, May 2 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Friday its sales fell 6.3 percent in April from a year earlier on lower demand for its models. The company sold 41,644 vehicles last month, down from 44,426 units in the same period last year, the company [...]
SEOUL, May 2 (Korea Bizwire) — KG Mobility Corp., a South Korean carmaker, said Friday its sales dropped sharply from a year earlier in April, mainly due to a decline in exports. The company sold 8,642 vehicles last month, down 11 percent from 9,751 units sold the same month last year, the company said in [...]
SEOUL, May 2 (Korea Bizwire) — Woori Financial Group Inc. got regulatory approval on Friday for the takeovers of two life insurance companies, on condition that the group faithfully implements its planned measures aimed at strengthening its internal control. The Financial Services Commission (FSC), the country’s financial regulator, approved Woori Financial’s takeovers of Tongyang Life [...]
SEOUL, May 2 (Korea Bizwire) — Wemix, a cryptocurrency issued by Korean game publisher Wemade Co., will be delisted from major domestic crypto exchanges next month following a large-scale hacking incident, exchange operators said Friday. The Digital Asset eXchange Association (DAXA), an alliance of five major crypto exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax [...]
SEOUL, May 2 (Korea Bizwire) — Seoul shares ended higher Friday, led by gains in tech and shipbuilding stocks, although investors remained cautious about the impact of shifting U.S. tariffs on major companies’ earnings. The Korean won rose sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.18 points, or [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s small satellite designed to measure space radiation will take part in the Artemis II mission, a U.S.-led moon exploration program, the Korean space agency said Friday. Under an agreement between the Korea AeroSpace Administration (KASA) and the U.S. National Aeronautics and Space Administration (NASA), the K-RadCube, a [...]
SEOUL, May 2 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung visited Auto Shanghai 2025 earlier this week despite the automaker’s absence from the event, industry sources said Friday. Chung attended the biennial motor show on the eve of its official closing Friday, marking his first attendance at China’s event since the 2018 [...]
SEOUL, May 2 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it has decided to fine Meta Platforms Inc., the operator of Facebook and Instagram, on charges of violating the country’s law on consumer protection. Meta Platforms was slapped with a 6 million-won (US$4,176) fine and ordered to take necessary measures to align with [...]
SEOUL, May 1 (Korea Bizwire) — LIG Nex1 Co., a major South Korean defense and aerospace company, said Thursday it has signed a 320.7 billion-won (US$224 million) deal to develop the Chollian Satellite 5, South Korea’s next-generation geostationary weather satellite. The satellite project will be carried out in collaboration with the Korea Meteorological Administration, the [...]