SEOUL, April 25, (Korea Bizwire) — South Korea’s largest corporations are ramping up their responses to the renewed threat of U.S. tariffs under the Trump administration by stockpiling inventory and expanding production within the United States, signaling a shift toward more aggressive contingency planning. During first-quarter earnings calls on April 24, companies across the automotive, [...]
SEOUL, April 24 (Korea Bizwire) — South Korea’s trade watchdog decided Thursday to impose anti-dumping tariffs on cold-rolled stainless steel products from two Vietnamese companies, according to Seoul’s industry ministry. The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 18.81 percent duties on stainless steel products imported from Vietnam’s [...]
SEOUL, April 24 (Korea Bizwire) — South Korea’s top central banker has said global trade tensions sparked by the United States’ sweeping tariff policy are a major headwind for the country’s export-driven economy, and the issue will likely accelerate its efforts to diversify supply chains. Bank of Korea (BOK) Gov. Rhee Chang-yong made the assessment [...]
SEOUL, April 24 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Thursday its net income more than tripled in the first quarter from a year earlier on increased sales and strong demand for high-value vessels. The consolidated net profit of South Korea’s top shipyard came to 611.6 billion won (US$427.8 [...]
SEOUL, April 24, (Korea Bizwire) — South Korea’s retail sector is undergoing a seismic shift as e-commerce giants and traditional retailers alike double down on fresh food—a category once dominated by brick-and-mortar stores—as a key to future growth and survival. Coupang, the country’s leading e-commerce platform, is aggressively expanding its fresh food business in 2025, [...]
SEOUL, April 24 (Korea Bizwire) — The South Korean economy posted negative growth for the first time in about a year in the first quarter of 2025, central bank data showed Thursday, amid a domestic political crisis and uncertainties stemming from the Donald Trump administration’s sweeping tariff scheme. The country’s real gross domestic product (GDP) [...]
SEOUL, April 24 (Korea Bizwire) — Hyundai Motor Group said Thursday it has partnered with the Indian Institute of Technology (IIT) Delhi to establish a new research center in India aimed at advancing future mobility technologies, with a focus on electrification and battery systems. Under their partnership agreement signed Wednesday, the two sides will establish [...]
TEAAN, South Korea, April 23 (Korea Bizwire) — As South Korea embarks on the phase-out of coal-fired power generation, a major blue hydrogen production facility is set to be built in Taean, South Chungcheong Province, signaling a pivotal shift toward clean energy and carbon neutrality. On April 23, 2025, South Chungcheong Province, Taean County, Korea [...]
SEOUL, April 23 (Korea Bizwire) – SK bioscience Co., the biopharmaceutical arm of South Korea’s SK Group, said Wednesday it has achieved a “final victory” in a patent invalidation case against Moderna, the global developer of the messenger-RNA (mRNA) COVID-19 vaccine. SK bioscience filed a nullity suit in 2023 challenging Moderna’s patent on modified nucleosides, [...]
SEOUL, April 23 (Korea Bizwire) — Samsung Biologics Co., the biotech arm of South Korea’s Samsung Group, said Wednesday its first-quarter net profit more than doubled from a year earlier, driven by expanded production and a weaker won. Net profit for the three months ended March surged to 375.6 billion won (US$263.9 million), up from [...]